AI assistant
Prismaflex International — Earnings Release 2018
Jan 22, 2018
1609_10-q_2018-01-22_1931f7ad-0c9a-4f64-b156-262599c5c107.pdf
Earnings Release
Open in viewerOpens in your device viewer
PRESS RELEASE Lyon, January 22, 2018
2017/2018 3rd quarter sales up 23.5% LED display sales growing fast
Significant points:
- 9-month sales figures, up 14.6% (+15% at constant currencies) clearly reflect an acceleration in the company's growth.
- The success of the Prismatronic LED display product range and the delivery of some highvolume orders (notably Germany and Paris) means Hardware activity (excluding Home Decor) is up 51.4% for the 9-month period. Q3 total sales for the LED range are at a record level of €6.10 million and €10.80 million in YTD (+€8 million vs last year).
- Printing activity (excluding Home Decor) maintains its level of activity.
- As anticipated, order backlog on December 31, 2017 at €14.75 million confirms a good sales and marketing drive.
YTD consolidated turnover (April 1, 2017 – December 31, 2017)
| April 1, 2017 – December 31, 2017 | Q3: Oct. 1, 2017 – Dec 31, 2017 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Non audited | 9 Months | 9 Months | 3 Months | 3 Months | ||||||
| In € million | 2017/2018 | 2016/2017 | Var. €M | Var. % | Q3 17/18 | Q3 16/17 | Var. €M | Var. % | ||
| Printing Activity | 22.79 | 22.98 | -0.18 | -0.8% | 7.61 | 7.97 | -0.37 | -4.6% | ||
| Hardware Activity | 17.00 | 11.74 | +5.25 | +44.7% | 7.89 | 4.57 | +3.32 | +72.6% | ||
| Total 9 months | 39.79 | 34.72 | +5.07 | +14.6% | 15.50 | 12.54 | +2.95 | +23.5% | ||
| Total sales at constant currencies |
39.94 | 34.72 | +5.22 | +15.0% | 15.65 | 12.54 | +3.11 | +24.8% |
The foreign exchange impact for the quarter is mainly due to the appreciation of the Euro against the South African Rand and CAD.
The growth continues for the period with total sales at €15.50 million, up 23.5% (+24.8% at constant currencies). Q3 2017/2018 confirms the success of the Prismatronic LED display range with sales at a record €6.10 million.
Excluding Home Decor, Printing activity stands at €18.51 million for the 9-month period, up 0.8% on N-1. Q3 figures are slightly down (3.6%) notably for South Africa, Canada and for raw materials sales. All other Group subsidiary activities are growing.
Home Decor activity for the 9-month period stands at €4.28 million compared with €5.13 million the previous year (for the record, aluminium frame sales to a key client ended in 2016/2017).
Excellent Hardware sales, and notably LED display sales are driving the Group's growth with sales up 51.4% at €17 million against €11.23 million for the same period the previous year. Total sales for LED displays have been multiplied by 3.8 and stand at €10.81 million compared with €2.81 million in N-1. Today, with around 300 Prismatronic billboards up and running, Germany represents Europe's largest network of LED displays.
Outlook
On December 31, 2017, order backlog, mainly for Hardware, is high at €14.75 million and confirms the positive forecasts for the full period.
On January 9, 2018, Prismaflex International announced it had entered into exclusive negotiations with Anthem displays, an American firm known for the high quality of its LED advertising displays for the OOH American market. The acquisition will be carried out following the merge of the two American entities, Prismaflex USA and Anthem Displays, and will represent a major step for the development of Prismaflex in terms of the opportunities it presents, mainly on the North American market. To enable the operation, Prismaflex International plan on a capital increase (less than 10% of existing capital) and a bank debt to finance the outstanding amount.
Pierre-Henri Bassouls wishes to thank Emmanuel Guzman, Chief Financial Officer, who has been with the Group for around 10 years and wishes him every success in his future projects. Emmanuel will be leaving the Group shortly and will be replaced by two financial experts. One resulting from an external recruitment that has already been concluded (joining the Group late March/ early April) and who will be in charge of corporate finance, consolidation, Hardware activity and investor relations and Florence Therond who has been with the Group since 2001 and who will be responsible for printing activity, financing operations and taxation.
Newt press release: 2017/2018 sales figures, May 14, 2018 after closure.
Contacts:
Emmanuel Guzman CFO - Phone: +33 (0)4 74 70 68 00 – [email protected] Amalia Naveira – Analysts/investors contact - Phone: +33 (0)4 72 18 04 92 – [email protected] Marie-Claude Triquet – Press contact - Phone: +33 (0)4 72 18 04 93 – [email protected]
PRISMAFLEX INTERNATIONAL OUTDOOR ADVERTISING SOLUTIONS MANUFACTURER AND WIDE FORMAT DIGITAL PRINTING ISIN : FR0004044600-ALPRI - Reuters : ALPRI.PA – Bloomberg : ALPRI:FP EURONEXT GROWTHTM www.prismaflex.com