Q2 2026 Asmodee Group AB Earnings Call Transcript
Key Points
- Asmodee Group AB (FRA:2EX) reported a strong organic year-on-year sales growth of 23% in the second quarter.
- The company achieved a 30% growth in games published by partners, driven by successful trading card game releases.
- Adjusted EBITDA increased by 11%, supported by higher sales volumes and disciplined cost management.
- The company successfully executed strategic licensing agreements, including a new deal with Hasbro for Magic The Gathering's Marvel's Spider-Man set.
- Asmodee Group AB (FRA:2EX) continued its M&A strategy with the acquisition of Cthulu Death May Die IPs and games, enhancing its portfolio.
- Free cash flow decreased to €-23 million due to working capital effects despite higher EBITDA.
- US sales were slightly impacted by softer consumer sentiment and unfavorable foreign exchange rates.
- The company faced a decline in board game sales in the US market, attributed to delayed consumer purchases and economic uncertainty.
- Inventory levels increased significantly, reflecting a different cash flow pattern and higher volumes, which could pose a risk if not managed effectively.
- The adjusted EBITDA margin decreased by 160 basis points, primarily due to a less favorable sales mix and increased operating expenses.
Welcome to Asmodee Q2 report 2025-2026. (Operator Instructions)
Now, I will hand the conference over to CEO, Thomas Kogeler; and CFO, Andrea Gasparini. Please go ahead.
Good morning and welcome to our Q22526 results presentation. It's great to be back in Stockholm today together with Andrea Gasparini, our CFO. I will start with an overview of some highlights from the second quarter, after which Andrea will walk you through the financials. I'll then return with a few concluding remarks before we open up for questions.
Sales in games published by Asmodis Studios were driven by long selling lines such as Kitan with its 6th edition, Ticket to Ride with a new refresh, Double Spotted, and a notably strong performance from exploding Kitten's product lines.
It was further supported by successful new releases including Lego Brick like this, Exploding Kittens The Board Game, The Lord of the Rings Fellowship of the Ring, and Star Wars Battle of Hoth.
Sales
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