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Turns out the safest bet in toys right now isn't a toy at all. It's a piece of cardboard with a cartoon monster on it. Asmodee just proved that trading cards are quietly the best business in the building, better margins, more heat, more staying power than anything with a board and a rulebook attached. Investors bought in for CATAN. They're staying for the booster packs.
Asmodee shares jumped to a record high after a first-quarter earnings beat that had Pokémon doing most of the heavy lifting.
Net sales rose 20.9% to €422.1 million (about $486.2 million), ahead of expectations near €404 million, with organic growth just over 20%, meaning this wasn't acquisitions doing the work. Trading card games led the way, up 23.1% to €285 million on demand for Pokémon, Magic: The Gathering, Yu-Gi-Oh, One Piece and a run of newer ****** les. Board games grew 16% to €103 million, helped by evergreen franchises like CATAN and Dobble, new releases and expansions, plus a contribution from recently acquired ATM Gaming.
Profitability outran sales. Adjusted EBITDA climbed 55% to €61.9 million from €39.9 million, and the margin expanded to 14.7% from 11.4%. EBIT rose to €40.5 million, and profit attributable to shareholders swung to €17 million from a €1.6 million loss a year earlier. Shares rose as much as 10% on the news.
#trading
Turns out the safest bet in toys right now isn't a toy at all. It's a piece of cardboard with a cartoon monster on it. Asmodee just proved that trading cards are quietly the best business in the building, better margins, more heat, more staying power than anything with a board and a rulebook attached. Investors bought in for CATAN. They're staying for the booster packs.
Asmodee shares jumped to a record high after a first-quarter earnings beat that had Pokémon doing most of the heavy lifting.
Net sales rose 20.9% to €422.1 million (about $486.2 million), ahead of expectations near €404 million, with organic growth just over 20%, meaning this wasn't acquisitions doing the work. Trading card games led the way, up 23.1% to €285 million on demand for Pokémon, Magic: The Gathering, Yu-Gi-Oh, One Piece and a run of newer ****** les. Board games grew 16% to €103 million, helped by evergreen franchises like CATAN and Dobble, new releases and expansions, plus a contribution from recently acquired ATM Gaming.
Profitability outran sales. Adjusted EBITDA climbed 55% to €61.9 million from €39.9 million, and the margin expanded to 14.7% from 11.4%. EBIT rose to €40.5 million, and profit attributable to shareholders swung to €17 million from a €1.6 million loss a year earlier. Shares rose as much as 10% on the news.
#trading
3 months ago
