“Prismaflex International Reports Strong Growth in 2022-2023 Annual Revenue, Driven by Hardware Sales”

2023-05-11 16:00:00

Stable activity at 4^th quarter 2022-2023

2022-2023 annual revenue up +17% to €57.3 million,

driven by sales of the Hardware activity

Elements of analysis of the annual activity:

• Increase in Print revenue (+7%), mainly due to a price effect and the evolution of the product mix
• Strong growth in the Hardware business (+42%) thanks to the commercial successes of the LED range won in France and abroad
• Order book at March 31, 2023 of €11.9 million

Annual consolidated turnover (1^is April 2022 – March 31, 2023)

Cumulative 12 months					T4 : 1is Jan. 2023 – 31 Mar. 2023
Unaudited	12 months	12 months			3 months	3 months
In M€	2022-2023	2021-2022	Was. %		T4 22-23	T4 21-22	Was. %
Print activity	37,32	34,84	+7,1%		8,87	8,94	-0,8%
Hardware activity	20,00	14,08	+42,0%		4,86	4,80	+1,4%
Total CA	57,31	48,92	+17,2%		13,73	13,74	-0,1%
Total at constant currencies	56,91	48,92	+16,3%		13,32	13,74	-3,1%

The currency impact is mainly linked to the Canadian dollar and the US dollar

Prismaflex International realized in 4^th quarter 2022-2023 revenue of €13.7 million, identical to that achieved over the same period in 2021-2022. This level of activity brings annual revenue to €57.3 million, representing growth of +17.2% (+16.3% at constant exchange rates). During this financial year, the Group confirmed its commercial dynamism, even if the economic situation favored a wait-and-see attitude among clients, particularly in the second half of the year.

The “Print” activity posted annual revenue of €37.3 million, up +7.1% compared to the 2021-2022 financial year. This growth comes from the communication activity (+17% to €32.9 million), which benefits from a moderate volume effect and a more significant price effect linked to price increases in response to cost inflation and changes in the business mix. This performance made it possible to offset the decline in the interior decoration activity (-36% to €4.4 million), which was penalized over this financial year by a fall in demand, in particular from the main customer-distributor.

The “Hardware” activity achieved annual revenue of €20.0 million, up +42.0%, collecting the fruits of innovations and commercial actions in France and abroad. Growth was particularly strong in LED panels, which contributed €13.1 million, an increase of +94% over one year. Internationally, the Group delivered significant orders in Africa (Benin and Morocco), Europe (Germany, Belgium) and South America (Brazil, Chile). In France, the LED activity continues to be dynamic with local authorities, billboards and distribution players. Sales of analogue products were down slightly by -6% to €6.9 million, due to the drop in volumes on “Trivision” panels, which were however largely offset by large deliveries of backlit boxes and street furniture (non-digital columns).

However, the inflationary situation continued to weigh on margins in the second half in a context of weaker growth. As announced in January, the adaptive measures taken by the Group will have an effect on operating profitability, especially over the next financial year. Annual current operating income will therefore be negative, while EBITDA should be around €2.0 million.

Perspectives 2023-2024

Prismaflex International starts the 2023-2024 financial year with a solid order book of €11.9 million as of March 31, 2023, up €0.3 million compared to December 31, 2022, confirming the Group’s ability to maintain a good taking orders. However, it is significantly lower than that of March 31, 2022 (€17 million), which included very significant LED orders in Germany.

The “Hardware” Division has an order book of €6.2 million, which notably includes an order for LED screens worth more than €1 million recently won in Italy from Clear Channel. The volume of business with the American billboard continues to develop gradually and other projects are underway. At the same time, the Group continues to position itself on projects in Africa and continues its development in France with its various market segments. Germany’s contribution will be less significant this year, with however orders expected to arrive in the second half.

The “Print” order book at €5.7 million is in line with that of previous quarters. The Group is committed to favoring the most profitable business in the communication business, with demand remaining solid. The basis of comparison for the interior decoration business will gradually become less demanding over the coming quarters.

The Group thus aims to consolidate its market share gains and consolidate its level of activity around €60 million over the 2023-2024 financial year. The priority is to continue to improve margins in order to increase EBITDA and return to current operating profitability over the next financial year.

Next meeting :

Press release of 2022-2023 annual results, June 19, 2023 following market close.

PRISMAFLEX INTERNATIONAL MANUFACTURER OF DISPLAY PANELS AND LARGE FORMAT DIGITAL PRINTER ISIN : FR0004044600-ALPRI – Archyde.com : ALPRI.PA – Bloomberg : ALPRI:FP EURONEXT GROWTHTM www.prismaflex.com

Contacts :

Florence Thérond – Financial Director – Tel: [phone] – [e-mail]

Guillaume Le Floch – Analyst/Investor Relations – Tel: [phone] – [e-mail]

Marie-Claude Triquet – Press relations – Tel: [phone] – [e-mail]

1683825529
#PRISMAFLEX #INTERNATIONAL #Turnover #p.m