1st Half 2022/23 Sales

Key insights

6 takeaways · ~2 min read

01
NACON will miss its FY 2022-23 targets of €250 million in sales and €50 million in operating income, despite anticipating year-end growth relative to the prior year.See it on page 2
02
Total first-half sales reached €77.5 million, a 6.2% increase year-over-year, driven by a 72.3% surge in game revenue to €47.0 million.See it on page 1
03
Accessories revenue dropped 34.7% to €28.6 million, primarily due to a global headset market downturn and a high base effect, particularly in the United States.See it on page 1
04
New release catalogue sales grew 130% to €25.4 million, while back-catalogue sales increased 33% to €21.6 million.See it on page 1
05
Quarterly performance was inconsistent, featuring a 25.8% rise in Q1 (€42.4 million) followed by a 10.6% decline in Q2 (€35.2 million).See it on page 1
06
The company expects to bolster second-half performance through upcoming releases including WRC Generations, Blood Bowl 3, Chef Life, Clash, and Transport Fever 2 Console Edition.See it on page 1

Summary

NACON reported first‑half sales of €77.5 million for FY 2022‑23, a 6.2 % increase over the same period in 2021‑22. Quarterly performance showed a strong 25.8 % rise in the first quarter (€42.4 million) followed by a 10.6 % decline in the second quarter (€35.2 million). Game sales dominated revenue, rising 72.3 % to €47.0 million; catalogue (new releases) grew 130 % to €25.4 million, while back‑catalogue sales increased 33 % to €21.6 million. Accessories revenue fell sharply by 34.7 % to €28.6 million, reflecting a high base effect and a global headset market downturn; mobile and audio sales remained flat.

Geographically, the decline in accessories was most pronounced in the United States. The company highlighted upcoming releases—WRC Generations, Blood Bowl 3, Chef Life, Clash, and Transport Fever 2 Console Edition—expected to bolster catalogue sales in the second half. Despite a shortfall against forecasted catalogue targets, NACON anticipates year‑end sales and operating income to rise relative to the prior year due to back‑catalogue strength, though it will miss FY 2022‑23 targets of €250 million in sales and €50 million in operating income.

Looking ahead to FY 2023‑24, NACON expects growth driven by late‑year releases feeding the back catalogue and a diversified publishing slate. The company maintains confidence in its medium‑term prospects, citing synergies from its 16 studios and a global distribution network of 23 subsidiaries.