PRISMAFLEX INTERNATIONAL : 6 months results September 07 - Steady Growth: + 32% - Increase off Current Operating profit: + 40%

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Highlights for the first 6-month period 2006/2007

  • Confirmation of good trends for the Outdoor Advertising market
  • Improving current operating margin: 9.4% (vs 8.9% last year)
  • Profit for the period at 1.38 M¤, (same as 12 months YTD 06/07)

Consolidated 6 months P&L (April 1st, 07 - Sept 30th, 07)

09.07
6 mths
09.06
6 mths
Variation  M¤ Variation  %
Sales 29.55 22.36 + 7.19 + 32.1%
Current Operating profit 2.77 1.98 + 0.79 + 39.9%
Current operating margin 9.4% 8.9%    
Operating profit 2.55 1.98 + 0.57 + 28.8%
Finance cost - 0.62 - 0.66  
Tax - 0.58 - 0.47  
Profit for the period 1.38 0.65 + 0.73 + 112.3%
Cash Flow 2.21 1.59 + 0.62 + 39.0%

Over the first 6-month period, the level of the activity and the result reached confirm the ability of the group to create profitable growth. Main achievements of the period are as follows:

  • First delivery of a 3.2 M¤ 8m2 scrolling signs order for Hardware division. The 2 M¤ balance will be delivered in Q3,
  • Home Decor sales hit an all time high at 4.93 M¤,
  • Set up in August 07 of a subsidiary in Sydney covering territories in Australia & Asia.

Current operating margin stands at 9.4%. Printing margin amounts to 11.8% in line with expectations. Hardware margin at 6.0% is adversely affected by a 424 K¤ loss of the Street Furniture division. Steps have already been taken to restore the profit level of this division, which continues to gain market share.

The tax rate has reached 30 % against 35 % last year due to increasing profit of the Head Office.

Net debt amount to 13.8 M¤ (11.9 M¤ on March 31st 2007), with a gearing ratio of 0.75 vs 0.70.

Working capital has increased by 3.1 M¤ at 12.3 M¤ to provide for a steady level of activity at the beginning of Q3. Capital expenses were 1 M¤.  

Outlook 2007/2008

Main trends experienced over the first 6-month period are expected to continue into the second half. In that context, Prismaflex International has increased its annual Sales forecast from 57 to around 60 M¤ with an operating margin level at around 9.5%. Year end gearing should be at 0.65.

These forecasts are supported by:

  • Good trends in the Printing and Hardware markets,
  • 43.5 M¤ order backlog level for the actual fiscal year (+23.6%),
  • The signature in RSA of a second LED sign order for 850 K¤.

Prismaflex International group six month results will be presented on December 3rd at 11.30 am, at l'Hôtel Meurice, 228 rue de Rivoli in Paris.

PRISMAFLEX INTERNATIONAL
Outdoor Advertising solutions manufacturer

ISIN : FR0004044600-PRS  - Reuters : PRS.PA - Bloomberg : PRS FP

Eurolist by Euronext Paris - Compartiment C
www.prismaflex.com 
Contacts :

PRISMAFLEX INTERNATIONAL
Vincent Bès / CFO - Tel: + 33 4 74 70 68 00 - vbes@prismaflex.com
ACTUS Lyon
Amalia Naveira - Analysts/investissors relations - Tel: +33 4 72 18 04 92 - anaveira@actus.fr
Marie-Claude Triquet - Press contact - Tel: + 33 4 72 18 04 93 - mctriquet@actus.fr

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