Q3 2022/23 Sales: 9-Month Cumulative Report

Key insights

6 takeaways · ~2 min read

01
NACON reported cumulative nine-month sales of €118.7 million for 2022/23, representing a decline from the €124.2 million recorded during the same period in the previous fiscal year.See it on page 1
02
Accessories revenue dropped significantly, falling 41.5% in Q3 and 37.8% over the nine-month period, primarily due to global shortages of new-generation consoles.See it on page 1
03
Video game revenue demonstrated strong growth, with a 59% increase over nine months driven by a 17.2% rise in catalogue sales and a 59.5% surge in back-catalogue performance.See it on page 1
04
Quarterly sales performance was inconsistent, starting with a 25.8% increase in Q1 followed by consecutive declines of 10.7% in Q2 and 19.6% in Q3.See it on page 1
05
The company expects a recovery in the accessories segment as console supply constraints ease and plans to release four new titles in Q4 2023, including Chef Life and Blood Bowl III.See it on page 2
06
NACON projects a modest rise in sales and operating income for FY 2023/24, supported by a planned pipeline of approximately twenty new game releases.See it on page 2

Summary

NACON reported Q3 2022‑23 sales of €41.1 million, a 4.5 % decline from the same period in 2021‑22, bringing cumulative nine‑month sales to €118.7 million versus €124.2 million previously. The decline was driven largely by a sharp 41.5 % drop in accessories sales, attributed to global shortages of new‑generation consoles that forced retailers to tighten sourcing. Video game revenue rebounded, with catalogue sales up 17.2 % to €10.2 million and back‑catalogue sales surging 59.5 % to €8.8 million, supported by releases such as Vampire The Masquerade® – Swansong, Pro Cycling Manager 2022, and WRC Generations.

Quarterly performance varied: the first quarter saw a 25.8 % increase to €42.4 million, while the second quarter fell 10.7 % to €35.1 million and the third quarter declined 19.6 % to €41.1 million. Across the nine months, game sales grew 59 %, driven by catalogue and back‑catalogue growth, whereas accessories fell 37.8 % and other categories declined modestly.

Looking ahead, NACON anticipates a recovery in accessories sales as console shortages ease and plans to launch four new titles in Q4 2023, including Chef Life and Blood Bowl III. For FY 2023‑24, the company expects a modest rise in sales and operating income, buoyed by an expanded release calendar of roughly twenty games and a strengthening back‑catalogue pipeline. The outlook remains positive, with confidence in the company’s FY 2023‑24 prospects reaffirmed.