Hybrid Software Group Plc: Q1 Revenue Up 12% Over Last Year

 
TIDMHYSG 
 

PRESS RELEASE - REGULATED INFORMATION

HYBRID SOFTWARE GROUP Q1 REVENUE UP 12% OVER LAST YEAR

Cambridge (UK) 04 May 2023 (08.00 CEST) -- Hybrid Software Group PLC (Euronext: HYSG) provides a trading update for the three months ended 31 March 2023.

CEO Mike Rottenborn comments, "The first quarter of 2023 saw recovering sales in the Printing Software segment with the first marquee sale of our new Digital Front End, SmartDFE, which drives digital inkjet presses with excellent print quality and maximum speed. Printhead Solutions revenues significantly recovered year-over-year as the chip shortages which heavily impacted Q1 2022 revenues have abated.

"Group EBITDA was up in Q1 mainly due to increased revenue. In the Printhead Solutions segment, higher input costs resulting from sourcing difficulties and higher component prices in 2022 did weigh on overall margin contribution, which will continue for some time throughout 2023. However, we anticipate higher revenues from the Enterprise Software segment to offset this.

Although business conditions remain challenging, we have a tight control on costs to insure profitable growth now and in the future."

Financial highlights for the three months ended 31 March 2023

The following information is unaudited.

   -- Revenue for the period was EUR13.96 million (2022: EUR12.45 million) 
 
   -- EBITDA for the period was EUR3.25 million, or 23% of revenue (2022: 
      EUR2.74 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 2022, which is available from https://www.hybridsoftware.group/investors/financial-reports.

For the three months ended 31 March 2023:

 
In millions of euros          Enterprise  Printhead   Printing 
(unaudited)                    Software    Solutions   Software  Group   Total 
 
Revenue from external 
 customers                          5.44        2.85       5.67       -  13.96 
 
Segment EBITDA                      1.48        0.36       1.70  (0.30)   3.25 
as a % of revenue                    27%         13%        30%       -    23% 
 

For the three months ended 31 March 2022:

 
In millions of euros          Enterprise  Printhead   Printing 
(unaudited)                    Software    Solutions   Software  Group   Total 
 
Revenue from external 
 customers                          5.85        1.70       4.90       -  12.45 
 
Segment EBITDA                      1.35      (0.09)       1.76  (0.28)   2.74 
as a % of revenue                    23%        (5%)        36%       -    22% 
 

About Hybrid Software Group

Through its operating subsidiaries, Hybrid Software Group PLC https://www.globenewswire.com/Tracker?data=chCbLFwDdQ-RDQk_FwWknNk3EjTmue6HM_k8vkSieaGIW-AoOSzp6JEjD4Dpb_HIYUReqa-P7aYuJcEUJJnHmuaxyME5W56kdtXEkbDnxtrMxYgoMpYuw5fB0mGP9i27 (Euronext: HYSG https://www.globenewswire.com/Tracker?data=1_vhQDOirHxOYF9INUXEb4i10lUk4k5DP3y1O4QhEpFej74g7_U5NvHg7sgDrQ76OGlAgaGnT_NzKnNQziXeiKG0oVdl7ayTFCG9WWidskDBHRp66_oYOUi30yutGvzM ) 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=SmK6AgM059SyKhzPCA7YPywzotEhAEQhxt7ccjr6nubrBmovWhFBUTJniSII09v8g629uc3p6hrS4A_az0OwDQ== , printing software developers Global Graphics Software https://www.globenewswire.com/Tracker?data=CIxCDuPWENtT-Hc_DsgNUslbSaVDUVJpmRiMDZGrvCXlotLDbbHHD07e71TavLMsrqMuvnyUg1Gabe9UnAR-fKJqZNmdgz4MM0sqJJOkkZQ= , enterprise software developer HYBRID Software https://www.globenewswire.com/Tracker?data=8LKOtoxfYVPe5WQuEp1u2jJUCr1r9y4mb1gmdlyK1pm6BTnRN55dZw8uBGfVv6qvsCgIiHHra-7ivLy4kAoMWrMAFJnJS2HE7w7ru86essk= , 3D design and modelling software developers iC3D https://www.globenewswire.com/Tracker?data=jlNitC9LLJZN7tZeBCEYBCEE5k5shHWlmv2yp6Y61SFEQlZVa7Ayx-JGCZs3ENCpDcPQcPUqwZu3_hY_4S_CNyAidwjo7qKiqahcDx09rjY= , the industrial printhead driver solutions specialists, Meteor Inkjet https://www.globenewswire.com/Tracker?data=sYRp7-IO6Y1pdZIDPWNnOjm49uzRjSTew2Nz5cQ8-9j3kpJCG_rj5HdiAax7RMKv4Dau2PmRrjxAEc-w0dGgk4YCEMBMDohJH7F6xwTdezQ= and pre-press workflow developer Xitron https://www.globenewswire.com/Tracker?data=THYLOSIWRFBVQMT0qjg08gg81SX7aJe49oBoDAB-oaI2sj95TgXHXCb0rj0SjK9wxulc0TylvITs7W1WHMzNsQ== .

Contacts

 
Jill Taylor                              Joachim Van Hemelen 
Corporate Communications Director        Chief Financial Officer 
Tel: [phone]                  Tel: [phone] 
Email: [e-mail]  Email: [e-mail] 
 
 
 

(END) Dow Jones Newswires

May 04, 2023 02:00 ET (06:00 GMT)

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