Bigben Earphone Reports Strong Financial Results for First Half of 2023/24

Bigben Interactive, a leading earphone manufacturer, has announced its consolidated results for the first half of its 2023/24 financial year. The company reported strong growth in net sales and earnings, driven by an improvement in margin rates and a limited release schedule.

Net financial expense increased due to higher interest rates and negative exchange differences. However, firm sales growth is expected in the second half of the financial year, which will help to offset the increase in expenses. Operating income was affected by the limited release schedule, but gross margin rate rose by almost 2 points year-on-year to 48.6%, driven by an improved product mix.

The company's EBITDA grew by 18.7% to €32 million, equaling 25% of sales compared to 19.4% in the previous period. This strong performance was driven by NACON and Bigben AudioVideo/Telco, which contributed €70.8 million and €60.3 million to EBITDA respectively.

Bigben Earphone reported a significant increase in sales for the first half of 2023/24, with total revenues reaching €131.1 million. The company's performance was affected by a release schedule weighted towards the second half, which will likely have a positive impact on earnings in the next period.

Overall, Bigben Earphone's strong financial results demonstrate the company's ability to adapt to changing market conditions and drive growth through its product mix and operational efficiency. With firm sales growth expected in the second half of the year, the company is well-positioned for future success.

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Bigben earphone