PRISMAFLEX INTERNATIONAL : Growth prospects confirmed in Q3: +24% on a like-for-like basis - Strong Printing activity

Significant points:

• Printing activity in Q3 attained its highest level on record to stand at €9.2 million (+37%) and confirms its growth dynamic.
• Hardware activity, slightly down over the period, has yet to benefit from a healthy order backlog due to deliveries postponed until 2022.
• Order backlog on December 31, 2021 presents a strong evolution to stand at €16.9 (vs €5.4 million on December 31, 2020).

YTD consolidated turnover (April 1, 2021 – December 31, 2021)

The foreign exchange impact is mainly due to variations of the South African Rand, CAD and GBP.

¹ To facilitate comparability, the Group presents a proforma total revenue for 2020-2021, excluding the contribution from its American subsidiary Anthem Displays that, as of December 23, 2020 when the Group sold off part of its stake in the entity, is no longer fully integrated but instead consolidated on an equity basis.

In Q3 2021-2022, Prismaflex International recorded total sales of €12.0 million, up +23.8%, on a like-for-like basis, at a rate of growth comparable to the first six-month period. This progression takes total sales for the nine-month period to €35.2 million (+25.3%), a level close to that recorded in 2019-2020, on a comparable basis, before the health crisis. This performance is driven by the Printing activity since the Group has only delivered a small part of its Hardware order backlog.

Printing activity for the 9-month period stands at €25.9 million, presenting a strong upturn in activity of +45.6% compared with the same period 2019-2020. The commercial and technological investments are beginning pay off. Printing activity excluding Home Decor, (€20.9 million for the 9 months), that was hard hit by the health crisis, continues to grow quarter by quarter and this quarter was higher than Q3 2019-2020 levels before the crisis. Home Decor activity is also progressing well despite an increasingly demanding basis of comparison with total sales for the 9-month period up +45.2% at €5.0 million.

Hardware activity sales for the 9-month period stand at €9.3 million, down by 9.9% on 2020-2021 on a like-for-like basis. LED displays sales represented €4.3 million of total sales compared with €7.8 million proforma for the same period in 2020-2021. Deliveries of international contracts recently won in Germany and Africa will begin normally in Q4 and allow to make up for a large part of the backlog. The significant upturn in traditional activities, notably static signage, is confirmed with total sales for the 9-month period at €5.0 million (compared with €2.5 million for the same period in 2020-2021 and €4.7 million in 2019-2020).

Outlook 2021-2022

Order intake for the two divisions remained dynamic in Q3, notably with an addition to the order for digital columns and a new order for large format LED screens in Germany. Order backlog continues to progress to stand at €16.9 million on December 31, 2021 (vs €14.7 million on September 30, 2021), offering greater visibility for the end of the financial year and the start of the coming year.

Order backlog for Hardware stands at €10.4 million and the activity will return to growth in Q4 2021-2022 thanks notably to the resumption of international deliveries.

The strong demand for Printing continues and the activity should also consolidate its growth dynamic over the coming months while limiting the inflationary pressure on supplies.

Prismaflex International reiterates is objective of a return to significant and profitable growth in 2021-2022.

Forthcoming date:

2021-2022 annual sales figures, May 10, 2022 after closure.

Contacts:

Florence Thérond – CFO - Phone: +33 (0)4 74 70 68 00 – [email protected]

Guillaume Le Floch – Analysts/investors/press contacts - +33 (0)1 53 67 36 70 - [email protected]

Marie-Claude Triquet – Press relations - Phone: +33 (0)4 72 18 04 93 – [email protected]

Source Actusnews