EEDE, THE NETHERLANDS--(Marketwire - March 8, 2011) - Punch Graphix nv (NYSE Euronext: PGX), parent company of digital printing technology innovator Xeikon and prepress equipment manufacturer basysPrint, announced today that it has posted strong financial results for 2010, thanks to increased equipment and consumables sales and strict cost management.
The major highlights of the results are provided below:
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Sales rose 18 percent, from EUR 118.4 million (or $164.1 million USD) in 2009, to EUR 139.3 million (or $193 million USD) in 2010.
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Overall equipment sales as well as recurring income from consumables and service activities rose by 18% in 2010 compared to 2009.
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The net profits were EUR 4.6 million (or $6.4 million USD).
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The net financial debt by EBITDA ratio for the company has decreased from 1.56 in 2009 to 1.13 in 2010.
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The financial solvency ratio of the company rose from 58% in 2009 to 63% in 2010.
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The group's operational cash flow (EBITDA) rose 74%, from EUR 18.0 million (or $24.9 million USD) in 2009 to EUR 31.3 million (or $43.3 million USD) in 2010.
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Xeikon digital printing solution sales increased 13 percent, from EUR 85.2 million (or $118.2 million USD) in 2009, to EUR 96.3 million (or $133.4 million USD) in 2010.
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Prepress solution sales increased 30 percent, from EUR 33 million (or $45.7 million USD) in 2009 to EUR 42.9 million (or $59.4 million USD) in 2010.
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In geographical terms, the sales increase was mainly in America (20%) and Europe (17%). In Asia, a slight sales increase of 6% was recorded.
The Xeikon technology has several unique capabilities that provide a sustainable competitive advantage to its users. In 2010, Xeikon increased its R&D investments and released several new products for the industrial and document printing markets. The company's impressive 2010 results clearly demonstrate that Xeikon has further strengthened its position in the chosen target markets.
Cautionary statement regarding forward-looking statements
This press release contains certain forward-looking statements. Any forward-looking statement applies only on the date of this press release. Such statements are based on current expectations and convictions and, by their nature, are subject to a number of known and unknown risks and uncertainties as a result of which the actual results and performance may differ substantially from expected future results or performance expressed or implied in the forward-looking statements. The information and views contained in this press release may change without prior notice, and Punch Graphix nv has neither the intention nor the obligation to update forward-looking statements in this communication, except insofar as it is obliged to do so by any applicable legislation or by the rules of any stock exchange on which its shares may be traded.
About Punch Graphix
Punch Graphix provides innovative, competitive and environmentally friendly imaging and printing solutions for the global graphics industry. Under the Xeikon brand name, Punch Graphix designs, develops and delivers high-end digital colour printing systems, software and consumables for the commercial, document printing and industrial markets. Under the basysPrint brand and as an OEM supplier, Punch Graphix designs, develops and delivers mid to high-end imaging systems for offset prepress commercial and newspaper markets. With a clear-minded focus on R&D, Punch Graphix is solely dedicated to customer satisfaction and aims to deliver cost-effective graphic excellence that goes beyond all expectations. Punch Graphix is listed on Euronext Amsterdam by NYSE Euronext (PGX). Website: www.punchgraphix.com
About Xeikon
An innovator in digital printing, Xeikon designs, develops and delivers high-end digital color printing systems for the global industrial, document printing and commercial market segments. These systems are composed of advanced web-fed printing engines using LED-array-based, dry toner electrophotography, open workflow software, exclusive toner and other consumables. Xeikon's production and R&D operations are based in Belgium and its solutions are distributed and supported through a worldwide sales and service network. Xeikon is a division of Punch Graphix. For more information, visit www.xeikon.com.
Contact Information:
Erik Arvidson
Matter Communications for Xeikon
978-499-9250 x320
earvidson@matternow.com
www.matternow.com