Global Graphics Plc: Trading Update For The Quarter Ended 31 March 2018
11 April 2018 - 2:00AM
UK Regulatory
TIDMGLOG
PRESS RELEASE - REGULATED INFORMATION
GLOBAL GRAPHICS PLC: TRADING UPDATE FOR THE QUARTER ENDED 31 MARCH 2018
Cambridge (UK) Tuesday 10 April 2018 (18.00 CEST) - 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 EUR5.85 million (2017: EUR4.70 million)
-- Gross profit for the quarter was EUR4.58 million, or 78% of sales (2017:
EUR3.61 million, 77% of sales)
-- Net profit for the quarter was EUR0.82 million (2017: loss of EUR0.11
million)
-- EBITDA for the quarter was EUR1.52 million (2017: EUR0.73 million)
-- Cash at 31 March 2018 was valued at EUR5.08 million (31 March 2017:
EUR4.30 million)
At constant exchange rates (those used for the comparative period in
2017), revenue would have been approximately EUR0.30 million higher and
totalled EUR6.15 million. Net profit and EBITDA would have been
approximately EUR0.14 million higher and totalled EUR0.96 million and
EUR1.66 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
EUR 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.
About Global Graphics PLC
Through its operating subsidiaries, Global Graphics PLC
http://www.globalgraphics.com (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
https://www.globalgraphics.com/globalgraphics-software/products/fundamentals
; the type foundry, URW++ Design and Development,
https://www.urwpp.de/en/ and the industrial printhead driver solutions
specialists, Meteor Inkjet. http://www.meteorinkjet.com/
Global Graphics also has offices in: Florida, USA; Tokyo, Japan; and
Hamburg, Germany.
Contacts
Graeme Huttley Jill Taylor
Chief Financial Officer Corporate Communications Director
Tel: +44 (0)1223 926472 Tel: +44 (0)1223 926489
Email: Email: jill.taylor@globalgraphics.com
graeme.huttley@globalgraphics.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Global Graphics PLC via Globenewswire
http://www.globalgraphics.com
(END) Dow Jones Newswires
April 10, 2018 12:00 ET (16:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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