Bigben Interactive : H1 results down (in line). Confirmation of a more dynamic H2 thanks to gaming but already priced in. Neutral vs Outperform
>H1 results down, as expected - Yesterday evening, Bigben published H1 2023-24 results (to end of September) down but close to our expectations. With revenue (already reported) down 5% y-o-y to € 131m, the gross margin improved (+180bp) thanks to Nacon's product mix (growth in the back-catalogue). However, D&A weighed on results (failure of Gollum + H2 line-up preparation) with operating profit that came in at € 4.3m i.e. -4.3 points y-o-y. Net profit was a little b...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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