Platforms for digital inkjet printing and type design
News Release
Cambridge, UK 10/04/2018
Global Graphics PLC: Trading update for the quarter ended 31 March 2018
PDF version
GLOBAL GRAPHICS PLC (Euronext: GLOG) provides
a trading update for the first quarter of the financial year ending 31
December 2018.
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.
Segment sales analysis
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)
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.
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
EBITDA is calculated by adding back interest, tax, depreciation and amortisation to net profit.
Cash
The Group continues to be free of any interest-bearing bank debt, therefore, has no interest payments or capital repayments to make.
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.
ended 31 March 2018 and 31 March 2017.
|
|
Quarter ended 31 March
| |
| € millions |
2018
|
2017
|
| Software |
2.49
|
1.99
|
| Printhead Solutions |
2.49
|
2.00
|
| Fonts |
0.87
|
0.71
|
| Total revenue |
5.85
|
4.70
|
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
EBITDA is calculated by adding back interest, tax, depreciation and amortisation to net profit.
Cash
The Group continues to be free of any interest-bearing bank debt, therefore, has no interest payments or capital repayments to make.
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.
Editors notes
About
Global Graphics PLC
Through its operating subsidiaries, Global
Graphics PLC (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 Graphics Software; the type foundry, URW++ Design and Development, and the industrial printhead driver solutions specialists, Meteor Inkjet.
Global Graphics also has offices in: Florida, USA; Tokyo, Japan; and Hamburg, Germany.
Global Graphics PLC is headquartered in Cambridge UK. Its subsidiary companies are printing software developers Global Graphics Software; the type foundry, URW++ Design and Development, and the industrial printhead driver solutions specialists, Meteor Inkjet.
Global Graphics also has offices in: Florida, USA; Tokyo, Japan; and Hamburg, Germany.
Contact
Graeme Huttley
Chief Financial Officer
Tel: +44 (0)1223 926472
Email: graeme.huttley@globalgraphics.com
Jill Taylor
Corporate Communications Director
Tel: +44 (0)1223 926489
Email: jill.taylor@globalgraphics.com