Half Year Results - September 2013

Turnover up and positive net result

2S begins with a large order backlog

Six-month period analysis:

• Total sales for the period driven by a positive environment for all activities


• Positive current operating profit reflects improved Hardware and Home Decor sales


• Capital structure strengthened with a gearing ratio at 0.45

Outlook 2013/2014:

• 2S period starts with a large hardware order backlog


• Efforts in product innovation to continue and LED team numbers will be increased.


• Planned opening of a subsidiary in Russia.

Consolidated statement of income (April 1 - September 30, 2013)

On November 26, 2013 the Prismaflex International board closed the accounts for the 2013/2014 1S period. The financial statements were subject to limited audit review.

1S results reflect the cost management policy and improved overall Group activity, namely a recovery in Hardware sales (LED displays in the US, trivisions in Russia, scrolling signs in Europe and North Africa...) and high Home Decor sales for these first 6 months.

The Group moves from 1.1% operational profitability, for the previous 1S to 5.4% for the current period.

Net result is positive at €0.85 million¹ following an improved financial result (including foreign exchange losses) and €0.22 million corporate tax.

Strenghtened capital structure

Working capital need at €7 million represents slightly more than 14 % of turnover compared with 17% in March of this year. Significant client down payments were received during the period.

Consolidated equity capital is up at €12.82 million while net debt at €5.72 million benefits from improved results and the above mentioned client down payments.

As a consequence of the improved results and cash flow, analysis presents a gearing ratio at 0.45 compared with 0.59 on March 31, 2013.

On September 30, 2013, remaining net goodwill stands at €6.57 million.

2S period starts with a large hardware order backlog

On October 31, 2013 order backlog mainly for Hardware, stands at €11.7 million (€6.1 million for the same period the previous year). Prismatronic order backlog is up.

A number of major orders, namely for street furniture, were recorded in November in Germany and Russia (value in the region of €4.5 million).

With such a level of order backlog in advertising displays, the Group anticipates a growth in Hardware sales revenues for 2S period.

Prismaflex International also continues to innovate, namely with

• the development of its licensed exclusive energy-autonomous displays. An initial trial phase alongside leading professionals of the advertising industry is planned during the first quarter 2014


• the creation of a Digital Centre to meet the increasing demand for the Group's LED product range and reposition part of the added value.

Forthcoming dates

• Conference call: Emmanuel Guzman, CFO, will be available to answer your questions at 10.00 am on Friday November 29, 2013. Please contact Actus Lyon on +33 (0)4 72 18 04 90 - to receive the PowerPoint presentation and conference contact number.

• Press release: 3^rd quarter 2013/2014 sales figures January 16, 2014 after closure

Contacts:

Emmanuel Guzman - CFO - phone: +33 (0)4 74 70 68 00 - [email protected]

Amalia Naveira - Analysts/Investors contact - phone: +33 (0)4 72 18 04 92 - [email protected]

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

¹. Last year Prismaflex International recognised for the period a one-off €3.23 million loss of goodwill in the September 30, 2012 1S consolidated statement of income. Before accounting for the loss of goodwill, net result on September 30, 2012 was close to breakeven.

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Quelle: Actusnews