Related Documents
Financial
Half-Year Financial Report 2020‑21
Focus Home Interactive demonstrated significant financial and operational growth during the first half of the 2020-21 fiscal year, ending September 30, 2020. Revenue increased by 30% year-over-year to €103.6 million, while EBITDA rose 38% to €35.5 million. This performance was primarily fueled by the commercial success of SnowRunner and an 81% surge in back-catalogue sales, largely driven by a shift toward digital distribution, which accounted for 91% of total revenue. Despite these gains, net income saw a slight decline to €8.89 million, impacted by a €3.1 million loss in extraordinary results—chiefly a provision for a European Commission antitrust fine—and increased currency losses. The period was defined by major strategic and structural transformations. The company underwent a significant governance overhaul following Neology Holding’s acquisition of a 35.48% stake, leading to the appointment of new leadership including Chairman Christophe Nobileau. Simultaneously, the acquisition of German developer Deck13 Interactive for €7.1 million marked a shift toward internalizing development capabilities, contributing to a workforce expansion from 125 to 195 employees. To improve financial transparency, the company restated its balance sheet, reclassifying €48.2 million in video game investments from receivables to intangible assets. Geographically, growth was concentrated in the EMEA and Americas regions. While the company maintained a robust liquidity position with €28.7 million in net cash, it also increased its financial commitments to studios and right holders to €61.1 million. Although remote work challenges led to some development delays, the successful million-copy milestone of GreedFall and the announcement of new titles like Evil West underscore a period of aggressive expansion and portfolio diversification within the global gaming market.
Focus Home InteractiveJan 2020
Financial
Focus Home Interactive Annual Financial Report 2019/20
Focus Home Interactive achieved record financial performance during the 2019/20 fiscal year, characterized by a 13% increase in consolidated revenue to €142.8 million and a 63% rise in net income to €13 million. This growth was underpinned by the commercial success of key titles such as World War Z, which sold over two million copies, and million-selling releases including A Plague Tale: Innocence, Greedfall, and SnowRunner. A robust back catalogue further stabilized the business, accounting for 40% of total sales. Geographically, the Americas emerged as a primary growth driver, while the revenue mix shifted decisively toward digital distribution, which rose from 66% to 82% of total turnover. The Group utilized this period of profitability to accelerate its "Enhance-Evolve-Explore" (EEE) long-term strategy. To secure greater control over intellectual property and development capacity, the company completed the €7.1 million acquisition of Deck13 Interactive and renewed strategic partnerships with Saber Interactive and DONTNOD. Financial flexibility was significantly enhanced through the procurement of €46 million in new credit facilities, intended to fund future acquisitions and IP development. Consequently, advances to development studios rose to €48 million, with future commitments to partners doubling to €78.4 million. Despite the challenges posed by the COVID-19 pandemic, the Group maintained a solid financial structure with a net cash position of approximately €19.6 million and consolidated equity of €54.7 million. Operational risks were managed through digital sales strategies that mitigated physical retail disruptions and currency hedging to address the fact that 61% of sales are denominated in US dollars. While the Group faces an ongoing European Commission antitrust investigation regarding Steam distribution, the overall fiscal health remains strong, supported by an unqualified opinion from statutory auditors and a successful transition to remote work.
Focus Home InteractiveOct 2020
Financial
Focus Entertainment Annual Financial Report & CSR Report 2021/2022
Focus Entertainment’s 2021/22 fiscal year marks a definitive strategic pivot from a third-party distributor to an integrated developer-publisher. This transition was fueled by the acquisition of five studios—Streum On, Dotemu, Douze Dixièmes, Leikir, and Deck13—and a rebranding from Focus Home Interactive. The Group’s primary objective is to secure greater control over its intellectual property, targeting a pipeline of 31 games by 2025 and a goal of owning 50% of its IP turnover. Financial results for the period ending March 31, 2022, reflect this heavy investment phase. Turnover reached €142.6 million, a 17% decrease from the pandemic-driven highs of the previous year, while net income fell to approximately €3.0 million. Despite lower earnings, the balance sheet was significantly bolstered through a €70.4 million capital increase and a new €140 million loan facility. Total assets doubled to €251.0 million, driven by a surge in goodwill and intangible assets related to studio acquisitions. Digital sales now dominate the revenue mix at 88%, with the Americas remaining the largest geographic market at 54% of sales. Operational and governance structures were modernized to support this growth. The Group transitioned to a Board of Directors structure, appointing Frank Sagnier as Chairman and Christophe Nobileau as CEO. Simultaneously, the company launched its inaugural Corporate Social Responsibility (CSR) strategy, focusing on player safety, environmental impact, and workplace diversity. Key ESG milestones include a significantly improved Gaïa rating and a 94/100 gender equality index. While the Group faces increased off-balance-sheet commitments of €124.2 million for future content, it maintains a solid net cash position of €62.6 million, positioning it to execute its long-term development roadmap.
Focus EntertainmentJan 2022
Financial
Focus Entertainment Annual Financial Report & CSR Report 2022/23
Focus Entertainment achieved record-breaking financial results for the 2022/23 fiscal year, reporting a 36.2% increase in revenue to €194.1 million and a significant rise in net income to €7.3 million. This performance was driven by the commercial and critical success of major releases such as *A Plague Tale: Requiem*, *Atomic Heart*, and *Evil West*, alongside the steady performance of live-service titles. The Group’s strategic thesis centers on transitioning from a traditional publisher to a vertically integrated "federation of talent," marked by a 95% international sales mix and a goal to release 46 games over the next three years. To support this expansion, the Group nearly doubled its investment in game development to €65.1 million and aggressively expanded its internal studio capacity. Key structural milestones included the acquisition of majority stakes in BlackMill Games, Black Soup GmbH, and simulation specialist Dovetail Games, as well as the launch of Focus Production. These moves increased the Group’s net intangible assets to €118.3 million and expanded its workforce to nearly 400 employees. While net debt rose to €27.3 million to fund these acquisitions, the Group maintains a strong liquidity position with €72.2 million in cash and substantial undrawn credit lines. The period was also defined by a significant governance reorganization. Following the transition to a Board of Directors structure and the subsequent resignation of CEO Sean Brennan, Fabrice Larue assumed the consolidated role of Chairman and CEO. Alongside financial growth, the Group formalized its Corporate Social Responsibility (CSR) framework, focusing on player safety, environmental impact—highlighted by a 54.4% shift to renewable electricity—and employee engagement. Despite challenges such as talent retention and a declining gender equality index, the Group remains focused on diversifying its portfolio through owned intellectual property and "Games as a Service" (GaaS) projects to ensure long-term stability.
Focus EntertainmentMar 2023