Nacon reported a half-year net result of €48,000 on Dec 30, 2025, after a €2.5 million litigation provision, on revenue up 1.4% to €78.1 million

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

Nacon, the Euronext Paris-listed games publisher, published its half-year financial report on Dec 30, 2025 through the AMF, France's market regulator. For the first half of its 2025/26 financial year, revenue was €78.1 million against €77.0 million a year earlier, up 1.4%, and the net result was €48,000 against €2,192,000.1^,2^,3^,4^,5^,6

A release the same day said Nacon's auditors had taken a position on an ongoing legal dispute, which required it to restate the half-year accounts it had published on Nov 24 and to record a provision, money set aside for a likely cost, of €2.5 million. It said the restatement also delayed the report. The release said the dispute, more than 15 years old, concerned patents held by Nintendo and related to controllers that Nacon no longer marketed. In the industrial-property dispute behind the provision, the report recorded a first-instance ruling in which the Mannheim regional court ordered Bigben Interactive GmbH, Nacon's distribution subsidiary, to pay €7.1 million in all; Nacon said it contested the ruling and had appealed.7^,8^,9^,10^,11^,12^,13^,14^,15

Accessories revenue fell 31.7% to €19.8 million from €29.1 million, which the report tied to a sharp drop in sales on the American market linked to higher tariffs. Revenue from games released since the start of the financial year rose 51.2% to €28.4 million from €18.8 million, which the report credited to Rugby League 26, the return of Robocop: Rogue City – Unfinished Business and Hell is Us, a launch it ranked among Nacon's biggest, with an 88% user score.16^,17^,18^,19

EBITDA, which Nacon defines as operating result before amortisation and after provisions and earn-out reversals, and treats as a non-IFRS measure (outside the IFRS accounting standards), rose 9.9% to €31.1 million from €28.3 million despite the provision, the report said. The operating result fell 48.1% to €1.7 million from €3.2 million, which the report said was hit by higher amortisation linked to Test Drive Unlimited.20^,21^,22^,23^,24

The notes said the board approved the accounts on a going-concern basis, assuming the company keeps operating, but that there was a significant uncertainty over its ability to do so. The cash projections rested chiefly on a favourable outcome of talks between Nacon's parent, Bigben Interactive SA, and its bondholders. Cash net of bank overdrafts fell to €6.6 million at the end of September from €24.2 million at the end of March; Nacon collected an €8.5 million video game tax credit in early October and signed a €5 million financing contract in December. The report also disclosed a cyberattack that began in November; it said the ongoing investigation had not revealed any data exfiltration at group level.25^,26^,27^,28^,29^,30^,31^,32

Nacon listed Styx: Blades of Greed, Edge of Memories and GreedFall II among its releases for the second half of the financial year.33

Our records hold the 28-page report, in French, and one-page releases in English and French, with pictures and layout left out, and none of the documents they refer to.34^,35^,36^,37^,38^,39^,40