Nacon

Nacon reported a 24.5 % rise in first‑quarter sales for FY 2020/21, reaching €38.0 million against €30.5 million in the same period a year earlier, confirming its annual financial targets. The growth was driven primarily by accessories and digital game sales. Accessories surged 134.9 % to €22.5 million, propelled by the launch of the RIG premium headset line and a new U.S. subsidiary. Digital game sales, which accounted for 80.7 % of total game revenue, offset a decline in new releases; back‑catalogue sales jumped 340 % to €10.8 million, matching the entire previous year’s back‑catalogue volume.

Game sales fell to €14.5 million from €20.0 million due to a strong comparison base of major titles released in the prior fiscal year, but the accelerated digital channel and successful releases such as Hunting Simulator 2 and Pro Cycling Manager/Tour de France 2020 mitigated the impact. Other revenue categories remained flat.

Geographically, Nacon operates through 16 subsidiaries and a distribution network spanning 100 countries, with recent expansion into the United States. The company’s outlook for Q2 and the remainder of FY 2020/21 remains positive, citing upcoming releases (WRC 9, Tennis World Tour 2, Monster Truck Championship), continued digital momentum, and a new partnership with Microsoft for console‑compatible controllers. Nacon projects FY 2020/21 sales between €140–€150 million and a 18 % operating margin, while maintaining its 2023 plan targets of €180–€200 million sales and over 20 % margin for FY 2022/23.

Nacon’s audited consolidated results for the fiscal year ending 31 March 2022 show sales of €155.9 million, a decline of 12.3 % from the previous year’s €177.8 million, driven largely by a 21.1 % drop in the Games segment after postponing several releases to FY 2022‑23. The Accessories segment, however, remained resilient amid global console shortages, recording €96.6 million in sales (down 6.3 %) and contributing a higher proportion of revenue (62 % versus 58 % previously). Gross margin fell to €77.8 million (49.9 % of sales) from €93.5 million (52.6 %) due to the altered product mix, though price increases offset rising shipping and raw‑material costs. EBITDA contracted 26 % to €44.6 million (28.6 % of sales), and current operating income dropped 41.6 % to €19.0 million (12.2 % of sales). Net profit fell 45.3 % to €10.0 million (6.4 % of sales).

The balance sheet reflects significant investment activity: shareholders’ equity rose to €228.4 million, new bank debt of €52.5 million was issued at sub‑1 % interest, and net debt remained low at €10.4 million. Working capital increased by €8.7 million due to higher inventories, while operating cash flow reached €32.4 million and intangible CAPEX totaled €57.4 million. Over the past two years, Nacon has invested over €100 million in game development and acquired nine studios, expanding its pipeline to 46 titles from 33.

Management projects a sharp rebound in FY 2022‑23, targeting sales above €250 million and a current operating margin exceeding €50 million, supported by new releases such as Vampire: The Masquerade®‑Swansong and The Lord of the Rings Gollum. The company will continue external growth through studio acquisitions, notably Midgar Studio and Daedalic Entertainment.

Nacon reported FY 2021/22 sales of €155.9 million, a 12.3 % decline from the previous year’s €177.8 million. The drop was driven mainly by a 25.6 % fall in fourth‑quarter sales to €31.7 million, largely due to postponed game releases such as Vampire: The Masquerade® – Swansong. Game sales for the year fell 21.2 % to €54.4 million, while accessories declined 6.3 % to €96.6 million; mobile and audio sales also contracted by 13.7 %. The back‑catalogue segment performed modestly better, up 12.7 % to €6.9 million.

Quarterly performance showed a sharp decline in Q1 (€33.7 M) and Q2 (€39.3 M), a modest rebound in Q3 (€51.2 M, +5.2 %), and a significant drop in Q4 (€31.7 M). The company’s operating income for the year is projected between €17 million and €19 million, reflecting the weaker Q4 results.

Looking ahead to FY 2022/23, Nacon anticipates a strong rebound driven by a robust game pipeline—including titles such as Vampire: The Masquerade® – Swansong, Zorro The Chronicles, and Tour de France 2022—and expects sales between €250 million and €300 million with an operating margin above 20 %. The strategy includes further external growth through acquisitions of Midgar Studio and Daedalic Entertainment to enhance internal development capabilities.

The figures cover global operations across 20 subsidiaries, with a workforce of over 700 employees and distribution in more than 100 countries. The data are presented under IFRS, with non‑audited figures for the fourth quarter and a note that mobile and audio sales are included in the “Others” category.

Nacon reported a rebound in Q3 2021/22, with sales rising 5.2 % to €51.2 million after two quarters of decline driven by a high comparison base from lockdown‑related demand spikes. The growth was led by the games catalogue, which generated €14.3 million (+3.4 %) and a strong back‑catalogue contribution of €5.5 million, while accessories grew 7.4 % to €34.9 million thanks to the launch of the Revolution X Pro Controller, though global console shortages limited further upside. Other segments, including mobile and audio sales, contracted by 14.4 % to €2.0 million.

Cumulative sales for the first nine months fell 8.2 % to €124.2 million, with games down 10.9 % and accessories down 6.4 %. Nacon confirmed its FY 2021/22 targets of €150–180 million in sales and an operating income near €20 million. For FY 2022/23, the company projects a robust publishing pipeline of over 15 titles—including high‑profile releases such as Vampire: The Masquerade® – Swansong—and anticipates sales of €250–300 million with an operating margin above 20 %. The strategy includes selective acquisitions to strengthen the catalogue and position Nacon as a leading player in the global video‑game market. The outlook is based on continued demand for both new releases and established titles, with accessories sales expected to benefit from ongoing headset and controller launches across major console platforms.

INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020 – NACON SIX MONTHS ENDED 30 SEPTEMBER 2021 SIX MONTHS ENDED 30 SEPTEMBER 2021 TABLE OF CONTENTS 2 1> STATEMENT BY THE PERSON RESPONSIBLE .3 2> BUSINESS REPORT 4 2.1 Key events in the first half of 2021/22 ...

Nacon released audited consolidated results for the first half of fiscal year 2021/22, reporting sales of €73.0 million, a 15.7 % decline from the comparable period in 2020/21. Gross margin fell to €38.0 million (52.1 % of sales) and EBITDA dropped 29.7 % to €21.4 million (29.3 % of sales). Current operating income fell 46.3 % to €8.4 million, representing 11.6 % of sales, while net profit contracted 60.4 % to €3.8 million (5.2 % of sales). The decline is attributed mainly to a weaker editorial portfolio—video‑game sales fell 16.9 % to €27.3 million—and a high comparison basis for accessory sales, which decreased 15.1 % to €43.7 million.

The balance sheet remained solid, with shareholders’ equity at €219.0 million and cash reserves of €62.6 million, reflecting recent studio acquisitions and catalogue development. Working‑capital requirements increased by €2.5 million due to inventory build‑up, while operating cash flow reached €17.7 million and investment outflows rose to €45.6 million.

In response, Nacon revised its 2021/22 targets downward (sales €150–180 million; current operating income near €20 million) and lifted 2022/23 expectations (sales €250–300 million; operating‑income rate >20 %). The company postponed several high‑profile releases to 2022/23, citing a need for additional development time to enhance quality. The acquisition of Ishtar Games was completed on 25 November 2021, expanding Nacon’s studio portfolio. The outlook highlights a strong editorial pipeline for 2022/23, with over fifteen new titles and continued growth of the back‑catalogue.

Nacon reported first‑half sales of €72.8 million in FY 2021/22, a decline of 15.9 % versus €86.6 million in the same period of FY 2020/21. The drop reflects a strong comparison base and logistical delays, particularly in the United States where supply‑chain disruptions affected shipments of PlayStation 4 and Xbox consoles. Games sales fell 18.7 % to €14.9 million, while accessories declined 20.1 % to €23.2 million; the “others” segment, comprising mobile and audio sales, saw a 17.2 % reduction to €1.1 million.

Quarterly performance mirrored the overall trend: Q2 sales of €39.2 million were 19.5 % lower than Q2 FY 2020/21, driven by a weaker base and shipping constraints. The company highlighted resilient back‑catalogue performance in games, with €6.9 million in sales that remained stable despite fewer new releases.

Looking ahead, Nacon expects a rebound in the second half of FY 2021/22, citing an expanded game slate—including Cricket 22, Rugby 22, Blood Bowl 3, Train Life, Hotel Life and the narrative RPG Vampire: The Masquerade – Swansong—and new accessories such as the Revolution X Pro controller. Management reaffirmed FY 2021/22 revenue targets of €180–200 million and a 20 % operating margin, while projecting FY 2022/23 sales of €230–260 million with a similar margin.

The company’s methodology relies on non‑audited IFRS data, covering global sales across 100 countries through its 20 subsidiaries and a network of distributors. Nacon’s strategy includes continued acquisitions of development studios, initiated in 2018, to expand its intellectual property portfolio and support future growth.

Société anonyme governed by a Board of Directors with share capital of €86,321,932 Registered office: 396/466 rue de la Voyette, CRT 2, 59273 Fretin, France Registration number: 852 538 461 RCS Lille Métropole UNIVERSAL REGISTRATION DOCUMENT Including the 2021/22 annual financial report This universal registration document (URD) was filed on 22 June 2022 with the Autorité des Marchés Financiers (“AMF”) as the competent authority in respect of regulation (EU) 2017/1129, without prior approval in ...

Nacon reported first‑quarter sales of €33.7 million for the period 1 April to 30 June 2021, a decline of 11.3 % versus the same quarter in 2020‑21. The drop reflects an unfavorable comparison basis, yet back‑catalogue performance remained resilient with €9.2 million in sales compared to €10.8 million during the initial lockdown, and a substantial 340 % lift in back‑catalogue revenue that quarter. Game sales fell 16 % to €12.2 million, while accessories declined 8.8 % to €20.6 million; the accessories segment benefited from a 19 % rise in non‑RIG helmet ranges, notably PlayStation 4 and Xbox® controllers. Mobile and audio sales remained flat at €0.9 million.

The company confirmed its 2021‑22 and 2022‑23 targets, projecting total annual sales of €180–200 million with a current operating income (COI) margin of 20 %. For FY 2022‑23, Nacon aims for €230–260 million in sales and a COI margin above 20 %, supported by four major game launches (Test Drive Unlimited Solar Crown, Steelrising™, The Lord of the Rings™: Gollum™, and Session™). Second‑half growth is expected from additional titles such as Blood Bowl 3®, Rugby22®, Train Life, Hotel Life, Rogue Lords, and Vampire: The Masquerade®‑Swansong. Nacon’s integrated structure—comprising 11 development studios, publishing of AA titles, and premium hardware design—underpins its strategy to leverage synergies across a global distribution network covering 100 countries. The company, listed on Euronext Paris, employs over 600 staff and operates through 16 subsidiaries.

NACON reported consolidated sales for the fiscal year 1 April 2022 to 31 March 2023, with total revenue of €156.4 million, a marginal increase of 0.3 % over the prior year. Quarterly performance showed a strong rebound in Q4, where sales rose 19.1 % to €37.7 million after a 19.6 % decline in Q3. The Games segment dominated the growth, increasing by 67.0 % to €90.9 million for the full year; new‑catalogue sales surged 93.0 % to €24.9 million, driven by releases such as Chef Life and Transport Fever 2 Console Edition. Back‑catalogue sales also expanded, reaching an all‑time high of €11.2 million in Q4 and growing 61.2 % year‑over‑year. Accessories revenue fell 36.6 % to €61.2 million, largely due to a global console shortage that dampened demand for new‑generation hardware; however, the decline slowed in Q4, suggesting a potential rebound. Other categories, including mobile and audio sales, contracted 13.1 % to €4.3 million.

The company anticipates a decline in operating income before IFRS2 for FY 2023‑24 but expects overall operating and net income to rise. Management projects a robust publishing pipeline with roughly twenty titles slated for release, including high‑profile games such as The Lord of the Rings: Gollum and RoboCop: Rogue City. The back‑catalogue is expected to continue benefiting from the mechanical effect of new releases, while accessories sales should recover as console supply normalizes and new product offerings expand. NACON’s outlook remains positive, underscoring confidence in continued growth across its video‑game and accessories businesses.

INTERIM FINANCIAL REPORT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2020 – NACON SIX MONTHS ENDED 30 SEPTEMBER 2022 SIX MONTHS ENDED 30 SEPTEMBER 2022 TABLE OF CONTENTS 2 1. STATEMENT BY THE PERSON RESPONSIBLE .3 2.

NACON reported Q3 2022‑23 sales of €41.1 million, a 4.5 % decline from the same period in 2021‑22, bringing cumulative nine‑month sales to €118.7 million versus €124.2 million previously. The decline was driven largely by a sharp 41.5 % drop in accessories sales, attributed to global shortages of new‑generation consoles that forced retailers to tighten sourcing. Video game revenue rebounded, with catalogue sales up 17.2 % to €10.2 million and back‑catalogue sales surging 59.5 % to €8.8 million, supported by releases such as Vampire The Masquerade® – Swansong, Pro Cycling Manager 2022, and WRC Generations.

Quarterly performance varied: the first quarter saw a 25.8 % increase to €42.4 million, while the second quarter fell 10.7 % to €35.1 million and the third quarter declined 19.6 % to €41.1 million. Across the nine months, game sales grew 59 %, driven by catalogue and back‑catalogue growth, whereas accessories fell 37.8 % and other categories declined modestly.

Looking ahead, NACON anticipates a recovery in accessories sales as console shortages ease and plans to launch four new titles in Q4 2023, including Chef Life and Blood Bowl III. For FY 2023‑24, the company expects a modest rise in sales and operating income, buoyed by an expanded release calendar of roughly twenty games and a strengthening back‑catalogue pipeline. The outlook remains positive, with confidence in the company’s FY 2023‑24 prospects reaffirmed.