Guillemot (GUI) H2 2025 earnings summary

Executive summary

• Revenue grew 2% year-over-year to €127.2M, with Thrustmaster and Hercules brands both contributing to growth; Q4 revenue rose 15%.

• Operating profit was €0.5M, but net consolidated result was a loss of €2.4M, impacted by financial asset revaluation, FX losses, and U.S. tariff disruptions.

• Gross profit margin declined by 3 percentage points to 50% year-over-year.

• Strategic focus included R&D investment, production diversification, and commercial expansion in China and the US.

• U.S. market disruption from higher import tariffs impacted margins and deferred €3.5M in turnover to 2026.

Financial highlights

• FY 2025 revenue: €127.2M (+2% year-over-year); Thrustmaster turnover up 1% to €114.2M; Hercules up 8% to €13.0M.

• Operating profit: €0.5M; net consolidated result: -€2.4M.

• Gross profit margin: 50%, down 3 percentage points year-over-year.

• Financial result: -€3.3M, including €3.0M revaluation loss on financial assets.

• Cash and cash equivalents at year-end: €23.8M, down from €30.6M.

Outlook and guidance

• Targeting 5% turnover growth in 2026; net operating income targeted at 5% of turnover.

• Focus on margin improvement, inventory optimization projected to generate over €10M in cash, and leveraging new product launches.