Nacon (NACON) Q1 25/26 TU earnings summary

Executive summary

• First-quarter 2025-26 sales reached €31.3 million, a 2.9% decrease compared to the same quarter last year, but in line with objectives.

• Gaming activity grew 10.4% year-over-year, with strong catalogue sales driven by new releases.

• Accessories sales declined 18.8% due to U.S. market weakness and customs duties, partially offset by 22% growth in Europe.

Financial highlights

• Catalogue sales rose 46.4% year-over-year, led by Tour de France 2025™ and Pro Cycling Manager 25™.

• Back catalogue sales remained stable at €14.0 million, matching last year's first quarter.

• Accessories revenue dropped to €10.8 million, mainly from a weaker U.S. market.

• Mobile and audio revenue fell 25.9% year-over-year.

Outlook and guidance

• Strong growth expected in the second quarter, driven by new game releases including Rugby League™ 26 and Robocop: Rogue City - Unfinished Business™.

• Nearly ten new titles planned for release in the second half of the year, supporting continued momentum.

• Accessories business in Europe expected to benefit from positive trends, while U.S. market remains uncertain.

• Fiscal year 2025-26 targets confirmed, with confidence in strong growth due to a robust release schedule and innovation.