- Asmodee closed a banner financial year with Q4 net sales hitting €407.1 million and full-year sales surging to €1.68 billion, a 23% increase year-on-year, driven by the continued strong performance of Trading Card Games in Europe
- A notable shift toward third-party publishing defined both the quarter and the full year, with games published by partners increasing by 40% annually, even as Asmodee studios’ own products saw a 5.8% decline over the same period
- Strategic acquisitions and new ventures marked the quarter, with Asmodee completing the acquisition of social games specialist ATM Gaming, launching Japan-focused Nekuma Studio, and securing the remaining stake in Exploding Kittens, all signals of a company investing confidently in its future
Asmodee has closed the book on a banner financial year, ending on March 31, 2026. The company saw surging financial performance, with net sales hitting €407.1 million for the fourth quarter of the financial year.
TCGs Power Record Quarter for Asmodee
A notable shift in the last quarter was a shift toward third-party publishing, with games published by partners increasing by 31.6% and the asmodee studios own products published decreasing by 9.8%.
Results were even stronger for the full year, with sales hitting €1.68 billion, an increase of 23% and marking a 40% increase in game publishing by partners, with the annual decrease for asmodee studios games at 5.8%.
Profit/loss for the full year amounted to €27.7 million, equating to basic earnings per share of €0.12. Asmodee chief executive officer Thomas Koegler commented on the quarterly sales, buoyant on the strong results and margin expansion recorded by the company over the full year.
Koegler attributed the strong sales in Q4 to the continued strong performance of Trading Card Games (TCG) in Europe. Sales of games published by partners were also driven by TCG releases, including Mega-Evolution Ascended Heroes and Perfect Order, the latest Pokémon Trading Card Game expansion building on the franchise’s 30th anniversary.
Asmodee Doubles Down on Social Games and Japan Expansion
Bandai’s One Piece TCG was also featured in Koegler’s response, as was Riftbound, the TCG based on the League of Legends universe, and Magic: The Gathering – Lowryn Eclipsed.
Board game sales continued to grow in every region, with Koegler remarking that social games have done particularly well, while Star Wars: Unlimited took a hit in sales, but was still supported by loyal fanbases that continued to buy into the TCG.
Asmodee made a strategic acquisition to strengthen its expertise in social games, which is now considered the fastest-growing category in the board games market, with the company executing the acquisition of ATM Gaming during the quarter.
Asmodee also launched Nekuma Studio, a dedicated effort to see the company’s presence expanded in the Japanese market, and secured the remaining 45% minority stake in Exploding Kittens, buying the rest of the company for €151 million.
However, Koegler is a pragmatist, arguing that the company could pull the trigger on difficult decisions if it had to, and reminding investors and analysts that asmodee was focused on the evolving geopolitical and macroeconomic environment, including rising transportation and energy costs.
Manufacturing Strategy Cushions Geopolitical Pressures
The TCG-driven growth story, however, comes with its own set of logistical considerations, ones that Koegler was keen to address head-on.
Asmodee has tried to offset some of those issues by acting strategically and presciently, building strong manufacturing hubs for TCG games specifically closer to the markets the company targets, although Koegler has acknowledged the limitations thereof.
Koegler noted: “In terms of the cost impact. First of all, our mix is currently very favourable because trading card games are manufactured very close to where they are sold, like in Europe for European countries mainly – some are manufactured in Asia, but it’s a limited one – in the US for the US, etc.”
“Times like these highlight the enduring importance of connection, community, and shared experiences. These values sit at the heart of tabletop gaming and continue to guide asmodee’s teams and leadership in supporting our players and partners,” the executive added, finishing his statement on a hopeful note.