Focus Home Interactive SA : A disappointing Q1, marked by base effects - Full-year guidance pushed back by one year - Outperform maintained and target price cut to € 73
>Q1 sales down 36% to € 41.2m (vs € 65.7m est.) - Yesterday, Focus Home Interactive published Q1 2021-22 (April-June) sales down 36% to € 41.2m, i.e. well below our forecast (+2.3%e to € 65.7m). This poor performance was primarily due to a very unfavourable comparison base, which we had underestimated over the quarter, particularly on the catalogue (see below). As a reminder, Q1 2019-20 represented a record performance for the group (+51% to € 64.3m) buoyed by the pos...Focus Home Interactive SA is France-based company principally engaged in the video games industry. The Company publishes interactive video games. The Company produces the catalogue, Focus, which publishes and distributes original titles, such as Blood Bowl, the strategy games Wargames, Sherlock Holmes, TrackMania, Runaway, Cities XL, Cycling Manager and Farming Simulator, among others. The Company has also games under development, such as The Technomancer, Act of Aggression, Vampyr, Call of Cthulhu, as well as several games based on Games Workshop Warhammer and Warhammer licenses: Blood Bowl 2, Space Hulk, Mordheim, and Battlefleet Gothic. The Company operates in France and overseas.
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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