Wakefield-based Team17 Group plc, a developer of video games and educational entertainment apps, published a strong trading update for the 12 months ended December 31, 2024, and announced a rebrand of the company to Everplay Group plc.
The firm’s shares rose as much as 15% to around £2.75 to give the company a stock market value of about £400 million.
“The group continued to trade well in H2 2024, driven by an improved performance from new releases and another excellent performance in the back catalogue across the group,” said the Wakefield firm.
“Trading over the Christmas period was strong, and we have seen this encouraging momentum continuing into January.
“As a result, we expect to deliver FY 2024 revenues and adjusted EBITDA slightly ahead of market expectations.
“The group expects to report its results for the year in March 2025 when we look forward to providing further insight into the group’s operational and financial performance, exciting schedule of new releases and future strategic plans.”
On the change of the company name to Everplay Group plc, the firm said: “Today we are delighted to share the rebranding of the group, reflecting the evolution of the business following its IPO in 2018.
“The group now comprises three distinct divisions operating across complementary markets within the video games and apps industry.
“Everplay provides the group with a name that reflects its purpose to never stop playing, as well as its creative drive to deliver a lifetime of play.
“The change enables Team17, StoryToys and astragon to continue to operate under their highly distinctive brand identities whilst maximising operational synergies and cross-selling opportunities across the wider group and avoiding any confusion between the Group and the Team17 division …
“As previously outlined, the group’s strategic focus is to accelerate growth alongside improving profitability and return on investment.
“To that end, the group continues to focus on the wealth of opportunities in the indie, childrens and working simulation markets by launching exceptional new games.
“At the same time, we focus on driving back catalogue sales by prioritising our portfolio and evergreen franchises, while adopting innovative publishing and marketing models to maximise discoverability and appeal in the marketplace.”
Everplay Group CEO Steve Bell said: “I am delighted with the strong end to the year’s trading, and the momentum into 2025, which is further evidence of the success of our refocused strategic initiatives. I am grateful for the dedication of all our employees, whose continuing hard work has helped grow our revenues in 2024 to another all-time high. I look forward to sharing greater insight into our exciting plans for 2025 at the full year results in March.
“I am also excited to be unveiling our new group brand today, which we believe better represents our business which has evolved greatly since the IPO and reflects our DNA to never stop playing.
“This rebrand not only creates an ideal backdrop to foster greater cross-collaboration internally, but also reflects our aspirations to expand our reach across complementary sectors within the broader indie market.
“Fundamentally, we want to create pioneering and captivating experiences that enrich and inspire players around the world, and I firmly believe everplay will become synonymous with creating games that deliver a lifetime of play.”