Prismaflex International (ALPRI) H1 24/25 earnings summary

Executive summary

• Revenue for H1 2024/25 was €25.8M, down 3.1% year-over-year, with printing activity nearly stable and hardware down 8% ahead of an expected rebound in H2.

• Net income attributable to the group was €0.61M, nearly stable compared to €0.62M in H1 2023/24, and net result remained positive at €0.7M.

• Gross margin improved by 2.9 points to 51.6%, driven by a favorable product mix and cost control.

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

• The group continued deleveraging, with net debt reduced to €9.8M from €10.9M at March 2024.

Financial highlights

• EBITDA for the period was €2.2M (8.5% of revenue), stable year-over-year.

• Operating income was €0.97M, slightly down from €1.07M in H1 2023/24.

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

• Net cash from operations was €1.6M, with a net decrease in cash of €0.28M over the period.

• No new loans or leases were contracted during the semester.

Outlook and guidance

• Strong order backlog at €13.8M 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.

• The group remains vigilant regarding geopolitical and economic uncertainties, especially in international transport and raw material costs.

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