Core Viewpoint - NACON reported consolidated sales of €124.2 million for the first nine months of the 2025-26 financial year, reflecting a decline of 4.4% compared to the previous year [2][3]. Sales Performance - Sales for the first quarter (April-June) were €31.3 million, down 2.9% from €32.3 million in the previous year [3]. - The second quarter (July-September) saw sales increase to €46.8 million, up 4.5% from €44.8 million [3]. - In the third quarter (October-December), sales dropped to €46.1 million, a decrease of 12.8% from €52.9 million [3]. - Cumulative sales for the first nine months were €124.2 million, compared to €129.9 million in the previous year [3]. Games Segment - Total revenue from "Games" grew by 1.9% to €25.9 million [5]. - "Catalogue" activity, which includes new game releases, experienced significant growth of 39.9%, reaching €13.7 million, driven by continued sales of "Hell is Us" and new launches like "Cricket 26" and "Rennsport" [5]. - The "Back Catalogue" generated €12.2 million, down from €15.6 million, attributed to a high basis of comparison and market decline [6]. Accessories Segment - The "Accessories" segment reported sales of €17.9 million, a decline of 29.1% due to ongoing impacts from increased customs duties in the US market [7]. - The decline in the US market is easing, with a reduction from 66% in the second quarter to 38% in the third quarter [7]. Future Outlook - The last quarter of the financial year is expected to be driven by new "Catalogue" releases, including several major games [8]. - The "Back Catalogue" is anticipated to generate revenue similar to that of the previous financial year [8]. - The "Accessories" segment remains challenged by market visibility issues in the US, while Europe is expected to benefit from upcoming product releases [9]. - NACON has revised its forecasts for the current financial year, expecting activity to be comparable to the previous year due to market slowdowns [10].

Core Insights - BIGBEN INTERACTIVE confirms its annual targets with consolidated half-year results for the 2025-2026 financial year, reporting a slight decrease in sales but improvements in gross margin and operating profitability [1][3][18] Financial Performance - Sales for the first half of 2025-2026 reached €135.4 million, a decrease of 0.3% compared to €135.9 million in the same period of 2024-2025 [2] - Gross margin increased by 5.8% to €73.5 million, with a gross margin rate of 54.3%, up from 51.2% [2][3] - EBITDA rose by 17.5% to €36.5 million, representing 27% of sales, an increase of nearly 4 percentage points [2][4] - Operating income improved by 24.7% to €4.7 million, accounting for 3.5% of sales [2][4] - Net income for the period was €3.7 million, down 16.3% from €4.4 million [2][4] Business Segment Analysis - NACON generated sales of €78.1 million, up 1.4% from €77.0 million, with a gross margin rate of 69.7% [5][8] - BIGBEN – Audio-Video/Telco reported sales of €57.4 million, a decrease of 2.5% from €58.9 million, with a gross margin rate of 33.3% [5][10] Balance Sheet and Debt Management - As of September 30, 2025, BIGBEN had equity of €340.9 million and available cash of €23.8 million, with net debt standing at €183.3 million [12] - The company has secured a refinancing agreement for €43 million to manage bonds exchangeable into Nacon shares maturing in February 2026 [13] Future Outlook - The second half of 2025-2026 is expected to see continued strong performance from NACON, with several game releases planned and a positive outlook for the Accessories business [15][16] - BIGBEN anticipates a more dynamic second half for its Audio-Video business, driven by seasonal sales events [17][18]

Core Insights - NACON reported consolidated half-year results for the 2025-2026 financial year, indicating business growth and expected operating profit for the full year [1][10]. Financial Performance - Sales for the first half of 2025-2026 reached €78.1 million, a 1.4% increase from €77.0 million in the previous year [2]. - Gross margin improved to €54.4 million, representing a 7.4% increase, with a gross margin rate of 69.7% [2][3]. - EBITDA rose by 18.7% to €33.6 million, with an EBITDA margin of 43.1%, up 6.3 points [2][6]. - Operating income increased by 30.4% to €4.2 million, accounting for 5.3% of sales [2][4]. - Profit before tax surged by 80.2% to €1.7 million, with net income for the period at €2.5 million, a 16.2% increase [2][4]. Business Segments - Gaming sales contributed €56.4 million, while the Accessories business generated €19.8 million, and "other activities" accounted for €1.8 million [3]. - The Accessories segment is expected to benefit from the launch of new products, including the RIG R5 PRO HS headset and controllers for the Switch TM 2 [9]. Future Outlook - NACON has 41 games under development, with related assets valued at €128.1 million [7]. - The company anticipates a strong second half of the fiscal year, supported by a robust editorial calendar and expected sales performance in line with the previous fiscal year [8][10]. - Despite challenges in the U.S. market, signs of recovery are noted, and the company remains optimistic about growth prospects [9].