Prismaflex International (ALPRI) H2 23/24 earnings summary

Executive summary

• Achieved strong improvement in results and returned to profitability despite a 9.8% decline in total sales year-over-year, driven by higher gross margin and tight cost control.

• Positive net result of €0.7 million, reversing a net loss in the prior year.

• Free cash flow of €2.0 million enabled continued reduction in net debt.

Financial highlights

• Total sales: €51.7 million, down 9.8% year-over-year (–8.3% at constant exchange rates).

• Gross margin: €25.6 million, up €0.7 million; gross margin rate rose to 49.5% from 43.5%.

• Recurring EBITDA: €3.6 million (+80% year-over-year), representing 7.0% of sales.

• Operating profit: €1.3 million, up from €0.6 million; net consolidated result: €0.6 million, up from a €0.6 million loss.

• Cash flow from operations: €3.7 million; free cash flow: €2.0 million.

Outlook and guidance

• Order backlog at €7.8 million as of March 31, 2024, split between Hardware (€4.0 million) and Printing (€3.8 million).

• Hardware division targets a return to growth, supported by new international LED orders and strong retail and municipal demand.

• Printing division expects stable activity in Communications and aims to offset Home Décor decline with new market opportunities.

• Focus for 2024-2025 on growth in the second half and further improvement in operating profitability.