PRESS RELEASE: NACON: RETURN TO GROWTH FOR Q3 2021-22 (+5,2%)
NACON Press release
Lesquin, 24 January 2022 – 18:00
RETURN TO GROWTH FOR Q3 2021-22 (+5,2%)
CONFIRMATION OF 2021/22 & 2022/23 TARGETS
IFRS – M€ | 2021/22 | 2020/21 | Change |
Sales | |||
| 33.7 | 38.0 | -11.3% |
| 39.3 | 48.6 | -19.1% |
3rd Quarter (Oct.-Dec.) (1) | 51.2 | 48.6 | +5.2% |
Games | 14.3 | 13.8 | +3.4% |
Accessories | 34.9 | 32.5 | +7.4% |
Others(2) | 2.0 | 2.3 | -14.4% |
Cumulative 9 months (April-Dec.) (1) | 124.2 | 135.3 | -8.2% |
Games | 41.6 | 46.6 | -10.9% |
Accessories | 78.7 | 84.1 | -6.4% |
Others (2) | 4.0 | 4.5 | -12.2% |
(1) Non audited data | |||
(2) Mobile and Audio sales |
Q3 sales rebound to 51.2 M€ i.e. +5.2%
In Q3 2021/22, Nacon returned to growth after two quarters which had been impacted by a very high comparison basis due to the lockdown periods favourable to the business. Sales growth over the period was driven by the strong performance of the games catalogue* and gaming accessories.
GAMES
The Video Games business posted sales of 14.3 M€, up 3.4% over the quarter. This increase was driven by the release of Cricket 22®, which got off to a commercial start in line with expectations. The back catalogue** held up well with sales of 5.5 M€.
ACCESSORIES
The Accessories business also grew by 7.4% to 34.9 M€ over the period. The 3rd quarter of FY 2021/22 saw the release of the new Revolution X Pro Controller. This good performance could have been amplified without the worldwide shortage of consoles (PlayStation®4 and new generation consoles).
Q4 sales to be impacted by postponed game releases
In Q4 2021/22, Nacon will continue to benefit from the success of Cricket 22® and the launch of Rugby22®. However Games sales are expected to be down sharply, given a weak publishing activity over the period with the postponement of Vampire: The Masquerade®- Swansong, release to FY 2022/23.
After the success of the Revolution X Pro Controller for Xbox® launched in October 2021, Accessories will enjoy ongoing sales in Q4 of headsets (PlayStation®4, PlayStation®5, Xbox One®, Xbox® Series X|S) and controllers for PlayStation®4 and Xbox® Series X|S.
For FY 2021/22, Nacon confirms its year-end targets with sales expected between 150 M€ and 180 M€ and a current operating income around 20 M€.
Outlook confirmed fo FY 2022/23
In FY 2022/23, Nacon anticipates sustained sales thanks to a buoyant publishing activity. More than 15 games are expected to be released during the year. Among them, the highly anticipated Vampire: The Masquerade®- Swansong and 4 other major games (SteelrisingTM, The Lord of the Rings™: Gollum™, SessionTM and Test Drive Unlimited Solar Crown TM). At the same time, Nacon will continue a policy of selective acquisitions in order to enhance its catalogue and become one of the leading players in the sector.
In this context, Nacon confirms its targets for FY 2022/23 with sales ranging between 250 M€ and 300 M€ as well as an operating margin exceeding 20%.
* Catalogue: games released during the current financial year
** Back catalogue: games released in previous financial years
Next Publication :
Q4 2021/22 Sales: 25 April 2022, Press release after close of the Paris stock exchange
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