Key insights
6 slides
The headline
Nacon's first-half sales fell 15.9% to €72.8 million.
Sales were €72.8 million in FY 2021/22, down from €86.6 million in the same period of FY 2020/21. The drop reflects a strong comparison base and logistical delays.
Sales decline. Nacon reported first-half sales of €72.8 million for FY 2021/22, representing a 15.9% decline compared to the same period in the previous fiscal year.
Segment detail
All three sales segments declined in the first half.
Games sales fell 18.7% to €14.9 million, accessories declined 20.1% to €23.2 million, and the “others” segment saw a 17.2% reduction to €1.1 million.
The cause
A strong base and U.S. supply-chain delays drove the drop.
The revenue drop was attributed to a strong comparison base from the previous year and supply-chain disruptions in the U.S. that delayed PlayStation 4 and Xbox console shipments.
Resilience
Back-catalogue games remained stable despite fewer new releases.
Nacon highlighted resilient back-catalogue performance in games, with €6.9 million in sales that remained stable despite fewer new releases.
The outlook
Management expects a second-half rebound and reaffirmed targets.
Nacon expects a rebound in the second half of FY 2021/22, citing an expanded game slate and new accessories. Management reaffirmed FY 2021/22 revenue targets of €180–200 million and a 20% operating margin.
Rebound plan. The company plans to drive a second-half rebound through an expanded release slate including titles like 'Cricket 22', 'Rugby 22', and 'Vampire: The Masquerade – Swansong', alongside new hardware like…
Page 2 of the report- 01Expanded game slateCricket 22, Rugby 22, Blood Bowl 3, Train Life, Hotel Life, Vampire: The Masquerade – Swansong
- 02New accessoriesRevolution X Pro controller
- 03Reaffirmed targetsFY 2021/22 revenue of €180–200 million and 20% operating margin
- 04FY 2022/23 projectionSales of €230–260 million with a similar margin
Strategy
Nacon continues acquiring studios to expand its IP portfolio.
The company’s strategy includes continued acquisitions of development studios, initiated in 2018, to expand its intellectual property portfolio and support future growth.
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Summary
Nacon reported first‑half sales of €72.8 million in FY 2021/22, a decline of 15.9 % versus €86.6 million in the same period of FY 2020/21. The drop reflects a strong comparison base and logistical delays, particularly in the United States where supply‑chain disruptions affected shipments of PlayStation 4 and Xbox consoles. Games sales fell 18.7 % to €14.9 million, while accessories declined 20.1 % to €23.2 million; the “others” segment, comprising mobile and audio sales, saw a 17.2 % reduction to €1.1 million.
Quarterly performance mirrored the overall trend: Q2 sales of €39.2 million were 19.5 % lower than Q2 FY 2020/21, driven by a weaker base and shipping constraints. The company highlighted resilient back‑catalogue performance in games, with €6.9 million in sales that remained stable despite fewer new releases.
Looking ahead, Nacon expects a rebound in the second half of FY 2021/22, citing an expanded game slate—including Cricket 22, Rugby 22, Blood Bowl 3, Train Life, Hotel Life and the narrative RPG Vampire: The Masquerade – Swansong—and new accessories such as the Revolution X Pro controller. Management reaffirmed FY 2021/22 revenue targets of €180–200 million and a 20 % operating margin, while projecting FY 2022/23 sales of €230–260 million with a similar margin.
The company’s methodology relies on non‑audited IFRS data, covering global sales across 100 countries through its 20 subsidiaries and a network of distributors. Nacon’s strategy includes continued acquisitions of development studios, initiated in 2018, to expand its intellectual property portfolio and support future growth.
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