TIDMHYSG
PRESS RELEASE - REGULATED INFORMATION
HYBRID SOFTWARE GROUP RELEASES Q3 RESULTS
Cambridge (UK) 20 October 2022 (18.00 CEST) -- Hybrid Software
Group PLC (Euronext: HYSG) provides a trading update for the nine
months ended 30 September 2022.
CEO Mike Rottenborn comments, "The third quarter of 2022 was
marked by consistent performance in the Enterprise Software and
Printing Software segments. Revenue of the Printhead Solutions
segment recovered to levels in line with the third quarter of 2021
after having experienced a severe downturn in H1 due to the global
shortage of electronic components. Group revenue for the quarter
was up 12% year-over-year despite experiencing more challenging
business conditions than a year ago.
"The third quarter results were favourably impacted by the sale
of an unused asset (approximately 69,000 IPv4 internet addresses)
for a net amount of EUR3.3 million which closed in July. Given the
nature of the sale this income is reported as "Other Income" and is
not included in our revenue figures, but it is accretive to
EBITDA.
"Group EBITDA was significantly up in Q3 thanks to better
operational performance across the board and the sale of the IPv4
internet addresses. EBITDA for the quarter was EUR4.58 million
compared to EUR1.61 million for Q3 2021. Credit is due to the
entire team for rising to the challenge of these difficult business
conditions, and our smaller businesses which focus on colour
management, 3-D visualisation, and legacy printing devices deserve
special mention for outperforming their revenue and cost
targets.
"Although business conditions remain challenging, with rising
inflation and the war in Ukraine causing uncertainty for our
customers, we have delivered profitable growth throughout the
difficult climate of the pandemic, and we expect to continue this
in the future".
Financial highlights for the nine months ended 30 September
2022
The following information is unaudited.
For the quarter ended 30 September 2022
-- Revenue for the period was EUR11.29 million (2021: EUR10.09 million)
-- EBITDA for the period was EUR4.58 million, or 41% of revenue (2021:
EUR1.61 million, 16% of revenue)
For the nine months ended 30 September 2022
-- Revenue for the period was EUR34.73 million (2021: EUR33.87 million)
-- EBITDA for the period was EUR9.20 million, or 26% of revenue (2021:
EUR7.42 million, 22% of revenue)
Segment analysis
The following tables provide unaudited information about revenue
from external customers and EBITDA for the Group's operating
segments for the current and previous financial years. EBITDA is
calculated by adding back interest, tax, depreciation and
amortisation to net profit.
For more information about the Group's operating segments, refer
to the annual report for the year ended 31 December 2021, which is
available from:
https://www.hybridsoftware.group/investors/financial-reports.
For the quarter ended 30 September 2022:
In millions of euros Enterprise Printhead Printing
(unaudited) Software Solutions Software Group Total
Revenue from external
customers 5.14 2.49 3.66 - 11.29
Segment EBITDA 1.36 0.13 3.40* (0.31) 4.58
as a % of revenue 27% 5% 93% 41%
*Includes "Other Income" of EUR3.3 million as outlined
above.
For the quarter ended 30 September 2021:
In millions of euros Enterprise Printhead Printing
(unaudited) Software Solutions Software Group Total
Revenue from external
customers 4.52 2.51 3.06 - 10.09
Segment EBITDA 1.46 0.14 0.28 (0.27) 1.61
as a % of revenue 32% 6% 9% 16%
For the nine months ended 30 September 2022:
In millions of euros Enterprise Printhead Printing
(unaudited) Software Solutions Software Group Total
Revenue from external
customers 16.47 6.10 12.16 - 34.73
Segment EBITDA 4.33 0.35 6.14 (1.62) 9.20
as a % of revenue 26% 6% 51% 26%
For the nine months ended 30 September 2021:
In millions of euros Enterprise Printhead Printing
(unaudited) Software Solutions Software Group Total
Revenue from external
customers 14.85 10.74 8.28 - 33.87
Segment EBITDA 5.17 2.52 0.53 (0.80) 7.42
as a % of revenue 35% 23% 6% - 22%
About Hybrid Software Group
Through its operating subsidiaries, Hybrid Software Group PLC
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(Euronext: HYSG
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) is a leading developer of enterprise software for industrial
print manufacturing. Customers include press manufacturers such as
HP, Canon, Durst, Roland, Hymmen, and hundreds of packaging
printers, trade shops, and converters worldwide.
Hybrid Software Group PLC is headquartered in Cambridge UK. Its
subsidiary companies are colour technology experts ColorLogic
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, printing software developers Global Graphics Software
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, enterprise software developer HYBRID Software
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, 3D design and modelling software developers iC3D
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, the industrial printhead driver solutions specialists, Meteor
Inkjet
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and pre-press workflow developer Xitron
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.
Contacts
Jill Taylor Joachim Van Hemelen
Corporate Communications Director Chief Financial Officer
Tel: +44 (0)1223 926489 Tel: +32 494 62 89 43
Email: jill.taylor@hybridsoftware.group Email: joachimvh@hybridsoftware.group
(END) Dow Jones Newswires
October 20, 2022 12:00 ET (16:00 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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