Guillemot (GUI) Q1 2025 TU earnings summary

Executive summary

• First quarter 2025 turnover was €25 million, a 10% decrease year-over-year, mainly due to lower racing wheel sales, while joystick and gamepad sales increased.

• Thrustmaster is launching new racing wheels and modular pedal sets to enhance competitiveness and address market shifts.

• Hercules introduced new DJ controllers and software, targeting the Asian market and advanced users.

Financial highlights

• Turnover for Q1 2025 was €25 million, down 10% from €27.8 million in Q1 2024.

• Thrustmaster segment revenue fell 11% year-over-year to €22 million.

• Hercules segment revenue declined 3% year-over-year to €3 million.

• Net debt (excluding investment securities) was negative at -€26.7 million as of March 31, 2025.

• Ubisoft Entertainment shares held as investment securities were valued at €5 million.

Outlook and guidance

• New U.S. tariffs and economic uncertainty are expected to depress demand for gaming accessories.

• Sales forecast for 2025 has been lowered; turnover now expected to exceed €110 million.

• Full-year operating profit forecast for fiscal 2025 is maintained.