Significant points:

• Q3 sales slightly up on Q2 figures.
• Upturn in Printing activity undermined by new restrictive measures imposed at the end of the year due to the health crisis.
• Hardware activity penalised due to global wait-and-see attitude.
• Order backlog on December 31, 2020 stands at €5.4 million (without Anthem Displays).

YTD consolidated turnover (April 1, 2020 – December 31, 2020)

• The foreign currency impact for the period is essentially due to fluctuations in the South African Rand, USD and CAD.
• The above figures include Anthem Displays activity up to December 23, 2020, the date on which Prismaflex International transferred part of its holding in the firm, and which is therefore no longer fully consolidated (cf press release dated December 28, 2020)

In Q3 2020-21, Prismaflex International recorded total sales of €10.9 million, up slightly on the previous quarter, but down -26% (-24.7% on a constant currency basis) on Q3 2019-2020 sales. The Group continues to evolve in an unfavourable business environment due to the health crisis that is accentuating client wait-and-see attitude and postponing numerous projects.

Printing activity began the quarter well before activity was undermined by new restrictive measures including partial or total lockdown that hit clients in the events and retail sectors. Q3 sales do however confirm the progress made in Home Decor sales, (+20% at €1.1 million for the period, +10% at €3.4 million for the 9-month period). Printing activity for the 9–month period stands at €17.8 million, down 30.1%.

Hardware activity in Q3 differed from one region to another. In Europe, the activity did not benefit during the period from sizeable deliveries as it did during the same period the previous year, but benefitted from the development of sales to municipalities and the retail sector. In the United States, deliveries from the Anthem Displays subsidiary resumed in November, €1.2 million for the quarter, following on from very poor 6-month period results. Q3 Hardware sales at €4.2 million are in line with sales from the two previous quarters. Over the 9–month period, Hardware activity stands at €12.1 million (including €1.8 million from Anthem Displays), down -21.7%.

Outlook

On December 31, 2020, order backlog stands at €5.4 million, no longer including that of Anthem Displays, now consolidated on an equity basis. Any visibility concerning a return to normal business remains difficult due to the persistent uncertainty of how the pandemic will evolve.

The Group announces that S2 Printing activity should be up on S1 activity, led by Home Décor activity. Concerning Hardware, the activity no longer integrates Anthem Displays sales and continues to be impacted by the wait-and-see attitude of key clients going into Q4. Prismaflex International is currently focusing on the next financial year by preparing both national and international tenders.

In this uncertain context, Prismaflex continues to receive state-help and actively control operating costs and manage its cash-flow.

Next press release: 2020-2021 annual sales figures, May 11, 2021 after closure.
 

Contacts:

Florence Thérond – CFO - Phone: +33 (0)4 74 70 68 00 – finance@prismaflex.com

Guillaume Le Floch – Analysts/investors/press contacts - +33 (0)1 53 67 36 70 - glefloch@actus.fr

Marie-Claude Triquet – Press relations - Phone: +33 (0)4 72 18 04 93 – mctriquet@actus.fr