GlobeNewswire by notified

PRESS RELEASE: BIGBEN: 2021/22 HALF-YEAR RESULTS

Share

Bigben

                                                Press release

         Lesquin, 29 November 2021 18:00 hrs

Unfavourable comparison basis for HY1 2021/22 :

  • Sales: 124,2 M€ (-8,5%)
  • Current Operating Income: 9,9 M€ (-41,6%) i.e. 8,0% of sales
  • Net profit : 6,9 M€ (-28,6%)

Adjustment of 2021/22 targets:

  • Sales between 270 and 300 M€
  • Current Operating Income around 24 M€

Upgraded2022/23targets:

  • Sales between 400 and 450 M€ with a Current Operating Margin (1) >14%

BIGBEN INTERACTIVE (ISIN FR0000074072) today releases its consolidated results for 1st Half Year 2021-22 (from April 1, 2021 to September 30, 2021) as approved by its Board of directors on 29 November 2021.

Consolidated in M€ - IFRS09/202109/2020       Change
Sales124,2135,8-8,5%
Gross margin (1)
In % of Sales



EBITDA (2)
In % of Sales


51,4
41,4%



24,6
19,8%


57,3
42,2%



33,4
24,6%
-10,3%





-26,4%
Current operating income
EBITA
In % of Sales



Non recurrent items

9,9
8,0%





(5,8)
16,9
12,5%





(2,3)


-41,6%





Operating income
In % of Sales

4,1

3,3%
14,7
10,8%
-71,8%
Financial result
incl. Currency gain /(loss)
incl. Gain/(loss) on Bond isssue
4,8
0,1
5,8
(1,2)
(0,7)
-


Earnings before tax
In % of Sales

9,0
7,2%
13,5
9,9%
-33,3%
Tax(2,0)(3,7)
Net result for the period
In % of Sales
6,9
5,6%
9,7
7,2%
-28,6%

ofwhichminorityinterests0,92,2

(1)   COI rate = Current Operating Income as a percentage of sales = Current Operating Margin

(2)   Gross Margin = Sales - Cost of goods sold; other operating revenues posted between Gross Margin and EBITDA

(3)   EBITDA = Current Operating Income before depreciation and amortization of tangible and intangible assets

Performance dampened by a high H1 2020/21 comparison basis

Bigben posted sales of 124.2 M€ in H1 2020/22, down 8.5% on the same period last year. Business in H1 2020/21 had benefited from the exceptional momentum of Nacon Gaming during the first lockdowns and from a denser publishing content.

Gross Margin for H1 2021/22 was 51.4 M€ i.e. 41.4% of sales. The margin rate was only slightly lower than that of H1 2020/21, reflecting a good control of the transport and raw material crisis.

Current Operating Income fell by 41.6% to 9.9M€ resulting in a 8.0% margin. This change was essentially linked to the drop in activity of Nacon Gaming.

After taking into account in particular non recurrent expenses related to bonus share plans, a positive financial result due to the half-yearly revaluation of the IFRS entries for the bond loan, the Net Profit for the period reached 6.9 M€ i.e. 5.6% of sales.

Analysis of achievements by business unit

NACON-GAMINGBIGBEN - AUDIOVIDEO/TELCO
Consolidated in M€ - IFRS09/202109/2020        Change09/202109/2020       Change
Sales73,086,6-15,7%51,249,1+4,1%
Gross Margin(2)38,045,3-16,0%13,412,0+11,4%
In % of Sales52,1%52,3%26,1%24,4%
EBITDA (3)21,430,4-29,7%3,22,9+7,1%
In % of Sales29,3%35,1%6,2%6,0%
Current Operating Income8,415,7-46,3%1,41,2+20,4%
In % of Sales11,6%18,2%2,8%2,4%

Nacon - Gaming reported for HY1 2021-22 73.0 M€ sales down 15.7% when compared to the same period of previous financial year. Sales of Games were 27.3 M€ down 16.9% due to a weaker editorial activity. Back catalogue showed its resilience with 16.2 M€ sales. Sales of Accessories were 43.7 M€, down 15.1% due to a high comparison basis and logistics difficulties in North America.

Margin for HY1 2021-22 reached 38.0 M€ i.e. 52.1% of sales. Despite the strong rise in transportation and raw material costs, the margin rate remains virtually unchanged from HY1 2020/21. The weakness of editorial activity for Games and plummeting Accessory sales posted in this first half resulted in a drop of Current Operating Income to 8.4 M€ i.e. 11.6 % of sales.

Bigben - AudioVideo/Telco reported growth in business driven in particular by the sales of the Force, Just Green® and Bigben Party® ranges. In line with the improvement of the product mix, the gross margin rate improved by 1.7 points compared with HY1 2020/21. The AudioVideo/Telco division notably accelerated the development of short "Made in France and Europe" channels from industrial sites in the Hauts-de-France region and Romania, which allow shorter supply times. After taking in account operating expenses coming to a more “normative” level after the lockdown period, Current Operating Income reached 1.4 M€ i.e 2.8% of sales.

Continued strong balance sheet with particularly low level of debt

At 30 September 2021, Bigben's balance sheet structure remained solid with shareholders' funds amounting to    303.6 M€. Net debt, taking into account 135.5 M€ gross debt (4) and 132 M€ cash, amounts to 3.4 M€ (1.1% gearing).

Anticipated orders in order to secure end of the year sales generated a rise in inventories with an unfavourable impact on changes in Working Capital Needs (4.2M€). Operating cash-flow amounted to 20.2 M€. Cash-flow from investments (mainly acquisition of development studios and cost of games developments) amounted to 46.0 M€.

(4) excluding IFRS 16 rental liabilities and including the February 2021 bond issue

Outlook

NACON GAMING

In order to optimize future revenue, Nacon has decided to postpone the release of the games Vampire : The Masquerade®– Swansong, Blood Bowl 3®, Train Life and Hotel Life to fiscal year 2022/23. This additional development time will help improving their quality and thus their commercial performance. Nacon therefore no longer anticipates the expected improvement in its business in the second half of FY 2021-22 (5).

The second half will benefit of the releases of Cricket 2022 (1.5 billion followers worldwide) and Roguebook games’ versions for consoles (PlayStation™ et Xbox®). In addition, it will see the launch of the Revolution X Pro controller for Xbox®.

BIGBEN AUDIOVIDEO/TELCO

Business will be boosted by :

  • additional sales from Metronic, a recently acquired subsidiary,
  • growth opportunities arising from the accelerated deployment of 5G smartphones and the rapid penetration of new USB-C and Power Delivery charging technologies.

However, given the implications of the above-mentioned postponement of 4 games which has prompted Nacon to revise its targets (5), Bigben is adjusting its FY 2021/22 targets, with sales now in a 270 M€ to 300 M€ range and a Current Operating Income around 24 M€.

On the other hand, the Group expects a stronger rebound in its performance for the next financial year 2022/23 due to a very sustained editorial activity by Nacon Gaming (releases of more than 15 games during the financial year) (5). The "Bigben AudioVideo / Telco" division will also benefit from the good trend in the 5G smartphone market and the expected full-year synergies from the Metronic acquisition. As a result, Bigben is revising its 2022/23 financial targets upwards, with sales now between 400 and 450 M€ and a Current Operating Income ratio (1) of over 14%.

FY 2023/24 will also benefit from the momentum triggered by the release of Nacon Gaming games with again more than 15 games expected, as well as from a strong growth in its back catalogue.

(5) Nacon press release dated 29 November 2021

Proposed exceptional distribution in kind in the form of Nacon shares

Bigben Interactive's Board of Directors is reviewing the project of an exceptional distribution in kind in the form of Nacon shares which could take place during the first quarter of 2022. A general meeting of shareholders will be convened in the coming weeks to approve, among other things, this exceptional distribution in kind of one (1) Nacon share for every five (5) Bigben Interactive shares held by shareholders. 4.54% of Nacon's share capital could thus be distributed to Bigben Interactive shareholders.

Bigben Interactive will issue a press release specifying the final terms of this exceptional distribution in kind when the general meeting of shareholders is convened to approve this transaction.

Next publication:

Q3 2021/22Sales :24 January 2022,
Press release after close of the Paris Stock Exchange



ABOUT BIGBEN INTERACTIVE



SALES 2020-21
292.8 M€







HEADCOUNT
Over. 1060 employees



INTERNATIONAL
28 subsidiaries and a distribution network in 100 countries
www.bigben-group.com


Bigben Interactive is a European player in video game development and publishing, in design and distribution of smartphone and gaming accessories as well as in audio products. The Group, which is recognized for its capacities in terms of innovation and creativity, intends to become one of Europe’s leaders in each of its markets



Company listed on Euronext Paris, compartment B – Index : CAC Mid & Small – Eligible SRD long
ISN : FR0000074072 ; Reuters : BIGPA ; Bloomberg : BIGFP



PRESS CONTACTS



CapValue – Gilles Broquelet gbroquelet@capvalue.fr - +33 1 80 81 50 01 

Attachment

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Aino Health AB (publ): Norberg & Partner Sustainable Group AB (publ) tecknar aktier i Aino Health AB (publ).25.1.2022 19:45:00 CET | Pressemelding

Detta pressmeddelande utgör inte ett offentligt uppköpserbjudande eller annars ett erbjudande om att förvärva aktier. Norberg & Partner Sustainable Group AB (publ)tecknar aktier i Aino Health AB (publ) och utlöser därmed budplikt. Norberg & Partner Sustainable Group AB (publ), org.nr 559268-0663 (”Norberg & Partner”) har idag tecknat 15 384 616 aktier i Aino Health AB (publ), org.nr 559063-5073 (”Aino Health”) till ett pris om 0,65 kronor per aktie. Efter förvärvet äger Norberg & Partner cirka 36,38 procent av aktierna och rösterna i Aino Health. Genom förvärvet utlöses budplikt, vilket innebär att Norberg & Partner är skyldig att offentliggöra ett budpliktsbud avseende resterande aktier i Aino Health inom fyra veckor från förvärvet, alternativt avyttra så många aktier så att aktieinnehavet representerar mindre än tre tiondelar av röstetalet för samtliga aktier i Aino Health. För ytterligare information, se Norberg & Partners hemsida. www.norbergpartner.se/ Kontaktperson: Jyrki Eklund,

Sword Group: 2021 Fourth Quarterly Results | Exceptional Profitability25.1.2022 19:15:00 CET | Press release

2021 Fourth Quarterly Results Consolidated Revenue: €59.7m Consolidated Growth: +31.8% Organic Growth: +21.9% EBITDA Margin: 15.0% RESULTS 4TH QUARTER 2021 Q4 (1) €m 2021 2020 Revenue 59.7 45.3 EBITDA 9.0 7.6 EBITDA Margin 15.0% 13.0% (1) non audited figures Organic growth on a like-for-like basis and at constant exchange rates: +21.9%. YEAR 2021 Consolidated Revenue: €214.6m Organic Growth: +21.5% EBITDA Margin: 13.6% ANALYSIS The Revenue for the Fourth Quarter of 2021 amounts to €59.7m in consolidated terms and to €55.2m without taking into account the acquisition of AiM, added to the perimeter on 1 July 2021. The EBITDA margin for the quarter amounts to 15.0% and organic growth to +21.9%. For 2021, the consolidated revenue amounts to €214.6m with an EBITDA margin of 13.6%. Organic growth for the year amounts to +21.5%. The Group established its 2021 Business Plan based on an organic growth hypothesis of 13%. Sword outperformed in terms of growth while maintaining and even exceeding

Aino Health AB (publ): The board of Aino Health resolves on a directed issue of shares to Norberg & Partner Sustainable Group AB (publ).25.1.2022 19:00:00 CET | Press release

This document in English is a translation of the original in Swedish. In case of any discrepancy, the Swedish original will prevail. The board of Aino Health AB (publ), reg. number 559063-5073 (the “Company”) has today, based on the authorisationfrom the annual general meeting on 24th of May 2021, resolved on a directed issue of 15 384 616 shares with deviation from the shareholders’ pre-emption right.The issue is directed to Norberg & Partner Sustainable Group AB (publ) (”Norberg & Partner”) in order to secure the Company’s long-term financing in a time-and cost-efficient manner and entails an estimated capital injection of approximately SEK 10 million. The subscription price was, after negotiations with the subscriber, determined to SEK 0.65 per new share, which corresponds to the market value as assessed by the board. The reason for the deviation from the shareholders’ pre-emptive right is to secure the Company’s long-term financing in a time- and cost-efficient manner. The new shar

Aino Health AB (publ): Styrelsen i Aino Health AB (publ) beslutar om en riktad nyemission till Norberg & Partner Sustainable Group AB (publ).25.1.2022 19:00:00 CET | Pressemelding

Styrelsen i Aino Health AB (publ), org.nr 559063-5073 (”Bolaget”) har, med stöd av bemyndigandet från årsstämman den 24 maj 2021, idag beslutat att genomföra en riktad nyemission av 15 384616 aktier med avvikelse från aktieägarnas företrädesrätt. Nyemissionen är riktad till Norberg & Partner Sustainable Group AB (publ) (”Norberg & Partner”) i syfte att säkra Bolagets långsiktiga finansiering och medför ett förväntat kapitaltillskott om ca 10 miljoner kronor. Teckningskursen har efter förhandling med teckningsberättigade fastställts till 0,65 kronor per aktie, vilket motsvarar av styrelsen bedömt marknadsvärde. Skälet till avvikelsen från aktieägarnas företrädesrätt är att emissionslikviden ska användas i syfte att på ett snabbt och kostnadseffektivt sätt stärka Bolagets långsiktiga finansiering. Betalning för de nyemitterade aktierna sker genom kontant betalning. Antalet aktier i Bolaget ökar med 15 384 616 aktier, från 26 901 155 aktier till 42 285 771 aktier. Aktiekapitalet i Bolaget

EXTRAORDINARY GENERAL MEETING APPROVES INCREASE OF CONDITIONAL CAPITAL AND SIKA PROPOSES ELECTION OF GORDANA LANDEN TO THE BOARD OF DIRECTORS25.1.2022 18:00:00 CET | Press release

EXTRAORDINARY GENERAL MEETING APPROVES INCREASE OF CONDITIONAL CAPITAL AND SIKA PROPOSES ELECTION OF GORDANA LANDEN TO THE BOARD OF DIRECTORS At an Extraordinary General Meeting, Sika’s shareholders approved the increase of conditional capital. Sika recommends the election of Gordana Landento the Board of Directors at the next Annual General Meeting, to be held on April 12, 2022. On January 25, 2022, an Extraordinary General Meeting of Sika AG was held. Based on Ordinance 3 of the Federal Council on measures to prevent the spread of COVID-19, it was not possible for shareholders to physically attend the Extraordinary General Meeting. Instead, shareholders cast their votes through the independent proxy. The shareholders approved an increase to the existing conditional capital from CHF 155,893.20 (corresponding to 15,589,320 registered shares with a par value of CHF 0.01 each) to CHF 187,893.20 (corresponding to 18,789,320 registered shares with a par value of CHF 0.01 each). Shareholder

FutureDial Automation Solutions Process Over 231 Million Preowned Mobile Phones Worldwide25.1.2022 14:30:00 CET | Press release

Growing adoption of FutureDial’s robotics and automation software by Wireless Carriers, Third-Party Logistics Providers (3PLs) and Mobile Device Recyclers led to explosive volumes of preowned iPhones and Android Smartphones being processed for resale in 2021 SUNNYVALE, Calif., Jan. 25, 2022 (GLOBE NEWSWIRE) -- FutureDial Incorporated continued its commanding lead in providing mobile device processing solutions for Wireless Carriers, Mobile Device Buy-Back & Trade-In Companies, Mobile Phone Recyclers and Third-Party Logistics Providers (3PLs) during the year, announcing that its robotics and automation software solutions have been used by customers in the mobile supply chain to data clear, functionally test and grade a cumulative total of over 231.4 Million pre-owned Android smartphones and iPhones worldwide, for resale on secondary markets. Additionally, the total number of functional tests using FutureDial software and robotics for quality assurance performed on preowned iPhones and A

HMNC Brain Health Expands International Patent Portfolio with Two Stress-axis Related Substances for Major Depressive Disorder25.1.2022 14:30:00 CET | Press release

In-Licensing arrangement with the renowned Max Planck Society, extends patent protection for clinical research and strengthens Nelivabon and Cortibon developmental projects The Company has also established an office in the United States, furthering global expansion strategy MUNICH, Germany, Jan. 25, 2022 (GLOBE NEWSWIRE) -- HMNC Brain Health, (“HMNC” or the “company”), a clinical stage biopharmaceutical company pioneering the development of personalized therapies in psychiatry, announced that it has expanded its international patent portfolio in the field of psychiatric therapy with two patent families claiming substances for treating stress-axis related Major Depressive Disorder. These license agreements are part of a broader collaboration with the renowned Max-Planck-Society, comprising biomarker patent claims and therapeutic patent claims covering markets in Europe, the U.S., and now Asia, in particular Japan. Utilizing a more personalized approach to discovering new drugs in psychi