Global Graphics PLC

Publication of 2019 annual report and financial statements

PRESS RELEASE – REGULATED INFORMATION

GLOBAL GRAPHICS PUBLISHES 2019 ANNUAL REPORT AND FINANCIAL STATEMENTS

Cambridge (UK), 11 March 2020 (08.00 CET): Global Graphics PLC (Euronext: GLOG) announces that it has published its annual report and financial statements for the financial year ended 31 December 2019.

The full document is available to download from the investors section of the Company’s web site at:  http://www.globalgraphics.com/investors/financial-reports

Should you wish to receive printed copies please send an e-mail to [e-mail] or make your request in writing, for the attention of the Company’s Chief Financial Officer, to 2030 Cambourne Business Park, Cambourne, Cambridge, CB23 6DW, UK.

Mike Rottenborn, Global Graphics CEO comments, “As forecast, profitability was lower in 2019 due to investment in additional personnel and new product development.  Revenue declined more than expected, primarily due to a slowdown in ceramic tiles and industrial printing that adversely affected our Printhead Solutions sales.  For 2020, we look for continued growth in our Software segment fuelled by tighter integration between Global Graphics Software and Meteor Inkjet, as well as the late-2019 acquisition of Xitron, our largest reseller partner.  We have started to see some recovery in industrial printing for 2020, although it is too early to estimate the impact of the coronavirus outbreak on this segment and the overall business.”

Financial highlights

For the year ending 31 December
In thousands of euros	2019	2018	Change
Revenue	22,508	23,922	(1,414)
Operating profit	983	2,808	(1,825)
Profit before tax	721	2,873	(2,152)
Tax expense	(269)	(504)	235
Profit for the year attributable to equity holders	452	2,369	(1,917)
EBITDA	4,377	5,720	(1,343)
Adjusted operating profit	2,666	4,759	(2,093)
Adjusted net profit	1,819	3,981	(2,162)
Basic earnings per share	0.04	0.20	(0.16)
Adjusted earnings per share	0.16	0.34	(0.18)
Available cash	4,995	5,650	(655)

The consolidated pre-tax result was a profit of €0.72 million compared with a profit of €2.87 million in 2018.  The reduction in profitability of €2.15 million is due to: