Guillemot (GUI) H1 2024 earnings summary

Executive summary

• Turnover rose 16% year-over-year to €56 million in H1 2024, with net operating income at €3.6 million versus a €3.9 million loss in H1 2023.

• Gross margin improved to 56% from 45% year-over-year, approaching 2022 levels.

• Consolidated net income reached €2.5 million, reversing a €2.9 million loss in H1 2023.

• Major product launches and a strategic partnership with JD.com in China are expected to boost future growth.

• Thrustmaster signed a three-year strategic sales agreement with JD.com to expand in China.

Financial highlights

• Revenue: €56.0 million (up from €48.1 million year-over-year).

• Net operating income: €3.6 million (vs. -€3.9 million year-over-year).

• Net income: €2.5 million (vs. -€2.9 million year-over-year).

• Gross margin: 56% (up from 45% year-over-year).

• Earnings per share: €0.17 (vs. -€0.19 year-over-year).

Outlook and guidance

• Forecasts continued sales growth and net operating profit for fiscal 2024.

• Major new product launches and leveraging partnerships, including Microsoft Flight Simulator 2024, are expected to drive market share gains.