PRISMAFLEX INTERNATIONAL Significant points:
- Q3 printing activity is strong (+7,3%), notably due to the integration of FPI. Over a 9-month period activity is on the up.
- Hardware activity continues to be impacted by delays in delivery of LED products.
- Anthem Displays confirms its potential with total sales for Q3 alone of €2.0 million (€4.0 million since the beginning of the year).
- On December 31, 2018, order backlog stands at €9.1 million, close to September 2018 levels.
YTD consolidated turnover (April 1, 2018 – December 31, 2018)
| April 1, 2018– December 31, 2018 | Q3 : Oct 1 – Dec 31, 2018 | ||||||||
| Non audited | 9 Months | 9 Months | 3 Months | 3 Months | |||||
| In € million | 2018-2019 | 2017-2018 | Var. €M | Var. % | Q318/19 | Q317/18 | Var. €M | Var. % | |
| Printing | 23.07 | 22.79 | +0.27 | +1.2% | 8.16 | 7.61 | +0.55 | +7.3% | |
| Hardware | 13.18 | 17.00 | -3.82 | -22.5% | 4.48 | 7.89 | -3.41 | -43.2% | |
| Total 9 months | 36.25 | 39.79 | -3.54 | -8.9% | 12.64 | 15.50 | -2.85 | -18.4% | |
| Total sales at constant currencies | 36.53 | 39.79 | -3.26 | -8.2% | 12.66 | 15.50 | -2.83 | -18.3% | |
The foreign currency impact for the period is mainly due to fluctuations in the South African Rand and USD and CAD.
For the period, Printing activity, with the integration of FPI (consolidated as of November 1, 2018) that accounts for €0.50 million for the period, confirms its positive performance with overall growth at +7.3%. For the 9-month period, Printing is up slightly +1.2%, at €23.07 million despite an unfavourable currency effect of - €0.21 million. Home Décor activity represents €4.10 million of this performance.
On a hard-to-match comparison base, Hardware activity continues to be penalised by a generally morose economic situation in Europe and more particularly in France that encourages a client wait-and-see attitude. The delivery of a major order worth several million Euros to Germany, initially scheduled for S1 is still on hold and could figure in next year's results. In the United States, Anthem Displays generated €2.0 million total sales (€1.8 million for LED), partly due to the recovery of sales backlog. The company's total sales have doubled since the beginning of the year.
Outlook
On December 31, 2018, order backlog, mainly for hardware, stood at €9.1 million. Considering the delays in sales the Group will generate an operational loss at the end of the year (March 2019). Prismaflex International however remains confident in its 2019-2020 growth and profitability prospects (Year-end March 2020). In order to break even in operational terms, operating costs in France need to be optimised. In addition, the Group will continue to monitor the successful integration of recent acquisitions in the United States and France.
Next press release: 2018/2019 annual sales figures, May 14, 2019 after closure.
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Contacts :
Luc Cormoreche – CFO - Phone: +33 (0)4 74 70 68 00 – finance@prismaflex.com
Amalia Naveira – Marie-Claude – Analysts/investors/press contacts
Phone: +33 (0)4 72 18 04 93 – anaveira@actus.fr / mctriquet@actus.fr
Quaterly financial disclosure:
- Third Quarter Information
Full and original press release in PDF:
https://www.actusnews.com/documents_communiques/ACTUS-0-56794-pri-220119-ca-t3-1819-vff-gb.pdf
© 2019 ActusNews
