Significant points:
- Printing activity resilient with a return to growth in Q3, almost unchanged at constant exchange rates for the first nine months.
- Hardware activity down sharply (-35.7% in Q3 and -26.4% for the nine-month period at constant exchange rates) on the strong 2022-2023 basis of comparison but up on figures for the previous years.
- Order backlog on December 31, 2023 stands at €8.4 million, up €0.2 million on September 30, 2023.
YTD consolidated turnover (April 1, 2023 - December 31, 2023)
| 9-month total | Q3: Oct. 1, 2023 - Dec 31, 2023 | ||||||
| Not audited | 9 Months | 9 Months | 3 Months | 3 Months | |||
| In €M | 2022-2023 | 2021-2022 | Var. % | Q3 22-23 | Q3 21-22 | Var. % | |
| Printing activity | 27.61 | 28.45 | -3.0% | 8.76 | 8.51 | +2.9% | |
| Hardware activity | 10.93 | 15.13 | -27.8% | 3.15 | 4.95 | -36.3% | |
| Comparable total sales | 38.54 | 43.38 | -11.6% | 11.91 | 13.46 | -11.5% | |
| Total constant currencies | 39.35 | 43.38 | -9.7% | 12.08 | 13.46 | -10.2% | |
The foreign exchange impact is mainly due to variations of the CAD and ZAR.
Activity for Q3 2023-2024 is on a par with the trend recorded during the first six-month period. In Q3, 2023-2024, Prismaflex International recorded total sales of €11.9 million, down -11.5% (-10.2% at constant exchange rates). The results are due to Hardware activity that continues to be impacted by the volatility of the order flow. Printing confirms the resilience of its activity with a return to growth for the period. This quarterly variation takes total sales for the first nine months to €38.5 million, a drop of -11.6% (-9.7% at constant exchange rates).
Printing activity for the nine-month period stands at €27.6 million, down -3.0% compared with the same period 2022-2023 but down only by -0.8% at constant exchange rates. Communications activity continues to resist well with total sales at €24.9 million, in line with results for the same period 2022-2023. In a difficult economic climate, Prismaflex International is focusing on its diversification into new geographical markets and sectors and the development of its all-inclusive print-to-installation service offers. Home decor activity however is down €0.6 million at €2.7 million, and continues to be hit by a fall in demand, notably from key commercial clients.
Hardware activity sales stand at €10.9 million, down -27.8% (-26.4% at constant exchange rates) on the first nine-month period 2022-2023. This trend can be explained by a drop in sales for LED solutions (€5.9 million vs €9.9 million over nine months 2022-2023), which did not benefit this year from any major international orders as was the case last year in Germany. In France, the activity remains strong, driven by relatively dynamic activity on the municipalities sector. Sales figures for traditional hardware activities (notably static signage solutions) remain stable at €5.0 million (vs €5.2 million in N-1).
Outlook 2023-2024
Commercial activity in Q3 2023-2024 took order backlog on December 31, 2023 to €8.4 million, above that recorded on September 30, 2023, with €4.0 million for Printing and €4.4 million for Hardware.
The Printing division continues to benefit from the resilience of the Communications sector and pursues its diversification operations to limit the impact of a decline in Home Decor orders. Importantly, Prismaflex International recently acquired 49% of the capital of its subsidiary FPI and now owns 100% of the capital of the company.
The Hardware division continues its marketing action to promote the Group's latest innovations which continue to be well received by customers. The Group confirms it is well placed for major projects in France and abroad with potential deliveries in 2024.
In such a context, Prismaflex International aims to achieve total sales in Q4 higher than those recorded in Q3. At the same time, the Group will continue prioritising improving current operating profitability and a positive free cash-flow.
Forthcoming dates:
2023-2024 annual sales figures, May 7, 2024 after closure.
| PRISMAFLEX INTERNATIONAL OUTDOOR ADVERTISING SOLUTIONS MANUFACTURER AND WIDE FORMAT DIGITAL PRINTING ISIN: FR0004044600-ALPRI - Reuters: ALPRI.PA - Bloomberg: ALPRI.FP EURONEXT GROWTHTM www.prismaflex.com |
Contacts:
Florence Thérond - CFO - Phone: +33 (0)4 74 70 68 00 - finance@prismaflex.com
Guillaume Le Floch - Analysts/investors contacts - Phone: +33 (0)1 53 67 36 70 - glefloch@actus.fr
Marie-Claude Triquet - Press relations - Phone: +33 (0)6 84 83 21 82 - mctriquet@actus.fr
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