GlobeNewswire by notified

PRESS RELEASE: BIGBEN: Half year results 2020/21

Share

Bigben                                                                                 Press release

         Lesquin, 30 November 2020 18:00

Half year results   2020/21:

·Current Operating Income: 16.9 M€ (+26.4%) i.e. 12.5% of sales

·Net result: 9.7 M€ (+16.7%)

Rise of target for FY 2020/21 Current Operating Income rate: > 12%

BIGBEN INTERACTIVE (ISIN FR0000074072) today releases its consolidated results for the first half of fiscal year 2020/21 (from April 1 to September 30) as approved by its Board of directors on 30 November 2020.

Consolidated in M€ - IFRS09/202009/2019      Change
Sales135.8127.0+6.9%
Gross margin (1)

In % of Sales



EBITDA (2)

In % of Sales


57.3
42.3%



33.4
24.6%


54.9
43.2%



27.7
21.8%
+4.4%





+20.5%


Current operating income

In % of Sales



Non recurrent items
16.9
12.5%



(2.3)
13.4
10.5%



(1.5)


+26.4%





Operating result

In % of Sales
14.7
10.8%
11.9
9.4%
+23.2%
Financial result

Including currency gain (loss)
(1.2)
(0.7)
(1.0)
(0.3)


Earnings before tax

In % of Sales
13.5
9.9%
10.9
8.6%
+23.0%
Tax(3.7)(2.6)
Net result for the period

In % of Sales
9.7
7.2%
8.3
6.6%
             +16.7%

Of which Minority shareholders 2.20

(1)       Gross Margin = Sales - Cost of goods sold; other Operating revenues are posted between Gross Margin and EBITDA
(2)       EBITDA =  Current Operating Income before depreciation and amortization of tangible and intangible assets

Sharp increase in current operating income

Bigben's results have risen significantly thanks to a tight management and an ability to adapt to an unstable economic environment.

The thriving Nacon Gaming business, the significant drop in external expenses and the contained increase in personnel costs enabled the Group to see its EBITDA increase by 20.5% representing 24.6% of sales.

Current Operating Income (COI) stood at 12.5% of sales, a sharp increase compared with the target announced for the full year 2020/21 of "Current Operating Income rate in excess of 10%".

Non-recurring expenses relating to bonus share plans amounted to 2.3 M€.

Net Result for the period was up 16.7% to 9.7 M€, reaching its highest level for the last ten years.

Analysis of performance per business unit

NACON-GAMINGBIGBEN - AUDIO/TELCO
Consolidated in M€ - IFRS09/2020 09/2019 (3)       Change09/202009/2019 (3)       Change
Sales86.663.7+35.9%49.263.3-22.4%
Gross Margin (1)45.339.2+15.5%12.015.7-23.4%
In % of sales52.3%61.5%24.4%24.7%
EBITDA (2)30.423.5+29.2%2.94.2-29.0%
In % of sales35.1%37.0%6.0%6.6%
Current Operating Income15.710.7+47.4%1.22.7-55.8%
In % of sales18.2%16.8%2.4%4.3%

(3)        The partial asset  contribution of  the Gaming business to Nacon by Bigben Interactive was carried out with an accounting effect as of October 1, 2019. Assets and liabilities contributed were recognized at their carrying amount. In order to ensure the comparability of financial statements, comparative data is taken from the "combined financial statements", which take into account financial flows as well as income statement and balance sheet items related to the Gaming business prepared from the accounting books of Bigben Interactive and its Gaming subsidiaries. These financial flows include acquisitions of studios from the date of acquisition.

Nacon - Gaming saw strong business growth driven by the success of RIG headsets, official PlayStation®4 controllers and a growing contribution from digital back catalogue sales. This performance contributed to an improvement in operating profitability with an increase in EBITDA and Current Operating Profit.

At the same time, Bigben - Audio/Telco, after sales strongly impacted by the lockdown in the first quarter (-38.7%), recovered in the second quarter (-9.4%) thanks to a rebound in Audio and a gradual recovery in Mobile accessories. Sales for the first half of the year therefore registered a limited decline of 22.4%, while gross margin and EBITDA remained virtually stable thanks to successful Group's premium-brand products and operating expenses under control. Current operating income was positive, representing 2.4% of turnover despite the contraction in sales.

Robust balance sheet structure

At 30 September 2020, Bigben showed a robust balance sheet structure, with shareholders' equity up 4.0% to 293.7 M€ (compared with 282.4 M€ at 31 March 2020) and 131 M€ cash.

Outlook

In a context of strong constraints for the retail sector, Bigben is confident in achieving its forecasts for the second half of the financial year, given that:

- the second, less restrictive lockdown in Bigben Audio/Telco sales channels, preceded in Q2 2020/21 by the first signs of recovery,
- the momentum of Nacon Gaming should continue and generate a strong positive contribution.

Annual targets 2020/21 raised

The Bigben Group's good results in the first half of the year and the increase in Nacon Gaming's sales target (4) enable the Bigben Group to:
      ·confirm a 2020/2021 annual sales target ranging from 270 M€ to 290 M€ (vs. 263.5 M€ at 31 March 2020).
and
      ·raise its Current Operating Margin (5) target from "over 10%" to “over 12%” (vs. 9.0% at 31 March 2020).

The Bigben Group also reiterates its financial targets for FY 2022/23 with sales of 350 M€ and a COI (5) rate of 13%.

(4) Nacon press release of November 30, 2020.
(5) COI rate = Current Operating Income as a percentage of sales = Current Operating Margin

Convening of a Shareholders’ Meeting

The shareholders of Bigben Interactive SA have been convened to an Ordinary General Meeting on December 11, 2020 at 15:00 hrs. The Meeting will be held behind closed doors, in accordance with current health regulations. The purpose of this Meeting is, in accordance with the Company's Articles of Association, to authorise the Board of Directors to issue bonds, on one or more occasions, at such times and under such conditions as it deems appropriate, for a maximum nominal amount of 100 M€. The Board would have the power to decide whether all or part of the bonds could be exchanged for existing shares of a subsidiary of Bigben Interactive SA.

Next publication:

Ordinary General Meeting: 11 December 2020, 15:00 hrs

Q3 2020/21 sales: 25 January 2021
Press release after close of the Paris stock exchange



ABOUT BIGBEN INTERACTIVE



SALES 2019-2020
263.5 M€







HEADCOUNT
Ca. 750 employees



INTERNATIONAL
22 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

Prime Office årsregnskab 202319.3.2024 10:00:00 CET | pressemeddelelse

Selskabsmeddelelse 199/2024 19. marts 2024 PRIME OFFICE A/S: TILFREDSSTILLENDE RESULTAT I EN OMSKIFTELIG VERDEN Økonomisk rapportering pr. 31.12.2023 Resultat af primær drift på 120,7 mio. DKK mod 114,0 i 2022.Resultat før skat på 114,3 mio. DKK mod 166,2 mio. i 2022. VÆKST I BOLIGSEGMENTET – K/S Danske Immobilien Huslejer stiger med 8,5% efter alle koncernens boligejendomme samles i K/S Danske Immobilien, og 4% i stigning uden intern handel. Omsætning/huslejer andrager 111,3 mio. DKK i 2023 mod 102,6 mio. DKK i 2022Udlejningsprocent på 98,5%Investeringer og vedligeholdelse over budget VÆKST I KONTORSEGMENTET - PO KONTORSELSKABER Huslejer stiger med 6,4% Omsætning/huslejer andrager 48,0 mio. DKK i 2023 mod 45,1 mio. DKK i 2022Udlejningsprocent på 99,5% FALD I ERHVERVSSEGMENTET – MC PROPERTY FUND HAMBURG Huslejer falder med 7% efter internt frasalg af boliger til K/S Danske Immobilien Omsætning efter frasalg af ejendomme 38,0 i 2023 40,9 mio. DKK i 2022.Udlejningsprocent på 97,6%. STIGE

Leading in health technology innovation: Philips one of the top patent applicants at European Patent Office19.3.2024 10:00:00 CET | Press release

March 19, 2024 Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, today announced that it is one of the leading patent applicants at the European Patent Office (EPO). Building on more than 130 years of innovation, Philips’ extensive global R&D programs and collaborations position the company at the forefront of health technology innovation. In 2023, Philips improved the health and well-being of 1.9 billion people with its innovations. With 607 MedTech patent applications in 2023, Philips is the second largest applicant in EPO's Patent Index 2023 in the field of medical technology. In total, Philips contributed 1,299 patent applications across various domains, solidifying its standing among the top 10 patent filers overall. Roy Jakobs, CEO of Royal Philips, said "At Philips, our purpose is to improve people’s health and well-being through meaningful innovation. As such, we see huge opportunities to make a difference through innovatio

Annual report 202319.3.2024 09:56:49 CET | Press release

To Nasdaq OMX Copenhagen A/S Public announcement no. 553 March 19th, 2024 ANNUAL REPORT FOR GLUNZ & JENSEN HOLDING A/S FOR THE FISCAL YEAR 2023 The annual report for the fiscal year 2023 was reviewed and approved at the Board of Directors meeting today. The Board of Directors announces the following consolidated financial statements for 2023 set for approval at the Annual General Meeting on April 10th, 2024. Please observe that the 2023 figures cover a 12-month period, whereas the 2022 figures cover a 9-month period. The annual report 2023 has the following key figures: The Group realized a revenue of DKK 143,3 million (2022: DKK 103,4 million). Gross profit totalled DKK 31,9 million (2022: DKK 27,5 million), equal to a gross profit margin of 22,2% (2022: 26,6%). EBITDA was DKK 10,8 million (2022: DKK 18,2 million). Profit before tax for the year totalled DKK 3,5 million (2022: DKK 15,3 million). The result is in line with the guidance to the market. The financial statements for 2023 a

CONDITIONS FOR SALE OF RIKSBANK CERTIFICATES19.3.2024 09:30:00 CET | Press release

Bid date, 2024-03-19Auction date2024-03-19Settlement date2024-03-20Maturity Date2024-03-27Nominal amount956 billion SEKInterest rate4.00 %Bid times09.30-10.00 (CET/CEST) on the Bid dateBids are made to phone number08-696 69 70Confirmation of bids to e-mailrbcert@riksbank.seThe lowest accepted bid volume1 million SEKThe highest accepted bid volume956 billion SEKAllocation Time10.15 (CET/CEST) on the Bid dateProjected minimum liquidity surplus during the term956 billion SEKExpected excess liquidity at full allotment0 billion SEK Stockholm, 2024-03-19

HiddenA line styled icon from Orion Icon Library.Eye