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Financial
Sales for First Half of FY 2020/21
Nacon experienced significant financial growth during the first half of the 2020/2021 fiscal year, covering the period from April 1 to September 30, 2020. Total sales reached 86.6 M€, representing a 35.9% increase compared to the previous year. This growth accelerated in the second quarter, which saw a 46.4% rise in turnover to 48.6 M€. The primary driver of this performance was the accessories segment, which surged 118% to 51.6 M€ for the half-year. This expansion was fueled by strong demand for premium RIG headsets in the United States and steady sales of official PlayStation 4 controllers. The gaming software division reported mixed results, with total half-year sales down 13.1% to 32.8 M€ due to a high basis of comparison from major releases in the prior year. However, the second quarter showed signs of recovery with a 3.0% increase, supported by the launches of WRC 9 and Tennis World Tour 2. Digital sales now account for 72% of total game revenue, bolstered by a 242% increase in back-catalogue performance. Geographically, the company maintains a global presence with 17 subsidiaries and distribution across 100 countries, focusing on the AA video game market and premium peripherals. Looking forward, the outlook remains positive as the industry transitions to next-generation consoles like the PlayStation 5 and Xbox Series X|S. Nacon plans to release five new titles and a range of specialized controllers for cloud gaming and new hardware. Based on these trends, the company has upwardly revised its full-year sales target to between 150 M€ and 160 M€, maintaining a current operating income target of 18%. Long-term strategic goals for the 2023 Nacon Plan include reaching sales of 180 M€ to 200 M€ with operating margins exceeding 20%.
NaconOct 2020
Financial
Q1 2021/22 Sales
Nacon achieved sales of 33.7 million euros during the first quarter of the 2021/22 fiscal year, representing an 11.3% decline compared to the same period in the previous year. This decrease is attributed primarily to an exceptionally high comparison basis from the first quarter of 2020/21, when global lockdowns significantly inflated consumer demand for digital entertainment and gaming hardware. Despite the year-over-year dip, the results demonstrate a structural growth trend when compared to pre-pandemic levels, particularly within the digital back catalogue. The video games segment generated 12.2 million euros, a 16% decrease from the prior year. However, back catalogue sales remained resilient at 9.2 million euros, nearly four times higher than the 2.4 million euros recorded during the same period in 2019/20. New releases such as Roguebook and Pro Cycling Management 2021 contributed to this performance. In the accessories division, sales fell 8.8% to 20.6 million euros. While the initial launch of RIG helmets in the United States created a difficult year-over-year comparison, other accessory lines grew by 19%, driven by strong demand for PlayStation 4 and Xbox Pro Compact controllers. Management maintains a positive outlook for the remainder of the fiscal year, anticipating growth in the second half driven by a robust release schedule including titles such as WRC 10 and Vampire: The Masquerade – Swansong. Financial targets for 2021/22 remain unchanged, with projected sales between 180 and 200 million euros and a current operating margin of 20%. Looking further ahead to 2022/23, the company expects to reach sales between 230 and 260 million euros, supported by major upcoming releases such as The Lord of the Rings: Gollum and Test Drive Unlimited Solar Crown.
NaconJul 2021
Financial
First Half 2022/23 Sales
NACON reported consolidated sales of 77.5 million euros for the first half of the 2022-2023 fiscal year, representing a 6.2% increase compared to the previous year. This growth was driven primarily by a robust performance in the video game publishing segment, which saw a 72.3% increase in revenue to 47.0 million euros. Within this segment, new catalogue titles surged by 130%, supported by releases such as Steelrising and Session Skate Sim, while the back catalogue grew by 33%. These gains helped offset a significant downturn in the accessories division, where sales fell 34.7% to 28.6 million euros due to a high base effect in the United States and a general decline in the global gaming headset market. The financial outlook for the remainder of the fiscal year is characterized by a downward revision of annual targets. While the company previously anticipated sales exceeding 250 million euros and operating income over 50 million euros, it now acknowledges these goals are unattainable. This shift is attributed to lower-than-expected catalogue sales, the postponement of major titles like The Lord of the Rings: Gollum to 2023, and ongoing supply chain tensions regarding new console hardware. Despite these challenges, NACON expects year-over-year growth in both sales and operating income compared to the prior fiscal year. Looking ahead to the second half of the year and into the 2023-2024 period, the strategy focuses on a dense release schedule including WRC Generations, Blood Bowl 3, and Transport Fever 2 Console Edition. The company maintains a positive medium-term outlook, anticipating that the expansion of its back catalogue and a diversified publishing lineup will accelerate growth and improve operating profitability. The data covers the six-month period ending September 30, 2022, reflecting the performance of NACON’s 16 development studios and its global distribution network across 100 countries.
NaconOct 2022
Financial
FY 2021/22, a Transition Year
Nacon’s financial performance for the 2021/22 fiscal year reflects a strategic transition period characterized by a deliberate shift in release schedules and external expansion. Total annual sales reached €155.9 million, representing a 12.3% decline compared to the previous year. This downturn was primarily driven by the publishing segment, where revenue fell 21.2% to €54.4 million. The fourth quarter was particularly impacted by the postponement of major titles, such as Vampire: The Masquerade – Swansong, resulting in a 25.6% quarterly revenue drop. Despite these delays, the back-catalogue business remained resilient, growing 12.7% during the final quarter. The accessories division, which remains the company's largest revenue contributor at €96.6 million, saw a modest 6.3% decline over the full year. This segment faced significant headwinds, including global console shortages and a challenging geopolitical and economic environment. Consequently, current operating income for the fiscal year is projected to fall between €17 million and €19 million, reflecting the lower-than-anticipated sales volume in the final quarter. Looking forward to the 2022/23 fiscal year, the outlook remains highly optimistic with a projected sales target between €250 million and €300 million. This anticipated growth is supported by a robust pipeline of upcoming releases and the integration of newly acquired entities, including Midgar Studio and Daedalic Entertainment. Management expects a sharp acceleration in business activity and aims for a current operating margin exceeding 20%. The company continues to pursue an external growth strategy to bolster its internal development capabilities and solidify its position in the AA video game publishing and premium gaming device markets.
NaconApr 2022