Bigben Interactive : Year-end penalised by COVID-19 – Long-term targets maintained – Buy reiterated and target price adjusted to € 18
>Q4 sales down 13.8% to € 51.1m (vs € 55.6m est.) - Yesterday evening, Bigben Interactive reported a 13.8% contraction in its Q4 sales (January-March) to € 51.1m, lower than our estimate of € 55.6m (-6%e). Business was marked by a sharp decline at the mobile division (-22.3%) and a lesser decrease for gaming (-9%) which suffered a highly unfavourable comparison base for gaming accessories (-53%), despite very strong resilience from publishing (+84%). The audio divisio...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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