PRISMAFLEX INTERNATIONAL : First 6-month results - September 2008 - Total Sales at 28.46 M EUR
Significant points for first half year period:Significant negative impact of foreign currencies compared to previous year Hardware Activity still going strong particularly for order-taking Printing Activity down over summer period and for some areas Firmness of the Group thanks to strong international network and wide range of products To meet market expectations, Prismaflex International launches "GRAPH'IT", a new generation of glue-free dry posting signs.
Consolidated Sales first 6-months (April 1st -September 30th 2008)
|M€ (estimated)||2008/2009||2007/2008||Variation M€||%|
|Hardware Activity||16.10||16.03||+ 0.07||0.4%|
|Total 6 months||28.46||29.55||- 1.09||-3.7%|
|Total constant currencies||30.20||29.55||+0.65||+ 2.1%|
Fluctuations on Dollar (-11%), Pound Sterling (-14%) and South African Rand (-19%) face to €uro had a significant impact on activity for the first 6 months.Excluding foreign currency fluctuations, Printing Activity would have stood at -3.1% and Hardware Activity at + 6.5%.
Printing Activity (excluding Home Decor) at 9.6 M€, down approximately 9% due to currency fluctuations and particular overall economic situation in certain areas.
Home Décor sales stand at 4.6 M€ against 4.9 M€ for the equivalent period last year (orders for new products during the previous year).
A new three-year contract, for a guaranteed annual sales volume of approximately 8 M€, was signed during the period.
Hardware Activity (excluding Home Decor) at 14.3 M€ is up by 1.5% (or 6.5% with constant currencies).
Three-message sign sales at 5.7 M€ remain steady despite drops in some regions (USA). Other advertising sign sales at 6.2 M€ are up by 15% partly thanks to the success of the scrolling sign activity. This growth confirms the popularity of the model despite a difficult economic context.
Street Furniture sales stand at 1.9 M€ against 2.8 M€ for the previous period and reflect the action plan put in place to turn the activity round.
On 30th September 2008, the order books are healthy, with 8.4 M€ of orders compared to
7.5 M€ on 31st March 08.
The Group's geographical development continues in Australia and Bahrain to diversify revenue sources. With the launch of these new subsidiaries and the Street Furniture activity, operating margin for the period should stand between 5% and 6% of turnover (non audited forecast).
Despite the difficult economic context, the Company remains confident for the future and has launched "GRAPH'IT", to respond to a three-fold demand from advertising companies: simplifying and increasing the safety of posting operations, enhancing quality with the use of digital printing techniques, and protecting the environment by eliminating the use of glues.
6 months results 2008/2009 will be released on December 2nd, 2008 (6 pm)PRISMAFLEX INTERNATIONAL
Outdoor Advertising solutions manufacturer and large format digital printing
ISIN : FR0004044600-PRS - Reuters : PRS.PA - Bloomberg : PRS FP
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