Report

Full Year 2024/25 Results

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Summary

NACON reported full‑year 2024/25 results that show stable sales of €167.9 million, unchanged from the prior year, with a 64.4 % gross margin up from 62.1 %. EBITDA before non‑recurring items held steady at €55.9 million, while operating income fell sharply to €1.1 million due to a reversal of earn‑out provisions and increased depreciation from the Test Drive Unlimited release. Net income swung to a loss of €1.3 million, compared with a profit of €17.5 million in 2023/24, largely driven by the non‑recurring reversal of €14.2 million and a higher interest expense linked to rising bank rates. Equity rose to €284.4 million, supported by a July 2024 capital increase, and cash increased to €29.3 million. The company’s portfolio includes 40 games in development, with a carrying value of €124.5 million, and an accessories business that generated €65.2 million in sales. New peripherals such as the XBOX Revolution X Unlimited controller and the REVOSIM steering wheel range have been launched, targeting both console and PC markets. Looking ahead to 2025/26, NACON anticipates strong growth beginning in the first half of the year. The release calendar features 15 new titles across adventure, sport, racing and simulation genres, including high‑profile titles like Robocop: Rogue City – Unfinished Business and Hell is Us. A new World Rally Championship licence will grant exclusive publishing rights on PC and consoles from 2027 to 2032. With a robust product pipeline, continued innovation in peripherals, and disciplined financial management, NACON projects increased business levels and operating income for the upcoming fiscal year.

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Full Year 2024/25 Results

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