{"id":47568,"date":"2025-04-30T18:00:00","date_gmt":"2025-04-30T16:00:00","guid":{"rendered":"https:\/\/hybridsoftware.com\/?p=47568"},"modified":"2025-04-30T12:48:49","modified_gmt":"2025-04-30T10:48:49","slug":"hybrid-software-group-releases-q1-2025-results","status":"publish","type":"post","link":"https:\/\/hybridsoftware.com\/hybrid-software-group-releases-q1-2025-results\/","title":{"rendered":"Hybrid Software Group releases Q1 results"},"content":{"rendered":"\n<p><strong>Cambridge (UK) 30 April 2025 (18.00 CEST)<\/strong> \u2013 Hybrid Software Group PLC (Euronext: HYSG) provides a trading update for the three months ended 31 March 2025.<\/p>\n\n\n\n<p>CEO Mike Rottenborn comments, \u201cOur operating performance for the first quarter showed a mixed picture, with growth in our Printhead Solutions and Enterprise Software segments, but an expected decline in revenue from our Printing Software segment.<\/p>\n\n\n\n<p>Sales in the Printhead Solutions segment grew 9% year-over-year, continuing the recovery which began in 2023 after the component shortages of 2022 coupled with continued margin improvement, with adjusted operating profit advancing 74% compared to Q1 2024.<\/p>\n\n\n\n<p>The Enterprise Software segment increased revenues 2% from last year, with consistent sales in Europe and Asia-Pacific being largely offset by weaker sales in North America and a weaker US dollar.<\/p>\n\n\n\n<p>Revenue in the Printing Software can be erratic, as OEMs typically license our RIP technology for a period of three to five years. A multi-year licensing agreement was renewed in January 2024 which contributed significantly to last year\u2019s Q1 revenue, but no comparable contract was up for renewal in 2025, leading to a year-over-year decrease in revenue of 55% in the first quarter.<\/p>\n\n\n\n<p>On a consolidated basis, Q1 revenue decreased 20% to \u20ac12.14 million this year from \u20ac15.12 million last year. EBITDA decreased by 64% to \u20ac1.87 million from \u20ac5.25 million in Q1 2024.&nbsp; Our cash position increased by \u20ac2.0 million during Q1, with \u20ac11.5 million cash on hand at the end of the quarter.<\/p>\n\n\n\n<p>Market conditions remain challenging, but sales funnels are healthy across all our segments and our outlook for 2025 remains positive.\u201d<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Financial highlights for the three months ended 31 March 2025<\/strong><\/h2>\n\n\n\n<p>The following information is unaudited.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenue for the period was \u20ac12.14 million (2024: \u20ac15.12 million)<\/li>\n\n\n\n<li>EBITDA for the period was \u20ac1.87 million, or 15% of revenue (2024: \u20ac5.25 million, 35% of revenue)<\/li>\n\n\n\n<li>Operating result for the period was \u20ac0.15 million, or 1% of revenue (2024: \u20ac3.23 million, 21% of revenue)<\/li>\n\n\n\n<li>Adjusted operating result for the period was \u20ac0.92 million, or 8% of revenue (2024: \u20ac4.21 million, 28% of revenue)<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><strong><em>Segment analysis<\/em><\/strong><strong><\/strong><\/h2>\n\n\n\n<p>The following tables provide unaudited information about revenue from external customers, EBITDA, operating result and adjusted operating result for the Group&#8217;s operating segments for the current and previous financial years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>For the three months ended 31 March 2025:<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>In millions of euros <\/strong><em>(unaudited)<\/em><\/td><td><strong>Enterprise Software<\/strong><strong><\/strong><\/td><td><strong>Printhead Solutions<\/strong><strong><\/strong><\/td><td><strong>Printing Software<\/strong><strong><\/strong><\/td><td><strong>Group<\/strong><strong><\/strong><\/td><td><strong>Total<\/strong><strong><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td>Revenue from external customers<\/td><td>5.74<\/td><td>3.54<\/td><td>2.86<\/td><td>&#8211;<\/td><td><strong>12.14<\/strong><strong><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>&nbsp;<\/strong><\/td><\/tr><tr><td>Segment EBITDA<\/td><td>0.83<\/td><td>0.86<\/td><td>0.39<\/td><td>(0.21)<\/td><td><strong>1.87<\/strong><strong><\/strong><\/td><\/tr><tr><td><em>as a % of revenue<\/em><\/td><td><em>14%<\/em><em><\/em><\/td><td><em>24%<\/em><em><\/em><\/td><td><em>14%<\/em><em><\/em><\/td><td><em>&#8211;<\/em><em><\/em><\/td><td><strong><em>15%<\/em><\/strong><strong><em><\/em><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>&nbsp;<\/strong><\/td><\/tr><tr><td>Segment Operating result<\/td><td>0.57<\/td><td>0.74<\/td><td>0.01<\/td><td>(1.17)<\/td><td><strong>0.15<\/strong><strong><\/strong><\/td><\/tr><tr><td><em>as a % of revenue<\/em><\/td><td><em>10%<\/em><em><\/em><\/td><td><em>21%<\/em><em><\/em><\/td><td><em>0%<\/em><em><\/em><\/td><td><em>&#8211;<\/em><em><\/em><\/td><td><strong><em>1%<\/em><\/strong><strong><em><\/em><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>&nbsp;<\/strong><\/td><\/tr><tr><td>Segment Adjusted operating result<\/td><td>0.40<\/td><td>0.66<\/td><td>0.02<\/td><td>(0.16)<\/td><td><strong>0.92<\/strong><strong><\/strong><\/td><\/tr><tr><td><em>as a % of revenue<\/em><\/td><td><em>7%<\/em><em><\/em><\/td><td><em>19%<\/em><em><\/em><\/td><td><em>1%<\/em><em><\/em><\/td><td><em>&#8211;<\/em><em><\/em><\/td><td><strong><em>8%<\/em><\/strong><strong><em><\/em><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>For the three months ended 31 March 2024:<\/strong><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>In millions of euros <\/strong><em>(unaudited)<\/em><\/td><td><strong>Enterprise Software<\/strong><strong><\/strong><\/td><td><strong>Printhead Solutions<\/strong><strong><\/strong><\/td><td><strong>Printing Software<\/strong><strong><\/strong><\/td><td><strong>Group<\/strong><strong><\/strong><\/td><td><strong>Total<\/strong><strong><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><\/tr><tr><td>Revenue from external customers<\/td><td>5.61<\/td><td>3.24<\/td><td>6.27<\/td><td>&#8211;<\/td><td><strong>15.12<\/strong><strong><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>&nbsp;<\/strong><\/td><\/tr><tr><td>Segment EBITDA<\/td><td>1.21<\/td><td>0.58<\/td><td>3.63<\/td><td>(0.17)<\/td><td><strong>5.25<\/strong><strong><\/strong><\/td><\/tr><tr><td><em>as a % of revenue<\/em><\/td><td><em>22%<\/em><em><\/em><\/td><td><em>18%<\/em><em><\/em><\/td><td><em>58%<\/em><em><\/em><\/td><td><em>&#8211;<\/em><em><\/em><\/td><td><strong><em>35%<\/em><\/strong><strong><em><\/em><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>&nbsp;<\/strong><\/td><\/tr><tr><td>Segment Operating result<\/td><td>0.99<\/td><td>0.37<\/td><td>3.22<\/td><td>(1.35)<\/td><td><strong>3.23<\/strong><strong><\/strong><\/td><\/tr><tr><td><em>as a % of revenue<\/em><\/td><td><em>18%<\/em><em><\/em><\/td><td><em>11%<\/em><em><\/em><\/td><td><em>51%<\/em><em><\/em><\/td><td><em>&#8211;<\/em><em><\/em><\/td><td><strong><em>21%<\/em><\/strong><strong><em><\/em><\/strong><\/td><\/tr><tr><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td>&nbsp;<\/td><td><strong>&nbsp;<\/strong><\/td><\/tr><tr><td>Segment Adjusted operating result<\/td><td>0.75<\/td><td>0.38<\/td><td>3.24<\/td><td>(0.16)<\/td><td><strong>4.21<\/strong><strong><\/strong><\/td><\/tr><tr><td><em>as a % of revenue<\/em><\/td><td><em>14%<\/em><em><\/em><\/td><td><em>12%<\/em><em><\/em><\/td><td><em>52%<\/em><em><\/em><\/td><td><em>&#8211;<\/em><em><\/em><\/td><td><strong><em>28%<\/em><\/strong><strong><em><\/em><\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>For more information about the Group\u2019s operating segments, refer to the annual report for the year ended 31 December 2024, which is available from: <a href=\"https:\/\/www.hybridsoftware.group\/investors\/financial-reports\">https:\/\/www.hybridsoftware.group\/investors\/financial-reports<\/a>.<\/p>\n\n\n\n<p>EBITDA is calculated by adding back interest, tax, depreciation and amortisation to net profit.<\/p>\n\n\n\n<p>Adjusted operating result is calculated starting from IFRS reported operating (loss)\/profit from continuing operations and deducting other expenses and capitalised development expenses, and adding back other income, amortisation of acquired intangibles and capitalised development expenses and other non-recurring items in nature.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>About Hybrid Software Group<\/strong><\/h2>\n\n\n\n<p>Through its operating subsidiaries, <a href=\"https:\/\/www.hybridsoftware.group\/\">Hybrid Software Group PLC<\/a> (Euronext:<a href=\"https:\/\/live.euronext.com\/en\/product\/equities\/GB00BYN5BY03-XBRU\"> HYSG<\/a>)&nbsp;is a leading developer of software and electronics for labels &amp; packaging and industrial print manufacturing. Customers include press manufacturers such as HP, Canon, Durst, Roland, and hundreds of packaging printers, trade shops, and converters worldwide.<\/p>\n\n\n\n<p>Hybrid Software Group PLC is headquartered in Cambridge UK. Its subsidiary companies are colour technology experts <a href=\"https:\/\/www.colorlogic.de\/\">ColorLogic<\/a>, printing software developers <a href=\"https:\/\/www.globalgraphics.com\">Global Graphics Software<\/a>, enterprise software developer <a href=\"https:\/\/www.hybridsoftware.com\/\">HYBRID Software<\/a>, 3D design and modelling software developers <a href=\"https:\/\/www.creativeedgesoftware.com\/ic3d\/\">iC3D<\/a>, the industrial printhead driver solutions specialists <a href=\"https:\/\/www.meteorinkjet.com\/\">Meteor Inkjet<\/a>, and pre-press workflow developer <a href=\"https:\/\/www.xitron.com\/\">Xitron<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Contacts<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Floris De Ruyck<\/strong><\/td><td><strong>Joachim Van Hemelen<\/strong><\/td><\/tr><tr><td>Legal Counsel &amp; Investor Relations Officer<\/td><td>Chief Financial Officer<\/td><\/tr><tr><td>Tel: +32 (0) 9 329 57 53<\/td><td>Tel: +32 (0) 9 329 57 53<\/td><\/tr><tr><td>Email: <a href=\"mailto:florisdr@hybridsoftware.group\">florisdr@hybridsoftware.group<\/a><\/td><td>Email: <a href=\"mailto:joachimvh@hybridsoftware.group\">joachimvh@hybridsoftware.group<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Cambridge (UK) 30 April 2025 (18.00 CEST) \u2013 Hybrid Software Group PLC (Euronext: HYSG) provides a trading update for the three months ended 31 March 2025. CEO Mike Rottenborn comments, \u201cOur operating performance for the first quarter showed a mixed picture, with growth in our Printhead Solutions and Enterprise Software segments, but an expected decline [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[241,273],"tags":[],"challenge":[],"hybrid-product":[],"market":[],"service":[],"class_list":["post-47568","post","type-post","status-publish","format-standard","hentry","category-financial","category-regulatory"],"acf":[],"_links":{"self":[{"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/posts\/47568","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/comments?post=47568"}],"version-history":[{"count":1,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/posts\/47568\/revisions"}],"predecessor-version":[{"id":47572,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/posts\/47568\/revisions\/47572"}],"wp:attachment":[{"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/media?parent=47568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/categories?post=47568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/tags?post=47568"},{"taxonomy":"challenge","embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/challenge?post=47568"},{"taxonomy":"hybrid-product","embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/hybrid-product?post=47568"},{"taxonomy":"market","embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/market?post=47568"},{"taxonomy":"service","embeddable":true,"href":"https:\/\/hybridsoftware.com\/wp-json\/wp\/v2\/service?post=47568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}