Order backlog high at €11 million
Significant points for the first half-year period:
- Printing activity remains strong despite an adverse foreign currency effect
- Home décor sales stabilize at €1.4 million per quarter
- Hardware activity is hit by a negative base effect and delayed LED display deliveries
- On 30 September 2018, order backlog is high at €10.95 million
Consolidated figures – first six months (April 1, 2018 – September 30, 2018)
|YTD April 1, 2018 – September 30, 2018||Q2: July 1 – September 30, 2018|
|Non audited||6 Months||6 Months||3 Months||3 Months|
|In €M||2018/2019||2017/2018||Var. €M||Var. %||Q2 18/19||Q2 17/18||Var. M€||Var. %|
|Total constant currencies||23.86||24.29||-0.43||-1.8%||9.98||11.62||-1.63||-14.1%|
The foreign currency impact for the period is mainly due to the South African Rand and USD and CAD
For the six-month period, Printing activity, excluding Home Décor, is satisfactory at €12,10 Million (€12,42 Million in n-1) despite the negative currency effect (notably Canada & South Africa).
Home Décor activity is good at €2.80 million compared with €2.75 for the same period of the previous year.
Hardware activity is hit by a negative base effect (high in Q2 2017/18) and delays in deliveries caused by client activity. Hardware activity should return to more normal levels in S2 thanks to a high order backlog. S1 sales stand at €8.70 million compared with €9.58 for the same period the previous year and include €1.9 million following the integration of Anthem Displays.
Acquisition of FPI
In order to strengthen its position as a specialist in digital printing and to provide a comprehensive range of services to its clients, Prismaflex International has signed a preliminary agreement for the acquisition of 51% of the capital of the company FPI.
Located near Lyon (close to the Prismaflex head offices), FPI specialises in the preparation of small and medium-sized faces for scrolling and static signs. In 2017, FPI had a turnover of €2.6 million for an operating profit of €0.5 million. The agreement should be finalized by November 15, 2018. This operation will be financed by bank loan.
Pierre-Henri Bassouls, CEO Prismaflex International: “This agreement reflects a working relationship that began many years ago and the acquisition will enable us to integrate value but also open new business opportunities.”
The outlook for all the Group's activities is positive with a healthy trend set for S2. On September 30, 2018, order backlog, principally for hardware, is high at €10.95 million.
Next press release: 2018/2019 six-month results, December 6, 2018 after closure. Conference call December 7, 2018.
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