Team17 Group's revenue is set to be significantly ahead of market expectations

Team17 Group, the global games label, has revealed that it traded strongly in the second half of 2022 after its performance was boosted by new games releases.
By Greg Wright
Published 18th Jan 2023, 10:38 BST

As a result, the group said revenue and adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) for 2022 will be significantly ahead of market expectations and show strong growth compared with 2021.

The statement said the group had received a boost from the performance of a stronger, broader portfolio, which has been supported by the acquisitions and investments in staff over the last two years.

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Debbie Bestwick MBE, CEO of Team17, said: “2022 was a well-executed year delivering on our highly ambitious plans for the group, specifically strong lifecycle management across a very diverse portfolio.

Team17 Group is a global games label, creative partner, developer and publisher of independent premium video games, educational entertainment apps for children and working simulation games,Team17 Group is a global games label, creative partner, developer and publisher of independent premium video games, educational entertainment apps for children and working simulation games,
Team17 Group is a global games label, creative partner, developer and publisher of independent premium video games, educational entertainment apps for children and working simulation games,

“There will always be more work to do as a growth business, but last year’s performance is a testament to the significant investment that has been made over the last two years in people, diversifying portfolios and successful M&A (mergers and acquisitions), all of which put the group in a very robust position for the future.

“We look forward to 2023 with an exciting pipeline of releases and updates as well as ongoing ROI (return on investment) from the investments we have made in people and products.”

The group expects to report its full year results during March 2023 and is set to provide further insight into the group’s plans for 2023 at that time.