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Lesquin, 25 April 2022 – 18:00hrs
FY 2021/22, A TRANSITION YEAR
ANNUAL SALES: 155.9 M€ (-12.3%)
VERY STRONG GROWTH EXPECTED IN FY 2022/23
NACON (ISIN FR0013482791) announced today its sales for the full 2021/22 financial year (period from 1st April until 31st March).
IFRS – M€
3rd Quarter (1)
4th Quarter (Jan. - March) (1)
Cumulative 12 mths (April-March) (1)
(1) Non audited data
(2) Mobile and Audio sales
A fourth quarter impacted by the postponement of the release of several video games
As announced, sales for the 4th quarter of FY 2021/22, at €31.7 M€, were down 25.6% on a like-for-like basis due to the weakness of the publishing business.
The Video Games business posted Q4 sales of 12.9 M€, down 42.6%. This change resulted from the postponement of several game releases to FY 2022/2023, in particular the highly awaited Vampire: The Masquerade® - Swansong title to 19 May 2022.
The only release of the quarter, Rugby 22, was well received and outperformed Rugby 20.
The back catalogue* business performed well with sales up 12.7% to 6.9 M€.
The Accessories business held up well against a backdrop of a shortage of consoles and an unfavourable geopolitical and economic environment. Sales were 17.9 M€ for the quarter, down 6.0%.
12-month sales in line with announced targets
For the full FY 2021/2022, sales amounted to 155.9 M€, within the range announced by the Group at the time of the publication of Q3 sales.
Sales were 54.4 M€ (-21.2%) for the Games business and 96.6 M€ (-6.3%) for the Accessories business.
Due to slightly lower than expected sales in Q4, current operating income is expected to be between 17 M€ and 19 M€ for the full year.
Strong acceleration of business and earnings growth expected in 2022/2023
The quantity and quality of the games expected for FY 2022/23 will have a "booster" effect on the activity of this new financial year.
Due to the high level of editorial activity (Vampire: The Masquerade® - Swansong, Zorro The Chronicles, Tour de France 2022 and Pro Cycling Manager), sales in Q1 2022/23 will be up sharply.
In this context, Nacon reiterates its targets of sales ranging between 250 M€ and 300 € for FY 2022/23 with a current operating margin in excess of 20%.
Following the acquisitions of Midgar Studio and Daedalic Entertainment, Nacon will further pursue its external growth strategy in order to strengthen its ability to develop new quality games internally.
Upon release of its FY 2021/22 results on May 30, Nacon will detail its business plan for the current year.
(*) Back catalogue: games released in previous financial years
Annual Results 2021/22: 30 May 2022 (Press release after close of the Paris stock exchange)