PRESS RELEASE: BIGBEN: 1st Half year 2021/22 Sales

                                                Press release

          Lesquin, 25 October 2021 18:00hrs

1st Half year 2021/22 Sales: 124.0 M€ (-8.7%)

• High sales history for Nacon Gaming 
• Favourable outlook for the 2^ND half year
• Confirmation of 2021/22 and 2022/23 targets
  
  

(1)   ^{Non audited data}

67.3 M€ sales in Q2 2021/2022

In Q2 2021/2022, Bigben recorded sales of 67.3 M€, a 16.5% decline taking into account a high basis of comparison for Nacon Gaming and for Audio / Telco.

NACON GAMING

Nacon Gaming achieved 39.2 M€ sales in Q2 2021/22. These were down 19.5% compared with Q2 2020/21, due to an unfavourable base effect and the situation in the US market which was severely impacted by disruptions in the Asia/USA supply chain.

• Games: Over the period, the video games business generated sales of 14.9 M€, down 18.7% compared to Q2 2020/21, when sales were boosted by a higher level of editorial activity. The releases of WRC®10, RIMS Racing and Rogue Lords achieved good commercial results. With few new games from 2020/21, the back catalogue nevertheless demonstrated its resilience with sales of 6.9 M€, virtually stable when compared to Q2 2020/21.
  • Accessories: In Q2 2021/22, the Accessories business recorded sales of 23.2 M€, down 20.1% compared to Q2 2020/21, which was considered as an exceptional quarter. Against a backdrop of component shortages, the Group strengthened its positions in Europe by anticipating supplies and proactively managing its inventories, particularly controllers for the PlayStation®4 console. In North America, sales were strongly impacted by transport difficulties and many deliveries initially planned for September were postponed to October and November.

BIGBEN AUDIO-TELCO

The Audio-Telco business unit recorded sales of 28.2 M€ in Q2 2021/22, down 11.9% when compared to Q2 2020/21, which benefitted from post-confinement catch-up sales.

• Mobile Accessories generated sales of 21.7 M€ over the period, with the 15.1% decline masking increased sales of products such as Bigben®, Force Power® and Just Green® chargers. Premium smartphones, which are gradually being delivered without chargers, are boosting sales of the charging equipment ranges. Business was also boosted in September by the release of the new iPhone 13.
• Audio posted quarterly sales of 6.5 M€ up 3.6%, thanks in particular to the success of Bigben Party speakers and the further listings in new points of sale.

A 1^st Half year impacted by base effects linked to the first lockdown

Bigben's 1^st Half year sales for FY 2021/2022 amounted to 124.0 M€, a 8.7% drop when compared to the 1^st Half year of the previous financial year. This trend takes into account a high comparison base for Nacon Gaming, dampened by a less unfavourable base effect for Audio/Telco.

Favourable outlook for the 2^nd Half year

Bigben expects a dynamic 2^nd Half year, driven by the prospects for Nacon Gaming and the integration of METRONIC's accounts into the Group's AudioVideo/Telco business as of 15 October 2021.

NACON GAMING

• In the 2^nd Half of FY 2021/22, Nacon expects sales growth with more video game releases including Vampire: The Masquerade®- Swansong. At the same time, the Accessories business will be supported by the launch of the Revolution X Pro controller for Xbox® and continued sales of headsets and controllers for PlayStation®4 and Xbox® Series X|S.
  
  

BIGBEN AUDIOVIDEO/TELCO

• With the acquisition on 15 October 2021 of METRONIC (24 M€ sales in FY 2020), one of the European leaders in image processing, Bigben now has an "AudioVideo/Telco" business unit. This transaction will enable the unit to expand its connected audio-video offer, to open up new distribution channels (in particular DIY & Decoration, Home Universe) and to accelerate its export sales with dedicated subsidiaries in Italy and Spain.
• The gradual renewal of the mobile phone installed base with 5G smartphones and the rapid penetration of new USB-C and Power Delivery charging technologies offer growth opportunities in the personal computer equipment market (PCs, tablets, etc.).
• In addition, thanks to a policy of anticipating purchases for the end-of-year holidays, the business unit should be barely inconvenienced by shortages of electronic components or transport delays.
  
  

Confirmation of targets for FY 2021/22 and FY 2022/23

Bigben confirms its FY 2021/22 targets with sales between 300 M€ and 320 M€ and a COI ⁽¹⁾ rate of 13%.

Thanks to the FY 2022/23 targets of Nacon Gaming, the Bigben Group also confirms its targets for FY 2022/23 with sales (excluding METRONIC) between 360 M€ and 390 M€ and a COI ⁽¹⁾ rate exceeding 14%.

* COI rate = Current Operating Income to sales = Current Operating Margin

Next meeting:

Half-yearly results 2021/2022
Monday 29 November 2021: Press release after close of the Paris stock exchange
Tuesday 30 November 2021: SFAF meeting

Attachment

• PR_BBI_CA_T2 2021-22_Diffusion_Eng