PRISMAFLEX INTERNATIONAL Significant points for 1st quarter:
- Printing activity performing well (+9%): the growth in BtoB activity, boosted by FPI, making up for the decrease in Home Décor activity.
- Revived growth for LED billboard sales. Hardware activity has been however penalised by a demanding basis for comparison for the quarter concerning street furniture.
- Order backlog on June 30, 2019 stands at €9.1 million. A number of new projects have been submitted.
Q1 consolidated sales
| Q1: April 1 – June 30, 2019 | ||||
| Not audited | 3 months | 3 months | ||
| In €M (estimated) | 2019-2020 | 2018-2019 | Var €M | % |
| Printing activity | 8.61 | 7.90 | +0.71 | +9.0% |
| Hardware activity | 4.21 | 5.78 | -1.57 | -27.2% |
| Total T1 | 12.82 | 13.68 | -0.86 | -6.3% |
| Total constant currencies | 12.74 | 13.68 | -0.94 | -6.9% |
The foreign exchange impact is mainly due to variations in the value of the USD and South African Rand.
Prismaflex International Q1 figures are down by €O.9 million at €12.8 million compared with the same period for the previous year but up slightly against the two previous quarters.
Printing activity for Q1 is strong with total sales at €8.6 million, up +9.0% (+1.3% on a like-for-like basis taking into consideration FPI figures of €0.6 million). Growth is reduced by the €0.6 million drop in Home Décor specialist retail activity. Excluding Home Décor, total sales stand at €7.7 million against €6.5 million for the same period the previous year, an increase of 19.2% (+9.8% at constant scope), benefitting from investments in new machines made the previous year and the positive trend in activity notably in the UK, Spain and France.
Hardware sales are down following significant street furniture sales in Q1 n-1 (differential €1.9 million). By contrast LED display sales return to growth for the quarter (€2.5 million vs €2.O million) benefitting from accelerating activity in the United States (Anthem Displays) and the resumption of deliveries since late June of an order received last autumn for Germany.
Outlook
On June 30, 2019, order backlog stands at €9.1 million.
The Group anticipates a return to global growth over the coming months building notably on the performance of Printing activity and better visibility of Hardware activity, with good growth prospects in the United States and numerous consultations with the EMEA region. Hardware activity will also benefit from a more favourable like-for-like basis over the coming three quarters. Prismaflex International reaffirms its global growth target for 2019-2020.
Appointment of Florence Therond as Chief Financial Officer
Prismaflex International announces the appointment of Florence Therond as Chief Financial Officer following the departure of Luc Cormorèche. Florence Therond has been with the Group for over 18 years and previously held the position of Financial Manager for the Printing activity.
Forthcoming dates:
The Annual Shareholders Meeting will take place on September 30, 2019 in Saint Clément les Places (69930) France at 2.30pm.
Q2 sales figures, October 24, 2019 after closure.
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Contacts:
Luc Cormoreche - CFO - phone: +33 (0)4 74 70 68 00 – finance@prismaflex.com
Guillaume Le Floch – Relations analystes/investisseurs - Tél : 01 53 67 36 70 – glefloch@actus.fr
Marie-Claude Triquet – Press contact – phone: +33 (0)4 72 18 04 93 - mctriquet@actus.fr
Quarterly financial reporting:
- First quarter financial report
Full and original press release in PDF:
https://www.actusnews.com/documents_communiques/ACTUS-0-59481-pri-ca-t1-1920-gb-vff.pdf
© 2019 ActusNews
