Hybrid Software Group PLC Publishes 2023 Interim Report
Cambridge (UK), 27 July 2023 (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 2023.
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 difficult economic conditions which we faced in 2022 continued throughout the first half of 2023, bringing challenges for Hybrid Software Group as they have for many companies. But our guiding principles—a commitment to profitable growth and to continuous innovation on behalf of our customers—never wavered.
With the acquisitions of ColorLogic in late 2021 and iC3D in the second quarter of 2022, we have all the technology needed to accomplish our mission as the only full-stack technology provider for digital inkjet printing. Our focus has shifted from operating six companies to integrating one company, a powerhouse of products both for OEM printer manufacturers and for end users, typically printing companies that manufacture packaging and other products using digital inkjet technology.
With inflation now trending downward in many key markets, it is possible that the worst is behind us. But we must expect difficult market conditions to continue through the second half of 2023. Our costs are under control and our cutting edge products are what the market needs, so we will profit from the recovery as it comes. While the timing of the recovery is uncertain, three things are not:
- Consumer product companies will continue to print labels and packaging
- Manufacturing processes will continue moving to inkjet
- Hybrid Software Group will be here at the heart of inkjet printing to serve the needs of the market
All of us at Hybrid Software Group come to work every day to execute our growth strategy on behalf of our customers and stakeholders, and I would like to personally thank our dedicated employees as well as all shareholders for your continued support”.
Financial highlights (unaudited)
|For the six months ended 30 June|
|In thousands of euros||2023 (unaudited)||2022 (unaudited)|
|(Loss)/Profit before tax||(922)||248|
|(Loss)/Profit for the period||(334)||366|
|EBITDA from continuing operations||3,707||4,620|
|Adjusted operating profit||1,518||1,439|
|Adjusted net profit||1,359||958|
About Hybrid Software Group
Through 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.
Joachim Van Hemelen
Chief Financial Officer
Tel: +32 (0) 329 57 53
Floris De Ruyck
Legal Counsel & Investor Relations Officer
Tel: +32 (0) 329 57 53