GLOBAL GRAPHICS PLC (Euronext: GLOG) provides
a trading update for the first quarter of the financial year ending 31
Gary Fry, Global Graphics CEO comments, “the
year has started well with a strong performance from all three operating
segments. It is pleasing to see that our strategy to offer printer
manufacturers a more integrated solution for their production digital presses
is bearing fruit, buoyed by the growth in industrial inkjet markets. It’s
also pleasing to see that the increasing cooperation between our business
units and the resulting geographical expansion is contributing to revenue
growth. Equally important is that all segments have shown a positive
operating profit in the quarter, which places us in a good position for
the remainder of the year.”
Financial highlights for the quarter ended
31 March 2018
The following information is unaudited.
- Revenue for the quarter was €5.85 million
(2017: €4.70 million)
- Gross profit for the quarter was €4.58 million,
or 78% of sales (2017: €3.61 million, 77% of sales)
- Net profit for the quarter was €0.82 million
(2017: loss of €0.11 million)
- EBITDA for the quarter was €1.52 million
(2017: €0.73 million)
- Cash at 31 March 2018 was valued at €5.08
million (31 March 2017: €4.30 million)
constant exchange rates (those used for the comparative period in 2017),
revenue would have been approximately €0.30 million higher and totalled
€6.15 million. Net profit and EBITDA would have been approximately
€0.14 million higher and totalled €0.96 million and €1.66 million respectively.
Segment sales analysis
The following table provides information
about revenue for the Group's operating segments for the quarter
ended 31 March 2018 and 31 March 2017.
Quarter ended 31 March
Each segment has produced significant revenue
growth compared to the same quarter in 2017 and the Software and Printhead
Solutions segments have shown a similar increase when compared to the final
quarter of 2017.
EBITDA is calculated by adding back interest,
tax, depreciation and amortisation to net profit.
The Group continues to be free of any interest-bearing
bank debt, therefore, has no interest payments or capital repayments to
Deferred consideration payments for the acquisition
of Meteor Inkjet Limited are contingent on revenue and will be paid annually
in arrears. No payments are due during this financial year, with
the next payment expected to be made in Q1 2019.
Global Graphics PLC
Through its operating subsidiaries, Global
(Euronext: GLOG) is
a leading developer of platforms for digital inkjet printing and type design
and development. Customers for digital inkjet technology include press
manufacturers such as HP, Canon, Durst, Roland, Hymmen and Mark Andy. Those
for font design include numerous international brands, from manufacturers
such as Mercedes Benz and Siemens, to digital media and epublishing companies.
Global Graphics PLC is headquartered in Cambridge
UK. Its subsidiary companies are printing software developers Global
; the type foundry,
Design and Development,
industrial printhead driver solutions specialists, Meteor
Global Graphics also has offices in: Florida,
USA; Tokyo, Japan; and Hamburg, Germany.
Chief Financial Officer
Tel: +44 (0)1223 926472
Corporate Communications Director
Tel: +44 (0)1223 926489