NACON Reports 9.3% Sales Decline in First Quarter
NACON's sales fell 9.3% to €38.5 million in the first quarter of the 2023/24 financial year (April-June 2023). Gaming revenue remained stable, while accessories sales saw a significant drop.
NACON, a video game publisher and distributor, announced its sales for the first quarter of the 2023/24 financial year, ending June 30, 2023. Total sales amounted to €38.5 million, representing a 9.3% decrease compared to the same period last year.
The gaming segment reported stable revenue of €27.4 million. Sales from new releases increased by 4.5% to €15.6 million, with titles like Tour de France and TT Isle of Man Ride on the Edge 3 outperforming their predecessors. However, sales from the back catalogue decreased by 6.8% to €11.8 million.
Revenue from the accessories business experienced a substantial decline of 25.5%, reaching €10.4 million. Despite this downturn, NACON reiterated its full-year 2023/24 guidance, anticipating a busy year with approximately 20 new game releases planned.
Looking ahead, the company expects the accessories business to recover starting in the third quarter, supported by new console generation growth and upcoming product launches. NACON expressed confidence in achieving strong growth in sales and operating income for the full fiscal year.