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Games Workshop Full Year Results 2019


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58 replies to this topic

#51
Blindhamster

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0.22% growth in sales in Australia.

I'm shocked. down.gif

This basically says most of us here got sick of the ridiculous price gouging and simply walked away. The FW price change was the last straw for me in terms of models. Now just finishing up reading the horus heresy and I will be done with gw .

It actually doesn't though? There was still growth not loss, suggesting that overall they still made more. Albeit barely?
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Primaris Blood Angels: Wins 4 Draws 0 Losses 2

Blood Angels 3rd Company Wins 25 Draws 5 Losses 13

Heresy Blood Angels: Wins 4 Draws 0 Losses 2
Blood Angels 4th company: Wins 10 Draws 3 Losses 4

 

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#52
Marshal Rohr

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0.22% growth in sales in Australia.

I'm shocked. down.gif

This basically says most of us here got sick of the ridiculous price gouging and simply walked away. The FW price change was the last straw for me in terms of models. Now just finishing up reading the horus heresy and I will be done with gw .
It actually doesn't though? There was still growth not loss, suggesting that overall they still made more. Albeit barely?
They won’t know what effect the price gouging outside the UK had until next year. It doesn’t seem like they measure lapsed customers for these reports so there won’t really be a way to tell how many people quit.

Edited by Marshal Rohr, 13 August 2019 - 11:15 PM.

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#53
MegaVolt87

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0.22% growth in sales in Australia.

I'm shocked. down.gif

This basically says most of us here got sick of the ridiculous price gouging and simply walked away. The FW price change was the last straw for me in terms of models. Now just finishing up reading the horus heresy and I will be done with gw .
It actually doesn't though? There was still growth not loss, suggesting that overall they still made more. Albeit barely?
They won’t know what effect the price gouging outside the UK had until next year. It doesn’t seem like they measure lapsed customers for these reports so there won’t really be a way to tell how many people quit.

 

 

Nah, no way GW can model the projection off past info. Its just they didn't really mention it outside of the numbers themselves this past year. Like I said previous, they must have a lot planned for 2020 to turn it around in their minds. New Space Marines will only get them so far, there has to be more to it.  


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#54
StruManChu

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I do feel somewhat for GW in terms of Australian/NZ sales. Australia's duties and taxes are not friendly to importers, so if they really want to be able to drop the price, or at least bring it slightly more in line with the rest of the world, they need a manufacturing plant in Australia. But that's not going to happen for >1% of annual sales, because it's just not worth the investment.

It's a catch 22. You don't get the sales because the prices are too high, but you can't drop the price because you don't have the sales. An Australian factory/plant could supply into Asia if the Asian market improves, but realistically if that happens they'd be more likely to look at China for a factory, which doesn't help the Australian/NZ pricing at all.

Stru is correct.

 

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#55
MegaVolt87

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I do feel somewhat for GW in terms of Australian/NZ sales. Australia's duties and taxes are not friendly to importers, so if they really want to be able to drop the price, or at least bring it slightly more in line with the rest of the world, they need a manufacturing plant in Australia. But that's not going to happen for >1% of annual sales, because it's just not worth the investment.

It's a catch 22. You don't get the sales because the prices are too high, but you can't drop the price because you don't have the sales. An Australian factory/plant could supply into Asia if the Asian market improves, but realistically if that happens they'd be more likely to look at China for a factory, which doesn't help the Australian/NZ pricing at all.

 

A plant in China would make more sense, with a subsidiary company branch based there. Not up with current trade deals with China, but last I heard OZ and China had more relaxed tariffs between them. Won't happen though GW has planted their flag for UK production as an image/brand thing. People would be more rabid if the production was in Asia with the current price structure. Being based in Europe, they get some justification there for how they conduct themselves. 


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#56
FelipeFlops

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I should have given this update sooner. I met management following the results. Most of it was usual running of business detail, but a couple of relevant things did come up;

 

Australia - Sad to say but don't expect any price updates here. GW are still using a pricing model that was put in place c.20 years ago. If they were to update to current currency rates, it would have a significant cash cost associated with it (warehousing and other costs, estimated at c. £5m cost) which management don't feel is worth it considering the addressable market in Aus, would rather be investing that cash into new growing markets.

 

TV Shows - Sounds like they have been getting approaches for licencing rights for years, but the offers have not been financially attractive. By the tone of things, production companies are more willing to give GW better deals which is why we are now seeing various media offerings appear.

 

Sylvaneth Release Delay - Shipping to the US was the issue behind this. When GW product gets sent over from the UK is goes in containers with other related products (model trees from third party producers were the example given). These third party products were held at customs for tariff related reasons, though they held entire container contents until resolution, hence the delay. Management consider this to be a one off and don't expect any other issues.


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#57
Brother Casman

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Deep discussions about Brexit and free trade with Australia are not remotely on topic. This is to discuss GW's financial report for 2019, and that alone.
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In the operations of war, [...] the expenditure at home and at the front, including entertainment of guests, small items such as glue and paint, and sums spent on chariots and armor, will reach the total of a thousand ounces of silver per day. Such is the cost of raising an army ...


#58
Ishagu

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But then what about all the discussion above about building plants in other countries to circumvent tax to Australia and New Zealand? Are the rules different for other forum users?

I assumed that the topic had moved on, which is a fair assumption after the last page of conversation about tariffs. I would like to see multiple posts get deleted if that conversation is off topic. I made no deep discussion about Brexit - just a comment about possible drops in tariffs in the future, backed up by an actual news report.

Edited by Ishagu, 14 August 2019 - 11:13 AM.

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#59
Brother Casman

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To be fair, Ishagu, the topic is probably played out. I'm going to lock this up - should we get new news, or perhaps if N1SB does their usual deep dive into the financial analysis, then report the topic and the moderation team can look into reopening it.
Active Projects: The Great Repaintening! - follow along on my journey to repaint a Blood Ravens army. | Adeptus Titanicis: Legio Metalica - a slow-grow plog of tiny titans and tinier knights.
Finished Projects: Brother Casman's Waaagh! - All of my Orks... for now. | Brother Casman's Terrain Extravaganza! - Getting the "Third Army" on the battlefield

In the operations of war, [...] the expenditure at home and at the front, including entertainment of guests, small items such as glue and paint, and sums spent on chariots and armor, will reach the total of a thousand ounces of silver per day. Such is the cost of raising an army ...





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