Innelec: Revenue Down 10% in Q1, Accessories Show Growth
Innelec reported on August 13, 2026 revenue of €14.4 million for the first quarter of fiscal year 2026-27, compared to €15.9 million a year earlier, representing a 10% decline.
Behind this downturn, the specialist in video game and Pop Culture distribution highlights a restructuring of its business, with growth in accessories and licensed products offsetting a decline in consoles.
Consoles Decline 21.2%, Accessories Up 3%
Quarterly revenue includes net distribution sales after rebates as well as brand royalties. It totaled €14.4 million for the April-June 2026 period, down 10% compared to €15.9 million in the first quarter of the previous fiscal year.
Consoles, representing 36% of revenue, recorded a decline of 21.2%. Innelec notes that this quarter includes an unfavorable comparison base linked to the Switch 2 launch during the same period of the previous fiscal year. Video game sales (8% of revenue) remained stable (+0.1%).
Accessories (31% of revenue) grew by 3%, driven by high-tech products (+11%). Licensed derivative products represent 21% of revenue, declining 4% for the quarter, compared to the first quarter of 2025 which had benefited from the launch of a Disney license (Stitch).
Product Mix Oriented Toward Most Profitable Categories
According to the group, the change in revenue reflects a shift in product mix in favor of the most profitable lines. The growth in accessories and high-tech products is part of the diversification strategy, while the decline in consoles is attributed to a base effect linked to the Switch 2 launch.
During this quarter, two categories with relative growth (accessories and high-tech) partially offset the decline in consoles, which remain the leading revenue category at 36% of the total.
Confirmed Outlook and Expected Margin Improvement
For fiscal year 2026-27, Innelec indicated it will continue its diversification strategy by leveraging trading card games (TCG) and new developments in derivative and high-tech products. The group also cited the launch of GTA 6 in 2026, which it estimates will benefit the entire PlayStation ecosystem.
Innelec clarified that these developments, combined with the cost-saving plan announced at the beginning of the fiscal year, should contribute positively to margin performance. The group confirmed a calendar with a general meeting on September 16, 2026, publication of half-year revenue on November 12, 2026, and half-year results on December 9, 2026.
