Hybrid Software Group Plc Publishes 2022 Interim Report

 
TIDMHYSG 
 

PRESS RELEASE -- REGULATED INFORMATION

HYBRID SOFTWARE GROUP PLC PUBLISHES 2022 INTERIM REPORT

Cambridge (UK), 28 July 2022 (08.00 CEST): Hybrid Software Group PLC (Euronext: HYSG) announces it has published its half year report and unaudited condensed consolidated interim financial statements for the six months ended 30 June 2022.

The full document is available to download from the financial reports section of the Company's web site at https://www.hybridsoftware.group/investors/financial-reports.

Mike Rottenborn, Hybrid Software Group CEO comments, "The first half of 2022 has been challenging for Hybrid Software Group, now comprising six operating units focused on a common mission: to supply all software and electronic components needed to drive an inkjet printing device.

"Our growth strategy remains on target, software revenues are rising, and even the most recent acquisitions, ColorLogic and iC3D, are ahead of

plan and developing valuable new products.   However, unexpected issues sourcing a critical semiconductor chip caused a severe revenue shortfall in our Printhead Solutions segment and erased the gains from the Printing Software and Enterprise Software segments. This resulted in subpar financial results for the first half of 2022, a sharp contrast from the record results this segment delivered in 2021. 

"The situation has already been rectified by redesigning a key circuit board using a more powerful chip. Thanks to heroic efforts by our employees and valuable input from customers who tested the new design, I'm pleased to report that we are now shipping the new board in production quantities and did not lose any customers due to the quick redesign of this key component, so we expect significant recovery in the second half of 2022.

"Hybrid Software Group remains committed to innovation and profitable growth and will continue to invest in additional engineering staff for key projects and business segments."

Financial highlights (unaudited)

 
For the six months ended 30 June 
                                                    2022            2021 
In thousands of euros                           (unaudited)      (unaudited) 
Revenue                                                23,435           23,774 
Operating profit                                          248            2,274 
Profit before tax                                         248            1,977 
Tax benefit                                               118              483 
Profit for the period attributable to equity 
 holders                                                  366            2,460 
---------------------------------------------  --------------  --------------- 
 
EBITDA                                                  4,620            5,812 
 
Adjusted operating profit                               1,439            3,827 
Adjusted net profit                                       958            3,518 
 

About Hybrid Software Group

Through its operating subsidiaries, Hybrid Software Group PLC https://www.globenewswire.com/Tracker?data=m1OrTXNjV0SyRPn1m2jUS9PPBb5J5P4Cht7qE_FEqIO_MIY4zQOhAUYztnLEITGU2f2T9CkOj5w6TZIv5yXJOKF7cR3M9YTU6uhBUvXAYs0GGHIOdM3b2RtSPfhFZV7z (Euronext: HYSG https://www.globenewswire.com/Tracker?data=AhDINoEgT8Dxt5S2UknsSHcNty9MD1p4mvyCiBKbHAmO13MypqV4pn5xbzPy_fyrsu0jLt7MiHw2iykN7x2kP6wlA8dYNTIXXSP5tYUJ01yaxznV6UtoY6Cl8MZGKpwj ) 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 https://www.globenewswire.com/Tracker?data=Qn_lKHZOGfZHT4UZFLG1MzCzl8Q_N6pg3rDBC4fSWJU5qokv7z98XIqnlcCGiAk2XC9R2HH-EEmNMMTYd_rv_g== , printing software developers Global Graphics Software https://www.globenewswire.com/Tracker?data=OMbt1eRZ-GlboxFdivJMHy3TW1oL6DP8cw5zwsdR65nvQzSkL7md6BGPkBoVcY7_cu6wrHProCW16Q1VxvaoNZ1_z1LwjnmK3777r_N893o= , enterprise software developer HYBRID Software https://www.globenewswire.com/Tracker?data=NhVPZ_xfoN9r3lmjKDJEtLGwuhNwxRs1HkSXS5e2gLDdZ3eUxa8H9vwj35N698xBJGrapTkLfcSWCqGWpRF7QACMHqhM-hbvWtkMhPsSCqE= , 3D design and modelling software developers iC3D https://www.globenewswire.com/Tracker?data=245AZu4l4CHH9JtTeA6Gae7DoBxwuyh03769EWiDtaCUNHnB0PMiceCh6g4_FAg3Dx3h2G57pvBv8b60CqAkVVeD_M49lfvi29C9SyXSGg0= , the industrial printhead driver solutions specialists, Meteor Inkjet https://www.globenewswire.com/Tracker?data=zTrXOAarHxmSx_sZlhwRTGUstbMMd6Deha-zpEAgks3tOMN1H5eVZTdlrRZTKyqDt3ffDaWI1JdlRee_tLMfTAy6p6DrJw0YV6LkmOqNrhQ= and pre-press workflow developer Xitron https://www.globenewswire.com/Tracker?data=9Dl5ZKX9T0w94utxiE-yadGGzrZ7p3GlqMgllf780r3TCILjzIb3E3BYsCRo8w1NOQkzHF2K2yzXM1atGMmdrA== .

Contacts

 
Jill Taylor                            Graeme Huttley 
Corporate Communications Director      Chief Financial Officer 
Tel: [phone]                Tel: [phone] 
Email: [e-mail]  Email: 
                                       [e-mail] 
 
 
 

(END) Dow Jones Newswires

July 28, 2022 02:00 ET (06:00 GMT)

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