Global Graphics publishes 2019 half year financial report
Cambridge (UK), 30 July 2019 (08.00 CEST): Global Graphics PLC (Euronext: GLOG) announces it has published its half year report and condensed consolidated interim financial statements for the six months ended 30 June 2019. The full document is available for download from the investors section of the Company’s website at: http://www.globalgraphics.com/investors/financial-reports
Financial highlights of the six months ended 30 June 2019
- Revenue for the period was €11.30 million, compared with €11.36 million for the same period in 2018.
- The net profit for the period was €0.68 million for the period, compared with a net profit of €1.53 million for the same period in 2018.
- EBITDA for the period was €2.50 million, compared with €2.92 million for the same period in 2018.
- Cash was valued at €4.86 million at 30 June 2019.
- The Company’s measure of adjusted operating profit showed a profit of €1.50 million for the period, compared to an adjusted operating profit of €2.27 million for the same period in 2018.
Please refer to the report and financial statements for more detailed information and analysis.
Gary Fry, Global Graphics CEO comments, “Overall, our performance for the first half of 2019 is in line with our expectations and the guidance we set at the start of the year. However, the performance of individual operating segments has varied from what we had expected.
“Whilst the Software segment had a strong first half-year, partly due to the extension of a major contract, our Printhead Solutions segment was adversely affected. We are seeing the impact of the slowdown in the Chinese economy, reflected notably in the ceramics sector. We are, however, confident in our business model and are very pleased to see that revenues from this segment outside of the top three customers has grown in the first half of 2019 compared with the same period in 2018. The Fonts segment had another strong first half-year and continues to perform well.
“We have made some significant advances in enabling our Printhead Solutions segment to be supported by the unique propositions that our Software segment has to offer, namely ScreenPro™ and PrintFlat™. More customers are working with us across the entire suite of our portfolio, proving that our strategy to be a strategic partner to inkjet machine manufacturers is gaining traction. We have seen a number of contract wins and early successes in Europe and the USA and are starting to see some green shoots in Japan.
“In the Fonts segment our strategy for international expansion is going to plan and we are now seeing consistent revenue from all the geographical locations in which we have invested.
“We remain confident in our overall business strategy as we gear up to a 2020 drupa year.”
The Board will be available to discuss the results by way of a conference call on Wednesday 31 July 2019 at 10:00 BST (11:00 CEST).
To register for the conference call and receive the joining instructions, please click the following link and enter the information requested: https://zoom.us/meeting/register/b265a39fba82088cc5b9141539e44ee6
About Global Graphics
Through its operating subsidiaries, Global Graphics PLC (Euronext Brussels: 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 Type Foundry, and the industrial printhead driver solutions specialists, Meteor Inkjet.
Jill Taylor, Corporate Communications Director
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Graeme Huttley, Chief Financial Officer
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