Nacon reported a 6.2% year-on-year revenue increase to €77.5 million for the first half of 2022-23, driven by a 72.3% surge in games segment revenue to €47 million.
02
Net profit more than doubled to €8.4 million, up 123.5% from the €3.8 million recorded in the same period the previous year.
03
Gross margin improved to 61.4% of sales, up from 52.1%, primarily because the lower-margin accessories segment dropped 34.7% to €28.5 million.
04
The company invested heavily in future growth, allocating over €30 million in CAPEX for 50 titles and completing the €34.1 million acquisition of Daedalic.
05
Current operating income rose 31.4% to €11.1 million, while net debt increased to €63.6 million due to strategic inventory build-ups to mitigate component shortages.
06
Management projects modest full-year growth following the delay of major titles like Blood Bowl III and Chef Life, with stronger performance anticipated for 2023-24 supported by the launch of Lord of the Rings Gollum™.
Insights
01
Nacon reported a 6.2% year-on-year revenue increase to €77.5 million for the first half of 2022-23, driven by a 72.3% surge in games segment revenue to €47 million.
02
Net profit more than doubled to €8.4 million, up 123.5% from the €3.8 million recorded in the same period the previous year.
03
Gross margin improved to 61.4% of sales, up from 52.1%, primarily because the lower-margin accessories segment dropped 34.7% to €28.5 million.
04
The company invested heavily in future growth, allocating over €30 million in CAPEX for 50 titles and completing the €34.1 million acquisition of Daedalic.
05
Current operating income rose 31.4% to €11.1 million, while net debt increased to €63.6 million due to strategic inventory build-ups to mitigate component shortages.
06
Management projects modest full-year growth following the delay of major titles like Blood Bowl III and Chef Life, with stronger performance anticipated for 2023-24 supported by the launch of Lord of the Rings Gollum™.