Six-month period analysis:
- Printing activity continues to progress, delayed launch of new Home Décor product lines
- Sales of LED products from the Chinese JV on the up
- Operating profit progressing following the close control of operating costs
- Negative impact of foreign currency movements on the financial result
- Capital structure is healthy
- Order backlog on October 31, 2015 stands at €5.5 million
- Prismatronic LED signs adopted by some OOH advertising media companies
- Printing activity continues to progress month after month
- Home Décor activity will see the launch of new product lines to replace mature products
Consolidated statement of income (April 01 - September 30, 2015)
On December 1, 2015, the Prismaflex International board closed the accounts for the 2015/2016 SI period. The financial statements were subject to a limited audit review.
|6 months||6 months|
|In € million||30.09.15||30.09.14|
|Current operating profit||1.05||0.75|
|Financial result excl. foreign exchange||-0.18||-0.18|
|Foreign exchange losses and gains||-0.26||0.19|
|Result of discontinued operations / equity method proportion||-0.11||-0.07|
|Net consolidated result||0.37||0.79|
In € million
|Consolidated equity capital||13.85||13.75|
Significant points for the S1 2015/2016 period:
- The product mix shows Printing activity is up 4.4% at €11.50 million, Hardware sales slightly higher than for the previous period at €9.37 million while Home Décor activity is down 13.6% at €4.51 million.
- The new LED product range confirms it growth potential with strong sales for the period of €2.3 million.
- With the pursued monitoring of operating costs, current operating profit is up at 4.1% of sales against 3.0% for the previous year (following measures taken concerning the subsidiaries and analog product activity).
- Operating profit stands at €1.05 million, compared with €1.0 million same period in N-1. Note that the Group last year recorded a €0.25 million profit in relation with an export warranty.
- The financial result for S1 is impacted by a foreign exchange loss of €0.26 million mainly due to a fall in the value of the South African Rand (for €0.23 million) compared to a gain over the same period of the previous year of €0.19 million.
- The net result incorporates the share of the €0.1 million losses of the Chinese JV (34%). The start up and initial results of the joint-venture are encouraging.
- Overall, net result for the period stands at €0.37 million.
Capital structure remains healthy
Working capital needs at €9.69 million represents 19% of total sales, an improvement on September 2014 figures (22%) and is stable compared to March 31, 2015.
Capital structure is solid with a gearing ratio of 0.54. Consolidated equity capital stands at €13.85 million compared with €13.75 on March 31, 2015. Net debt is stable at €7.45 million against €7.50 million on March 31, 2015. This incorporates CICE pre-financing to the BPI of €0.4 million.
Outlook for the year
On October 31, 2015, order backlog is up at €5.5 million against €4.5 million for the same period the previous year.
Prismaflex International pursues the specialisation of its different sites. The Prisma China JV focuses on the production of LED components; France integrates them while Distec concentrates on the production of analog products.
For the LED activity, the group notably:
- delivered Indoor P4 products to Australia
- was selected by a major European group for a pilot project involving the Prismatronic product line
- installed its first signs in South Africa.
Printing and Home Décor activities will receive new production tools at the year-end.
S2 figures are expected to confirm activity trends noted in Q2.
- Conference call: Pierre Henri Bassouls CEO and Emmanuel Guzman, CFO will be available to answer your questions at 2.30pm on Tuesday December 8, 2015. Please contact Actus Lyon on +33 (0)4 72 18 04 90.
- Press release: Q3 2015/2016 sales figures January 20, 2016 after closure
OUTDOOR ADVERTISING SOLUTIONS MANUFACTURER AND WIDE FORMAT DIGITAL PRINTING
ISIN : FR0004044600-ALPRI - Reuters : ALPRI.PA - Bloomberg : ALPRI.FP
Emmanuel Guzman - CFO - phone: +33 (0)4 74 70 68 00 - firstname.lastname@example.org
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