Hybrid Software Group releases Q3 results
October 26 2023 - 2:00AM
Hybrid Software Group releases Q3 results
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
€3.3 million. On an equivalent basis, EBITDA for the quarter
declined to €1.9 million from €2.3 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 €11.65 million (2021: €11.29
million)
-
EBITDA for the period was €1.95 million, or 17% of revenue (2021:
€4.58 million, 41% of revenue, including €3.3 million of
non-recurring revenue from the IPv4 internet address sale)
For the nine months ended 30 September
2023
-
Revenue for the period was €36.54 million (2021: €34.73
million)
-
EBITDA for the period was €5.66 million, or 15% of revenue (2021:
€9.20 million, 26% of revenue, including €3.3 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 (unaudited) |
Enterprise Software |
Printhead Solutions |
Printing 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 (unaudited) |
Enterprise Software |
Printhead Solutions |
Printing 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 €3.3 million.
For the nine months ended 30 September
2023:
In millions of euros (unaudited) |
Enterprise Software |
Printhead Solutions |
Printing 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 (unaudited) |
Enterprise Software |
Printhead Solutions |
Printing 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 €3.3 million.
About Hybrid Software
GroupThrough its operating subsidiaries. Hybrid Software
Group PLC (Euronext: HYSG) 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. printing software developers Global Graphics
Software. enterprise software developer HYBRID Software. 3D design
and modelling software developers iC3D. the industrial printhead
driver solutions specialists. Meteor Inkjet and pre-press workflow
developer Xitron.
Contacts
Floris De Ruyck |
Joachim Van Hemelen |
Legal Counsel & Investor Relations Officer |
Chief Financial Officer |
Tel: +32 (0) 9 329 57 53 |
Tel: +32 (0) 9 329 57 53 |
Email: florisdr@hybridsoftware.group |
Email: joachimvh@hybridsoftware.group |
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