Semi-Annual Financial Report 2021-22: France

Focus Home Interactive’s financial performance for the first half of the 2021-22 fiscal year reflects a period of strategic transition characterized by a contraction in immediate earnings alongside aggressive structural expansion. Between April and September 2021, the company recorded €85.1 million in revenue, representing an 18% decline compared to the previous year, while operating profit fell by 60% to €7.3 million. This downturn was primarily attributed to pandemic-related development delays and the underperformance of certain titles, though the success of SnowRunner and a strong reliance on digital sales—which accounted for 88% of total revenue—provided essential stability.

To offset these headwinds, the company executed a comprehensive growth strategy focused on inorganic expansion and capital fortification. By acquiring Streum On Studio, Dotemu, and a majority stake in Douze-Dixièmes, the group significantly broadened its development pipeline and intellectual property portfolio. These acquisitions, coupled with a €140 million bank financing package and successful capital increases, bolstered the company’s cash position to €82.5 million. Management utilized these resources to secure long-term partnerships, such as the collaboration with Saber Interactive, and to invest heavily in future game development, evidenced by a rise in gross intangible assets to €130.9 million.

Despite the decline in profitability and a €2.9 million fine paid to the European Commission to resolve antitrust investigations, the company maintains a positive outlook. With a strengthened equity base and a clear commitment to its annual revenue target of €120–150 million, the organization is positioning itself for long-term scalability. The integration of new studios and a workforce expansion to 244 employees underscore a shift toward internalizing production capabilities, ensuring the company remains competitive within the French and broader international gaming markets.