PRESS RELEASE: Bigben announces rise of FY 2020/21 targets

                                                                                 Press release

    Lesquin, 01 September 2020 18:00hrs

Bigben announces rise of FY 2020/21 targets:

• Sales: between 270 M€ and 290 M€
• Current Operating Income (COI) rate ⁽¹⁾: in excess of 10%.

Anticipated sales growth

After a first quarter 2020/21 (from April 1 to June 30, 2020) down 5.8%, impacted by the circumstantial effects of the Covid-19 health crisis, activity resumed an upward trend during the summer with the reopening of points of sale and the continued good performance of digital sales. In this context, Bigben expects to achieve sales of between 270 M€ and 290 M€ (vs. 263.5 M€ as at 31 March 2020).

Improvement in Current Operating Margin ⁽¹⁾

In terms of profitability, Current Operating Income (COI) 2020/21 is expected to grow thanks to the combined effect of controlled operating expenses and growth of Nacon sales ⁽²⁾. Bigben thus anticipates a COI ⁽¹⁾ rate exceeding 10% for 2020/21 (vs. 9% as at 31 March 2020).

 ⁽¹⁾ Current Operating Income (COI) rate = Current Operating Income in percentage of sales = Current Operating Margin
⁽²⁾ 01/09/2020 Nacon press release: revised 2020/21 targets with higher sales between 150-160 M€ and COI rate at 18%