FinancialNacon
Sales Up 43.3% to €59.0 Million in the Third Quarter of 2023/24
1 Jan 20242 pages~3 min full read
Nacon reported a 43.3% increase in Q3 2023/24 consolidated sales, reaching €59.0 million and bringing the nine-month total to €126.7 million.
See it on page 1The gaming division drove quarterly growth with a 74.3% revenue surge to €33.3 million, bolstered by the releases of Robocop: Rogue City and Cricket 24.
See it on page 1Back-catalogue sales for the gaming division grew by 42.1%, supported by increased console ownership and strategic contracts.
See it on page 1The accessories segment grew 17.1% to €23.9 million in Q3, driven by the launch of premium peripherals like the RIG 600 PRO headset and REVOLUTION 5 PRO controller.
See it on page 1Management projects continued growth for the fiscal year ending March 31, 2024, supported by a pipeline of over ten new titles, including Test Drive Unlimited: Solar Crown and Taxi Life.
See it on page 2Nacon maintains a positive outlook for annual sales and operating income, leveraging a portfolio of 16 internal development studios.
See it on page 2Nacon experienced significant financial expansion during the third quarter of the 2023/24 fiscal year, with consolidated sales rising 43.3% to reach €59.0 million. This performance contributed to a nine-month sales total of €126.7 million, representing a 6.8% increase under IFRS standards compared to the previous year. The growth was primarily driven by the gaming division, which saw a 74.3% surge in revenue to €33.3 million. This spike was fueled by the commercial success of new releases, specifically Robocop: Rogue City and Cricket 24, alongside a 42.1% increase in back-catalogue sales supported by rising console ownership and strategic contracts.
The accessories segment also demonstrated positive momentum, growing 17.1% to €23.9 million during the quarter. This uptick was attributed to the successful market entry of premium peripherals, including the RIG 600 PRO headset and the REVOLUTION 5 PRO controller. While the nine-month performance for accessories remained essentially flat with a marginal 0.3% decline, the recent product launches have stabilized the division's trajectory heading into the final quarter.
Looking forward, the outlook remains optimistic for the remainder of the fiscal year ending March 31, 2024. A robust release schedule featuring over ten new titles, such as Test Drive Unlimited: Solar Crown and Taxi Life, is expected to sustain revenue growth. Management confirms expectations for strong increases in both annual sales and operating income, supported by a diversified portfolio of 16 development studios and a global distribution network. The results underscore a successful integration of AA game publishing and premium hardware manufacturing within the broader video game market.
