April 27, 2020 / 4:41 PM / a month ago

BRIEF-Bigben Interactive Q4 Business Declines By 13.8% Due To Covid-19

April 27 (Reuters) - BIGBEN INTERACTIVE SA:

* ON NEW CORONAVIRUS: CUMULATIVE IMPACT IS VERY NEGATIVE ON SALES BUT MUCH LESS ADVERSE ON OPERATING PROFIT

* ON CORONAVIRUS: NO MAJOR DEVELOPMENT DELAY IS CURRENTLY ANTICIPATED IN RELEASE SCHEDULE OF NEW GAMES PLANNED IN ITS LINE-UP FOR 2020/2021

* ON NEW CORONAVIRUS: LESS ADVERSE ON OPERATING PROFIT DUE TO HIGHER MARGINS ACHIEVED THOUGH DIGITAL SALES

* IN Q4 2019/20, BUSINESS DECLINED BY 13.8%, MAINLY DUE TO COVID-19 HEALTH CRISIS AFTER FIVE QUARTERS OF UNINTERRUPTED GROWTH

* GROUP DOES NOT ANTICIPATE ANY CASH-FLOW DIFFICULTIES IN COMING MONTHS

* GROUP IS MAINTAINING TARGETS LINKED TO ITS “BIGBEN 2022” PLAN, WITH SALES FOR 2021/22 FINANCIAL YEAR IN EXCESS OF EUR 350 MILLION AND A CURRENT OPERATING MARGIN IN EXCESS OF 12%.

* Q1 SALES OF 2020/21 WILL BE AFFECTED BY THE EXCEPTIONAL CONSEQUENCES OF THE COVID-19 CRISIS, MAGNITUDE OF THE IMPACT DEPENDING ON THE MODALITIES FOR RETURNING TO NORMAL LIFE Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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