InVision AG

Quarterly Report • Oct 30, 2018

Consolidated Interim Statements 9M 2018

Consolidated Interim Financial Statements

of InVision AG as of 30 September 2018

Consolidated Balance Sheet

Consolidated Statement of Comprehensive Income

Consolidated Cash Flow Statement

Consolidated Statement of Equity

Financial Summary

(in TEUR)	9M 2018	9M 2017	∆
Revenues	9,590	9,697	-1%
WFM Subscriptions	8,760	8,408	+4%
- thereof InVision WFM	6,010	6,016	+/-0%
- thereof injixo	2,750	2,392	+15%
The Call Center School	345	533	-35%
Other Revenues	485 756		-36%
- thereof WFM Licences	419	686	-39%
- thereof Project Services	66	70	-6%
EBIT	216	947	-77%
as a % of revenues	2%	10%	-8 PP
Consolidated result	95	747	-87%
as a % of revenues	1% 8%		-7 PP
Operating cash flow	622 960		-35%
as a % of revenues	6%	10%	-4 PP
Earnings per share (in EUR)	0.04	0.33	-88%

(in TEUR)	30 Sep 2018	31 Dec 2017	∆
Balance sheet total	13,412	13,683	-2%
Liquid funds	1,923	2,210	-13%
Equity	10,474	10,380	+1%
as a % of balance sheet total	78%	76%	+2 PP

Consolidated Balance Sheet

InVision AG, 31 December 2018 IFRS, in Euro

Assets	30 Sep 2018	31 Dec 2017
A. Short-term assets
1. Liquid funds	1,922,646	2,209,999
2. Trade receivables	1,336,244	1,268,972
3. Income tax claims	211,431	45,536
4. Prepaid expenses and other short-term assets	192,910	196,242
Total short-term assets	3,663,231	3,720,749
B. Long-term assets
1. Intangible assets	341,359	338,374
2. Tangible assets	9,366,441	9,568,754
3. Deferred taxes	24,570	39,312
4. Other long-term assets	16,324	16,043
Total long-term assets	9,748,694	9,962,483
Total assets	13,411,925	13,683,232

Equity and liabilities	30 Sep 2018	31 Dec 2017
A. Short-term liabilities
1. Trade payables	259,038	170,012
2. Provisions	190,131	256,266
3. Income tax liabilities	500	406,150
4. Short-term share of deferred income and other short-term liabilities	1,738,154	971,259
Total short-term liabilities	2,187,823	1,803,687
B. Long-term liabilities
Liabilities to financial institutions	750,000	1,500,000
Total long-term liabilities	750,000	1,500,000
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	-428,835	-457,684
4. Group/consolidated result	7,476,753	7,411,045
Total equity	10,474,102	10,379,545
Total equity and liabilities	13,411,925	13,683,232

Consolidated Statement of Comprehensive Income

InVision AG, 30 September 2018 IFRS, in Euro

	1 Jan - 30 Sep 2018	1 Jan - 30 Sep 2017
1. Revenues	9,589,775	9,697,424
2. Other operating income	71,576	33,502
3. Cost of materials/cost of goods and services purchased	-115,769	-130,895
4. Personnel expenses	-6,429,640	-5,854,531
5. Amortisation/depreciation of intangible and tangible assets	-405,912	-377,118
6. Other operating expenses	-2,494,037	-2,421,311
7. Operating result (EBIT)	215,993	947,071
8. Financial result	-7,827	-22,566
9. Currency losses/gains	-1,471	-5,328
10. Result before taxes (EBT)	206,695	919,177
11. Income tax	-140,987	-101,645
12. Consolidated net profit	65,708	817,532
13. Exchange rate difference from converting foreign financial statements	28,849	-70,361
14. Consolidated result	94,557	747,171
Earnings per share	0.04	0.33

Consolidated Cash Flow Statement

InVision AG, 30 September 2018 IFRS, in Euro

	1 Jan - 30 Sep 2018	1 Jan - 30 Sep 2017
1. Cash flow from operating activities
Consolidated net loss/profit	65,708	817,532
+ Depreciation and amortisation of fixed assets	405,912	377,118
-/+ Profits/losses from the disposal of intangible and tangible assets	-13,500	0
-/+ Decrease/increase in provisions	-66,135	-39,381
+/- Decrease/increase in deferred taxes	14,742	80,894
-/+ Other non-cash income/expenses	-4,759	4,706
-/+ Increase/decrease in inventories and trade receivables	-67,272	-170,326
-/+ Increase/decrease in other assets and prepaid expenses	3,051	-13,850
+/- Decrease/increase in income tax claims/liabilities	-571,545	-915,762
-/+ Decrease/increase in trade payables	89,026	129,231
+/- Increase/decrease in other liabilities and deferred income	766,895	689,632
Cash flow from operating activities	622,123	959,794

2. Cash flow from investing activities	1 Jan - 30 Sep 2018	1 Jan - 30 Sep 2017
- Payments made for investments in tangible fixed assets	-171,365	-339,221
- Payments made for investments in intangible assets	-24,832	-765
+ Payments received from the disposal of intangible and tangible assets	13,500	0
Cash flow from investing activities	-182,697	-339,986
3. Cash flow from financing activities
- Payments made for redemption of long-term financing liabilities	-750,000	-750,000
- Payments made to shareholders (dividend)	0	-1,117,500
Cash flow from financing activities	-750,000	-1,867,500
Change in cash and cash equivalents	-310,574	-1,247,692
Effect of foreign exchange rate changes on cash and cash equivalents	23,221	-27,676
Cash and cash equivalents at the beginning of the period	2,209,999	4,008,898
Cash and cash equivalents at the end of the period	1,922,646	2,733,530

Consolidated Statement of Equity

InVision AG, 30 September 2018 IFRS, in Euro

	Subscribed capital	Reserves	Equity capital difference from currency translation	Profit/Losses	Equity
31 December 2016	2,235,000	1,191,184	-373,208	7,644,100	10,697,076
Dividend payment	0	0	0	-1,117,500	-1,117,500
	2,235,000	1,191,184	-373,208	6,526,600	9,579,576
Consolidated net profit	0	0	0	884,445	884,445
Exchange rate difference from converting foreign financial statements	0	0	-84,476	0	-84,476
Total of costs and income	0	0	-84,476	884,445	799,969
31 December 2017	2,235,000	1,191,184	-457,684	7,411,045	10,379,545
Consolidated net profit	0	0	0	65,708	65,708
Exchange rate difference from converting foreign financial statements	0	0	28,849	0	28,849
Total of costs and income	0	0	28,849	65,708	94,557
30 September 2018	2,235,000	1,191,184	-428,835	7,476,753	10,474,102