Rebellion Group Annual Report 2021-22: revenue and profits up thanks to Sniper Elite 5

[DarkDetective]

Rebellion Group has deposited its Annual Report for the fiscal year ending 30th June 2022 with the British Companies House.

Revenue: £71.3 million (~$86.4m; +78%)
Gross profit: £22.5 million (~$27.3m; +58%)
Operating profit: £7.6 million (~$9.2m; +426%)
Profit for the year: £12.5 million (~$15.1m; +12%)

Revenue by segment:
- Game publishing sales: £65.3 million (~$79.1m; +85%)
- Publishing sales: £4.6 million (~$5.5m; +16%)
- Film & TV sales: £1.1 million (~$1.4m; +105%)
- Miscellaneous sales: £0.3 million (~$0.4m; +77%)

Staff grew from 433 as of June 2021 to 465 as of June 2022 (+32), of which 297 involved with game development (+11).

The increase from the previous year is a result of a major successful game release in the year.

The Group continues to invest significantly in all key areas of the business including games, film and TV and the Directors are satisfied with the performance for the year. Within the games division, major new releases are planned in the coming years and the back catalogue of titles continues to perform well.

In the publishing division, the vast catalogue of comic and book IP's continue to grow and provide a steady level of turnover and a contribution to the wider Group. The entertainment division is growing rapidly with many film and TV projects in the pipeline and releases planned in the coming years. The asset division continues to provide flexible space for the rest of the Group to florish.

The title referred to above should be Sniper Elite 5.

Spoiler: Images from the document

(Not from the report)
During the fiscal year (1st July 2021 - 30th June 2022), Rebellion has released the following games:
- Sniper Elite VR on 8th July 2021 for Windows, PlayStation VR and Oculus
- Evil Genius 2: World Domination on 30th November 2021 for PlayStation 5, PlayStation 4, Xbox Series X|S and Xbox One
- Zombie Army 4: Dead War on 26th April 2022 for Nintendo Switch
- Sniper Elite 5 on 26th May 2022 for Windows, PlayStation 5, PlayStation 4, Xbox Series X|S and Xbox One

Compared to the following list of releases in the previous fiscal year (1st July 2020 - 30th June 2021):
- Strange Brigade on 1st August 2020 for Google Stadia
- Sniper Elite 4 on 1st November 2020 for Google Stadia
- Sniper Elite 4 on 17th November 2020 for Nintendo Switch
- Evil Genius 2: World Domination on 30th March 2021 for Windows
- Strange Brigade on 15th June 2021 for Nintendo Switch

 

[Gotdatmoney]

Hi @DarkDetective, do you have the link for the financial report? I tried to google it but could only find Rebellion Developments ltd. The financial statement format looks almost identical and it mentions the games industry so I assume there is affiliation but I wanted check something. Alternatively, can you post note 12? Tax on profit doubling their profit for the financial year is something I would want to analyze. Did the tax rate in the UK drop in the last year or two or did rebellion get some major tax credits?

Thanks in advance.

 

[KR_EP]

Stickied thread idea, how & where to search for Private Companies & financial results in various countries with a list of notable privately owned video game developer/publishers. In the meantime, before looking at Rebellion Developments financial results for the year ending 30th June 2022, might be a good idea to provide a brief primer for some background context. Rebellion Developments a private (limited) company so it doesn't have an Investor Relations page as other UK developer/publishers like Frontier Developments. UK Companies House is a government site that enables online submissions & for the public to look up these results, including any person with significant control (PSC) as part of due diligence/general interest.

'We incorporate and dissolve limited companies. We register company information and make it available to the public.'

Our main responsibilities are to:

• incorporate and dissolve limited companies
• examine and store company information
• make information available to the public

Youtube Tutorials: Companies House service: director and company search // How to find company information // Following a company // How to identify a person with significant control (PSC)?
Searching the Companies House register
Companies House data products

Perhaps if we put together a list of privately owned UK video game developers & publishers of interest we can use the website to investigate further. Open Source Intelligence combined with selective use of Freedom of Information requests to gain further insight to the state of UK games industry. Of course this would be more in line with InstallBase having a main site with staff writers but its something to bear in mind as the site (hopefully) expands. At the very least so it becomes less US/Japan centric on the kinds of industry discussions being held.

Hi @DarkDetective, do you have the link for the financial report? I tried to google it but could only find Rebellion Developments ltd. The financial statement format looks almost identical and it mentions the games industry so I assume there is affiliation but I wanted check something. Alternatively, can you post note 12? Tax on profit doubling their profit for the financial year is something I would want to analyze. Did the tax rate in the UK drop in the last year or two or did rebellion get some major tax credits?

Thanks in advance.

Notes 11 (Taxation) & 12 (Impairment) on pages 22-24, if you're looking for details on corporation tax, deferred taxes & tax credit (UK corporation rate is rising to 25% from 01/04/23).

REBELLION DEVELOPMENTS LIMITED

• Filing History
• Annual Report & Financial Statements For the Year Ended 30 June 2022

As to the results themselves, as well as the games listed by @DarkDetective most notably the launch of Sniper Elite 5 in May 2022, there was also the final expansion pack for the 3rd season pass of Zombie Army 4: Dead War for a strong end to an eventful Financial Year which certainly helps to explain the big uptick in its Game Publishing Sales. There was also an undisclosed 8 figure round of funding from HSBC, perhaps this can be very roughly worked out by comparing assets with previous financial reports, not sure I can figure it out how though.

The End Is Nigh As Ragnarök Comes To Zombie Army 4: Dead War (May 2022)

"HSBC UK has supported the business as we prioritise our wider growth strategy," said Rebellion CEO Jason Kingsley. "The new site in Oxford is a key element of this and will allow us to continue to hire additional staff, as well as providing increased space for our offices and creative studios.

"The funding has also allowed us to remain agile and invest in new technology, as we work within an industry that is constantly evolving. Creativity is at the heart of what we do and the support from HSBC UK has given us the freedom to continue to champion this."

HSBC relation director Roger Mould added: "Rebellion is a major developer in the video game industry and we are pleased to support this global business as it continues to grow. The industry provides ample opportunity for innovative companies such as Rebellion to capitalise on an increase in demand. We look forward to continuing this support as the business goes from strength to strength."

GamesIndustry - Rebellion receives funding from HSBC, opens new HQ.

Part of the increase in development staff can be attributed to Rebellion North (formerly TickTock), including widely praised Switch versions & plans to create original projects in the future.

How Rebellion North are spreading their wings with best-in-class ports and original projects
Our "Sniper Elite 4" Journey: Lessons in Porting AAA Action Games to the Nintendo Switch

Sniper Elite 3 Ultimate Edition: Switch vs PS4 Tested - A Superb Conversion!
Zombie Army 4 - Switch vs PS4 - A Next-Level 'Impossible Port' - DF Tech Review

It should also be noted that in its Rebellion 30th Anniversary news story there is mention of player numbers but also signs its long term plans to diversify will begin to bear fruit in future reports.

Sniper Elite 5
'The Snipers among you will know that this year has been a BIG one for the Sniper Elite franchise with the latest instalment, Sniper Elite 5, launching on the 26 May. With over 5 million players and over 10 million of the famous testicle shots to date, there’s really nothing this community can’t do.'

2000AD
We also launched the new Best of 2000 AD series, which hit #3 in the bestseller list, as well as collections such as The Out, Brink, and our all-ages series, 2000 AD Regened!

Unplugged
On the board game side, we’ll be bringing Joyride: Survival of the Fastest to Kickstarter in the first half of the year. This fast-paced racing game sees players do whatever it takes to beat their opponents through the gates and to the finish line, whether that be through skilful driving or crushing collisions. First one over the finish line wins, and sometimes the fastest route is through everyone else!

Audiomotion
Whilst Audiomotion hasn’t been part of the Rebellion family for all of the 30 years, we are extremely proud of what we’ve achieved and even more excited about what is still to come! The main highlight for 2022 has been relocating to Rebellion Film Studios in Didcot. We now have one of the largest spaces available for motion capture meaning we have room for more clients, prop building and space to change our volume to meet client needs.

We recently hosted a total of 50 performers and clients. This is something that would have been near impossible in our old office. With the effects of the pandemic decreasing we have finally been able to welcome clients, both new and old, into the studio, along with two of the cutest performers we know: Simba and Bonnie (see below).

Rebellion Film Studios
2022 was an exciting year for the Studios as we had the sci-fi action horror movie The Experiment filming here, starring Rhona Mitra, Famke Janssen and Stefanie Martini. This is currently in post-production and due to release in 2023.

2022 also saw the release of Channel 4’s Richard Hammond’s Crazy Contraptions which was recorded here at the Didcot Studio. The Studio also did post on the Limited Sky TV series The Fear Index and the upcoming Amazon series Three Pines starring Alfred Molina coming to your screens in December.

For 2023 we look forward to the release of the upcoming Apple TV/HBO American war drama miniseries Masters of the Air which based it’s unit in Didcot.

Publishing
We began the year with Edward Ashton’s Mickey7, named one of the Best summer books of 2022 by The FT, which is currently being adapted by Oscar-winning director, Bong Joon-ho!

30 Years of Rebellion

As for its current Financial Year (1st July 2022 - 30th June 2023), there's no major release planned however the full year of Sniper Elite 5 sales, including its Season Pass should figure heavily as should its extensive back catalogue as part of its 30th Anniversary Sales. Plus its good to see all the soundtracks being released over the past year. Sniper Elite 5 has Season 2 due in 2023 & it should be noted that post-launch support is being handled by Flix Interactive - the studio also worked on Zombie Army 4, introduced itself & its work here. In other words, in-house staff will have new projects yet to be announced, I'm also wondering if Just Add Water Development shall be contracted to port Sniper Elite VR to PSVR2. Although with the passing of its founder, & announcement of A New Beginning it might not be in a position to do so. However it would make sense to port Battlezone Gold Edition & Arca's Path VR to PSVR2 & I'd like to see Rebellion adapt more of its 2000AD. If its working on securing film rights to novels published, would be great to see if any of them could be made in games as well. (edit: typos, images, links).

 

[DarkDetective]

Hi @DarkDetective, do you have the link for the financial report? I tried to google it but could only find Rebellion Developments ltd. The financial statement format looks almost identical and it mentions the games industry so I assume there is affiliation but I wanted check something. Alternatively, can you post note 12? Tax on profit doubling their profit for the financial year is something I would want to analyze. Did the tax rate in the UK drop in the last year or two or did rebellion get some major tax credits?

Thanks in advance.

KR_EP's post above basically answers your question on where to find the document. For the UK, the website is an official one from the government, but for other countries, like Denmark and Sweden, I use third-party websites that I don't link to because I don't want to risk them being taken down.

As for note 12, see spoiler.

Spoiler: Images from the document (note 12)

 

[KR_EP]

Let's see if we can awake @DarkDetective Conan from their slumber with a Rebellion revival (oh & Frontier Developments pinched my idea of bringing F1 Manager 2023 forward a month). During an exchange between @awng782 & @Welfare a GamesIndustry article on the European Market Report from May 2023 was posted. Ostebsibly it was to clarify hardware sales figures, but tucked away in the fiery depths of streaming hell were Rebellious Developers streaming in the dead of Thursday nights (well 8pm BST). Sniper Bollock Bursting Shots never get old huh.

Sniper Elite 5 enjoys streaming success

Data from Sparkers stream tracker, Audience, which tracks worldwide streaming on Twitch, YouTube Gaming and Facebook Gaming found that during May, Sniper Elite 5 (one of the few new releases last month) had over 50,432 hours broadcast with 1.9 million hours watched.

This made for an average of 37 hours watched for every hour live streamed. This is based purely on the six days it was on sale for during May.

Last month, the average hours watched for Sniper Elite 5 was three times higher compared to Lego Star Wars: The Skywalker Saga which released on the April 5, Sparkers has revealed. However, it was 61% lower than the average hours watched for Nintendo Switch Sports, which released on the April 2

Source: Nintendo Switch Sports is Europe's biggest game of May | European Market Report by Christopher Dring Head of Games B2B. Published on June 9, 2022.

New release last month? Make that last year! No idea how Sniper Elite 5 may have gotten a such a Falcom Punch Fist Bump, was it the March release on Epic Games Store alongside Season Pass Two (see details below). Either way alongside Rebellion winning the MCV/Develop Legend Award in early May, the company acquired the Flying Buffalo role playing back catalogue.

Introducing: Rebellion Late Night​

Due to popular demand, Rebellion’s Community team are pleased to announce a brand new monthly streaming slot called Rebellion Late Night. The more regular streams will take place on the third Thursday of every month at 8pm BST and promise more opportunities for our community to get involved, more giveaways and plenty of regular game rotations to really embrace the Rebellion back-catalogue like never before.

Our official Twitch page: Twitch.tv/Rebellion_Official
Our official Discord: https://discord.gg/rebellion

SNIPER ELITE 5 | ROUGH LANDING DLC MISSION & FREE TRENCH WARFARE WEAPONS PACK​

Sniper Elite 5 Season Pass Two has LANDED! We're kick-starting the season with the thrilling new campaign mission ‘Rough Landing’ as well as two authentically recreated iconic weapons, the MUCH-requested Mosin-Nagant rifle and the Sjögren shotgun.

To celebrate the start of our Season Pass Two content drops and Sniper Elite 5's launch on the Epic Store, we've also just released a brand new Trench Warfare Weapon Pack for free across all platforms (available to download separately), including the Axis blitzing Carl Gustav M/1945 SMG, the show-stopping Trench Gun and the small but ever deadly Double 1866 pistol.

Rebellion acquires trailblazing Tunnels & Trolls Tabletop Roleplaying Game​

“Tunnels & Trolls is an unrecognised trailblazer in the games industry”, said Duncan Molloy, head of Rebellion’s tabletop imprint Rebellion Unplugged. “The team at Flying Buffalo responded to an entirely new medium by focusing on how roleplaying could be more approachable, more accessible, and more fun. So much of the modern era of roleplaying from old school hacks, to streamlined systems, to solo play, can directly trace its roots directly back to this series. We’re very excited to channel that spirit in bringing Tunnels & Trolls into the modern era.”

As part of the acquisition Rebellion have taken over Flying Buffalo’s entire line of roleplaying games, including the cult classic Citybook, Grimtooth, and Merchants Spies and Private Eyes series. The entire back-catalogue of Flying Buffalo PDFs will remain available to purchase online, with future releases coming directly from Rebellion Unplugged. 

Check out our Tunnels & Trolls page over at rebellionunplugged.com for all the latest details.

While the press release mentions it being handled by its tabletop division Rebellion Unplugged, as with its 2000AD comics & genre literature (Rebellion Publishing), would like to see more game adaptations. Bringing it back around to its recent titles, I'm sure Rebellion Development could rework Strange Brigade & Sniper Elite drawing upon its Treasury of British Comics serials.