Total Annual Sales at 62.1 M¤: + 22%
Operating margin at 7.4%
Consolidated Statement of Income (04/01/07- 03/31/08)
|Current operating profit||4.82||4.69||0.13||+ 3%|
|Current operating margin||7.8%||9.2%|
|Net earning before sold activities & GW loss results||2.02||2.16||-0.14||-6%|
|Net result||1.96||1.49||0.47||+ 31%|
|Net consolidated result||1.82||1.33||0.49||+ 37%|
|Consolidated equity capital||18.07||16.87|
Over the period, the historical activities (advertising signs, printing, three-message and Street Furniture businesses) showed good sales trend to end at 50 M¤ (+ 8%). The Home Décor activity continued its growth to reach 9.9 M¤ (+ 5.2 M¤) and the recently launched LED sign activity registered in at 2.24 M¤.
With inflation adjusted foreign exchange, total annual sales would have been 1.8 M¤ higher at 63.9 M¤ (+25%).
Operating profit includes a 0.2 M¤ provision for one of the R&D projects. Exclusive of the Prismaflex Street Furniture subsidiary, Operating margin is at 5.7M¤, representing 9.9% of total sales (against 9.7% in 2006/2007).
Financial result, excluding foreign exchange fallback, stands at - 0.9 M¤ (against - 0.8 M¤ for the previous year). The need for Operating capital increased at the same pace as activity to reach 10 M¤ on March 31st 2008. This represents 16% of turnover, compared to 18% the previous period.
The strong devaluation of the Dollar, Sterling and South African Rand result in an exchange loss of - 0.8 M¤ vs - 0.4 M¤ the previous year.
Net result is up by 31% at 1.96 M¤ due in part to last year's sale of the Group's 37% shareholding in Vistamount Ltd (- 0.55 M¤).
Investment programme continued and stands at 2.1 M¤.
Net debt at 11.9 M¤ gives a net debt - equity capital (gearing) ratio of 0.66 against 0.7 for the previous period.
Despite a difficult international context, the Group is continuing its development:of a global offer for advertisers. This offer comprises the design, manufacture and sale of advertising signs, street furniture and large-format digital printing, of large-format digital printing services for other markets including Home Decor.
One of the Group's priorities for the coming period is the turnaround of the Street Furniture activity, the objective being to bring it to breakeven through the optimisation of the organisation and the development of standardised products.
Prismaflex International results will be presented on June 23rd, 2008, at the Hôtel Meurice, 228 Rue de Rivoli, Paris 1er at 17h30.
Outdoor Advertising solutions manufacturer and large format digital printing
ISIN : FR0004044600-PRS - Reuters : PRS.PA - Bloomberg : PRS FP
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