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Asmodee Group (ASMDEE) investor relations material
Asmodee Group Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 net sales rose 36.8% to €551.8m, including 33.3% organic growth, with double-digit gains in board games and TCGs.
Adjusted EBITDA increased 50% to €113.8m; margin expanded 170 bps to 20.6%, while LTM margin reached 18.1%, above the 18% medium-term target.
ATM Gaming integration remained on track, alongside expanded brand activations and commercial initiatives.
Financial highlights
H1 net sales were €973.9m, up 29.4% with 27.2% organic growth; adjusted EBITDA rose 51% to €175.7m.
Q2 free cash flow after tax and lease payments was €15.4m versus negative €24.0m; conversion was 13.5% versus negative 31.6%.
Q2 adjusted EBIT was €105.9m versus €68.6m; reported EBIT was €94.9m, including €5.1m in tariff refunds as items affecting comparability.
Q2 net profit was €57.6m versus a €6.2m loss; adjusted net profit was €69.3m, with basic EPS of €0.24 and adjusted EPS of €0.29.
H1 net profit was €74.6m versus a €7.8m loss; adjusted net profit was €101.0m and basic EPS was €0.32.
Outlook and guidance
Continued organic growth is expected, supported by the release pipeline, publishing capabilities and existing and new distribution partnerships.
Focus is to sustain adjusted EBITDA margin around the above-18% target while reinvesting; further improvement, if achievable, is expected at a slower pace.
Pokémon is expected to deliver moderate growth next fiscal year, partly offsetting the strong 30th-anniversary contribution; anniversary releases are balanced between Q2 and Q3.
ATM Gaming remains on track for annual sales above €50m and €25m EBITDA before synergies; Q3 is its largest quarter and represents half of direct sales.
2027 distribution agreements include Bandai’s NARUTO CARD GAME and Spin Master’s Hellbreak.
- Sales rose 23%, led by TCGs, as shareholders approved a EUR 0.17 dividend.ASMDEE
AGM 2026 - Double-digit sales and profit growth, margin expansion, and strategic acquisitions drive strong Q1.ASMDEE
Q1 26/27 - Double-digit sales and EBITDA growth, margin expansion, and strong cash flow achieved.ASMDEE
Q4 25/26 - Acquisition creates a global social games leader, driving growth and digital expansion.ASMDEE
M&A announcement - Record sales and EBITDA, strong TCG growth, improved leverage, and major strategic deals.ASMDEE
Q3 25/26 - Strong FY25 growth; no dividend, and AGM approved governance and share authorizations.ASMDEE
AGM 2025 - Trading card games drove 32% sales growth and margin gains, with leverage nearing targets.ASMDEE
Q1 25/26 - Targeting >18% EBITDA margin and mid-single-digit growth via IP, M&A, and sustainability focus.ASMDEE
CMD 2024 - Double-digit Q3 growth, strong cash flow, and strategic financing support long-term expansion.ASMDEE
Q3 24/25
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Next Asmodee Group earnings date
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