Reporting on its Q3 results and a trading update for the nine months to 30 September, CEO Mike Rottenborn said that revenues at its Printhead Solutions wing had recovered after a severe downturn in the first half caused by the global shortage of electronic components.

He described the performance at its Enterprise Software and Printing Software operations as “consistent”.

The Q3 results were “favourably impacted” by the sale of what was described as an "unused asset" comprising around 69,000 IPv4 internet addresses, which are used to connect devices to the web. There is a finite pool of IPv4 numbers. 

Hybrid Software sold the addresses for €3.3m (£2.9m). This boosted EBITDA which would have been lower than the prior year otherwise. 

The prices for IPv4 addresses have reached record levels this year. 

“Group EBITDA was significantly up in Q3 thanks to better operational performance across the board and the sale of the IPv4 internet addresses. EBITDA for the quarter was €4.58m compared to €1.61m for Q3 2021,” Rottenborn said. 

“Credit is due to the entire team for rising to the challenge of these difficult business conditions, and our smaller businesses which focus on colour management, 3-D visualisation, and legacy printing devices deserve special mention for outperforming their revenue and cost targets.”

Revenue in Q3 was €11.29m, up nearly 12% on the prior year. 

For the first nine months of the year, sales rose 2.5% to €34.73m, with EBITDA of €9.2m (2021: €7.42m).

The group is made up of Hybrid Software, Global Graphics, Color Logic, Xitron, Meteor and iC3D.

The former Global Graphics business changed its name to Hybrid Software Group a year ago.