Guillemot (GUI) Q3 2024 TU earnings summary

Executive summary

• Third quarter 2024 turnover reached €36.5 million, up 3% year-over-year; nine-month turnover up 11% to €92.5 million.

• Thrustmaster sales grew 16% over nine months, driven by successful product launches; Hercules sales declined 22% due to base effect and increased competition.

• North America saw 26% sales growth in Q3, while Europe/UK remained stable and rest of world declined 10%.

Financial highlights

• Thrustmaster Q3 sales: €33.5 million (+9% year-over-year); Hercules Q3 sales: €3.0 million (-38%).

• Nine-month Thrustmaster sales: €84.2 million (+16%); Hercules: €8.3 million (-22%).

• Group had no net debt at September 30, 2024; net debt excluding investment securities at -€14.9 million.

• Investment securities (Ubisoft shares) valued at €4.5 million as of September 30, 2024.

Outlook and guidance

• Expects to gain market share in Q4 2024 due to new product launches.

• Maintains forecast of sales growth and net operating profit for fiscal 2024.