Updated Mar 17, 2026 by Nacon
NACON achieved a 29.8% increase in operating income to €17.3 million for the 2022/23 fiscal year, despite total sales remaining flat at €156.0 million.
The company’s profitability was driven by a shift in product mix, with gaming software sales surging 66.3% to €90.5 million, while accessories revenue fell 36.6% to €61.2 million due to console shortages.
Gross margin improved significantly from 49.9% to 59.1% of sales, supported by a growing back catalogue and the integration of Daedalic Entertainment.
EBITDA grew by 25.5% to €48.9 million, though net debt increased to €67.3 million following €34.9 million in investment activities.
Management plans to accelerate growth in 2023/24 with an aggressive release schedule of approximately 20 games, up from 13 in the previous year.
NACON currently manages 16 development studios and maintains a production pipeline of 53 games.
The company is prioritizing reinvestment of cash flow into development over dividend payments to support its growth-oriented strategy.
NACON achieved a 29.8% increase in operating income to €17.3 million for the 2022/23 fiscal year, despite total sales remaining flat at €156.0 million.
The company’s profitability was driven by a shift in product mix, with gaming software sales surging 66.3% to €90.5 million, while accessories revenue fell 36.6% to €61.2 million due to console shortages.
Gross margin improved significantly from 49.9% to 59.1% of sales, supported by a growing back catalogue and the integration of Daedalic Entertainment.
EBITDA grew by 25.5% to €48.9 million, though net debt increased to €67.3 million following €34.9 million in investment activities.
Management plans to accelerate growth in 2023/24 with an aggressive release schedule of approximately 20 games, up from 13 in the previous year.
NACON currently manages 16 development studios and maintains a production pipeline of 53 games.
The company is prioritizing reinvestment of cash flow into development over dividend payments to support its growth-oriented strategy.