Significant points for the year:Record sales figures Strong growth for interior decoration activity First sales of LED Signs Strong impact of foreign exchange rates and Street Furniture activity on global profitability
Annual Consolidated Sales Figures (1st April 2007 - 31 March 2008)
|In M¤ (expected)||2007/2008||2006/2007||Variation in M¤||Growth|
|Printing activity||26.39||22.13||+ 4.25||+ 19 %|
|Frames activity||35.73||28.89||+ 6.84||+ 24 %|
|Of which Barco activity||2.24||0|
|Total 12 months||62.12||51.02||+ 11.1||+ 22 %|
|Total 12 months excluding LED Signs||59.88||51.02||+ 8.9||+ 17 %|
With inflation adjusted foreign exchange, total annual sales would have been 63.89 M¤ (+ 25%). The weak Dollar, Sterling and South African Rand impact sales figures and result.
The second quarter confirms the trend of the fourth quarter 2006/2007, with a rise in activity of 13.6% to 32.57 M¤. With inflation adjusted foreign exchange, sales come to 33.75 M¤ (+ 17.8%).
Business up by 22% for the year
Excluding interior decoration, the printing activity at 20.45 M¤ is up by 5.9% (+ 1.14 M¤) to reach levels attained during the second half of 2006/2007.
Interior decoration activity stands at 9.88 M¤ (+ 5.2 M¤), an increase of more than 110%.
Frames activity (excluding interior decoration) is at 31.78 M¤, up by 17.6% (+ 4.7 M¤) and confirms the upward trend on the outdoor advertising market.
Three-Message sign sales at 11.73 M¤ reflect an anticipated decrease (- 8.1%), while at 10.20 M¤, the other sign ranges have progressed by 24.9 % (+ 2.03 M¤) benefiting from an initial delivery worth 3.2 M¤ of scrolling signs for the city of Madrid. A second order, worth an estimated 1.6 M¤, will be delivered in the first half of 2009.
Street Furniture sales reach 6.5 M¤ against 6.07 M¤ the previous year, representing a negative contribution to the group's results. Discussions are underway to make this activity profitable.
The first sales of the large format screen LED signs occurred in the second half of the year, representing 2.24 M¤. Initially, only the sales commissions were to be entered in the accounts, however the group decided to include the figures in the turnover following the spectacular success of this activity and the various operations related to it. If the induced gross margin is low, it contributes favourably to the group's results.
Strengthening global presence
In 2007, the group inaugurated Prismaflex Australasia (Sydney). The first major orders should not be long in coming.
Also, in the coming months, the group will launch Prismaflex Arabia, based in Bahrain, in partnership with the region's largest national advertiser.
Trend of the results for 2007/2008 and outlook
Operating profit for 2007/2008 should be close to that of the previous year and represent between 7% and 8% of turnover (9% last year). The depreciation of the main currencies against the Euro, the posting of LED sign sales and the impact of the Street Furniture activity go a long way to explaining this evolution.
The positioning of the group as global player on the world market will help the group maintain growth during 2008/2009. At the start of the 2008/2009 period, the order book (principally for orders relating to the frames activity) represented 7.5 M¤ against 7.7 M¤ the previous year.
In a difficult international context, the group will continue to develop its activities on all the markets and will intensify its efforts concerning the loss-making and low-return activities.
Next press release: 2007/2008 annual figures, June 23, 2008 after closure.PRISMAFLEX INTERNATIONAL
Outdoor Advertising solutions manufacturer and large format digital printing
ISIN : FR0004044600-PRS - Reuters : PRS.PA - Bloomberg : PRS FP
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