Prismaflex Intl : Q2 shy of expectations, penalised by one-off lags – Acquisition in print – Buy recommendation maintained and target price lowered to € 18 (vs € 24)
>Q2 sales down 14.6% to € 9.9m (vs € 13.1m est.) - For Q2, Prismaflex reported sales below expectations at € 9.9m, down 14.6% whereas we had been forecasting € 13.1m (+12.7%e), after a Q1 up 7.9%. In H1 sales declined by 2.8% to € 23.6m (vs +10.2% estimated to € 26.8m est.) and -1.8% at constant forex. Note that Anthem Displays (integrated since the start of the financial year) account for € 1.9m (100% LED) in H1. Frames penalised by base effect and lags ...Prismaflex International provides advertising products. Its activity can be divided into two groups: Printing activities and Frames activities. The Printing activities include the manufacture and the sale of printed supports for advertising, decoration and promotion; and the sale of substrates, inks and other printing consumables. The Frames activities include the sale of billboards or fixed systems which allow the display of images or advertising messages. Co. develops frames that can display a single message and those that can display several messages (Trivision, LED, scrolling). These activities include street furniture, supply of spare parts, installation, maintenance and other services.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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