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Lesquin, 26 April 2021 17:45 hrs
FY 2020/21 Sales target exceeded:
177.9 M€ (+ 37.5% vs. FY 2019/20)
Gaming Accessories : 103.2 M€, +96.1%
Tripling of Gaming Back catalogue sales : 31.0 M€
IFRS – M€
(1) Non audited data
(2) Mobile and Audio sales.
A Q4 2020/21 particularly thriving: + 68.7%
In Q4 2020/21, Nacon recorded sales of 42.6 M€ driven by the performance of both Accessories and Games.
Video game sales rose 41.9% to 22.4 M€.
The increase in business was driven by the very good sales of the Werewolf® : the Apocalypse – Earthblood action-RPG as well as the releases of the PlayStation®5 / Xbox Series X|S versions of Monster Truck®, Tennis World Tour®2 and Hunting Simulator® 2,
The contribution of the back catalogue (3), generating high margins, doubled compared to Q4 2019/2020.
Digital sales grew steadily and represented 75% of Q4 game sales compared to 70% in the previous year.
In a global context of component shortages, NACON has been able to anticipate its supplies and thus to guarantee regular deliveries to distribution channels.
While waiting for the new consoles to take off, the installed base of more than 110 million PS®4 consoles around the world enabled NACON to generate sales of Accessories up sharply by 125.5% to 19.1 M€, with the success of the Pro Compact Controller® and Asymmetric Wireless Controller® in particular.
(3) Back catalogue = Video games released on previous fiscal years
Annual sales exceeding the target, already revised upwards at the end of November 2020
In FY 2020/21, NACON achieved a 37.5% increase in sales to 177.9 M€, exceeding the 160/170 M€ sales target revised upwards last November.
At the same time, in line with the strategy presented at the time of its IPO and fundraising in March 2020, NACON has actively pursued its development strategy over the past financial year:
the acquisitions of three development studios: Neopica, Passtech Games and BigAnt Studios ;
the successful establishment of NACON in the United States for more than a year with the deployment of RIG® accessories ;
the signature of a licensing agreement with Microsoft for the new Xbox® Series X|S console.
The video game business was characterised by a tripling of sales from the back catalogue to 31.0 M€ and by some great successes including Werewolf® : the Apocalypse - Earthblood, WRC® 9, Tennis World Tour® 2, Hunting Simulator® 2. Despite the postponement of major releases to FY 2021/22, sales were only slightly down (- 2.4%) to 69.1 M€ compared to FY 2019/2020.
The Accessories business achieved record sales of 103.2 M€, up 96.1%. This performance was due to the full-year contribution of premium RIG® headsets, sustained sales of licensed controllers, and the launch of accessories for the new Xbox® Series X|S console art the end of the fiscal year
2020/21 COI target confirmed at 18% and upcoming upward revision of NACON 2023 Plan
NACON confirms its COI rate of 18% in FY 2020/21.
The fundraising carried out during its IPO in March 2020 enabled Nacon to acquire studios and finance the development of new games scheduled for release between 2022 and 2024. The financial benefits of these investments should enable NACON to increase both its sales and its operating margin for FY 2022/23 and 2023/24.
At the same time, the Accessories business should continue to grow as the installed base of new consoles increases.
In this context, Nacon is particularly confident of achieving further growth momentum in the coming years.
Upon release of FY 2020/21 Annual Results on May 31, NACON will present its forecast for FY 2021/22 and will revise upwards its guidance for its 2023 NACON Plan.
(1) Current Operating Margin = Current Operating Income rate = Current Operating Income as a percentage of sales.
Annual Results 2020/21: 31 May 2021 (Press release after close of the Paris stock exchange)
SFAF meeting: Tuesday 1 June 2021 (Presentation to the financial community – French language)