FY 2025-2026 analysis
- Revenue down -6.6%, impacted by the contraction in the Hardware business following its strong growth in 2024-2025, while the Printing business remained resilient and was up slightly at constant exchange rates.
- Current EBITDA of €2.9 million, impacted by the lower level of activity.
- Net profit of €0.45 million.
- Positive free cash flow of €2.9 million, supporting a significant reduction in net financial debt (66% of shareholders' equity).
- Solid order backlog of €10.0 million at March 31, 2026.
Full-year results (April 1, 2025 - March 31, 2026)
During its meeting on June 17, 2026, the Board of Directors of Prismaflex International approved the annual financial statements for 2025-2026. The Statutory Auditors have completed their audit procedures. The certification reports will be issued once the procedures required for the publication of the annual financial report have been finalized.
| In €M | Mar 31, 2026 12 months | Mar 31, 2025 12 months | Change (€m) |
| Revenue | 51.24 | 54.88 | -3.64 |
| Gross margin 1 | 26.05 | 27.53 | -1.48 |
| Gross margin rate | 50.8% | 50.2% | |
| Current EBITDA 2 | 2.91 | 4.46 | -1.55 |
| Current EBITDA margin rate | 5.7% | 8.1% | |
| Current operating profit | 1.18 | 1.88 | -0.70 |
| Operating profit | 1.20 | 1.89 | -0.69 |
| Financial income and expenses | (0.43) | (0.41) | |
| Current earnings before tax | 0.76 | 1.48 | -0.72 |
| Tax | (0.32) | (0.26) | |
| Net profit | 0.45 | 1.22 | -0.77 |
| Net profit attributable to the Group | 0.37 | 1.14 | -0.77 |
1 Revenue - consumables purchased, subcontracting, installation, transportation related to purchases and sales
2 Current operating profit + net depreciation and provisions + other calculated income and expenses
In a generally subdued economic environment, the Prismaflex International Group showed its resilience and is reporting profitable full-year results despite the contraction in business. The Group generated largely positive free cash flow*, enabling it to continue reducing its debt.
2025-2026 full-year revenue came to €51.2 million, down -6.6% (-5.7% at constant exchange rates) compared with 2024-2025. This change is linked to the contraction in the Hardware business following the previous year's strong growth, especially with static lightboxes for the specialist retail market.
The Printing business confirmed its resilience, with €35.4 million of revenue, reflecting a slight increase of +0.2% at constant exchange rates (-1.3% at current rates). This performance was supported by the Communications business (€34.9 million, +0.5% on a reported basis and +2.0% at constant exchange rates). The Home Decor business (€0.5 million, -54%) reached a low point in a market that saw negative growth.
The Hardware business is down -16.7% for the year, despite the good performance by LED sales, with +14.1% growth. This performance reflects the expected drop in static lightbox volumes and lower levels of street furniture orders.
The gross margin rate is up +0.7 point to 50.8%. The effective management of material and logistics costs for the Printing division offset a less favorable product mix for the Hardware activity.
Current EBITDA totaled €2.9 million (down -€1.5 million vs 2024-2025), representing 5.7% of revenue, reflecting the lower absorption of costs in the Hardware division due to the reduced activity levels. This was only partially offset by the improvement in profitability for the Printing division.
After depreciation and provisions, the current operating profit came to €1.2 million. With no significant non-recurring items, the operating profit also represented €1.2 million.
Current earnings before tax totaled €0.8 million, after €0.4 million of gross financial debt.
The Group recorded a net profit of €0.5 million.
Financial position: significant reduction in net debt
| Mar 31, 2026 | Mar 31, 2025 | |
| Shareholders' equity (including minority shareholders) | 10.72 | 10.34 |
| Net financial debt | 7.09 | 9.52 |
| Gearing | 66% | 92% |
| Net financial debt (before IFRS 16) | 5.49 | 8.09 |
| Gearing (before IFRS 16) | 51% | 78% |
Cash flow from operating activities totaled €5.0 million, including operating cash generation of €2.9 million (after tax) and a significant €2.1 million improvement in working capital requirements, primarily due to lower inventory and trade receivables in line with activity levels.
Net investment outflows totaled -€2.1 million for the year (vs. -€0.5 million the previous year), split equally between rental lease renewals (IFRS 16) and productive investments in the Printing and LED divisions.
Free cash flow therefore came to +€2.9 million, allocated to deleveraging and debt servicing.
Net financial debt, including €1.6 million of lease liabilities relating to the application of IFRS 16, was reduced to €7.1 million (€5.5 million before IFRS 16) compared with €9.5 million (€8.1 million before IFRS 16) in 2024-2025.
The Group continued moving forward with its deleveraging, with a net financial debt-to-equity ratio (gearing) of 0.66 (0.51 before IFRS 16). Available cash totaled €3.1 million.
Outlook for 2026-2027
Prismaflex International started FY 2026-2027 with a solid order backlog of €10.0 million at March 31, 2026, evenly balanced between the Hardware and Printing divisions.
Since the start of this financial year, commercial trends have been positive, with the Hardware division securing several significant orders, particularly in Africa (Benin and Côte d'Ivoire, for a combined €3.0 million) and in Europe with local authorities.
The Printing business remains solid and continues to generate a steady flow of new orders, particularly in the Communications business. The Home Decor business is expected as a minimum to stabilize this year, supported for instance by the relaunch of the Koziel.fr site.
The Group is announcing the creation of a commercial joint venture with DBI Signs (IKONIK Group), specialized in retail displays, signage and wayfinding solutions, which will complement the services already offered by Prismaflex. This joint venture, operating as DBI Signs France and 49%-owned by Prismaflex, has launched its commercial development on the French market. It will be consolidated on an equity basis in the Group's accounts
Building on these positive trends, the Prismaflex Group is targeting revenue growth for 2026-2027, while continuing to effectively manage its operating expenditure and optimize its productivity.
Next date
Press release: 2026-2027 first-quarter revenue, July 23, 2026 (after market close)
| PRISMAFLEX INTERNATIONAL OUTDOOR ADVERTISING SOLUTIONS MANUFACTURER AND WIDE FORMAT DIGITAL PRINTER ISIN: FR0004044600-ALPRI - Reuters: ALPRI.PA - Bloomberg: ALPRI:FP EURONEXT GROWTHTM www.prismaflex.com |
Contacts:
Florence Thérond - Chief Financial Officer - Tel: +33 (0)4 74 70 68 00 - finance@prismaflex.com
Guillaume Le Floch - Analyst & Investor Relations - Tel: +33 (0)1 53 67 36 70 - glefloch@actus.fr
Marie-Claude Triquet - Press Relations - Tel: +33 (0)6 84 83 21 82 - mctriquet@actus.fr
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