Nacon reported total sales of €77.0 million for the first half of the 2024/25 fiscal year, a 13.6% increase driven by a 10.7% rise in gaming sales and a 16.6% increase in accessories.
Operating income declined by 12.9% to €3.2 million and EBITDA fell by 3.2% to €28.3 million, largely due to the absence of non-recurring income from earn-out provisions that benefited the prior year.
Gross profit margins improved to 65.8% for the period, attributed primarily to optimized purchasing strategies within the accessories division.
The company strengthened its balance sheet with an €18.6 million capital increase in July 2024, resulting in total equity of €288.3 million, though net debt rose to €101.5 million.
Management maintains an optimistic outlook for the full fiscal year, supported by a development pipeline of 45 games and upcoming hardware launches including the REVOSIM steering wheel and Xbox Revolution X Unlimited controller.
Net income for the six-month period ending September 30, 2024, settled at €2.2 million.
Nacon’s financial results for the first half of the 2024/25 fiscal year, covering the six-month period ending September 30, 2024, reveal a period of revenue growth alongside a slight contraction in profitability. Total sales reached €77.0 million, representing a 13.6% increase compared to the previous year. This growth was driven by a 10.7% rise in gaming sales and a robust 16.6% increase in the accessories segment. Gross profit margins improved to 65.8%, primarily due to optimized purchasing strategies within the accessories division.
Despite the rise in revenue, EBITDA fell by 3.2% to €28.3 million, and operating income declined by 12.9% to €3.2 million. These decreases are attributed to a high comparative base in the prior year, which had been bolstered by non-recurring income from the release of earn-out provisions. Net income for the period settled at €2.2 million. The company’s balance sheet was strengthened by an €18.6 million capital increase in July 2024, bringing total equity to €288.3 million, though net debt rose to €101.5 million as cash positions decreased to €17.4 million.
The outlook for the remainder of the fiscal year remains optimistic, supported by a pipeline of 45 games currently under development. Growth is expected to be driven by the release of major titles such as Test Drive Unlimited: Solar Crown and MXGP, alongside new premium hardware including the REVOSIM steering wheel and Xbox Revolution X Unlimited controller. Management anticipates that higher volumes from year-end sales and new product launches will result in overall growth for both sales and operating income for the full 2024/25 financial year.
