Games Workshop Share Discussion Threads

[hatfullofsky] 14/3/2019 08:54

Back in today @ 2833, nearing 2800 support level. Tight stop at 2700

Additional Order placed if it dips below 2800

[daijavu] 13/3/2019 09:43

I have a confession folks. I bought at the peak.

I have an unerring skill at buying just before an share price drops.

[shanklin] 13/3/2019 09:24

Ongoing share price weakness here seems quite bizarre.

[nod] 13/3/2019 00:14

That sounds encouraging.Plenty of life in 40K

[cockerhoop] 12/3/2019 08:28

Feedback I've had on Shadowspear is that It's very eagerly anticipated. The online store I monitor has over 700 copies for pre-order. Normally with a 2 army box set they'd have 200-300.

[nod] 12/3/2019 08:07

Release date 16 March

[nod] 11/3/2019 21:36

The spike in royalty income from 2009-2012 would have been helped by two high profile products: Dawn of War II (plus extensions) and Age of Reckoning. Those popular computer games would have helped sales of licensed tabletop games (board and card games) during these years.

[nod] 11/3/2019 10:04

There is a long-term trend there - it's called up and down..Seriously though, in the LOTR boom we didn't own the IP of a hot product line. Today, we own everything we owned in 2005 plus another 14 years of product development..

[cockerhoop] 11/3/2019 08:52

I think you need to concentrate on the trend and narrative regards royalty since Kevin Rountree became CEO.

[shanklin] 11/3/2019 07:36

So, royalty income has increased by a compound 33% p.a over 17 years, albeit so irregularly that I would not be too confident of extrapolating into the future on that basis.

[nimbo1] 09/3/2019 09:34

Thanks Nod and Shanklin, one of my reasons for asking is it has GAW down as a publisher on the game. Im not sure if its been publisher on its other games. There are 2 parts to getting a game out there - developer and publisher. Quite often the revenue split would be 50/50 as you can't have one without the other. There is also another publisher listed...basically what I am saying is it wouldn't surprise me if GAW make more from computer games in the future than they have done in the past.

[nod] 09/3/2019 03:25

It's a shame that EA acquired Mythic and Age of Reckoning. The wealth of AoR (aka WAR) game design and code is locked away in EA even though they no longer own a GAW licence. EA hit a wall during the financial crash and immediately stopped investment in AoR and reduced servers.
A developer of Age of Camelot and Age of Reckoning (Andrew Meggs) called on EA to release the AoR code but EA rejected his overtures.
AoR reached 300,000 paying users. With so many more Warhammer fans today it would be a huge hit. The GAW IP makes for a fantastic MMORPG.
.

[cockerhoop] 08/3/2019 15:36

From the AR:

The Warhammer settings are incredibly rich and evocative backdrops. They're populated by more than three decades of fantastical characters and comprise of thousands of exciting narratives. Going forward, we want to make it easier than ever for people to engage with and immerse themselves in our IP. To that end, I have a small, senior team to help me find new partners to help us bring the worlds of Warhammer to life like never before. Together, we'll explore animation, live action and more, while ensuring we do no harm to our core miniatures business.

[shanklin] 08/3/2019 15:17

As has been posted previously, the growth in royalty income, nearly all of which goes straight to the bottom line, is one very attractive feature of investing in GAW.

[cockerhoop] 07/3/2019 20:51

It does though demonstrate how conservative GAW were with their Revenue Recognition. The vast majority of companies I've looked at have had to delay some Rev/Profit Recognition due to the implementation of IFRS15 whilst GAW have been forced to recognise it earlier.

[nod] 07/3/2019 20:20

GAW keeps individual royalties secret, only reporting the totals. Great to see royalties keep increasing (up 55%) and operating expenses are low at GBP 346,000 in H1. A change in accounting makes like for like comparisons difficult. From interim results:"On a constant currency basis, royalty income increased by GBP 2.0 million to 5.6 million. As discussed in note 2, we now recognise royalty income in full on inception of the contract and this has been reflected in these numbers."Note 2: Under IFRS 15, minimum royalty guarantee income will be recognised in full at inception of the contract. Previously, this income was deferred and recognised on the balance sheet within accruals and deferred income and released in line with licensee sales."

[nimbo1] 07/3/2019 17:48

Nod - do you have any sense of what % of game revenues GAW would be due from Chaosbane?

[nod] 07/3/2019 08:35

A Chaos Space Marine Noise Marine.

[nod] 07/3/2019 08:23

Some nice reviews recently ...

Why Games Workshop (LON:GAW) has a major competitive edge
Stockopedia Wed 2:17pm by Ben Hobson

It's probably fair to say that most of us would like to own shares in the most respected companies in the stock market... the ones that seem to be able to make consistently stunning profits over the long term.

What makes these elite stocks so appealing is they can resist competitive threats in order to generate breathtaking profits.

What makes them different is that they've got what billionaire investor Warren Buffett, calls economic moats. Like medieval castles, their profits are protected by unique characteristics.

In this article I'm going to tell you what makes these stocks so special - and I'm going to use Games Workshop as an example. You may be familiar with Games Workshop - it's an adventurous, mid cap in the Consumer Cyclicals sector.

[nod] 02/3/2019 01:37

I have no idea why I read it as a question about divis. It was a very stressful week ... that's my excuse.

[cockerhoop] 01/3/2019 23:26

Push n run,

#GAW don't tend to issue TS's unless they have to which in the last few years has been to report that they're ahead of market expectations. I still believe that Peel Hunt's forecasts (the only market expectations out there) are behind the curve so would expect an ahead update before the YE.

[push n run] 01/3/2019 22:53

My question hasn't changed Nod, although I appreciate your answer in any case.