Annual Report and Accounts 2016

Poised to successfully complete our business transition

Annual Report and Accounts 2016

Annual Report


Frontier Sign

Poised to complete business transition

  • Substantially, all Group revenues in the period were derived from self-publishing activities, which was up 13% at £21.0 million (FY15: £18.6 million). In addition the deferred income balance rose by £1.5 million to £2.2 million.
  • Good progress was made during the period towards the strategic objective of self-publishing multiple revenue generating franchises. There was continued investment in the Group’s transition with Elite Dangerous revenues used to fund development of both Planet Coaster and further Elite Dangerous franchise development.
Planet Coaster park

Second franchise on track

  • Alpha builds of the Group’s second franchise, Planet Coaster, were released to early adopter customers and the game remains on track for launch on 17 November 2016.
Elite Dangerous ship

Elite Dangerous audience expanded

  • The Group expanded the audience for Elite Dangerous by releasing on Microsoft’s Xbox One, and supporting the consumer launch of the two major PC Virtual Reality systems.
  • New Elite Dangerous products were introduced to cover all main price points: Elite Dangerous: Horizons is a paid-for seasons pass of expansions to extend the Elite Dangerous game, and Elite Dangerous: Arena is a low-priced entry point offering instant action player-vs-player combat.
Planet Coaster ride

Frontier’s player numbers grow

  • The total Elite Dangerous franchise unit sales increased by over one million during the year, and are currently around 1.8 million.
  • Planet Coaster exceeded the Board’s expectations, with around 25,000 unit sales during the period and 50,000 to date.

Net cash balance (£M)



Revenue (£M)



Operating Profit (£M)









Deferred Income (£M)



Adjusting Operating Result* (£M)



Adjusted LPS/(EPS)* (P)



* See the PDF download of our Strategic Report and page 24 for the reconciliation to the operating profit.

Chief Executive's Statement

"We have delivered another great year of progress towards our goal of earning revenue from multiple self-published franchises."

David Braben OBE Founder and CEO

We have had our first full year with Elite Dangerous, selling over one million franchise units in the period. At the same time we have made great progress with our second franchise Planet Coaster, releasing its first and second ‘alpha test’ versions to the public towards the end of the financial year, with the third ‘alpha test’ version released since the close of the financial year.

David Braben OBE, Found and CEO

"The financial year to 31 May 2016 (FY16) represents a year of continued good progress in our transition to a multi-franchise, self-publishing company."

David Gammon Non-Executive Chairman

For the first time substantially all our revenue has come from self-published titles: Elite Dangerous and Planet Coaster (in Alpha). We have transformed a business-to-business enterprise into a business-to-consumer organisation in the space of two years.

In FY17, we will launch our second franchise, Planet Coaster, and as a result will complete our strategic transition to self-publishing multiple revenue generating franchises.

David Gammon, Founder

Our Strategic Priorities


Transition to self-publishing

Frontier has been shifting to a self-publishing business model using digital distribution channels, and has grown end-customer facing facets of the organisation such as marketing, community and customer support as well as re-focusing its development staff to self published projects.


Repeatable model over multiple franchises

Frontier invests its development resources in games with strong franchise potential. In order to maximise the return on its core skills and assets Frontier has targeted game genres in which the company has established expertise and intellectual property.


Elite Dangerous franchise

Elite Dangerous is now in its second year of release, and made its debut on Xbox One. Horizons and the base Elite Dangerous game continue to sell steadily, with regular updates adding to the quality of the game, renewing the interest of existing players, and driving new sales.


Planet Coaster franchise

Planet Coaster draws on our extensive past experience in the 'Tycoon' genre, and in coaster park games. Feedback from the Alpha builds of Planet Coaster is very positive, with social media 'footprint' tracking significantly higher than Elite Dangerous at the equivalent time in the development cycle.


Full annual report and accounts 2016

Annual Report

The games industry is transitioning into the world’s premier form of entertainment. Frontier has a proven track record of progressive development in video games spanning several decades of rapid technological change.

Annual Report