Prismaflex International (ALPRI) H1 25/26 earnings summary

Executive summary

• Revenue for the first half of 2025-2026 was €25.2M, nearly stable year-over-year, reflecting resilience in a challenging economic environment and continued deleveraging.

• Hardware activity grew 1.1% to €7.2M, driven by LED solutions, while Printing and Communications activities experienced moderate declines, mainly due to weaker demand in Home Decor.

• Net income attributable to the group was €0.29M, down from €0.61M in the prior year period.

• Despite market challenges, profitability was maintained and net debt continued to decrease.

• EBITDA margin stood at 6.5% of revenue, with operational expenses well controlled.

Financial highlights

• Revenue: €25.17M (down €0.64M year-over-year), with a €0.3M negative currency impact.

• EBITDA reached €1.6M, representing 6.5% of total sales, down from 8.4% in the prior year.

• Net result was positive at €0.3M for the period.

• Gross margin: 51.3%, slightly down by 0.4 points due to less favorable product mix in Hardware.

• Net debt reduced to €8.3M from €9.5M at March 2025; free cash flow was €1.2M, supporting further deleveraging.

Outlook and guidance

• Management anticipates continued market uncertainty and aims to consolidate activity levels.

• Order backlog at September 30, 2025, stood at €10.3M, nearly unchanged from the start of the year.

• Hardware division backlog was €5.9M, with most deliveries expected before year-end.

• Printing division backlog was €4.4M, focused on Communications; Home Decor expected to benefit from the acquisition of Koziel.fr.

• Ongoing focus on cost control, innovation, and maintaining a strong cash position.