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.
- 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)
At 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
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 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.
About Global Graphics PLC
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.
Chief Financial Officer
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Corporate Communications Director
Tel: +44 (0)1223 926489