Press Release Lesquin, July 28,2025, 6:00 PM FIRST-QUARTER 2025-26 SALES AT €56.5M, IN LINE WITH THE GROUP'S TARGETS BIGBEN INTERACTIVE (ISIN FR 0000074072) announces today its consolidated sales for the first quarter of its fiscal year 2025-26 (period from April 1,2025 to June 30,2025). IFRS – €M2025-262024-25Variation in %Sales1 st quarter (April 1 - June 30) (1 56.557.9-2.4% <td style="width:311.54px;;border-left: solid black 1pt ; text-ali ...

Core Insights - Bigben Interactive's earnings for the financial year 2024/25 were impacted by delays in new releases, but strong growth is anticipated in 2025/26, particularly in the first half [2][14]. Financial Performance - Total sales for the year 2024/25 were €288.0 million, a slight decrease from €292.0 million in 2023/24 [3]. - Gross profit increased to €147.4 million, with a gross margin of 51.2%, up 2.4 percentage points year-on-year due to an improved product mix [3][4]. - EBITDA before non-recurring items remained stable at €62.1 million, while total EBITDA decreased to €61.1 million from €78.0 million in the previous year [3][4]. - The company reported a net loss of €0.3 million for the period, compared to a net income of €21.0 million in 2023/24 [3]. Business Segment Analysis - NACON's sales were stable at €167.9 million, with a gross margin improvement to 64.4% [6][7]. - Bigben AudioVideo/Telco generated sales of €120.0 million, down from €124.3 million, but gross margin increased to 32.7% due to better procurement control [9][10]. Future Outlook - The 2025/26 financial year is expected to see strong growth, with a busy release schedule for NACON, including major titles like "Robocop: Rogue City" and "Hell is Us" [14][15]. - NACON has secured a new agreement for the World Rally Championship (WRC) license, enhancing its gaming portfolio [17]. - Bigben is focusing on diversifying its product offerings and optimizing its supply chain to improve performance in the mobile accessories market [18][21]. Strategic Initiatives - The company is expanding its distribution channels and launching new products under various brands, including the Force® and Cosy ranges [21][22]. - Bigben is committed to reducing carbon emissions through its supply chain optimization efforts [18]. Shareholder Information - The Board of Directors decided not to propose a dividend for the 2024/25 financial year [13]. - Upcoming events include the Shareholders' General Meeting on 25 July 2025 and the release of first-quarter sales on 28 July 2025 [24].

Core Insights - Big Lots declared bankruptcy in September 2022 after 57 years in business, closing all 1,392 stores due to high prices and a failure to meet customer needs [1][4][12] - Variety Wholesalers acquired Big Lots in January 2023 and is implementing a turnaround strategy focused on creating a more appealing shopping experience [2][3][17] Company Strategy - The previous management's high-low pricing strategy and focus on furniture negatively impacted customer interest, leading to a decline in sales [6][7] - Variety Wholesalers is repositioning the stores by placing apparel from well-known brands at the front and reducing the emphasis on furniture [8][13] - The new merchandise is offered at "everyday low prices" without promotional sales, aiming to attract budget-conscious customers [10][16] Operational Changes - Variety Wholesalers has reopened approximately 60 stores in the southeastern states, with plans to gradually restock and introduce seasonal goods [14][15][17] - Currently, the reopened stores are only 70% stocked, with limited offerings for garden and summer supplies due to prior ordering constraints [13][14][15]

Company Overview - Big Lots is set to reopen 132 stores that were closed last year due to bankruptcy, with the reopening scheduled for May [1][3] - The stores are located in 14 states, primarily in the southern region of the United States, including Alabama, Kentucky, North Carolina, Tennessee, and Virginia [1][3] Acquisition and Ownership - The company filed for bankruptcy in September and subsequently closed approximately 1,000 stores before being acquired by Gordon Brothers Retail Partners [3][5] - Variety Wholesalers, which operates around 400 stores and brands, including Big Lots, has taken over more than 200 Big Lots locations this year [3][5] Store Reopening Details - The reopening of the stores will occur in phases, with some locations already reopened this month [4] - The customer response to the new inventory and deals has been positive, indicating a potential recovery in consumer interest [4] Market Challenges - Big Lots has faced challenges due to high inflation and interest rates, which have negatively impacted consumer spending on home and seasonal products [5][9] - The company operates in a highly competitive market, where other value retailers are perceived to offer better pricing and deals [6][5] Store Locations - The reopening includes stores in various states such as Alabama, Florida, Georgia, Indiana, Kentucky, Michigan, Mississippi, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia [6][8]

Core Insights - Bigben Interactive reported consolidated sales of €288.0 million for the 2024/25 financial year, reflecting a slight decrease of 1.4% compared to €292.0 million in 2023/24 [1][10][17] - The company anticipates a sharp increase in business levels starting in the first half of the 2025/26 financial year, driven by a more robust release schedule in the gaming segment [1][11][16] Sales Performance - Sales in the first quarter of 2024/25 were €57.9 million, down 8.9% from €63.5 million in the previous year [2] - The second quarter saw an increase of 20.8%, with sales reaching €78.0 million compared to €64.5 million [2] - Third quarter sales decreased by 6.8% to €87.7 million, while the fourth quarter sales were €64.5 million, down 7.7% from €69.8 million [2][3] Segment Analysis - NACON Gaming generated €38.0 million in sales during the fourth quarter, with overall gaming sales totaling €26.0 million, a decrease of 1.6% [3][5] - Catalogue sales for new games in the fourth quarter amounted to €9.9 million, down 35.8%, due to a limited release schedule [4] - Back Catalogue sales increased by 46.5% to €16.1 million in the fourth quarter, and for the full year, they rose by 31.2% to €58.6 million [5] Accessories and Audio/Video Business - Sales in the Accessories business totaled €11.0 million, impacted by postponed launches [5] - The mobile accessories market shrank by 10% in the first quarter of 2025, but Bigben's sales fell only by 7.7% to €21.6 million, outperforming the market [6][8] - Audio/Video sales in the fourth quarter were €4.7 million, down from €5.4 million in the previous year, with full-year sales at €26.9 million [9] Future Outlook - The gaming segment is expected to benefit from a busy release schedule in 2025/26, with over 10 games planned [11][12] - The Accessories business is projected to see firm growth, particularly in the first half of the financial year [12][16] - A new production site in Lauwin-Planque, France, is expected to be operational in the second half of 2025/26, focusing on controller production [13] Strategic Initiatives - Bigben aims to enhance its market share through the strong performance of its Force® brand and by diversifying its product range [19] - The company plans to launch several new products, including the Xbox Revolution X Unlimited controller and premium racing accessories [14][15]

Financial Data and Key Metrics Changes - Q4 net sales were $340.4 million, down from $370.4 million in the prior year, with a decline of 0.9% when adjusted for the 53rd week [34][35] - Q4 adjusted EBITDA increased to $14.6 million from $5.3 million in the previous year, representing a nearly 300% increase in profitability [43] - Gross margin improved to 30.4% from 26.8% in the prior year, a 360 basis point increase [39] - Net loss for Q4 was $8.7 million, unchanged from the previous year, but adjusted net income improved to $1.6 million from an adjusted net loss of $7.5 million [41][42] - Full year 2024 sales were approximately $1.2 billion, with adjusted EPS of negative 53 cents per diluted share [44] Business Line Data and Key Metrics Changes - Fishing department sales increased by 10.3% in Q4, while camping sales rose by 5.2% [36] - Firearms unit sales increased mid-single digits, despite a 1.7% decline in the hunting and shooting sports department [38] - E-commerce sales were up double digits in Q4, contributing to over 17% of overall business [16][101] Market Data and Key Metrics Changes - Adjusted NICS data showed a 4.5% decline, but the company outperformed this with mid-single digit growth in firearm unit sales [13] - The company noted a trade down to lower-priced firearms, impacting sales dollars but maintaining average order value [39][74] Company Strategy and Development Direction - The company is focused on a transformation strategy aimed at improving omnichannel retail fundamentals and inventory efficiency [7][10] - Plans for 2025 include returning to same-store sales growth, improving gross margins, and paying down debt [17][49] - Four strategic initiatives for 2025 include focusing on core hunting and fishing products, leveraging local connections, enhancing personal protection offerings, and strengthening brand awareness [20][29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the turnaround strategy, noting steady improvement in sales trends and inventory management [12][33] - The company anticipates challenges in Q1 due to calendar shifts but expects significant opportunities in Q2 and Q3 [61][62] - Management highlighted the importance of being prepared for seasonal demands and improving inventory flow [66][67] Other Important Information - The company ended the year with liquidity of $131 million, an increase of $40 million compared to the previous year [12][48] - Capital expenditures for 2024 were approximately $14.6 million, primarily for store maintenance and technology investments [48] Q&A Session Summary Question: Trends in sales for February and March - Management noted positive sales trends in February, with a shift in holiday timing affecting March sales [56][62] Question: Trade down environment and market share - Management indicated that the trade down in firearms could present an opportunity for market share gains, as they focus on stocking the right products [72][74] Question: Impact of tariffs on consumer behavior - Management stated that there has been no significant change in consumer behavior due to tariffs, attributing any sales shifts to timing of advertising [81][82] Question: Free cash flow conversion from EBITDA - Management expressed confidence in generating positive free cash flow through improved inventory efficiency and sales growth [63][116] Question: Store openings and portfolio optimization - Management confirmed plans for one new store opening and mentioned ongoing evaluations of underperforming stores [110][112]

Core Viewpoint - Ollie's Bargain Outlet Holdings, Inc. has announced the acquisition of 40 former Big Lots store leases, bringing the total to 63, pending bankruptcy court approval [1][2]. Company Strategy - The acquisition aligns with the company's growth strategy, as the new locations are appropriately sized, have favorable lease terms, and are situated in existing trade areas [2]. - The company plans to prioritize the opening of these acquired stores, adjusting its new store openings to optimize operational and financial outcomes [2]. Growth Projections - The acquisition is expected to enable Ollie's to accelerate new store openings in 2025, targeting approximately 75 units, exceeding the previous annual growth target of 10% [2]. Company Overview - Ollie's is the largest retailer of closeout merchandise in the U.S., operating 568 stores across 31 states, offering a variety of brand name products at discounted prices [3].

Company Overview - Bigben Interactive HK Ltd. has entered a licensing agreement with BBC Studios for the animated series Bluey, which has gained significant popularity in Europe, particularly in France [1][2] - The company is known for its innovative products in the digital entertainment industry, focusing on mobile and audio sectors, and has a strong presence in gaming through its NACON brand [5] Product Launch - Bigben is set to launch an interactive luminous alarm clock and nightlight inspired by Bluey in the second half of 2025, designed to be user-friendly and appealing to children [3][4] - The product aims to enhance the daily routines of children while staying true to the essence of the Bluey series, which is characterized by fun and engagement [4] Market Performance - Bluey was the number one program for the 4-10 age group in France in 2024, achieving a peak audience share of 49% on December 5th, and was also the top program on France TV/Okoo digital platforms [1] - The series has become a significant player in the toy market, ranking as the third best-selling license in the PS Figures/Playsets & Accessories category in France for 2024 [2] Brand and Audience Engagement - The collaboration with BBC Studios aims to deepen fan engagement and extend the Bluey brand through innovative product offerings [11] - Bluey has a global reach, being broadcasted in various countries, including Australia and the U.S., through partnerships with major networks like Disney [8]

Financial Performance - Third quarter 2024/25 sales reached €87.7 million, a decrease of 6.8% compared to the same period in 2023/24 [2][4] - First nine months of 2024/25 sales totaled €223.6 million, a slight increase of 0.6% compared to the previous year [4] - NACON Gaming sales for the third quarter were €52.9 million, down 10.3% year-on-year [4] - Bigben AudioVideo/Telco sales for the third quarter were €34.8 million, almost unchanged from the previous year [4][9] Gaming Segment - Gaming sales in the third quarter amounted to €25.4 million, a decrease of 23.7% [5] - Catalogue sales (new games) were €9.8 million, down 52.9% due to lack of major new releases [5] - Back Catalogue sales increased by 24.5% to €15.6 million, reflecting strong momentum [6] - Accessories sales rose 5.3% to €25.2 million, driven by strong performance of RIG headsets and REVOLUTION 5 PRO controllers [7] Bigben AudioVideo/Telco Segment - Mobile Accessories sales fell only 3.9% to €25.3 million, supported by the premium market position of the Force® brand [10] - Audio/Video sales increased by 8.0% year-on-year to €9.4 million, driven by diversification of sales outlets and product range [11] Strategic Developments - NACON plans to build a new production plant for video gaming accessories in France, operational by late 2025 [8] - The plant aims to improve supply chain control, in-house value retention, and inventory optimization [8] Outlook - NACON expects a slightly busier release schedule in the fourth quarter, including three new games [12][17] - Test Drive Unlimited: Solar Crown has over 500,000 players and continues to sell well [13] - Bigben AudioVideo/Telco anticipates stable sales in the fourth quarter, supported by premium positioning and new product launches [14][15] - Strong growth is expected in the first half of 2025/26, driven by new Gaming and Accessories products, a buoyant Back Catalogue, and the launch of the Nintendo SwitchTM 2 console [15][16][19] Market Position - The Group maintains a premium positioning in Mobile Accessories, with products like Force Play Immersion® headphones and the "Origine France Garantie" label charger gaining consumer recognition [18] - NACON has a full range of accessories compatible with the upcoming Nintendo SwitchTM 2 console [19]

Core Insights - Big Lots, a significant player in the discount retail sector, is navigating an uncertain future following its acquisition by Gordon Brothers Retail Partners, which aims to keep hundreds of stores operational [1][2][3] Company Challenges - The acquisition provides a lifeline for Big Lots after a challenging year characterized by financial difficulties and declining sales, with a previous acquisition attempt by Nexus Capital Management failing [3][4] - Big Lots has struggled to adapt to changing consumer preferences, overly relying on traditional brick-and-mortar retailing and facing stiff competition from discount giants like Walmart and Dollar General, as well as specialized retailers such as TJX and Ross [4][6] - The company's heavy emphasis on furniture sales has been detrimental, especially with housing sales and new housing starts at historic lows, leading to inventory issues [7][11] Real Estate Strategy - Big Lots is perceived as a "tier 2 or tier 3" retailer by many landlords, which has limited its ability to secure prime retail locations, a critical factor for attracting consumers [7][8] - Improving real estate strategy is essential for Big Lots to enhance its market presence and consumer engagement [8] E-commerce and Merchandise Strategy - A strong eCommerce platform alone may not guarantee success for Big Lots, as competitors like Ross and TJX thrive without large online presences due to their clear and defined strategies [9][10] - Big Lots must rethink its merchandise strategy to better align with consumer needs, particularly in light of inflation impacting discretionary spending [11][12] Future Opportunities - Big Lots has the potential to innovate and redefine its identity in the retail landscape with the support of Gordon Brothers, focusing on personalized shopping experiences and integrating digital tools [13][14] - Enhancing customer engagement through community-driven initiatives and marketing campaigns, along with a robust eCommerce strategy, could strengthen Big Lots' appeal to both existing and new customers [14]