Rapport Financier Semestriel 2021-22

Focus Home Interactive experienced a transformative first half of the 2021-22 fiscal year, characterized by a strategic shift toward internalizing development capabilities and strengthening its financial foundation. While revenue declined 18% year-over-year to €85.1 million and net income fell to €5.5 million, these figures reflect a transitional period impacted by pandemic-related production delays and the underperformance of specific titles like Hood: Outlaws & Legends. Despite these headwinds, the back-catalog remained resilient, driven by the sustained success of SnowRunner and Insurgency: Sandstorm, with digital sales accounting for 88% of total revenue and the Americas serving as the primary market at 49%.

The period was defined by an aggressive external growth strategy and a significant expansion of the corporate balance sheet. The acquisitions of Streum On Studio, Douze-Dixièmes, and a 77.5% stake in Dotemu for €53.5 million substantially increased the Group’s headcount and net goodwill. To fund this expansion, the company completed a €70.35 million capital increase and secured a €140 million financing package. These actions resulted in a robust cash position of €82.5 million and total assets growing to €264.6 million, providing the liquidity necessary to support a doubling of financial commitments to studios and rights holders.

Operational highlights included the renewal of a long-term partnership with Saber Interactive for five upcoming titles and the global reveal of Warhammer 40,000: Space Marine 2. The Group also demonstrated progress in corporate governance, doubling its ESG rating and resolving a legacy European Commission investigation. With €61.5 million currently invested in games under development, the company maintains its full-year revenue guidance of €120 million to €150 million, signaling confidence in its long-term pivot toward a more integrated developer-publisher model.