Games Workshop Share Discussion Threads

[rkeck] 13/6/2025 10:41:10

Thanks very much to both of you for those insights.

[lauders] 13/6/2025 01:16:12

The Saber Interactive-developed Space Marine 2 launched in early September 2024, which means it hit the 7 million copies sold mark in just over nine months.

Space Marine 2 was an instant hit, selling 4.5 million in just over a month. Indeed, Space Marine 2 has done so well it “changes everything” for Saber, Chief Creative Officer Tim Willits told IGN soon after the game came out.

As a result, it was a big financial success for Warhammer 40,000 owner Games Workshop. CEO Kevin Rountree has said it contributed significant royalty revenue to the tabletop company's business last year.

Also Space Marine 3 is in development:

[robinnicolson] 12/6/2025 18:30:48

Focus Entertainment have announced that there are now 7 million players on Space Marines 2.

[rkeck] 12/6/2025 07:57:57

Is any one on here able to post their view on reasons for recent share price surge (particularly over the last week post the dip after recent results)? I have held shares in GW for around 4 years and couldn’t admire and respect the company more but I am very much an outsider when it comes to understanding the actual games.

[lauders] 04/6/2025 08:32:37

Games Workshop will place Battleforce: Houndpack Lance and Codex: Chaos Knights, for Warhammer 40,000, onto preorder on June 7, 2025.

[tictac] 23/5/2025 16:07:06

Licensing has its own issues. If you risk your brand in the hands of others you need to be careful. I read this as they are being careful. Amazon need to get it right.

Tariffs, with the UK deal, are pretty much irrelevant.

[shanklin] 23/5/2025 15:19:18

“25/26 licensing revenue may or may not be higher than 24/25 but we are not saying they will be higher”

[kennewil] 23/5/2025 15:07:59

Rather curious statement. "Licensing remains a significant area of focus."I read as nothing signed or expected but we are working on it.

[crazycoops] 23/5/2025 12:29:18

Let's see what they say in the annual report but the company has pricing power and can use this to overcome the impact of tariffs in much the same way they dealt with inflation.

[disc0dave46] 23/5/2025 12:25:24

Don't think a lack of guidance for FY26 is an issue as that's the norm. But IMO not mentioning the likely impact of tariffs when over 40% of income comes from the US hasnt helped.
I've pencilled in c 560eps (3% reduction as per current consensus) for FY26, which is a PE of 27x matching their 5 year average. Will eps forecasts be downgraded further on the back of today's update?.

[martinmc123] 23/5/2025 12:07:52

wealthoracle.co.uk/detailed-result-full/GAW/1434

[srichardson8] 23/5/2025 10:59:21

Someone is and has been dribbling out small lots (just now 800 shares) all morning. They stick out and are always showing as sales. A complete guess is that this is the remnants of a block on a broker's books, possibly even the remnants of the May 19th BG block which was conveniently under 5% of shares in issue. Possibly delayed in the hope that these (after all) stonking figures would produce a wave of demand. This is just guesswork but I really don't think the lessened expectation on licensing revenues is the root cause. Anyway absolutely no cause for panic imo.

[kirkie001] 23/5/2025 09:25:46

It's a bizarre way of looking at it, but you're possibly right. I don't know how much more obvious the company could have been over recent months that the licencing revenue was one-off in nature.....

Other negative might be the whole Trump/Tariff outlook and uncertainty. But can't really complain about the share price performance in 2025 so far... just about 20% up...

[fuji99] 23/5/2025 08:45:18

This is what is hurting the share price: An uncertain outlook - not provided:

"It was an extraordinary year from a licensing perspective, with revenue of £50m and an operating profit of not less than £45m. Management has clearly indicated they are not expecting a similar performance in the coming year, which presents a modest headwind for growth given its high level of profitability."

[lauders] 23/5/2025 07:55:42

From Edison:

[kennewil] 23/5/2025 07:15:11

Core revenue nicely up. Bit of worry over licensing. I guess amazon had to pay up front.Maybe more jam when tv/films released l8ter, but not this year.

[akhilsoni86] 21/5/2025 22:48:26

If you are referring to Baillie reducing their stake by 5%, then I do not know about the price it traded at. Last two day volumes were low so I'm pretty sure it must have been done over the dark pool

[tictac] 21/5/2025 17:41:52

The 5% has to turn up somewhere. Has anyone spotted a trade associated with this and the price?

[akhilsoni86] 16/5/2025 08:12:13

Did anyone here attend the AGM yesterday? If so, would really appreciate the main highlights. TIA

[lauders] 30/4/2025 10:49:32

Nice to see continued strength here, and GW seems to have fans excited for the near future too:

Games Workshop has revealed a whole pack of new Space Wolves miniatures for Warhammer 40,000, and they've left us howling in delight.

[kennewil] 25/4/2025 08:56:44

So so close to 150 quid.

[princesa_consuela] 23/4/2025 20:03:12

I am more worried perhaps with delays and stuff stuck in customs. Are they sending by air freight from DHL? The large distribution centre is located in the East Midlands airport, which is the main base for DHL.