InVision AG

Quarterly Report • May 7, 2020

Consolidated Interim Statements 3M 2020

Consolidated Interim Financial Statements

of InVision AG as of 31 March 2020

Consolidated Balance Sheet

Consolidated Statement of Comprehensive Income

Consolidated Cash Flow Statement

Consolidated Statement of Equity

Financial Summary

(in TEUR)	3M 2020	3M 2019	∆*
Revenues	3,114	3,228	-4%
thereof Workforce Management	2,998	3,123	-4%
thereof Education	116	105	+10%
EBIT	239	185	+29%
as a % of revenues	8%	6%	+2 PP
Consolidated result	33	101	-67%
as a % of revenues	1%	3%	-2 PP
Operating cash flow	1,747	2,923	-40%
as a % of revenues	56%	91%	-35 PP
Earnings per share (in EUR)	0.01	0.05	-68%

(in TEUR)	31 March 2020	31 Dec 2019	∆*
Balance sheet total	26,006	18,214	+43%
Liquid funds	9,290	2,616	+255%
Equity	13,158	13,125	+0%
as a % of balance sheet total	51%	72%	-21 PP

* The calculation of deviations from the previous year is based on non-rounded figures.

Consolidated Balance Sheet

Assets	31 March 2020	31 Dec 2019
A. Short-term assets
1. Liquid funds	9,290,073	2,615,707
2. Trade receivables	2,540,578	1,159,134
3. Income tax claims	43,509	43,509
4. Prepaid expenses and other short-term assets	189,739	135,667
Total short-term assets	12,063,899	3,954,017
B. Long-term assets
1. Intangible assets	292,134	297,736
2. Tangible assets	8,842,704	8,937,009
3. Right-of-use assets	1,476,481	1,521,953
4. Deferred taxes	3,309,143	3,481,172
5. Other long-term assets	21,923	21,656
Total long-term assets	13,942,385	14,259,526
Total assets	26,006,284	18,213,543

Equity and liabilities	31 March 2020	31 Dec 2019
A. Short-term liabilities
1. Liabilities due to credit institutions	720,000	480,000
2. Leasing liabilities	177,597	176,552
3. Trade payables	206,168	161,870
4. Provisions	140,912	239,392
5. Income tax liabilities	828,020	1,202,487
6. Customer contract liabilities and other liabilities	4,090,799	858,559
Total short-term liabilities	6,163,496	3,118,860
B. Long-term liabilities
1. Liabilities due to credit institutions	5,280,000	520,000
2. Leasing liabilities	1,404,360	1,449,308
Total long-term liabilities	6,684,360	1,969,308
C. Equity
1. Subscribed capital	2,235,000	2,235,000
2. Reserves	1,191,184	1,191,184
3. Equity capital difference from currency translation	-402,429	-402,921
4. Group/consolidated result	10,134,673	10,102,112
Total equity	13,158,428	13,125,375
Total equity and liabilities	26,006,284	18,213,543

Consolidated Statement of Comprehensive Income

	1 Jan - 31 Mar 2020	1 Jan - 31 Mar 2019
1. Revenues	3,113,607	3,227,758
2. Other operating income	22,640	49,585
3. Personnel expenses	-2,104,285	-2,053,569
4. Amortisation/depreciation of intangible and tangible assets	-169,120	-217,655
5. Other operating expenses	-624,337	-821,054
6. Operating result (EBIT)	238,505	185,065
7. Financial result	-26,900	-28,588
8. Currency losses/gains	-4,097	-1,987
9. Result before taxes (EBT)	207,508	154,490
10. Income tax	-174,947	-64,210
11. Consolidated net profit/loss	32,561	90,280
12. Exchange rate differences from converting foreign financial statements	492	10,855
13. Consolidated result	33,053	101,135
Earnings per share	0.01	0.05

Consolidated Cash Flow Statement

	1 Jan - 31 Mar 2020	1 Jan - 31 Mar 2019
1. Cash flow from operating activities
Consolidated net profit/loss	32,561	90,280
+ Depreciation and amortisation of fixed assets	169,120	217,655
-/+ Profits/losses from the disposal of intangible and tangible assets	0	-10,148
-/+ Decrease/increase in provisions	-98,480	-12,307
-/+ Increase/decrease in deferred taxes	172,029	4,914
-/+ Other non-cash income/expenses	5,353	-6,953
-/+ Increase/decrease in trade receivables	-1,381,444	-864,916
-/+ Increase/decrease in other assets and prepaid expenses	-54,340	-122,473
+/- Decrease/increase in income tax claims/liabilities	-374,467	110,807
-/+ Decrease/increase in trade payables	44,298	-64,362
-/+ Decrease/increase in other liabilities and deferred income	3,232,241	3,580,360
Cash flow from operating activities	1,746,871	2,922,857

	1 Jan - 31 Mar 2020	1 Jan - 31 Mar 2019
2. Cash flow from investing activities
- Payments made for investments in tangible assets	-18,323	-113,435
+ Payments received from the disposal of intangible and tangible assets	0	10,148
Cash flow from investing activities	-18,323	-103,286
3. Cash flow from financing activities
+ Additions to long-term financing liabilities	5,000,000	1,000,000
- Payments made for redemption of lease liabilities	-43,903	-42,900
Cash flow from financing activities	4,956,097	957,100
Change in cash and cash equivalents	6,684,645	3,776,671
Effect of foreign exchange rate changes on cash and cash equivalents	-10,279	10,097
Cash and cash equivalents at the beginning of the period	2,615,707	670,454
Cash and cash equivalents at the end of the period	9,290,073	4,457,222

Consolidated Statement of Equity

	Subscribed capital	Reserves	Equity capital difference from currency translation	Profit/Losses	Equity
31 December 2018	2,235,000	1,191,184	-419,289	7,173,036	10,179,931
Adjustment from the first time application of IFRS 16	0	0	0	-66,044	-66,044
01 January 2019	2,235,000	1,191,184	-419,289	7,106,992	10,113,887
Consolidated net profit	0	0	0	2,995,120	2,995,120
Exchange rate difference from converting foreign financial statements	0	0	16,368	0	16,368
Total of costs and income	0	0	16,368	2,995,120	3,011,488
30 December 2019	2,235,000	1,191,184	-402,921	10,102,112	13,125,375
Consolidated net profit	0	0	0	32,561	32,561
Exchange rate difference from converting foreign financial statements	0	0	492	0	492
Total of costs and income	0	0	492	32,561	33,053
31 March 2020	2,235,000	1,191,184	-402,429	10,134,673	13,158,428