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Sales for the 2024/25 Financial Year: Nacon
Nacon reported consolidated sales of €167.9 million for the 2024/25 financial year, essentially flat against the €167.7 million recorded in 2023/24. Quarterly performance varied, with a sharp decline in the first quarter (‑9 %) offset by a 38.5 % rise in the second quarter, followed by declines of 10.3 % and 7.1 % in the third and fourth quarters respectively. Gaming revenue fell by 3.8 % to €97.1 million, while accessories grew modestly by 4.1 % to €65.2 million; the “Other” segment, comprising mobile and audio sales, expanded 38 % to €5.6 million.
The fourth‑quarter gaming output was limited to two titles, Rugby25™ and Ambulance Life™, resulting in a 35.8 % drop in new‑game catalogue sales to €9.9 million, compared with four releases and the hit Robocop: Rogue City™ in 2023/24. Back‑catalogue sales, however, surged 46.5 % to €16.1 million in the quarter and 31.2 % for the year, underscoring sustained demand for legacy titles.
Accessories sales were constrained by postponed launches of the REVOSIM range and the Xbox Revolution X Unlimited controller, which will debut in 2025/26. Nacon anticipates a sharper growth trajectory for the next fiscal year, driven by an expanded release calendar of over ten new games across sports, racing, adventure and simulation genres, as well as the launch of high‑profile accessories in the first half of 2025/26. Production expansion at a new French controller plant and continued reliance on Vietnamese manufacturing for U.S. inventory are expected to support this outlook.
- Nacon’s 2024/25 consolidated sales remained stagnant at €167.9 million, showing negligible growth compared to the previous year's €167.7 million.
- Gaming revenue declined 3.8% to €97.1 million, driven by a 35.8% drop in new-game catalogue sales due to a limited release schedule of only two titles in the fourth quarter.
- Back-catalogue performance served as a key stabilizer, with sales surging 31.2% for the full year and 46.5% in the fourth quarter alone.
- Accessories revenue grew 4.1% to €65.2 million, though growth was constrained by the postponement of the REVOSIM range and the Xbox Revolution X Unlimited controller to the 2025/26 fiscal year.
- The company projects a stronger 2025/26 fiscal year, supported by an expanded pipeline of over ten new titles across sports, racing, adventure, and simulation genres.
Sales for the First 9 Months of Fiscal Year 2025-26
NACON reported consolidated sales of €124.2 million for the first nine months of fiscal year 2025‑26, a decline of 4.4 % compared with €129.9 million in the same period last year. Total game revenue rose 1.9 % to €25.9 million, driven by a 39.9 % increase in catalogue sales (€13.7 million) from new titles such as Hell is Us, Cricket 26 and Rennsport. Back‑catalogue sales fell 21.8 % to €12.2 million, largely due to a high base and market contraction. Accessories revenue dropped 29.1 % to €17.9 million, with the United States market still impacted by customs duties; the decline eased from 66 % in Q2 to 38 % in Q3. Other mobile and audio sales grew modestly by 4.6 %.
Quarterly performance varied: Q1 saw a 2.9 % drop, Q2 grew 4.5 %, while Q3 declined 12.8 %. The company attributes the Q3 downturn to weaker accessories sales, despite strong catalogue momentum. NACON’s outlook for 2025‑26 remains conservative; it now expects activity comparable to the previous year, citing continued catalogue releases (e.g., Styx: Blades of Greed, GreedFall The Dying World) and anticipated accessory sales in Europe, including the Switch 2 and a new RIG R5 PRO HS headset. The company’s 16 studios, AA publishing arm, and peripheral design capabilities underpin its market position across 100 countries through 25 subsidiaries.
- NACON reported consolidated sales of €124.2 million for the first nine months of fiscal year 2025-26, representing a 4.4% decline compared to the same period last year.
- Total game revenue grew 1.9% to €25.9 million, fueled by a 39.9% surge in new catalogue sales from titles like 'Hell is Us', 'Cricket 26', and 'Rennsport'.
- Accessories revenue dropped 29.1% to €17.9 million, primarily due to ongoing impacts from customs duties in the United States market.
- Back-catalogue sales fell 21.8% to €12.2 million, attributed to a high base effect and broader market contraction.
- Quarterly performance was inconsistent, featuring a 2.9% drop in Q1, 4.5% growth in Q2, and a 12.8% decline in Q3.
Annual Financial Report: 2019/20
1. FOCUS HOME INTERACTIVE presentation pages 5 to 9 2. Declaration by the person responsible page 11 3. Management Board’s report pages 15 to 33 4. Supervisory Board’s report pages 37 to 41 5.
- Focus Home Interactive's gross profit grew 20% to €36.6M, with a gross margin of 31% (up from 29% last year), and operating profit increased 36% to €19.2M for the year ended March 31, 2020.
- The Group held a net cash position of €18M on March 31, 2020.
- Focus Home Interactive has established new collaborations with Saber (for new projects and porting existing titles to Nintendo Switch and mobile) and Sumo Digital (for a new multiplayer game developed by Sumo Newcastle).
- The company successfully released "World War Z" in April 2019, developed with Saber and based on the Paramount film.
- Focus Home Interactive held 8,295 of its own shares valued at €148,978 as part of a liquidity contract and an additional 151,759 shares under its stock buyback program as of March 31, 2020.
Annual Financial and Corporate Social Responsibility Report: 2020/21
ANNUAL FINANCIAL REPORT AT 31 MARCH 2021 1. Introduction pages 5 to 9 2. Declaration by the person responsible page 11 3. Management Board’s report pages 13 to 34 4. Supervisory Board’s report pages 35 to 43 5.
- Focus Home Interactive's revenue increased significantly from €137.8M in 2020 to €166.5M in 2021, with net income totaling €14.7M for the year ended March 31, 2021.
- The company's balance sheet assets grew from €90.9M in March 2020 to €122M in March 2021, and equity increased from €57.7M to €72.4M during the same period.
- Focus Home Interactive bought back 127,753 shares in 2020/21, down from 151,759 shares the previous year, and sold 36,015 shares, with 27,099 used to acquire Deck 13 Interactive.
- The Supervisory Board saw significant changes, with Fabrice Larue appointed Chairman on July 27, 2020, replacing Denis Thébaud, and new members Louise Tingström and Thaima Samman appointed on April 16, 2021.
- Focus Home Interactive faces currency risks, particularly with the US dollar and British pound, and uses hedging strategies to mitigate potential impacts on profitability.
Annual Financial Report and CSR Report: 2021/2022
ANNUAL FINANCIAL REPORT AS OF 31 MARCH 2022 1. INTRODUCTION pages 3 to 7 2. DECLARATION BY THE PERSON RESPONSIBLE page 8 3. MANAGEMENT REPORT pages 9 to 24 4. BOARD REPORT ON CORPORATE GOVERNANCE pages 25 to 33 5. AUDITOR’S REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS FOR YEAR ENDED 31 MARCH 2022 pages 34 to 36 6.
- Focus Entertainment acquired 77.5% of Dotemu for €53.5M on September 30, 2021, resulting in goodwill of €60.7M and significantly increasing the gross value of goodwill from €6.257M to €72.747M.
- The company's commitments to studios and right holders dramatically increased from €39.290M in 2021 to €120.786M in 2022, with €59.183M due within one year.
- Focus Entertainment paid a €2.9M fine to the European Commission on July 12, 2021, related to an investigation into alleged technical and contractual restrictions on PC game circulation in Europe.
- The proportion of sales billed in US dollars was 55% of consolidated revenue as of March 31, 2022, exposing the company to currency risk, though game sales in USD can partially offset USD-denominated costs.
- The company bought back 181,643 shares by March 31, 2022, as part of a program authorizing the buyback of up to 250,000 shares, and held 299,365 of its own shares at that date.
Annual Financial Report and CSR Report: 2022/2023
ANNUAL FINANCIAL REPORT AS OF 31 MARCH 2023 1. INTRODUCTION pages 3 to 7 2. DECLARATION BY THE CHIEF EXECUTIVE OFFICER page 8 3. MANAGEMENT REPORT pages 9 to 24 4. REPORT ON CORPORATE GOVERNANCE pages 25 to 34 5. STATUTORY AUDITORS’ REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 MARCH 2023 pages 35 to 37 6.
- On June 16, 2022, Dotemu successfully launched Teenage Mutant Ninja Turtles: Shredder’s Revenge, selling over 1 million copies within one week of its release for PC, Nintendo Switch, PlayStation 4, and Xbox One.
- On September 5, 2022, FOCUS ENTERTAINMENT acquired 66.67% of WW1 Game Series B.V. (renamed BlackMill Games B.V.) for €5.5 million, making it the sixth development studio to join the Group.
- The company changed its name from Focus Home Interactive to FOCUS ENTERTAINMENT on April 1, 2022, to better reflect its main business lines and values.
- Goodwill increased by €3,151 from March 31, 2022, to March 31, 2023, reaching €71,826, though Dotemu's goodwill decreased by €8,886 during the same period.
- The average workforce increased from 307 on March 31, 2022, to 398 on March 31, 2023, with significant growth in production roles (201 to 269) and administration (52 to 85).
Annual Financial Report and CSR Report: 2023-2024
ANNUAL FINANCIAL REPORT AS OF 31 MARCH 2024 1. INTRODUCTION pages 3 to 6 2. DECLARATION BY THE CHIEF EXECUTIVE OFFICER page 7 3. MANAGEMENT REPORT pages 8 to 26 4. REPORT ON CORPORATE GOVERNANCE pages 27 to 38 ON THE CONSOLIDATED FINANCIAL STATEMENTS AS OF 31 MARCH 2024 pages 39 to 40 6.
- PULLUP Entertainment (formerly FOCUS ENTERTAINMENT) reported a consolidated net loss of €19,244K for the financial year ended March 31, 2024, a significant decrease from the €10,261K net profit in the previous year, representing a 288% decline.
- Revenue decreased by 3% to €187,334K as of March 31, 2024, from €194,104K in the prior year, while game development costs nearly doubled, increasing by 99% to €64,726K from €32,509K.
- The company acquired UK studio Dovetail Games, known for simulation franchises like Train Simulator Classic and Train Sim World, with the acquisition consolidated into PULLUP Entertainment's accounts from April 20, 2023, and expected to have a slightly accretive impact on profit margin.
- PULLUP Entertainment drew an additional €20M on its credit line for the Dovetail Games acquisition and pledged 50.1% of Dotemu shares and 98% of Dovetail Games Holding shares to creditors.
- The company's net debt increased significantly from €27,260K to €132,646K as of March 31, 2024, primarily due to new bank loans totaling €70,500K.
Q3 2022 Earnings Call: Stillfront Group AB
Stillfront Group AB<sub>(</sub>SF.SE ) Stillfront Group AB<sub>(</sub>SF.SE) Corrected Transcript Q3 2022 Earnings Call 26-Oct-2022 Chief Executive Officer, Stillfront Group AB ChiefFinancial Officer, Stillfront Group AB ..........................................................................................................................................................................................
- Stillfront Group AB's Q3 2022 earnings show a strong cash flow generation of almost SEK 500 million after net working capital adjustments, enabling continued investment in their portfolio and platform.
- The company's active portfolio consists of 77 games, with mobile games accounting for 77% of the share and ad bookings making up 14% of revenues. Casual & Mash-up games represent 43% of revenues, and Strategy games 35%.
- Stillfront Group AB invested SEK 257 million in new products and their platform, representing 14.4% of their revenues, and settled SEK 290 million in 2021 cash earn-outs this quarter, with no further 2021 earn-outs remaining.
- The company achieved growth with less User Acquisition (UA) spend by leveraging live operations (live ops) and expects increased synergies from live ops across its diversified studio and game teams.
- Stillfront Group AB reported a stable uplift in Daily Active Users (DAU), Monthly Active Users (MAU), and Monthly Paying Users (MPU) year-over-year, driven by acquisitions and strong performance in Strategy games.
Half-Yearly Report and Trading Update: 2015-2016
HALF-YEARLY REPORT AND TRADING UPDATE Games Workshop Group PLC (“Games Workshop” or the “Group”) announces its half-yearly results for the six months to 29 November 2015. Six months to Six months to 29 November 30 November 2015 2014 Revenue £55.3m £56.5m Revenue at constant currency £56.9m £56.5m Operating profit pre-royalties receivable ...
- Games Workshop's pre-tax profit for the year to May 29, 2016, is projected to be no more than £16 million, and December sales were below expectations across the Group.
- Revenue for the six months to November 29, 2015, decreased to £55.3 million from £56.5 million in the prior year, though it increased to £56.9 million at constant currency.
- Operating profit remained flat at £6.2 million for the six months to November 29, 2015, compared to the previous year, but core business operating profit (pre-royalties) fell by £0.8 million to £4.7 million.
- Return on capital declined from 38% in November 2014 to 36% in November 2015, attributed to increased average capital employed and a decline in operating profit before royalties.
- Royalties receivable from licensing significantly increased from £0.7 million to £1.5 million in the period.
Half-Yearly Report: 2016-2017
Games Workshop Group PLC (“Games Workshop” or the “Group”) announces its half-yearly results for the six months to 27 November 2016. 27 November 29 November Revenue £70.9m £55.3m Revenue at constant currency £62.7m £55.3m Operating profit pre-change in accounting estimates and royalties receivable £9.7m £4.7m Impact of change in accounting estimates ...
- Games Workshop Group PLC reported significant growth for the six months to November 27, 2016, with total revenue increasing to £70.9m from £55.3m in the prior year, and operating profit more than doubling to £13.8m from £6.2m.
- Profit before tax for the period surged to £13.8m, up from £6.3m in the previous year, while basic earnings per share more than doubled to 34.0p from 14.9p.
- The company experienced sales and profit growth across all channels, with Trade revenue increasing to £29.3m (actual rates) from £22.4m, Retail to £29.2m from £21.5m, and Mail Order to £12.4m from £11.4m.
- A change in accounting estimates for amortisation of development costs and depreciation of moulding tools, effective May 30, 2016, positively impacted operating profit by £0.8m for the six months to November 27, 2016.
- Cash generated from operations saw a substantial increase, rising to £19.6m from £8.6m in the comparable period, and dividends per share declared increased to 25p from 20p.
Half-Yearly Report: 2017
Games Workshop Group PLC (“Games Workshop” or the “Group”) announces its half-yearly results for the six months to 26 November 2017. 26 November 27 November Revenue £108.9m £70.9m Revenue at constant currency £108.6m £70.9m Operating profit pre-change in accounting estimates and royalties receivable £33.4m £9.7m Impact of change in accounting estimates ...
- Games Workshop Group PLC reported record sales and profit for the six months to November 26, 2017, with revenue increasing by 53.6% to £108.9 million (from £70.9 million in 2016) and operating profit soaring by 181.2% to £38.8 million (from £13.8 million in 2016).
- This strong performance translated into significantly higher earnings per share, which rose from 34.0p in 2016 to 97.6p in 2017, and a substantial increase in dividends declared, from 25p to 61p per share.
- Growth was broad-based, with sales and profit increasing across all regions and channels, including a 71% rise in online shop sales and a 22% increase in digital publication sales through Apple, with new distribution channels like Amazon and Audible also launched.
- The company's focus on its 'Warhammer Hobby' and continuous improvement of its miniatures range, combined with effective cost management, contributed to these record financial results and strong cash generation (£41.2 million from operations).
- Games Workshop also saw significant growth in its Trade segment (up 63.5% to £47.96 million) and Mail Order segment (up 71.2% to £21.28 million) in external revenue for the period.
Half-Yearly Report: 2018-2019
Games Workshop Group PLC (‘Games Workshop’ or the ‘Group’) announces its half-yearly results for the six Six months to Six months to 2 December 2018 26 November 2017 Revenue £125.2m £109.6m Revenue at constant currency £124.2m £109.6m Operating profit pre- royalties receivable £35.3m £34.5m Royalties receivable ...
- Games Workshop Group PLC reported a significant increase in revenue for the six months to December 2, 2018, reaching £125.2 million, up from £109.6 million in the same period last year.
- Operating profit and pre-tax profit also saw growth, rising to £40.8 million for the six months to December 2, 2018, compared to £38.1 million in the prior year.
- Basic earnings per share increased to 100.8p from 96.0p, and the dividend per share declared in the period rose to 65p from 61p.
- Trade segment revenue experienced substantial growth, increasing from £48.0 million to £61.4 million, while Retail revenue grew from £39.6 million to £42.6 million.
- Cash generated from operations decreased to £36.0 million from £41.2 million, primarily due to increased investment in working capital.