Games Workshop Share Discussion Threads

[nod] 10/1/2023 07:55

We have not signed any contracts in the period reported. We have agreed, in principle, to explore opportunities to exploit our IP with Amazon Studios. We announced this in December 2022 after the half year period. We have nothing more to say at this stage. We will keep you informed.

[nod] 10/1/2023 07:43

Games Workshop Group PLC announces that the Board has today declared a dividend of GBP1.30 per share, in line with the Company's policy of distributing truly surplus cash. Including this dividend, total dividends declared in the year so far are GBP2.95 per share (2021/22: GBP1.65 per share, as at January 2022). The dividend of GBP1.30 per share will be paid on 24 February 2023 for shareholders on the register on 20 January 2023, with an ex-dividend date of 19 January 2023. The last date for elections for the dividend re-investment plan is 3 February 2023.

[epo001] 09/1/2023 17:46

On the website tap the arrow next to the user name and select Filter.

[nod] 05/1/2023 03:25

Alliance News always tries to generate new customers with its eyeball grabbing headlines. The company results may be good but if the share price drops a bit then the drop becomes the Alliance headline.

[cambst] 04/1/2023 11:33

Agreed on the probable market reaction to any declaration below 65p. Analysts seem to have a hard time getting to grips with this dividend model. Would also be interested to know why the 2nd November dividend arrived when it did. Please do keep us posted on what you can work out from the accounts (This kind of thing largely goes over my head).

[cockerhoop] 04/1/2023 08:54

I agree there will probably be a dividend announcement but having paid £1.65 this year so far (compared to £0.65 at the same time last year) I'm not necessarily expecting it to be greater than last years 65p.
I'll be looking at the interim accounts to try to ascertain the reason for the 2nd November dividend (declared whilst the 1st Nov dividend had yet to be paid - something i've not seen before). It felt like the company received an unexpected cash inflow which they immediately passed on.

Frustratingly if the dividend is less than 65p we'll probably get claims of 'GAW have cut the Interim dividend' in the press and from Stemis on this board ;-)

[cambst] 04/1/2023 08:39

I wonder if this continued strong upward movement is in anticipation of the half-year report on 10 January? I think it is reasonable to anticipate a dividend announcement, and wonder if anybody has an idea what level we should be looking at? I would imagine that the market will appreciate anything in line with or above last year's 65p. Of course, given the approach of distributing truly suplus cash, GAW dividends are difficult to predict.

[nod] 23/12/2022 05:48

I see on the Warhammer video channel that they are releasing Space Marine Classics - many -Made to Order- from Christmas Day.

[cockerhoop] 22/12/2022 07:44

My view remains the investment in design studio relates to the core business, any costs associated with royalty revenues will be included in the licencing operating costs (£2.6m for FY22)

I asked questions prior to the virtual Agms regards progress of Eisenhorn and received pretty curt 1 line replies suggesting it had stalled.

This entertainment paragraph in AR FY22 heralded the new direction:

Entertainment
It is our intent that any new partner/s will become the home of Warhammer on screen for many years to come. We acknowledge that given that they will need sufficient time to invest and deliver the quality we believe our IP deserves. A greater slice of our IP and direct access to the experts in our IP development team will allow them to invest in Warhammer with the confidence that they have our full support on the interpretation of the IP. We will keep you updated with any significant progress.

[nod] 22/12/2022 01:37

I see that all the information on IMDB about the Eisenhorn TV series has been removed. The only information given today is that it is USA show.

[nod] 21/12/2022 22:59

Design We design all of our products at our HQ in Nottingham. Employing 284 people, the design studio creates all the IP and all the associated miniatures, artwork, games and publications that we sell. Annually, these specialist staff produce hundreds of new sculpts, illustrations, rules, stories etc. enabling us to deliver new products every week and continue to keep our customers engaged and excited. In 2021/22 we invested £16.7 million in the studio (including software costs) with a further £5.7 million spent on tooling for new plastic miniatures. We are committed to investing in these areas at an appropriate level every year.

[nod] 21/12/2022 22:57

Page numbered 2 in the Annual Report of July. Section headed Design.Gives an overview of what the Design Studio includes.

[cockerhoop] 21/12/2022 20:14

Nod,
Have you got a reference directly linking the investment in the design studio to internal script writers and designers for Eisenhorn as this is not my understanding of how the process works (I could be wrong).

I thought GAW had employed Frank Spotnitz of Big Light Productions to showrun and executive produce the series (perhaps with Dan Abnett consulting). I'm not sure investment in a full script would have occurred until it was sold to the broadcaster which GAW suggested hadn't occurred.

Fast forward to the current deal it is Amazon who are preparing development activities before signing the contract.

[nod] 21/12/2022 19:12

In 2021/22 we invested £16.7 million in the design studio (including software costs). Some of this investment was for script writers and designers for the Eisenhorn film, led by Dan Abnett.

[cockerhoop] 21/12/2022 17:05

Stepone,

They paid $250m for the appendices of LOTR! They have obtained the 40k licence after competition from other interested parties so will have had to pay the market rate.

No one knows the structure of the contract but IFRS15 will force GAW to book any guaranteed royalties on signing.

[stepone68] 21/12/2022 16:21

"Presumably Amazon will pay them a large amount up front that would be dividended out as per policy"

Hate to inject a dose of realism, but I seriously doubt Amazon are paying a large amount up front, and I'm pretty sure the ongoing royalty will be small as well (in percentage terms). If you want to deal with Amazon you have to do it on their terms, and they are not in the habit of giving money away :-)

Cheers
StepOne

[cockerhoop] 21/12/2022 14:52

I don't think Henry Cavill was interested in playing Eisenhorn - when asked a couple of years ago he suggested there were more interesting and enduring 40K roles he'd prefer.

[smcni1968] 21/12/2022 14:15

Presumably Amazon will pay them a large amount up front that would be dividended out as per policy?

[nod] 21/12/2022 03:10

I would guess the Amazon project will swallow-up the Eisenhorn film. GW scriptwriters have been working on the Eisenhorn film series for a few years. Eisenhorn was mentioned in the January half-year report but not in the full-year report in July. The latter report refers to Media projects but doesn't seem to specifically mention Eisenhorn. It has been said that Henry Cavill would like to act as the Inquisitor Gregor Eisenhorn.

[nod] 21/12/2022 01:09

Yes. Revenge of The Geek.

[givmesunshine] 20/12/2022 09:32

Nice article in Forbes ...