Bigben Interactive : Disappointing Q2 - top-line guidance revised down but current operating margin target of >8% maintained - Buy reiterated and TP cut to € 13.5
>Q2 sales down 8.9% at € 57.3m (vs 65.5 M€e) - Bigben Interactive yesterday evening reported a disappointing set of Q2 sales figures which fell short of our expectations, with a decline of 8.9% to € 57.3m whereas we had expected +4.1%e at € 65.5me. Gaming (+6.3% vs +34.4%e) only partially offset the fall in the mobile segment (-14.9% vs -15%e) and in audio (-26.9% vs -5%e). The quarter was also affected by very difficult comps (+34.2% in Q2 2017/18). Excluding scope e...Bigben Interactive is engaged in designing and distributing accessories for video game consoles for the European markets (France, Germany, Belgium, Luxemburg, the Netherlands). Co.'s activities can be divided into four categories: design and distribution of accessories for video game consoles (controllers, steering wheels, memory cards, pistols); exclusive distribution of video game software; non exclusive distribution of video game consoles and software; publication and distribution of promotional products (USB keys, watches, electronic gifts, audio gifts).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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