Prismaflex International (ALPRI) H1 24/25 earnings summary

Executive summary

• Six-month sales declined 3.1% year-over-year to €25.8 million, with printing activity nearly stable and hardware down 8% ahead of an expected rebound in H2.

• Net result remained positive at €0.7 million, reflecting resilience in a challenging economic climate.

• Order backlog surged to €13.8 million as of September 30, 2024, up from €8.2 million a year earlier, supporting a positive outlook.

Financial highlights

• Gross margin rate improved by 2.9 points to 51.6% due to favorable product mix and supply cost control.

• Current EBITDA was €2.2 million (8.4% of sales), nearly stable year-over-year.

• Free cash flow reached €1.4 million, supporting ongoing net debt reduction.

• Net debt decreased to €9.8 million (or €8.0 million before IFRS 16) from €10.9 million (or €8.7 million before IFRS 16) at March 31, 2024.

Outlook and guidance

• Strong order backlog at €13.8 million provides confidence for profitable growth in H2 2024-2025.

• Hardware division expected to return to growth, driven by LED solutions for French municipalities and retail sector demand.

• Printing division anticipated to maintain performance, led by dynamic communications activity.

• Focus remains on improving operating profitability and further reducing net debt.