Hybrid Software Group Releases Q3 Results
October 26 2023 - 2:00AM
UK Regulatory
TIDMHYSG
PRESS RELEASE - REGULATED INFORMATION
HYBRID SOFTWARE GROUP RELEASES Q3 RESULTS
Cambridge (UK) 26 October 2023 (08.00 CEST) -- Hybrid Software
Group PLC (Euronext: HYSG) provides a trading update for the nine
months ended 30 September 2023.
CEO Mike Rottenborn comments, "The third quarter of 2023 was
marked by overall consistent performance compared to the same
period of 2022, with consolidated revenues up 3% and yielding a 19%
EBITDA margin. Last year's third quarter EBITDA was very favourably
impacted by the one-time sale of an unused asset (approximately
69,000 IPv4 internet addresses) for a net amount of EUR3.3 million.
On an equivalent basis, EBITDA for the quarter declined to EUR1.9
million from EUR2.3 million a year ago.
In September the company attended Labelexpo Europe in Brussels,
Belgium and successfully launched several significant products for
label and packaging production. A major new OEM also introduced
SmartDFE, an integrated Digital Front End for digital printing
devices built with leading-edge technology from across Hybrid
Software Group, at Labelexpo. Q4 will bring additional exhibitions
in the USA and China to further promote our products.
Although business conditions remain challenging in many of our
markets, we have a tight control on costs and strong products to
insure profitable growth now and in the future."
Financial highlights for the nine months ended 30 September
2023
The following information is unaudited.
For the quarter ended 30 September 2023
-- Revenue for the period was EUR11.65 million (2021: EUR11.29 million)
-- EBITDA for the period was EUR1.95 million, or 17% of revenue (2021:
EUR4.58 million, 41% of revenue, including EUR3.3 million of
non-recurring revenue from the IPv4 internet address sale)
For the nine months ended 30 September 2023
-- Revenue for the period was EUR36.54 million (2021: EUR34.73 million)
-- EBITDA for the period was EUR5.66 million, or 15% of revenue (2021:
EUR9.20 million, 26% of revenue, including EUR3.3 million of
non-recurring revenue from the IPv4 internet address sale)
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 2022, which is
available from:
https://www.hybridsoftware.group/investors/financial-reports.
For the quarter ended 30 September 2023:
In millions of euros Enterprise Printhead Printing
(unaudited) Software Solutions Software Group Total
Revenue from external
customers 5.53 2.97 3.14 - 11.65
Segment EBITDA 1.16 0.62 0.30 (0.13) 1.95
as a % of revenue 21% 21% 10% 17%
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%
(*) Q3 2022 EBITDA was favourably impacted by the sale of an
unused asset (approximately 69,000 IPv4 internet addresses) for a
net amount of EUR3.3 million.
For the nine months ended 30 September 2023:
In millions of euros Enterprise Printhead Printing
(unaudited) Software Solutions Software Group Total
Revenue from external
customers 16.40 8.43 11.72 - 36.54
Segment EBITDA 3.16 1.22 1.95 (0.67) 5.66
as a % of revenue 19% 15% 17% 15%
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%
(*) Q3 2022 EBITDA was favourably impacted by the sale of an
unused asset (approximately 69,000 IPv4 internet addresses) for a
net amount of EUR3.3 million.
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
Floris De Ruyck Joachim Van Hemelen
Legal Counsel & Investor Relations Chief Financial Officer
Officer
Tel: +32 (0) 9 329 57 53 Tel: +32 (0) 9 329 57 53
Email: florisdr@hybridsoftware.group Email: joachimvh@hybridsoftware.group
(END) Dow Jones Newswires
October 26, 2023 02:00 ET (06:00 GMT)
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