Half Yearly Results - September 2011
Excluding variations in scope of business, firm activity and
operating profit
Six-month period analysis:
- Company activity up 3.7% with strong Home Décor performance
- Margins, fixed costs and financial charges under control
- Negative impact of integration of Distec on results
- Gearing at 0.47 compared to 0.58 on September 30, 2010
Outlook 2011/2012:
- Good order backlog despite economic uncertainty
- Positive outlook for Hardware in S2
- Positive reaction to new products and pursued strategy to innovate
- Integration of UK-based Urban Storm Ltd
Consolidated statement of income (April 1 – September 30, 2011)
On November 21, 2011 the Prismaflex International board closed the accounts for the 2011/2012 S1 period. The financial statements were subject to limited audit review.
6 months | 6 months |
6 months (excl. Distec) |
||
In M€ | 30.09.11 | 30.09.10 | Difference in € Million |
30.09.11 |
Sales | 24.86 | 23.97 | 0.89 | 24.23 |
Current operating profit | 0.87 | 1.25 | -0.38 | 1.20 |
Current operating profit | 3.5% | 5.2% | 5.0% | |
Financial result excl. Foreign exchange | -0.24 | -0.26 | 0.02 | |
Foreign exchange losses and gains | -0.18 | -0.02 | -0.16 | |
Tax | -0.25 | -0.13 | -0.13 | |
Net result | 0.20 | 0.84 | -0.65 | 0.53 |
Net consolidated result | 0.33 | 0.81 | -0.48 | |
Self-financing capacity | 1.01 | 1.57 | -0.56 | 1.27 |
In M€ | 30.09.11 | 31.03.11 | 30.09.10 | |
Consolidated equity capital | 18.29 | 18.56 | 17.39 | |
Net debt | 8.67 | 7.73 | 10.04 | |
Gearing | 0.47 | 0.42 | 0.58 |
Maintained profitability (excluding Distec)
In April 2011, Prismaflex International acquired 59% of the German manufacturer of scrolling signs and display columns Distec. Although the operation had a negative impact on results for the period, it opens the way to the German and East-European markets. At constant scope (excluding Distec), operating profit at €1.2 million is close to that of 2010 thanks in part to the good management of the company’s fixed costs.
Strong capital structure
With consolidated equity capital at €18.29 million, the capital structure is healthy despite the €0.42 million negative impact of currency evolution (Euro) on the goodwill. Net debt has improved by €1.4 million compared to September 2010 to stand at €8.67 million. Customer down payments as of March 31, 2011 have been absorbed.
Working capital need at €8.9 million represents 18% of total sales, unchanged from September 2010.
Analysis presents an improved gearing ratio at 0.47 compared with 0.58 on September 30, 2010.
Integration of UK-based Company Urban Storm Ltd
Present on the UK digital print market since 2003, Prismaflex International has entered into a merger with its competitor Urban Storm Ltd through an exchange of securities in order to attain the critical size for competitiveness on the digital printing market in the UK. As a result of the operation, Prismaflex will own 60% of the UK-based merged entity with the two companies working out of the same premises. Urban Storm Ltd has been operating on the outdoor advertising market for around fifteen years and holds a patent for a truck advertising system and static signs.
Performance and outlook
Due to the uncertain economic environment, Prismaflex International remains cautious and maintains its fixed costs and financial charges management strategy.
A saving plan has been set up to improve Distec Gmbh profitability by lowering the break-even point. The positive impact should be felt over the coming financial year.
On October 31, 2011, Group order backlog, primarily composed of orders for hardware, remains strong at €6.8 million and should continue to progress through to the end of the year.
Forthcoming dates
- Conference call: Pierre Henri Bassouls, CEO and Emmanuel Guzman, CFO will be available to answer your questions at 10.00 am on Thursday December 1, 2011. Please contact Actus Lyon on +33 (0)4 72 18 04 90 - to receive the PowerPoint presentation and the conference contact number.
- Press release: 3rd quarter 2011/2012 sales figures January 19, 2012 after closure.
PRISMAFLEX INTERNATIONAL Outdoor Advertising solutions manufacturer and large format digital printing ISIN: FR0004044600-PRS - Reuters: PRS.PA – Bloomberg: PRS FP Eurolist by Euronext Paris – Compartiment C www.prismaflex.com |
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]
Communiqués au titre de l'obligation d'information permanente :
- Communiqué sur comptes, résultats, chiffres d'affaires
Communiqué intégral et original au format PDF :
http://www.actusnews.com/documents_communiques/ACTUS-0-25999-cp-prismaflex-301111.pdf
<!-- 90 -->
© Copyright Actusnews Wire
Recevez gratuitement par email les prochains communiqués de la société en vous inscrivant sur www.actusnews.com
Receive by email the next press releases of the company by registering on www.actusnews.com, it's free
Quelle: Actusnews