France's NACON full-year sales fall and miss analyst expectations

Nacon SAS

18/05/2026 18:15

Overview

France video game publisher's 2025-26 sales fell and missed analyst expectations

Company undergoing judicial reorganisation, liquidated two subsidiaries and restructuring others

Significant asset impairments to weigh heavily on annual results

Outlook

Nacon expects 2026-2027 Games segment to benefit from several major releases

Company anticipates Accessories business to return to growth in 2026-2027, driven by new products

Nacon expects Back Catalogue sales to grow in 2026-2027 after high volume of releases

Nacon will restructure activities for 2026-2027, including cost reduction, and rationalisation of investments

Result Drivers

CATALOGUE SALES GROWTH - Strong Q4 sales of new games driven by releases including Styx: Blades of Greed and Dragonkin: The Banished

BACK CATALOGUE DECLINE - Back Catalogue sales fell 25.3% in Q4, attributed to a high comparison base in the prior year

ACCESSORIES SALES IMPACTED - Accessories sales declined, with full-year drop mainly due to increased US tariffs

Company press release: ID:nGNE63HC7L

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Sales
Miss
EUR 160.80 mln
EUR 172.07 mln (3 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Nacon SAS is €1.25, about 468.2% above its May 18 closing price of €0.22

The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 15 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)