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Europe

National and regional reports on the European games industry.

588 documents

Cover of Strong Earnings Growth: 2023/24 Full-Year Results

Nacon

Strong Earnings Growth: 2023/24 Full-Year Results

NACON reported a robust financial year for 2023/24, with consolidated IFRS sales rising to €167.7 million from €156.0 million, a 7.5 % increase. Gross profit climbed to €104.2 million, up 13.1 %, pushing the gross margin to 62.1 % of sales. EBITDA surged by 45 % to €70.9 million, translating into a margin of 42.3 %. Operating income grew 20.5 % to €20.9 million, representing 12.5 % of sales, while net income rose 37.3 % to €17.5 million, or 10.5 % of sales. The company’s equity strengthened to €263.6 million, and net debt fell to €85.2 million, reflecting disciplined borrowing and repayment. Key drivers included a heavy new‑game release schedule of 19 titles, notably the successful Robocop: Rogue City™ which lifted catalogue sales by 21.2 % to €59.3 million. Back‑catalogue sales increased 7.4 % to €44.7 million, and accessories revenue rebounded to €62.7 million, buoyed by new hardware launches such as the RIG 600 PRO headset and REVOLUTION 5 PRO controller. Inventory levels were trimmed by €8.2 million, and operating cash flow rose 54.4 % to €73.1 million. Looking ahead, NACON plans a busy 2024/25 release calendar of around 15 games and aims to consolidate its racing‑market presence through a dedicated Racing department, the Revosim by Nacon brand, and new premium peripherals. The strategy positions NACON as a unique provider of integrated racing games and accessories worldwide, with expectations of continued sales and operating‑income growth.

Cover of Interim Financial Report: First Half 2023/24

Nacon

Interim Financial Report: First Half 2023/24

NACON experienced a period of financial recalibration during the first half of the 2023/24 fiscal year, characterized by a contraction in top-line performance alongside strategic operational adjustments. Consolidated revenue reached €67.8 million, representing an 8.7% year-on-year decline. Net income also saw a reduction, falling to €3.2 million from €8.4 million in the prior-year period, largely due to increased depreciation and amortization costs. Despite these pressures, the company achieved a 20.1% growth in EBITDA, reaching €29.3 million, and maintained a robust equity position of €248.7 million. The company operates as a single, integrated gaming entity, balancing revenue streams across video game development, publishing, and accessory distribution. International markets remain the primary driver of business, accounting for 86.9% of total revenue. To better align financial reporting with the extended commercial lifespans of modern digital titles, the group transitioned to a five-year diminishing balance amortization method for game development costs. This shift, combined with the resolution of significant intellectual property legal disputes—which allowed for the release of a €2 million contingency provision—reflects a focus on long-term stability and improved accounting accuracy. Looking ahead, the organization maintains a positive outlook for the remainder of the fiscal year, supported by a dense release schedule and consistent growth within the gaming accessories segment. Financial liquidity remains a priority, evidenced by the successful procurement of €10 million in new loans following the close of the reporting period. By leveraging a balanced portfolio of new releases and back-catalogue titles, the company aims to navigate current market headwinds and capitalize on its integrated business model to drive future performance.

Cover of Universal Registration Document 2023/2024

Nacon

Universal Registration Document 2023/2024

Nacon’s 2023/2024 Universal Registration Document serves as a comprehensive financial and operational disclosure, detailing the company’s position as a specialized "pure player" in the global gaming industry. Headquartered in France and operating under the parent company Bigben Interactive, Nacon integrates video game publishing with the design and distribution of high-performance gaming accessories. The company’s primary thesis centers on a hybrid business model that leverages recurring accessory revenue to fund a robust pipeline of AA video games, aiming for market leadership by 2026 through vertical integration and strategic studio acquisitions. Financial performance for the 2023/2024 fiscal year reflects a period of growth and investment, with revenue rising 7.5% to €167.7 million and operating income increasing by 20.5% to €20.9 million. Digital game sales now account for 49% of total revenue, underscoring the company’s successful transition toward digital distribution. Despite these gains, Nacon maintains a conservative capital allocation strategy, opting to reinvest all net income into development and acquisitions rather than distributing dividends. The company’s financial stability is supported by a strong EBITDA margin of 42.3%, though it continues to manage significant investments in intangible assets and a net debt position of €85.2 million. Operational risks are primarily tied to the commercial performance of high-investment titles, potential development delays, and reliance on third-party console manufacturers like Sony and Microsoft. To mitigate these, Nacon employs rigorous project management, diversified supplier networks, and comprehensive insurance coverage. Furthermore, the company has formalized its commitment to sustainability, targeting carbon neutrality by 2050 through eco-design and supply chain decarbonization. With a stable governance structure and an unqualified audit opinion confirming the accuracy of its financial reporting, Nacon remains focused on scaling its international presence and proprietary intellectual property to navigate the competitive $187.7 billion global gaming market.

Cover of First Quarter 2024/25 Sales: Confirmation of Full-Year 2024/25 Growth Targets

Nacon

First Quarter 2024/25 Sales: Confirmation of Full-Year 2024/25 Growth Targets

NACON reported first‑quarter sales of €32.3 million for the 2024/25 financial year, a 9.0 % decline from €35.5 million in the same period of 2023/24 after adjusting for a partial disposal of Gollum. Gaming revenue fell sharply to €17.8 million, with new‑game catalogue sales dropping 69.4 % to €3.8 million due to a high base in the prior year, while back‑catalogue sales rose 17.9 % to €14.0 million, buoyed by titles such as Robocop: Rogue City and Taxi Life. Accessories sales increased 27.5 % to €13.3 million, driven by strong demand for RIG 600 PRO headsets and REVOLUTION 5 PRO controllers in the United States and Australia. Other mobile and audio sales grew 93 % to €1.1 million. The company projects a rebound in gaming revenue in the second quarter, citing an aggressive release schedule that includes Tiebreak: Official Game of the ATP and WTA, Test Drive Unlimited: Solar Crown, and Greedfall II. The accessories division is expected to remain robust, supported by new premium products under the REVOSIM brand and a growing console installed base. NACON’s capital increase in July 2024 has reinforced its financial position, enabling further investment in the gaming pipeline. The next sales update is slated for 28 October 2024. NACON operates globally with 23 subsidiaries and a distribution network covering 100 countries, employing over 1,000 staff across 16 development studios and a publishing arm that generated €20.9 million in operating income for 2023/24.

Cover of Strong Sales Growth in the Second Quarter of 2024/25: Nacon

Nacon

Strong Sales Growth in the Second Quarter of 2024/25: Nacon

Nacon reported a 38.5 % surge in second‑quarter sales, reaching €44.7 million for the July‑September 2024 period and confirming its full‑year growth targets. Total first‑half sales for the fiscal year rose 13.6 % to €77.0 million, driven largely by a 65.4 % increase in gaming revenue (€27.9 million). Within gaming, catalogue sales doubled (+98.5 %) to €14.9 million, propelled by the launch of Test Drive Unlimited: Solar Crown™ and the strong reception of Ravenswatch™, while back‑catalogue sales grew 38.8 % to €13.0 million thanks to recent titles such as Robocop: Rogue City™ and Taxi Life™. Accessories sales expanded 8.7 % to €15.7 million, with headsets and controllers maintaining momentum in the U.S. and Australia. The company highlighted a robust release schedule for the second half of 2024/25, including new titles across sport, racing, adventure, and simulation genres, as well as several premium accessories such as a REVOSIM steering wheel and a COBRA chair. Nacon’s integrated publishing and peripherals model is positioned to sustain growth and enhance operating income. Geographically, Nacon operates through 23 subsidiaries with a distribution network covering 100 countries. The financial data are presented under IFRS, and the company’s workforce exceeds 1,000 employees. The press release was issued on 28 October 2024 and follows the company’s 2023/24 sales of €167.7 million and operating income of €20.9 million.

Cover of Third Quarter 2024/25 Sales

Nacon

Third Quarter 2024/25 Sales

NACON reported consolidated sales of €52.9 million for the third quarter of its 2024/25 financial year, a decline of 10.3 % from the €59.0 million recorded in the same period last year. Gaming sales fell 23.7 % to €25.4 million, driven by a sharp drop in new‑catalogue releases; catalogue sales dropped 52.9 % to €9.8 million after only one new title, MXGP: The Official Motocross Videogame™. Back‑catalogue sales rebounded 24.5 % to €15.6 million, supporting the company’s strategy of leveraging legacy titles. Accessories sales grew modestly 5.3 % to €25.2 million, buoyed by strong performance of RIG headsets and REVOLUTION 5 PRO controllers in the U.S. and Australia, despite delays of several new accessories slated for 2025. IFRS sales for the first nine months rose 2.5 % to €129.9 million, with gaming down 4.6 % and accessories up 11.1 %. NACON announced a new production plant for gaming accessories in Lauwin‑Planque, France, expected to improve supply chain control and inventory optimisation. The company projects a slight sales increase in the fourth quarter, though operating income may decline due to postponed releases. For 2025/26 first half, NACON anticipates strong growth from new gaming titles, continued back‑catalogue momentum, a busy release schedule, and the launch of Nintendo Switch™ 2 compatible products. The company operates across 100 countries with over 1,000 employees and is part of the Bigben group.

Cover of Universal Registration Document 2024/25: France

Nacon

Universal Registration Document 2024/25: France

Nacon’s 2024/25 Universal Registration Document serves as the official annual financial and strategic report for the French gaming developer and publisher. The company operates through a vertically integrated, hybrid business model that combines the production of "AA" video games—typically niche titles with budgets between €1 million and €20 million—with the design and global distribution of premium gaming accessories. By controlling the entire production chain, from studio development to hardware manufacturing, Nacon aims to create a "virtuous circle" of recurring revenue that mitigates the inherent volatility of the gaming industry. For the fiscal year ending March 31, 2025, Nacon reported stable revenue of €167.9 million, supported by a 4% growth in its accessories segment, which includes brands like RIG and Revosim. However, the company faced financial headwinds, reporting a net loss of €1.75 million compared to a profit in the previous year, largely due to increased depreciation expenses and the postponement of certain game titles. Despite these results, Nacon maintains a robust financial foundation, having secured €46.5 million in new medium-term loans and successfully completing a €16.5 million capital increase. The company’s assets are heavily weighted toward capitalized game development costs, totaling €221 million, and goodwill of €136 million. Risk management remains a central pillar of Nacon’s strategy, with the company identifying development delays and the potential underperformance of high-investment titles as critical threats. To navigate these, Nacon employs a diversified portfolio strategy, rigorous project monitoring, and strategic partnerships with major platform holders like Sony and Microsoft. Furthermore, the company has formalized its commitment to sustainability, aligning its reporting with the EU’s Corporate Sustainability Reporting Directive (CSRD). Nacon has set a goal to achieve net-zero carbon neutrality by 2050, with interim targets to reduce emissions by 30% by 2030, supported by initiatives in eco-design, product repairability, and the repatriation of manufacturing to France. Governance is structured around the Middlenext Code, with a board of nine members overseeing financial integrity and risk management. Looking toward the 2025-2026 fiscal year, Nacon intends to solidify its leadership in the AA games segment through continued R&D investment, the expansion of its hardware portfolio, and a focus on long-term licensing agreements, such as its exclusive rights to the World Rally Championship through 2032. The company’s management remains focused on operational cohesion and maintaining a stable, integrated structure to navigate evolving digital distribution and cloud gaming trends.

Cover of Sales for the 2024/25 Financial Year: Nacon

Nacon

Sales for the 2024/25 Financial Year: Nacon

Nacon reported consolidated sales of €167.9 million for the 2024/25 financial year, essentially flat against the €167.7 million recorded in 2023/24. Quarterly performance varied, with a sharp decline in the first quarter (‑9 %) offset by a 38.5 % rise in the second quarter, followed by declines of 10.3 % and 7.1 % in the third and fourth quarters respectively. Gaming revenue fell by 3.8 % to €97.1 million, while accessories grew modestly by 4.1 % to €65.2 million; the “Other” segment, comprising mobile and audio sales, expanded 38 % to €5.6 million. The fourth‑quarter gaming output was limited to two titles, Rugby25™ and Ambulance Life™, resulting in a 35.8 % drop in new‑game catalogue sales to €9.9 million, compared with four releases and the hit Robocop: Rogue City™ in 2023/24. Back‑catalogue sales, however, surged 46.5 % to €16.1 million in the quarter and 31.2 % for the year, underscoring sustained demand for legacy titles. Accessories sales were constrained by postponed launches of the REVOSIM range and the Xbox Revolution X Unlimited controller, which will debut in 2025/26. Nacon anticipates a sharper growth trajectory for the next fiscal year, driven by an expanded release calendar of over ten new games across sports, racing, adventure and simulation genres, as well as the launch of high‑profile accessories in the first half of 2025/26. Production expansion at a new French controller plant and continued reliance on Vietnamese manufacturing for U.S. inventory are expected to support this outlook.

Cover of Consolidated Sales: Second Quarter 2025-26

Nacon

Consolidated Sales: Second Quarter 2025-26

NACON reports a 4.5 % rise in consolidated sales for the second quarter of its 2025/26 fiscal year, reaching €46.8 million compared with €44.8 million in the same period last year. Total first‑half sales for April–September 2025 amount to €78.1 million, up 1.4 % from €77.0 million in the prior year. Gaming sales dominate growth, increasing by €8.8 million (31.7 %) to €36.7 million, driven largely by a 52.5 % jump in catalogue titles and a modest 7.8 % rise in back‑catalogue revenue. Catalogue releases such as Rugby League 26, Robocop: Rogue City – Unfinished Business, and Hell is Us contribute significantly, with the latter achieving an 88 % user score and over 1.5 million residual wish‑lists. Back‑catalogue sales reflect the strength of NACON’s existing portfolio. The accessories segment, however, contracts sharply by 42.7 % to €9.0 million, largely due to a 66 % decline in U.S. sales caused by higher customs duties. European accessory sales, particularly for Switch 2 and XBOX Revolution X Unlimited controllers, are expected to provide some recovery. NACON anticipates continued catalogue momentum in the second half of the year, with nearly a dozen new titles slated for release, while back‑catalogue activity should remain steady. The company maintains confidence in meeting its 2025/26 annual targets, citing a robust release schedule and new accessory products. The next financial update for the first half of 2025/26 will be issued on November 24, 2025.

Cover of First-Quarter 2025-26 Sales: Nacon

Nacon

First-Quarter 2025-26 Sales: Nacon

Nacon reported consolidated revenue of €31.3 million for the first quarter of fiscal 2025‑26 (April 1–June 30), a slight decline of 2.9 % compared with the €32.3 million recorded in the same period of 2024‑25. Gaming sales, however, grew by 10.4 % to €19.7 million, driven largely by a 46.4 % jump in catalogue sales to €5.6 million, with key titles such as Tour de France 2025 and Pro Cycling Manager 25 contributing 25 % and 35 % sales increases respectively. Back‑catalogue performance remained flat at €14.0 million, meeting expectations. Accessories revenue fell to €10.8 million, a 18.8 % drop largely attributed to a weaker U.S. market and unfavorable year‑on‑year comparison, though European sales showed 22 % growth thanks to Nintendo Switch 2 and XBOX Revolution X Unlimited controller launches. Other revenue, including mobile and audio, decreased by 25.9 % to €0.8 million. The company anticipates robust second‑quarter growth, citing new releases such as Rugby League 26 and Robocop: Rogue City – Unfinished Business, with additional titles slated for the second half of the year. Nacon maintains confidence in meeting its 2025‑26 fiscal targets, citing a strong dual‑business model and ongoing accessory innovation. The next quarterly update is scheduled for 27 October 2025.

Cover of Sales for the First 9 Months of Fiscal Year 2025-26

Nacon

Sales for the First 9 Months of Fiscal Year 2025-26

NACON reported consolidated sales of €124.2 million for the first nine months of fiscal year 2025‑26, a decline of 4.4 % compared with €129.9 million in the same period last year. Total game revenue rose 1.9 % to €25.9 million, driven by a 39.9 % increase in catalogue sales (€13.7 million) from new titles such as Hell is Us, Cricket 26 and Rennsport. Back‑catalogue sales fell 21.8 % to €12.2 million, largely due to a high base and market contraction. Accessories revenue dropped 29.1 % to €17.9 million, with the United States market still impacted by customs duties; the decline eased from 66 % in Q2 to 38 % in Q3. Other mobile and audio sales grew modestly by 4.6 %. Quarterly performance varied: Q1 saw a 2.9 % drop, Q2 grew 4.5 %, while Q3 declined 12.8 %. The company attributes the Q3 downturn to weaker accessories sales, despite strong catalogue momentum. NACON’s outlook for 2025‑26 remains conservative; it now expects activity comparable to the previous year, citing continued catalogue releases (e.g., Styx: Blades of Greed, GreedFall The Dying World) and anticipated accessory sales in Europe, including the Switch 2 and a new RIG R5 PRO HS headset. The company’s 16 studios, AA publishing arm, and peripheral design capabilities underpin its market position across 100 countries through 25 subsidiaries.

Cover of Nacon Announces Insolvency and Judicial Reorganisation Proceedings

Nacon

Nacon Announces Insolvency and Judicial Reorganisation Proceedings

Nacon, a subsidiary of the Bigben Group and listed on Euronext Paris, announced on 25 February 2026 that it has filed for insolvency and requested the initiation of judicial reorganisation proceedings before the Commercial Court of Lille Métropole. The filing follows a liquidity crisis triggered by Bigben Interactive’s failure to repay part of its bond loan after an unexpected refusal from its banking pool. Nacon stated that its available assets are insufficient to meet current liabilities, prompting a rapid financial restructuring with creditors to safeguard operations and preserve jobs. The court‑initiated procedure, known in France as “redressement judiciaire,” freezes existing debts for up to 18 months, allowing the company to present a viable continuation plan. The hearing is scheduled for early March, and until a decision is made, the company’s shares remain suspended on Euronext Paris. Employee representatives were notified of the insolvency filing on 24 February. Financially, Nacon reported IFRS revenue of €167.9 million for 2024/25 and an operating profit of €1.1 million, supported by a workforce of over 1,000 employees across 25 subsidiaries and a distribution network covering 100 countries. The company’s portfolio includes 16 development studios, AA publishing, and premium gaming peripherals, positioning it as a unified entity within the video‑game market. The reorganisation aims to renegotiate debt, protect staff, and secure a sustainable operational future under court supervision.

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