PRESS RELEASE: NACON: FIRST HALF 2023/24 SALES: €70.8 million

Written by Customer Service on . Posted in Public Companies.

                                                Press release

Lesquin, 30 October 2023, 18:00

FIRST HALF 2023/24 SALES: €70.8 million
STRONG GROWTH EXPECTED IN THE SECOND HALF
CONFIRMATION OF 2023/24 GUIDANCE

NACON (ISIN FR0013482791) today publishes its consolidated sales for the first half of its 2023/24 financial year (period from 1 April to 30 September 2023).

IFRS (€ million) 2023/24

 2022/23

 % change
Sales
First quarter (April-June) 38.5 42.4 -9.3%
       
Second quarter (July-September) 32.3 35.1 -8.0%
       
Gaming 16.9 19.4 -12.9%
of which: Catalogue 7.5 10.5 -28.2%
Back catalogue 9.3 8.9 +5.2%
Accessories 14.5 14.5 -0.5%
Other(1) 1.0 1.2 -21.5%
       
First half (April-September) 70.8 77.5 -8.7%
       
Gaming 44.3 47.0 -5.7%
of which: Catalogue 23.1 25.4 -9.0%
Back catalogue 21.2 21.6 -1.8%
Accessories 24.9 28.5 -12.7%
Other(1) 1.6 2.0 -21.5%
       

(1) Mobile and Audio sales

Decline in the second quarter ahead of a strong rebound expected in the second half

GAMING: Catalogue sales (new games) amounted to €7.5 million as opposed to €10.5 million in the year-earlier period. The change was due in particular to the high base for comparison (with SteelrisingTM released in the second quarter of 2022/23), since only two games were released at the end of the quarter: Overpass2TM and AD InfinitumTM.

As predicted, the back catalogue (games released in previous years) returned to growth with sales up 5.2% at €9.3 million.

ACCESSORIES: The upturn in the global accessories market seen in the first quarter of Nacon’s financial year was confirmed in the second, due to growth in the installed base of new consoles and excellent headset sales in the United States, where distributors are expecting strong sales at the end of the calendar year.

Outlook for 2023/24 : Strong growth expected in the second half

NACON has a busy release schedule for the third quarter.

  • Astérix & Obelix: Heroes TM and Cricket 24: Official Game of the Ashes TM came out on 5 October. Cricket 24 is the first cricket video game to feature such a large number of licensed teams, including the biggest Indian franchises. Initial sales are already very good.
  • Robocop: Rogue City TM has achieved record presales. It will be available from 2 November 2023 on PlayStation®5, Xbox Series X|S and PC.
  • Gangs of Sherwood TM will be released on 30 November on PlayStation®5, Xbox Series X|S and PC, and has received good previews.

The back catalogue should continue to see rising sales despite a high base for comparison.

The Accessories business will grow, driven by the installed base of new consoles and the release of some very promising new products in October:

  • Revolution 5 Pro controller: this is a premium controller officially licensed by PlayStation® and intended for PS5®, PS4TM and PC gamers. It is regarded as one of the best controllers in the market, combining design, ergonomics and innovations including Hall Effect technology, which gives greater precision to the joysticks and triggers. Initial sales are very promising.
  • RIG 600 PRO gaming headset: offering excellent value for money, this wireless headset has dual-connection technology, allowing users to connect to both their PC/console and mobile phone.

The fourth quarter will also have a strong line-up of new releases with several games slated to come out, particularly Test Drive Unlimited: Solar Crown TM.

Based on firm second-half sales, NACON confirms its outlook for strong growth in sales and operating income in its 2023/24 financial year.

Next key event:

First-half 2023/24 results
Monday 27 November 2023: Press release after the market close
Tuesday 28 November 2023: SFAF analyst meeting

 

ABOUT NACON

 
 

2022/2023 SALES:
€156.4 million

 

 

WORKFORCE
Over 1,000 employees

 

 

INTERNATIONAL PRESENCE
23 subsidiaries and a distribution network in 100 countries
https://corporate.nacongaming.com/

  

NACON is part of the Bigben group and was formed in 2019 to optimise its areas of expertise and generate synergies between them in the video game market. Combining its 16 development studios, AA video game publishing and the design and distribution of premium gaming peripherals, NACON has 30 years of expertise in serving gamers. This new unified business gives NACON a stronger position in its market and enables it to innovate by creating new and unique competitive advantages.

 

Listed on Euronext Paris, compartment B – Index: CAC Mid&Small
ISIN: FR0013482791; Reuters: NACON.PA; Bloomberg: NACON:FP).

 

CONTACT:
Cap Value – Gilles Broquelet gbroquelet@capvalue.fr – +33 1 80 81 50 01

 

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