(News Bulletin 247) – Nacon rose on the Paris Stock Exchange on Tuesday after promising a 2023-2024 financial year rich in editorial activity with around twenty games to be published, compared to 13 in the previous financial year.
The video game group specifies that the first half of the financial year will result in particular in the release of the highly anticipated ‘The Lord of the Rings Gollum’, but also of ‘RoboCop: Rogue City’, ‘Cricket24’ and ‘Rugby24’, the official game of the Rugby World Cup which will take place next September.
On the strength of these upcoming releases, Nacon says it is reaffirming its confidence in its strong growth prospects for the 2023-24 financial year.
For its entire 2022-2023 financial year, ending at the end of March, its turnover amounted to 156.4 million euros, an increase of 0.3% despite the delay of several major games.
In terms of results, the company says it anticipates at this stage a current operating result down compared to the previous financial year, the operating result and the net result being on the other hand in progress.
Citing a “low” valuation and the speculative interest of the file, analysts at Invest Securities reiterated their advice to buy the stock this morning, with a price target raised from 3.3 to 3.5 euros.
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