



The Future of Games Days and Games Workshop

Part 15: "A good year": GW profit down 42%, Kirby steps down.





A very quick post





If you have read all of our epic walls of text on the future of Games Days and Games Workshop, the phrase "ain't nobody got time for that" should ring a bell.



While Mati is still on vacation for another week, Ben has just returned from his - and we have our own plans on taking over the Universe - so we are quite busy at the moment.

But now that the financial report 2013-2014 for GW is out - and 'black snow' has fallen on the 'bubble-boys' (really, you don't know what I am talking about? Read parts 1-14!), I just want to give you a quick update an what's what in the financials.





The wall of text and analysis of the financial report will follow. And I am thinking of a final post/show/whatever to wrap up the rather bleak developments at Games Workshop and this epic-mini-series soon™.





42 IS the answer - I told you so!





For about a year and a half I have been analyzing what is going on at GW, always warning the GW management not to put their hand on the hot stove. Of course they didn't listen. Again and again. So I don't really feel sorry for them. I feel sorry for everyone at GW who's not in management. Those are the good guys.





In part 14 of our mini-series , I tried to see what the crystal ball had to say on how much profit GW would lose in this year's financials. And I estimated it to be 42%.





Turns out that profits are down 42%. OK, some may say it was a lucky hunch, but I am gonna say: "I told you so." :D





For your own financial analysis check out GW's 2013-2014 Financial Report here.





The master-bubble-boy speaks and steps down.





Tom Kirby, chairman and acting CEO of Games Workshop said:

“Games Workshop has had a really good year. If your measure of 'good' is the current financial year's numbers, you may not agree. But if your measure is the long-term survivability of a great cash generating business that still has a lot of potential growth, then you will agree.”





Here is what I respond to Mr. Kirby:

"No. Nobody agrees. Not your shareholders, not your customers, not your fans, not your stores, not your traders, not your employees. GW had a horrible year.

Instead of growing your business and our community you are now talking about survivability of GW. I award you no points and may the deity of your choice have mercy on your soul.

GG."

I recommend you all read the Financial Report and the Chairman's Preamble. You will see that (as always) not everything is black-and-white. I will follow up with a more comprehensive discussion of the financial report sometime this week, I hope. I might even have a 'professional analyst' look at the numbers for you.





But there is a silver lining on the horizon. Tom Kirby will step down on January 1st, 2015:

"On the first of January next year I will be stepping down as CEO of Games Workshop. I intend staying on as non-executive Chairman (if the board will have me), so those of you who want to see an end to these preambles (rhymes with rambles), don't get your hopes up just yet."

Yeah... 'rambles'... OK, I do have something in common with him after all. :P I'll talk more about what I think needs to happen after Tom Kirby is gone in another EPIC wall of text with the full analysis of GW's good year.





Yo, Kirby. 42! Told you.



The End of Painting Buddha is near :D



If you have seen our this week! If you have seen our BEEBLE・BABBLE #12 with Infamy Games' James Griffiths , you will not be as shocked about this heading as much - it's not what it seems! But I urge you to stay tuned to our Facebook page as we have some rather exciting and cool news









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