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Full Year 2024/25 Results

NACON’s financial results for the fiscal year ending March 31, 2025, reflect a period of transition characterized by stable revenue and strategic postponements. Total sales reached €167.9 million, consistent with the previous year, despite the decision to delay several high-profile games and accessories into the 2025/26 cycle. The Gaming division contributed €97.1 million to this total, while Accessories accounted for €65.2 million. Although gross margin improved to 64.4%, operating income fell sharply to €1.1 million, down from €20.9 million the prior year. This decline was primarily driven by an €8.5 million increase in depreciation and amortization following the release of Test Drive Unlimited, alongside higher interest expenses. Consequently, the company reported a net loss of €1.3 million. The company maintains a solid balance sheet with €284.4 million in equity and €29.3 million in available cash. Management has opted not to propose a dividend for the 2024/25 period, focusing instead on a robust pipeline of 40 games currently under development with a carrying value of €124.5 million. A significant highlight is the new exclusive licensing agreement with WRC Promoter, securing World Rally Championship rights for PC and consoles from 2027 through 2032. Looking ahead to the 2025/26 fiscal year, NACON anticipates strong growth in both business activity and operating income. The release schedule is heavily weighted toward the first half of the year, featuring titles such as Robocop: Rogue City – Unfinished Business and Hell is Us, alongside a suite of sports and simulation games. The Accessories division is expected to benefit from the launch of the REVOSIM range and the development of 30 dedicated products for the upcoming Nintendo Switch 2. These initiatives, combined with rigorous financial discipline, underpin a positive outlook for the coming year.

NaconJun 2025

market-analysis france monetization

Sales for the 2024/25 Financial Year

NACON reports consolidated sales of €167.9 million for the 2024/25 financial year ending March 31, 2025, representing a marginal increase of 0.1% compared to the previous year. While the company faced a 3.8% decline in gaming revenue due to a limited release schedule in the fourth quarter, this was offset by a 4.1% increase in accessories sales and a robust performance in back-catalogue titles. Back-catalogue sales grew by 31.2% over the full year to reach €58.6 million, demonstrating the sustained value of the company’s existing intellectual property. The financial results reflect a transitional period marked by the strategic postponement of several key games and hardware products into the 2025/26 fiscal year. Consequently, while annual sales remained stable, operating income is expected to be lower than the previous year, though it remains slightly positive. The fourth quarter specifically saw a 7.1% decline in sales, attributed to the lack of major new releases compared to the prior year’s success with high-performing titles like Robocop: Rogue City. Looking ahead, the company forecasts sharp business growth for the 2025/26 financial year, driven by a significantly busier release schedule featuring over ten games across sports, racing, adventure, and simulation genres. The accessories segment is also expected to expand following the launch of new Xbox controllers, premium racing peripherals, and a dedicated range for the upcoming Nintendo Switch 2. To support this growth and mitigate supply chain risks, the company is diversifying its manufacturing, utilizing facilities in Vietnam and preparing a new controller production site in France scheduled to open in late 2025.

NaconApr 2025

Third Quarter 2024/25 Sales: €52.9 Million

NACON reported consolidated sales of €52.9 million for the third quarter of the 2024/25 financial year, representing a 10.3% decrease compared to the same period last year. Despite this quarterly dip, total sales for the first nine months reached €129.9 million, a 2.5% increase over the previous year. The performance reflects a divergence between the gaming and accessories segments, with gaming revenue falling 23.7% to €25.4 million due to a lack of major new releases compared to the prior year’s success of RoboCop: Rogue City. However, back-catalogue sales grew by 24.5% to €15.6 million, validating the long-term value of the existing portfolio. The accessories division grew by 5.3% to €25.2 million, driven by strong demand for RIG headsets and Revolution 5 Pro controllers in the United States and Australia. This growth occurred despite the postponement of several key products, including the Cobra seat and the Xbox Revolution X Unlimited controller, into 2025. To enhance supply chain efficiency and internalize value, the company announced plans for a new accessory production plant in France, expected to be operational later in 2025. Looking ahead, the company expects a slight increase in full-year sales but anticipates a potential decrease in operating income due to product delays. The outlook for the 2025/26 financial year remains optimistic, supported by a busy release schedule of approximately ten new games and the anticipated launch of the Nintendo Switch 2. NACON plans to capitalize on this new hardware with a dedicated range of compatible games and accessories, forecasting strong growth for the first half of the upcoming fiscal year.

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NaconJan 2025

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Third-Quarter 2025-26 Sales

Ubisoft reported a double-digit increase in net bookings for the third quarter of fiscal year 2025-26, reaching €338 million. This 12% year-on-year growth exceeded internal expectations, primarily driven by strong performance in partnerships and the Assassin’s Creed franchise. For the first nine months of the fiscal year, net bookings totaled €1.11 billion, an 18% increase compared to the previous year. This growth was largely supported by back-catalog sales, which rose 36.2% and accounted for over 93% of total net bookings during the nine-month period. Key performance drivers included the successful launch of Anno 117: Pax Romana, which outpaced its predecessor, and significant engagement growth for Avatar: Frontiers of Pandora following a major third-person perspective update. While the first-person shooter market remained crowded, Tom Clancy’s Rainbow Six Siege performed in line with expectations, showing a recovery in daily active users by early January. Overall player activity remained robust, with approximately 130 million unique active users across PC and consoles during the 2025 calendar year. The company is currently undergoing a major structural transformation into five distinct "Creative Houses" to sharpen focus and accelerate decision-making. This reorganization includes the recent completion of a €1.16 billion investment from Tencent into Vantage Studios, which manages the Assassin’s Creed, Far Cry, and Rainbow Six brands. Additionally, Ubisoft is streamlining its headquarters in France, initiating consultations to reduce headcount by 200 positions. Looking ahead, Ubisoft confirmed its full-year targets, including net bookings of approximately €1.5 billion and a non-IFRS EBIT of around -€1 billion. The fourth-quarter pipeline features the global mobile launches of Rainbow Six Mobile and The Division Resurgence. The group maintains a solid liquidity position, with cash equivalents expected between €1.25 billion and €1.35 billion by March 2026, providing the flexibility to address upcoming debt maturities.

UbisoftJan 2025

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Annual Financial Report and Non-Financial Performance Statement 2024-2025

PULLUP Entertainment, formerly Focus Entertainment, achieved a transformative financial recovery during the 2024/25 fiscal year, characterized by record-breaking growth and a strategic corporate reorganization. The Group reported a 108% year-over-year revenue increase to €390.0 million, swinging from a €19.9 million loss in the previous period to a consolidated net profit of €19.4 million. This performance was primarily catalyzed by the massive commercial success of *Warhammer 40,000: Space Marine 2*, which reached over 7 million players, alongside a resilient back-catalogue strategy where digital sales now account for 91% of total turnover. The Group’s financial position strengthened significantly, with net debt nearly halved from €132.6 million to €70.1 million. This deleveraging was supported by a €23.1 million capital increase and robust cash generation, leaving the company with €61.7 million in available liquidity. Strategically, the period marked a transition to an operational holding model following the spin-off of its publishing business. The Group is now organized into three core divisions—Publishing, Dotemu, and Development Studios—supported by ten acquisitions since 2020. While the company faces risks from a 30% investment dependency on Saber Interactive and reliance on digital platforms like Steam, it has mitigated these through increased ownership of internal intellectual property and a multi-year partnership with Mattel. Geographically, the Americas remains the dominant market, representing 53% of sales following a 137% regional surge. Beyond financial metrics, the Group improved its social and governance performance, reducing employee attrition from 17.2% to 9.8% and maintaining a 100% implementation rate for player safety systems in multiplayer titles. Despite an increase in total greenhouse gas emissions to 9,889.3 TeqCO2 due to expanded reporting and physical product success, the Group remains committed to its CSR strategy focusing on talent retention, climate action, and cybersecurity. With the announcement of *Warhammer 40,000: Space Marine 3* and a proposed dividend of €1 per share, the Group has positioned itself for long-term sustainable growth.

Pullup EntertainmentJan 2025

Tableau de Déclaration Mensuelle des Opérations Réalisées par un Émetteur sur ses Propres Titres

Nacon, a prominent player in the video game and accessories market, executed a series of share buyback operations throughout January 2025 as part of a program originally initiated in March 2020. These transactions reflect the company's ongoing management of its equity and liquidity under the regulatory framework established by the Autorité des Marchés Financiers. The data indicates a net increase in treasury shares over the monthly period, starting from a baseline of 81,468 shares held at the end of December 2024. During the month of January, the issuer acquired 86,812 shares while divesting 35,353 shares. No shares were cancelled or transferred in relation to employee stock options or debt securities during this specific timeframe. Furthermore, the company reported no buyback transactions involving individuals or entities holding more than 10% of the share capital, nor any transactions involving company directors. These activities resulted in a total direct and indirect self-holding position of 132,927 shares by the end of the reporting period. The total volume of treasury shares held represents approximately 0.12% of the company's overall share capital. This level of self-detention suggests a strategy focused on market liquidity and modest capital management rather than large-scale equity restructuring. The reporting follows standard transparency requirements for issuers listed on French regulated markets, providing a snapshot of the company's financial maneuvers within the gaming industry segment for the start of the 2025 fiscal year.

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NaconJan 2025

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Rapport Financier Semestriel S1 2024/2025

Pullup Entertainment achieved a historic financial turnaround during the first half of the 2024/2025 fiscal year, reporting record revenue of €234.3 million. This represents a 176% increase over the previous year’s €85.0 million, primarily catalyzed by the successful launch of Warhammer 40,000: Space Marine 2. This performance shifted the company from a prior net loss to a positive EBITA of €48.3 million and a consolidated net income of €22.1 million. The growth was heavily concentrated in digital channels, which accounted for 89% of sales, and the Americas, which represented 54% of total revenue. Strategic restructuring and capital management were central to this period. The company rebranded from Focus Entertainment to Pullup Entertainment and completed a €23.1 million capital increase in May 2024. Portfolio optimization included the divestment of Streum On Studio following the cancellation of an unannounced project and the acquisition of minority stakes in Rundisc and Uppercut Games. Despite these successes, the financial position reflects the scale of recent operations, with accounts receivable surging to €196.3 million and studio-related supplier debt rising to €93.7 million due to royalty obligations. The group maintains a cash position of €22.7 million against a net debt of €127.2 million. Operational risks remain a critical focus, particularly a high dependency on external partners; specifically, Saber Interactive represents 30% of projected investments over the next three years. Financial stability is further tied to managing significant currency exposure, as 60% of revenue is USD-denominated, and adhering to strict debt covenants linked to a €130 million syndicated credit facility. To secure these credit lines, the group has pledged significant stakes in key subsidiaries, including Focus Entertainment Publishing and Dovetail Games. As of September 30, 2024, Neology Holding remains the dominant shareholder, maintaining a controlling interest of 51.64% of net voting rights.

Pullup EntertainmentDec 2024

Tableau de Déclaration Mensuelle des Opérations Réalisées par un Émetteur sur ses Propres Titres: Novembre 2024

Nacon, a prominent French video game publisher and hardware manufacturer, executed a series of share buyback operations throughout November 2024 as part of a long-standing program initiated in March 2020. These transactions, reported in compliance with French financial market regulations, reflect the company's ongoing management of its own equity. At the conclusion of the reporting period, the issuer held a total of 126,544 treasury shares, representing approximately 0.12% of its total share capital. The monthly activity was characterized by a high volume of both acquisitions and disposals, indicating active liquidity management. Specifically, the company purchased 64,247 shares and sold 48,691 shares during the month. This resulted in a net increase in treasury holdings compared to the balance of 110,988 shares recorded at the end of October 2024. No shares were cancelled or transferred for employee stock option exercises or debt conversions during this timeframe, and no transactions were conducted with major shareholders holding more than 10% of the capital or with company directors. The scope of this financial activity is limited to the French equity market where Nacon is listed. The data provides a transparent view of the company's market interventions, which are typically used to provide liquidity to the stock or to fulfill future obligations related to share-based compensation. By maintaining a relatively small percentage of self-held capital, the company ensures it meets regulatory requirements while managing its market presence. These figures underscore a period of active trading for the issuer's securities without significant structural changes to its capital allocation or ownership distribution.

NaconDec 2024

market-analysis france mergers-acquisitions

First Half 2024/25 Results

Nacon’s financial results for the first half of the 2024/25 fiscal year, covering the six-month period ending September 30, 2024, reveal a period of revenue growth alongside a slight contraction in profitability. Total sales reached €77.0 million, representing a 13.6% increase compared to the previous year. This growth was driven by a 10.7% rise in gaming sales and a robust 16.6% increase in the accessories segment. Gross profit margins improved to 65.8%, primarily due to optimized purchasing strategies within the accessories division. Despite the rise in revenue, EBITDA fell by 3.2% to €28.3 million, and operating income declined by 12.9% to €3.2 million. These decreases are attributed to a high comparative base in the prior year, which had been bolstered by non-recurring income from the release of earn-out provisions. Net income for the period settled at €2.2 million. The company’s balance sheet was strengthened by an €18.6 million capital increase in July 2024, bringing total equity to €288.3 million, though net debt rose to €101.5 million as cash positions decreased to €17.4 million. The outlook for the remainder of the fiscal year remains optimistic, supported by a pipeline of 45 games currently under development. Growth is expected to be driven by the release of major titles such as Test Drive Unlimited: Solar Crown and MXGP, alongside new premium hardware including the REVOSIM steering wheel and Xbox Revolution X Unlimited controller. Management anticipates that higher volumes from year-end sales and new product launches will result in overall growth for both sales and operating income for the full 2024/25 financial year.

NaconNov 2024

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Strong Sales Growth in the Second Quarter of 2024/25

Nacon achieved significant financial momentum during the second quarter of the 2024/25 fiscal year, reporting consolidated sales of €44.7 million. This represents a 38.5% increase compared to the same period in the previous year. For the full first half of the year, spanning April to September 2024, total sales reached €77.0 million, a 13.6% year-over-year improvement. This growth was primarily driven by a surge in the gaming division, which saw a 65.4% increase in quarterly revenue, bolstered by both new releases and a robust back catalogue. The publishing segment benefited from the launch of Test Drive Unlimited: Solar Crown, which ranked among the top five best-selling games in its distribution territories despite initial server stability issues. Additionally, the PC release of Ravenswatch met with a positive reception, building a community of over 600,000 active players. The back catalogue grew by 38.8%, sustained by the continued performance of titles like Robocop: Rogue City and Taxi Life. Meanwhile, the accessories division maintained steady growth of 8.7% for the quarter, led by strong demand for premium controllers and headsets in the United States and Australian markets. Looking ahead to the remainder of the 2024/25 fiscal year, the outlook remains positive with a busy release schedule across sport, racing, adventure, and simulation genres. New hardware launches, including racing peripherals and Xbox-compatible controllers, are expected to further diversify revenue streams. Based on these results, the company has confirmed its full-year growth targets and anticipates a continued increase in operating income, supported by its integrated model of game publishing and peripheral design.

NaconOct 2024

Interim Financial Report: Six Months Ended 30 September 2024

NACON achieved a consolidated revenue of €77.0 million for the first half of the 2024/25 fiscal year ending September 30, 2024, representing a 13.6% year-on-year increase. This growth was primarily fueled by a 27.1% surge in back-catalogue sales and a 16.6% rise in the accessories division, which now accounts for 38% of total revenue. Despite the top-line expansion, net income fell 32.4% to €2.2 million, and EBITDA dipped slightly to €28.3 million. These declines were attributed to higher operating expenses, asset impairments at Daedalic studio, and the absence of non-recurring income present in the previous period. The financial structure was significantly bolstered by a €19.0 million rights issue and a reduction in debt owed to parent company Bigben Interactive. While the group ended the period with a net cash decrease of €10.8 million, total equity rose to €288.3 million. Intangible assets, largely comprised of game development costs, reached €239.4 million, reflecting a strategic shift toward a five-year diminishing balance amortization method to account for the extended digital lifespans of modern titles. Export markets remain the primary revenue driver, contributing 86.9% of total sales, though the company faces ongoing exchange-rate risks due to USD-denominated accessory procurement. Management maintains a positive outlook for the remainder of the fiscal year, anticipating further growth in operating income. This optimism is supported by a robust release schedule across four specialist gaming genres and the introduction of premium racing and Xbox-compatible peripherals. Recent corporate milestones, including the final earn-out payment for Big Ant Studios and the resolution of a significant intellectual property dispute with a Canadian publisher, position the company to focus on its core operational segment, NACON Gaming, throughout the second half of the year.

NaconSept 2024

Monthly Declaration of Transactions Realized by an Issuer on Its Own Shares: July 2024

Nacon, a prominent player in the video game publishing and peripheral industry, executed a series of share buyback transactions throughout July 2024 as part of a long-standing program initiated in March 2020. These activities were conducted in accordance with French financial market regulations and reported via the standard AMF framework. The primary objective of these transactions is the management of the company’s own equity, a common practice for stabilizing share price or fulfilling obligations related to employee share schemes and debt instruments. The data indicates a high level of liquidity management during the period, with the company purchasing 50,668 shares while simultaneously selling 56,217 shares. This net reduction in treasury holdings resulted in a closing balance of 71,083 shares by the end of July, down from the 76,632 shares held at the end of June. Consequently, the total direct and indirect self-held capital represented a marginal 0.07% of the company’s total share capital. The scope of the reporting is limited to the issuer's activities on the French market during the single month of July 2024. Notably, there were no share transfers related to the exercise of employee options or debt conversions, nor were any shares cancelled during this timeframe. Furthermore, the company reported zero transactions involving individuals or entities holding more than 10% of the capital or members of the executive leadership team. This suggests that the monthly activity was focused on routine market liquidity rather than significant structural changes to ownership or capital reduction.

NaconJul 2024

mergers-acquisitions investment france+1

Pullup Entertainment Annual Financial Report CSR Report 2023-2024

PULLUP Entertainment, formerly known as Focus Entertainment, underwent a significant strategic and structural transformation during the 2023-2024 fiscal year. The Group reorganized into three core pillars—Focus Entertainment Publishing, Dotemu, and PULLUP Studios—to manage a portfolio of seven internal studios and a pipeline of approximately 60 games. This transition included a leadership consolidation under Chairman and CEO Fabrice Larue and a major rebranding effort to reflect a shift toward a publisher-developer model focused on owned intellectual property and recurring revenue streams. Financially, the period ending March 31, 2024, was characterized by a transition from a €7.3 million profit to a consolidated net loss of €19.9 million, despite a relatively stable revenue of €187.3 million. This downturn was primarily driven by the postponement of major titles like *Warhammer 40,000: Space Marine 2*, a doubling of depreciation and amortization costs to €67 million, and significant investments in game development and acquisitions. However, the back-catalogue proved resilient, surging 89% to represent 66% of total sales. To support this aggressive expansion, including the €40.2 million acquisition of Dovetail Games, the Group secured a €130 million syndicated loan and completed a €23 million capital increase in May 2024. The Group’s operational scope expanded to 614 employees, largely due to international acquisitions in the UK. This growth triggered the requirement for a formal Non-Financial Performance Declaration, highlighting a Corporate Social Responsibility (CSR) strategy focused on talent retention, carbon footprint reduction, and combating toxic behavior in multiplayer gaming. While Scope 3 emissions represent over 98% of the Group's 4,778.6 TeqCO2 carbon footprint, management has implemented new environmental policies and social surveys to maintain a 91% employee satisfaction rate. Moving forward, the Group expects a strong financial recovery in 2024/25, underpinned by a robust release schedule and a diversified "III-AA" title strategy designed to reduce reliance on seasonal market peaks.

Pullup EntertainmentJul 2024

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Universal Registration Document 2023/24: Including the Annual Financial Report

The 2023/24 Universal Registration Document for Nacon outlines the company’s strategic evolution into a leading "pure player" in the global video game and premium accessories markets. Established as a standalone entity from Bigben Interactive in 2019, Nacon operates a vertically integrated model as a developer, publisher, and accessory designer. The company specifically targets the "AA" gaming segment—niche titles with budgets between €1 million and €20 million—focusing on the Racing, Sport, Simulation, and Adventure genres. Financially, the fiscal year ending March 31, 2024, saw revenue grow to €167.7 million, driven by an 11.5% increase in video game sales and a record EBITDA of €70.9 million. While the company faced non-recurring charges from the commercial underperformance of *The Lord of the Rings: Gollum*, it maintained a strong balance sheet with €24.6 million in available cash. A significant shift in operations is evident as Nacon moves toward in-house production; 16 internal studios now develop 80% of its titles, reducing reliance on third-party developers. The accessories division remains a core pillar, supported by over 130 patents and high-level licensing partnerships with Sony and Microsoft. The geographic scope is global, with 89.1% of sales derived from export markets and a workforce of 1,113 employees spread across studios in France, Australia, Canada, and Europe. Looking ahead to 2024/25, the strategy emphasizes "Live Ops" to extend game lifespans and the launch of the "Revosim" brand to capture the growing simulation racing market. Risk management remains focused on mitigating product delays and supply chain volatility, while a voluntary CSR strategy targets a 30% reduction in carbon emissions by 2030. Parent company Bigben Interactive retains a 60.23% stake, ensuring stability as Nacon pursues its goal of becoming a global leader in the AA segment.

NaconJun 2024

Strong Earnings Growth in 2023/24

Nacon’s consolidated financial results for the 2023/24 fiscal year, ending March 31, 2024, demonstrate significant growth in profitability and operational efficiency. The company achieved a 45% increase in EBITDA to €70.9 million and a 37.3% rise in net income to €17.5 million. Total sales grew by 9.4% to €170.7 million on a non-IFRS basis, driven by a robust release schedule of 19 titles and a strong performance from the back catalogue. The accessories segment also returned to growth in the second half of the year, supported by new product launches and an expanding console install base. The financial position remains stable, characterized by a 54.4% increase in cash flow from operating activities, totaling €73.1 million. While net debt decreased slightly to €85.2 million, the company opted not to issue a dividend, prioritizing the reinvestment of cash flow into its development pipeline. Currently, Nacon has 45 games in development, representing a carrying value of €129.5 million. Operational margins improved across the board, with gross margin reaching 62.1% and operating income rising 20.5% to €20.9 million. Looking toward the 2024/25 fiscal year, the company anticipates continued growth in sales and operating income. The strategy focuses on "business convergence," specifically within the racing market through the creation of a dedicated racing department and the "Revosim by Nacon" brand. This initiative aims to integrate game publishing with premium peripherals like steering wheels and headsets. With approximately 15 games scheduled for release, including major titles like Test Drive Unlimited: Solar Crown and Greedfall II, the company expects to leverage its unified business model to strengthen its competitive position in the global gaming market.

NaconJun 2024

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Fourth Quarter 2023/24 Sales

NACON reported a significant increase in financial performance for the 2023/24 fiscal year, ending March 31, 2024. Annual non-IFRS sales reached €170.7 million, representing a 9.5% increase over the previous year. This growth was particularly evident in the fourth quarter, where sales rose 9.8% to €41.0 million. The company’s gaming division served as the primary driver of this expansion, with annual gaming sales increasing 14.9% to €104.0 million. This performance was bolstered by a heavy release schedule of 19 titles, including the commercial success of Robocop: Rogue City and Cricket 24. The gaming segment's growth was fueled by a 21.2% rise in new catalogue sales over the full year, while the back-catalogue remained resilient with a 7.4% increase. In the fourth quarter specifically, new game sales rose 16.3% following the release of titles such as Taxi Life and War Hospital. The accessories division also showed momentum, growing 13.1% in the final quarter to €13.8 million. This surge was attributed to the successful launch of premium peripherals like the RIG 600 PRO headset and the REVOLUTION 5 PRO controller, which saw particularly strong adoption in the United States. Looking ahead to the 2024/25 fiscal year, the company anticipates continued growth in operating income that outpaces sales increases. The strategy involves a pipeline of approximately 15 new releases, including high-profile titles such as Test Drive Unlimited: Solar Crown and early-access launches for Greedfall II and Terminator: Survivors. With a global presence across 100 countries and a workforce of over 1,000 employees, the company expects its expanding installed base of consoles and a strengthening back-catalogue to provide a solid foundation for the upcoming financial period.

NaconApr 2024

Monthly Disclosure of Share Buyback Operations: March 2024

Nacon, a prominent player in the video game industry, executed a series of share buyback operations throughout March 2024 as part of a long-standing program initiated in March 2020. These transactions were conducted under the regulatory framework of the Autorité des Marchés Financiers, specifically adhering to instructions regarding the disclosure of treasury share transactions and stabilization operations. The primary objective of these activities is the management of the company's own equity securities, a common practice for listed entities seeking to optimize capital structure or fulfill obligations related to employee share schemes. During the month of March, the company acquired 27,705 shares while simultaneously selling 37,861 shares. No shares were transferred for purposes such as the exercise of employee stock options or debt securities, and no shares were canceled during this period. Furthermore, the data indicates that no buybacks were conducted from individuals holding more than 10% of the capital or from company executives. These movements resulted in a net decrease in the total number of treasury shares held compared to the previous month's closing balance. As of the end of March 2024, the total direct and indirect self-held capital amounted to 87,063 shares, representing approximately 0.10% of the company's total share capital. This is a slight reduction from the 97,219 shares held as of February 29, 2024. The scope of this disclosure is limited to the French market and the specific activities of Nacon, providing a transparent snapshot of its monthly liquidity and equity management strategies within the broader gaming sector.

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NaconMar 2024

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Sales Up 43.3% to €59.0 Million in the Third Quarter of 2023/24

Nacon 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.

NaconJan 2024

First Half 2023/24 Results

Nacon’s financial results for the first half of the 2023/24 fiscal year, covering the period from April 1 to September 30, 2023, reflect a transitional phase characterized by a back-weighted release schedule. Total IFRS sales reached €67.8 million, a decline from €77.5 million in the previous year. This decrease was primarily driven by a 9% drop in new game sales due to a limited release calendar during the first six months. Despite lower top-line revenue, the company achieved a significant improvement in margin rates, with EBITDA rising 20.1% to €29.3 million and the EBITDA margin expanding from 31.4% to 43.2%. The publishing segment saw resilient back-catalogue performance, contributing €21.2 million, while the accessories division generated €24.9 million. Accessories experienced a late-period surge attributed to the expanding installed base of current-generation consoles. However, operating income fell 62.7% to €3.7 million, largely due to a substantial increase in depreciation and amortization charges related to non-current assets, which rose to €25.6 million. Net income for the period was €3.2 million, impacted by higher interest rates and unfavorable foreign exchange fluctuations. Management maintains a positive outlook for the full fiscal year, anticipating strong growth in both sales and operating income. This optimism is supported by a robust second-half pipeline featuring over ten new titles, including the successful launch of RoboCop: Rogue City and the upcoming Test Drive Unlimited: Solar Crown. With 50 games currently in development and a carrying value of €118.1 million in related assets, the company is leveraging its 16 internal studios and new premium peripherals, such as the Revolution 5 Pro controller, to drive performance through the remainder of the year.