Hybrid acquisition doubles Global Graphics’ revenue
Published: 2 August 2021 | No comments yet
Global Graphics completed the acquisition of Hybrid Software following the passing of a shareholder resolution at a general meeting held on 8 January.
Global Graphics has announced that its acquisition of Hybrid Software, completed earlier this year, has effectively doubled its headcount and revenue.
In its half year report, published last week, the company reported that its unaudited revenue from continuing operations for the period was up 99.7% to €23.77 million, compared with €11.90 million for the same period in 2020 and that EBITDA increased 48.6% to €5.81 million, up from €3.91 million in 2020.
‘GlobalGraphics started 2021 with the acquisition of Hybrid Software, a strategic technology partner which effectively doubled our headcount and revenue,’ commented CEO Mike Rottenborn. ‘It brings extensive expertise in labels and packaging, a worldwide sales and technical organisation, a growing recurring revenue component, and most importantly, a very profitable end-user sales presence to the group. Revenues from Hybrid for the first half of 2021 were €10.4 million, an increase of more than 30% from 2020, with EBITDA at 35% of revenue.
‘Our results set us on the right path for future growth and I anticipate the remainder of 2021 to show a strong performance also.’
Global Graphics chairman Guido Van der Schueren added, ‘These results underline how Hybrid Software and Global Graphics together are a winning combination. Hybrid Software has immediately contributed to the group’s results and cash position, and I have been delighted with the smooth integration of the businesses following the completion of the acquisition.
‘Together we occupy a unique position in the industry as provider of hardware and software components to OEM and end user customers required to drive digital printing equipment. We have many customers in common who are excited about the opportunities presented by a broader range of innovative solutions. These are encouraging signals for future growth and value for shareholders.’