LED display sales at +120%
Significant points 2017/2018:
- The 2017/2018 sales figures confirm the group's strategic acumen with Prismatronic LED display sales at €14.08 million (+120%) for the period.
- Printing activity (excluding Home Décor) performed well in Q4 to progress by 1.8% for the year.
- Order backlog on March 31, 2018 is high at €10.8 million.
- Prismaflex International recently finalised the acquisition of 50% of Anthem Displays, LLC, a reputed American manufacturer and marketer of LED displays.
Annual consolidated sales figures (April 1, 2017 – March 31, 2018)
|April 1, 2017– March 31, 2018||Q4: Jan 1, 2018 – March 31, 2018|
|Non audited||12 Months||12 Months||3 Months||3 Months|
|In €M||2017/2018||2016/2017||Var. €M||Var. %||Q4 17/18||Q4 16/17||Var. €M||Var. %|
|Total 12 months||54.83||50.12||+4.71||+9.4%||15.04||15.40||-0.36||-2.3%|
|Total (constant currencies)||55.23||50.12||+5.10||+10.2%||15,29||15,40||-0,12||-0,7%|
Currency fluctuations principally concern the appreciation of the Euro against the ZAR and CAD.
Q4 figures are good at €15.04 million against a challenging period of comparison. Total sales for the 12-month period stand at €55.23 million on a constant currency basis, up 10.2% to confirm the dynamic growth for the period.
Printing Activity, excluding Home Décor, is at €25.19 million, up 1.8% on N-1. Q3 performance was slightly down while Q4 figures are up 4.6%.
Home Décor sales stand at €5.69 million compared with €6.64 million for the previous year (for the record, aluminium frame sales to a key client ended in 2016/2017). Total sales would seem to stabilise at around €1.5 million per quarter.
Hardware activity was buoyant for the period with sales at €23.95 million, up 27.8%. This performance is mainly driven by the LED display sales that reached €14.08 million for the period, up 120%. The LED product line is hugely successful among professional of the advertising sector, mass retail groups and also local authorities (electronic information boards).
In such a context the Group expects current operating profit for the period to be up on the previous year.
In order to control the full LED value chain, Prismaflex International decided to create a new production site for the LED modules. The new structure, named Prismatronic China and held for 60% by Prismaflex International, is based in Shenzhen, China, and will be consolidated into the Group's accounts as of 2018-2019. The financial resources required for the operation were raised from the sale of treasury shares over the year. At the same time Prismaflex International sold its stake in Prisma China, a module manufacturing unit of which it owned 34%.
On March 31, 2018, order backlog, mainly for Hardware, is high at €10.8 million confirming the positive performance for the period.
In April, in accordance with the pre-announced calendar, Prismaflex International finalised the acquisition of 50% of Anthem Displays, LLC. The association of a renowned local player will enable Prismaflex USA to accelerate its commercial deployment on one of the largest LED display markets and strengthen its presence on the American continent.
Next press release: 2017/2018 annual sales figures, June 20, 2018 after closure.
SFAF Meeting: at 10 am on June 21, 2018, 135 boulevard Haussmann, 75008 Paris
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