Press release
29th May 2017, 18:00
Annual Results 2016/2017
Result from current operations: + 51.0% up to 11.0 M€, i.e. 5.3% of sales
Net profit: +129.5% up to 9.0 M€, i.e. 4,3% of sales
Outlook: Rise of result from current operations to over 7%
: Sales expected to grow between 230 and 240 m€
« The significant growth of our results in line with our targets validates the relevance of our "Horizon 2018" Plan. This momentum which should accelerate in the coming years with the launch of numerous innovations across all our Gaming, Mobile and Audio markets, leads us to launch a new « BIGBEN 2020 » development plan aimed at achieving sales in excess of 280 M€ and a result from current operations representing 9 % of sales in 2020. » states Alain Falc, CEO of Bigben.
BIGBEN INTERACTIVE (ISIN FR0000074072) today releases its audited consolidated results for the financial year closing on 31 March 2017 as approved by its Board of directors on 29 May 2017.
| Consolidated highlights in €m (IFRS) | 2016/2017 | 2015/2016 | Change |
| Sales | 208.1 | 202.2 | +2.9% |
| EBITDA In % of sales | 20.6 9.9% | 16.4 8.1% | +25.4% |
| Result from current operations In % of sales | 11.0 5.3% | 7.3 3.6% | +51.3% |
| Operating result In % of sales | 10.6 5.1% | 7,3 3,6 % | +45.0% |
| Financial result Of which currency gain (loss) | 1.6 2.6 | (1.7) (0.4) | |
| Earnings before tax In % of sales | 12.2 5.8% | 5.6 2.8 % | +116.3% |
| Tax | (3.0) | (1.5) | |
| Result from continuing activities In % of sales | 9.2 4.4% | 4.1 2.0% | +121.3% |
| Income from equity acctd' investments | (0.2) | (0.2) | |
| Net profit In % of sales | 9.0 4.3% | 3.9 1.9% | + 129.5% |
Another year of growth
Bigben Interactive achieved for its 2016/2017 financial year (ended 31 March 2017) sales of 208.1 €m up 2.9%, in line with targets set by the Group. This growth was supported by both the Gaming ( REVOLUTION Pro Controller under PlayStation®4 license from SONY ) and the Mobile segments ( Force Glass TM protection screens and accessories for iPhone 7 and Samsung® Galaxy S7-S8 smartphones ).
Significant growth of operating result
The Bigben Group showed a significant improvement of its profitability in FY 2016/2017, mainly supported by the increasing contribution of video game Publishing and of house branded products as well as by the ongoing strict management of operating expenses. Therefore EBITDA amounted to 9.9 % of sales against 8.1 % in previous FY and Result from current operations 5.3 % of sales against 3.6%.
Strong growth of Net Profit
The financial result clearly improved over the year thanks to an adequate cover of the US currency risk. After recognition of this result together with corporate tax and a (0.2) €m impact from equity accounted investments, the net result for the period was a profit of 9.0 M€ against 3.9 M€ in previous FY i.e. a 0.50€ earning per share.
Significant reduction of financial debt
Improving operations and an optimized stock management (inventories down by 3.0 M€) contributed to reduce Group financial debt by 14 M€. At the same time, the strong growth of profitability over the financial year combined with a share capital increase of 7.3 M€ from the exercise of BSA share warrants saw shareholders' funds rise from 109.0 M€ to 126.0 M€. The financial debt rate consequently dropped from 25.0% to 10.5%.
Outlook: a new horizon - « BIGBEN 2020 »
For its 2017/18 financial year, the Group outlines its targets already announced in the Horizon 2018 Plan with:
- sales now ranging from 230 to 240 M€ i.e. a 10 to 15 % growth,
- a result from current operations over 7% of sales.
The growth will be supported by:
- the Gaming segment with the release of new major software titles ( Hunting Simulator , Outcast , WRC7 , TT Isle of Man , Rugby 18 , Tennis World Tour, as well as 3 or 4 other games not yet announced) and the enhancement of product ranges around the REVOLUTION controller and accessories for the Nintendo SWITCH TM format.
- the Mobile segment with the launch of Force Case TM ( a protection case for premium Smartphones with a life time guarantee) banking on the success of Force Glass TM and with the ongoing offer of accessories for the new high end smartphones.
Furthermore Bigben announces a new « BIGBEN 2020 » development plan with sales exceeding 280 M€ and a result from current operations reaching 9% of sales in 2020. This ambition will be supported by:
- the Publishing of new AA gaming titles with a sales target close to 100 M€ making Bigben one of the major players in mid-publishing for console formats
- a strengthening of the partnership with Sony Interactive Entertainment Europe (SIEE) for Gaming accessories
- the development of new high end accessories for the Mobile segment
- the launch of new innovations in the Audio segment particularly under the Thomson brand which has met with increasing success.
The Board of Directors considers paying dividends as from its 2017/2018 financial year and may suggest the distribution of an interim dividend after the September 2017 interim closing should interim results be in line with forecasts.
Upcoming publication:
Sales for 1 st quarter of FY 2017/2018: Monday 24 July 2017
Press release after close of business on Euronext Paris stock market
| ABOUT BIGBEN INTERACTIVE | |
| SALES 2016-2017 208,1M€ HEADCOUNT ca. 350 employees INTERNATIONAL 9 subsidiaries and a distribution network in 50 countries www.bigben-group.com | Bigben Interactive is a European player in video game 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 business segments. Company listed on Euronext Paris, compartment C - Index : CAC SMALL - Éligible SRD long ISN : FR0000074072 ; Reuters : BIGPA ; Bloomberg : BIGFP PRESS CONTACTS CapValue - Edouard Miffre emiffre@capvalue.fr - +33 1 80 81 50 02 CapValue - Gilles Broquelet gbroquelet@capvalue.fr - +33 1 80 81 50 01 |
