Key insights
8 slides
Top line
First-half sales reached €77.5 million, up 6.2% year-over-year.
NACON reported first-half sales of €77.5 million for FY 2022-23.
Quarterly split
Q1 rose 25.8% while Q2 declined 10.6%.
The first quarter saw a strong 25.8% rise to €42.4 million. The second quarter followed with a 10.6% decline to €35.2 million.
Games vs. accessories
Game revenue surged 72.3% to €47.0 million.
Game sales dominated revenue, rising 72.3% to €47.0 million. This growth was driven by new releases and back-catalogue strength.
Game growth. Game revenue rose 72.3% to €47.0 million in the first half.
Accessories decline
Accessories revenue fell 34.7% to €28.6 million.
Accessories revenue dropped sharply. The decline was most pronounced in the United States.
Target shortfall
NACON will miss its FY 2022-23 sales and income targets.
The company anticipates year-end sales and operating income to rise relative to the prior year. However, it will miss targets of €250 million in sales and €50 million in operating income.
Second-half catalysts
Upcoming releases are expected to bolster second-half catalogue sales.
These are expected to bolster catalogue sales in the second half.
Upcoming titles. Upcoming releases including WRC Generations, Blood Bowl 3, Chef Life, Clash, and Transport Fever 2 Console Edition are expected to bolster second-half catalogue sales.
Page 1 of the report- 01WRC GenerationsUpcoming release
- 02Blood Bowl 3Upcoming release
- 03Chef LifeUpcoming release
- 04ClashUpcoming release
Medium-term view
NACON expects FY 2023-24 growth from back catalogue and publishing slate.
Looking ahead to FY 2023-24, NACON expects growth driven by late-year releases feeding the back catalogue. The company cites synergies from its 16 studios and a global distribution network of 23 subsidiaries.
New vs. back
New releases grew 130% while back-catalogue rose 33%.
New release catalogue sales grew 130% to €25.4 million. Back-catalogue sales increased 33% to €21.6 million, showing strength in both segments.
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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.
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