Key insights
8 slides
Revenue growth
NACON revenue increased from €95.568 million to €129.427 million.
Revenue grew from €95.568 million in 2017/18 to €129.427 million in 2019/20. Recurring operating income rose from €3.728 million to €22.620 million over the same period.
Margin improvement
Gross margin improved from 41.7% to 61.1% between 2017/18 and 2019/20.
Gross margin improved substantially, from 41.7% in 2017/18 to 61.1% in 2019/20.
R&D capitalisation
NACON capitalised €32.8 million in R&D costs in 2019/20.
The company capitalised R&D costs for games, amounting to €30.1 million in 2018/19 and €32.8 million in 2019/20. It also benefited from a French video game tax credit of €3.0 million in 2019/20.
IPO details
NACON raised €109 million through its IPO, issuing 19,810,931 shares.
The company issued 19,810,931 shares, representing 23.33% of its capital, and raised €109 million. Bigben Interactive SA retained a 76.67% stake after the IPO.
Studio acquisitions
NACON acquired studios including Cyanide, Kylotonn Racing, RaceWard, Eko Software, and Spiders.
The company has a broad editorial positioning through recent studio acquisitions. These include Cyanide, Kylotonn Racing, RaceWard, Eko Software, and Spiders, covering genres from racing to RPGs.
Digital focus
NACON focuses on digital sales to eliminate manufacturing and inventory costs.
The company focuses on digital sales due to the elimination of manufacturing and inventory costs. It also cites improved publisher margins and increased visibility through commercial campaigns with platforms like Steam and Epic Store.
Licensing partnerships
NACON leverages licensing partnerships with major brands for authenticity and promotion.
The company leverages extensive licensing partnerships with major brands, including Sony, Microsoft, Nintendo, prestige car marques, and Winchester®. These partnerships support niche games like rugby, racing, cycling, fishing, and hunting.
Asset structure
NACON's balance sheet shows key figures across the last three financial years.
The report presents key balance-sheet figures in the last three financial years.
Page 132 of the report| Category | 31 March 2020 | 31 March 2019 | 31 March 2018 |
|---|---|---|---|
| Non-current assets | 105758 | 80370 | 26790 |
| Current assets | 193775 | 68071 | 58000 |
| Total assets | 299533 | 148441 | 84790 |
| Total equity | 187621 | 67544 | 43559 |
| Non-current liabilities | 53081 | 32855 | 11864 |
| Current liabilities | 58831 | 48042 | 29367 |
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Summary
Société anonyme governed by a Board of Directors with share capital of €84,908,919 Registered office: 396/466, Rue de la Voyette, CRT 2, 59273 Fretin, France Registration number: 852 538 461 RCS Lille Métropole UNIVERSAL REGISTRATION DOCUMENT This universal registration document was approved on 7 July by the Autorité des Marchés Financiers (“AMF”) as the competent authority in respect of regulation (EU) 2017/1129.
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