- Printing activity up +10% for the 9-month period despite the cyclical slowdown in Q3 (-7%).
- Buoyant growth in Hardware activity (+72% in Q3 and +63% for the 9-month period) thanks to major commercial successes for the LED product range in France and abroad.
- Order backlog on December 31, 2022 stands at €11.6 million.
YTD consolidated turnover (April 1, 2022 – December 31, 2022)
|April 1 – December 31,2022||Q3: Oct 1, 2022 – Dec 31, 2022|
|Non audited||9 Months||9 Months||3 Months||3 Months|
|In €m||2022-2023||2021-2022||Var. %||Q3 22-23||Q3 21-22||Var. %|
|Comparable total sales||43.58||35.18||+23.9%||13.46||12.04||+11.8%|
|Total constant currencies||43.05||35.18||+22.4%||13.32||12.04||+10.6%|
The foreign exchange impact is mainly due to variations in the CAD and USD.
In Q3 2022-2023, Prismaflex International recorded total sales of €13.5 million, up 11.8% (+10.6% at constant exchange rates). The sustained growth in Hardware activity with notably the first deliveries of orders to Morocco and Brazil helped offset the cyclical downturn in Printing activity that currently faces a hard-to-match basis of comparison particularly for the Home Décor activity. This quarterly evolution takes total sales for the period to €43.6 million, an increase of +23.9% (+22.4% at constant exchange rates).
Printing activity for the 9-month period stands at €28.5 million, up 9.9% compared with the same period 2021-2022. This progression results from positive traditional print activities (+20% for the period at €25.1 million), driven by a volume effect resulting from commercial and technological investments and a price effect linked to increased sale prices to make up for cost increases. Demand in the sector remains positive despite the cyclical wait-and-see attitude that was increasingly felt at the end of the calendar year. Home decor activity however is down €1.6 million at €3.3 million and continues to be impacted by a fall in demand from a key commercial client (destocking). An upturn in activity is anticipated in the coming months.
Hardware activity sales for the 9-month period experienced particularly strong growth (+63%) to stand at €15.1 million, in line with the high order backlog. The progression is particularly strong for LED displays (+130% at €9.9 million). This performance is due to the delivery of international orders to Africa (Benin and Morocco), Europe (Germany), and South America (Brazil). LED activity in France also maintains its good momentum on the municipalities, media and retail sectors. Analog product sales are also up to stand at €5.2 million (+5%) with substantial orders for backlit lightboxes, street furniture (non-digital display columns) and trivision displays.
In a complex and changing economic climate, Prismaflex International intends to pursue its growth into Q4 thanks to a strong order backlog on December 31, 2022 at €11.6 million (€5.9 million for Hardware and €5.7 million for Printing). Commercial activity since the beginning of Q4 is generally well oriented.
Hardware activity shall continue to benefit from recent commercial successes with continued deliveries in Q4 to Germany, Belgium, Brazil and Morocco and a good number of tender consultations. Printing activity should maintain a good level of activity in line with that recorded in Q4 2021-2022, with an expected upturn in Home Décor activity.
Prismaflex International aims to close in on the €60 million mark in total sales for the 12-month period. However the current inflationary context will continue to impact operating profitability which is likely to be lower in S2 that in S1. The efforts undertaken to return to the Group's historical level of gross margin and operating profit should have a positive impact on the next fiscal year.
2022-2023 annual sales figures, May 11, 2023 after closure.
|PRISMAFLEX INTERNATIONAL |
OUTDOOR ADVERTISING SOLUTIONS MANUFACTURER AND WIDE FORMAT DIGITAL PRINTING
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