Half-year results - September 30, 2015 | Bourse Reflex
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Half-year results - September 30, 2015

Lundi 07 Déc 2015 à 18:00

Encouraging results:

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

Outlook 2015/2016:

  • 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
Total sales 25.38 25.49
Current operating profit 1.05 0.75
Operating profit 1.05 1.00
Financial result excl. foreign exchange -0.18 -0.18
Foreign exchange losses and gains -0.26 0.19
Tax -0.14 -0.16
Result of discontinued operations / equity method proportion -0.11 -0.07
Net result 0.36 0.79
Net consolidated result 0.37 0.79
Cash flow 1.36 1.59
In € million
Consolidated equity capital 13.85 13.75
Net debt 7.45 7.50
Gearing 0.54 0.55

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.


Forthcoming dates

  • 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


ISIN : FR0004044600-ALPRI - Reuters : ALPRI.PA - Bloomberg : ALPRI.FP



Emmanuel Guzman - CFO - phone: +33 (0)4 74 70 68 00 - finance@prismaflex.com
Amalia Naveira - Analysts/Investors contact - phone: +33 (0)4 72 18 04 92 - anaveira@actus.fr
Marie-Claude Triquet - Press contact - phone: +33 (0)4 72 18 04 93 - mctriquet@actus.fr

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