Financial Report 6M 2018

Consolidated Interim Financial Statements

of InVision AG as of 30 June 2018 in accordance with IFRS and § 315e of the German Commercial Code as well as the Group management report pursuant to § 315 of the German Commercial Code (condensed/unaudited)

Consolidated Balance Sheet Consolidated Statement of Comprehensive Income Consolidated Cash Flow Statement Consolidated Statement of Equity Consolidated Notes Interim Group Management Report

Financial Summary

(in TEUR)	6M 2018	6M 2017	∆
Revenues	6,342	6,613	-4%
WFM Subscriptions	5,813	5,616	+4%
- thereof InVision WFM	4,002	4,028	-1%
- thereof injixo	1,811	1,588	+14%
The Call Center School	243	407	-40%
Other Revenues	286	590	-52%
- thereof WFM Licences	242	520	-53%
- thereof Project Services	44	70	-37%
EBIT	47	762	-94%
as a % of revenues	1%	12%	-11 PP
Consolidated result	-27	638	-104%
as a % of revenues	0%	10%	-10 PP
Operating cash ow	1,699	1,655	+3%
as a % of revenues	27%	25%	-2 PP
Earnings per share (in EUR)	-0.01	0.29	-104%

(in TEUR)	30 June 2018	31 Dec 2017	∆
(in TEUR)	30 June 2018	31 Dec 2017	∆
Balance sheet total	14,819	13,683	+8%
Liquid funds	3,326	2,210	+50%
Equity	10,353	10,380	0%
as a % of balance sheet total	70%	76%	-6 PP

Consolidated Balance Sheet

InVision AG, 30 June 2018

IFRS, in Euro (condensed/unaudited)

30 June 2018	31 Dec 2017

3,325,656	2,209,999
1,284,989	1,268,972
212,071	45,536
189,989	196,242
5,012,705	3,720,749

350,066	338,374
9,410,479	9,568,754
29,484	39,312
16,324	16,043
9,806,353	9,962,483
14,819,058	13,683,232

Equity and liabilities	30 June 2018	31 Dec 2017
A. Short-term liabilities
1. Trade payables	159,637	170,012
2. Provisions	182,940	256,266
3. Income tax liabilities	227,185	406,150
4. Short-term share of deferred income and other short-term liabilities	2,896,587	971,259
Total short-term liabilities	3,466,349	1,803,687
B. Long-term liabilities
Liabilities to nancial institutions	1,000,000	1,500,000
Total long-term liabilities	1,000,000	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 dierence from currency translation	-441,852	-457,684
4. Group/consolidated result	7,368,377	7,411,045
Total equity	10,352,709	10,379,545
Total equity and liabilities	14,819,058	13,683,232

Consolidated Statement of Comprehensive Income

InVision AG, 30 June 2018 IFRS, in Euro (condensed/unaudited)

	6M 2018	6M 2017
Revenues	6,341,569	6,612,921
Other operating income	55,804	29,348
Cost of materials	-47,438	-116,004
Personnel expenses	-4,343,626	-3,876,988
Amortisation/depreciation of intangible and tangible assets	-271,769	-257,512
Other operating expenses	-1,687,939	-1,629,685
Operating result (EBIT)	46,601	762,080
Financial result	-4,352	-15,321
Currency losses/gains	2,566	-515
Result before taxes (EBT)	44,815	746,244
Income tax	-87,483	-61,177
Consolidated net prot	-42,668	685,067
Exchange rate dierences from converting foreign nancial statements	15,832	-47,252
Consolidated result	-26,836	637,815
Earnings per share	-0.01	0.29

Consolidated Cash Flow Statement

InVision AG, 30 June 2018 IFRS, in Euro (condensed/unaudited)

	6M 2018	6M 2017
1. Cash ow from operating activities
Consolidated net loss/prot	-42,668	685,067
+ Depreciation and amortisation of xed assets	271,769	257,512
-/+ Prots/losses from the disposal of intangible and tangible assets	-13,500	0
-/+ Decrease/increase in provisions	-73,326	-67,517
+/- Decrease/increase in deferred taxes	9,828	40,623
-/+ Other non-cash income/expenses	-12,298	-24,964
+/- Decrease/increase in trade receivables and contract manufacturing	-16,017	187,444
+/- Decrease/increase in other assets and prepaid expenses	5,972	23,455
+/- Decrease/increase in income tax claims/tax liabilities	-345,500	-692,853
-/+ Decrease/increase in trade payables	-10,375	-27,048
-/+ Decrease/increase in other liabilities and deferred income	1,925,328	1,272,995
Cash ow from operating activities	1,699,213	1,654,714
2. Cash ow from investing activities
- Payments made for investments in tangible xed assets	-91,325	-114,506
- Payments made for investments in intangible assets	-24,832	-765
+ Payments received from the disposal of intangible and tangible assets	13,500	0
Cash ow from investing activities	-102,657	-115,271
3. Cash ow from nancing activities
-/+Repayment of/Additions to long-term nancing liabilities	-500,000	-500,000
- Dividends paid	0	-1,117,500
Cash ow from nancing activities	-500,000	-1,617,500
Change in cash and cash equivalents	1,096,556	-78,057
Eect of foreign exchange rate changes on cash and cash equivalents	19,101	-18,870
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	3,325,656	3,911,971

Consolidated Statement of Equity

InVision AG, 30 June 2018

IFRS, in Euro (condensed/unaudited)

	Subscribed capital	Reserves	Equity capital dierence from currency translation	Prot/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 prot	0	0	0	884,445	884,445
Exchange rate dierence from converting foreign nancial 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 prot	0	0	0	-42,668	-42,668
Exchange rate dierence from converting foreign nancial statements	0	0	15,832	0	15,832
Total of costs and income	0	0	15,832	-42,668	-26,836
30 June 2018	2,235,000	1,191,184	-441,852	7,368,377	10,352,709

Consolidated Notes

to the Consolidated Interim Financial Statements of InVision AG as of 30 June 2018 (condensed/unaudited)

General Information

General information about the Company

InVision Aktiengesellschaft, Düsseldorf (hereinafter also referred to as "InVision AG" or the "Company"), together with its subsidiaries (hereinafter also referred to as the "InVision Group" or the "Group"), develops and markets products and services for optimising workforce management, increasing the productivity, improving the quality of work, and reducing costs, and is mainly active in Europe and the United States.

The Company's registered oces are located at Speditionstraße 5, 40221 Düsseldorf, Germany. It is recorded in the Commercial Register of the Local Court of Düsseldorf under registration number HRB 44338. InVision AG has been listed in the prime standard segment of the Frankfurt Stock Exchange under securities identication number 585969 since 18 June 2007.

Basis of the accounting

The condensed consolidated interim nancial report for the reporting period was prepared in accordance with IAS 34 "Interim Financial Reporting". The condensed consolidated interim nancial report does not contain all explanations and information that are required for the nancial statements of the full scal year and should be read in conjunction with the consolidated nancial statements as of 31 December of the previous scal year.

Group of consolidated companies

The group of consolidated companies has not changed since 31 December of the previous scal year.

Treasury shares

The Company has no treasury shares.

Revenues

Revenues are categorised as follows:

By Business Activities (in TEUR)	6M 2018	6M 2017
WFM Abonnements	5,813	5,616
- thereof InVision WFM	4,002	4,028
- therof injixo	1,811	1,588
The Call Center School	243	407
Other Revenues	286	590
- thereof WFM Licences	242	520
- thereof Project Services	44	70
Total	6,342	6,613

Events after the balance sheet closing date

After the end of the reporting period, there were no specic events which were of signicant importance for the interim nancial report.

Executive Board

The Executive Board is composed of the following members:

Peter Bollenbeck (Chairman), Düsseldorf
Armand Zohari, Bochum (until 30 June 2018)

Earnings per share

Earnings per share were calculated by dividing the periodic result, which is attributable to InVision AG's shareholders, by the average weighted number of shares issued and outstanding during the reporting period. InVision AG has issued only ordinary shares. In the rst six months of 2018, there was an average of 2,235,000 shares issued and outstanding. Therefore, earnings per share for this period were EUR -0.01, compared to EUR 0.29 in the previous year, based on 2,235,000 shares issued.

Responsibility statement by the Executive Board

To the best of our knowledge and in accordance with the applicable reporting principles for nancial reporting, the consolidated interim nancial statements give a true and fair view of the Group's assets, liabilities, nancial position and results of operation, and the interim Group's management report includes a fair review of the development and performance of the business, together with a description of the principal opportunities and risks related to the anticipated development of the Group for the remainder of the scal year.

Düsseldorf, 19 July 2018

The Executive Board

Peter Bollenbeck

Interim Group Management Report

of InVision AG as of 30 June 2018 pursuant to §315 of the German Commercial Code (condensed/unaudited)

Results of operation

Consolidated revenues equalled TEUR 6,342 (previous year: TEUR 6,613) during the reporting period and therefore decreased by 4 percent. Revenues from WFM subscriptions increased by 4 percent and were at TEUR 5,813 (previous year: TEUR 5,616). Revenues from InVision WFM decreased by 1 percent to TEUR 4,002 (pervious year: TEUR 4,028) whereas revenues from injixo increased by 14 percent to TEUR 1,811 (previous year: TEUR 1,588). Revenues from The Call Center School decreased by 40 percent to TEUR 243 (previous year: TEUR 407). Other revenues decreased by 52 percent to TEUR 286 (previous year: TEUR 590). Revenues from WFM Licences decreased by 53 percent to TEUR 242 (previous year: TEUR 520) whereas revenues from Project Services decreased by 37 percent to TEUR 44 (previous year: TEUR 70).

Other operating income was at TEUR 56 (previous year: TEUR 29).

The operating result (EBIT) decreased in the reporting period to TEUR 47 (previous year: TEUR 762). The EBIT margin in the reporting period was 1 percent (previous year: 12 percent).

In the reporting period, consolidated net loss equalled TEUR -27 (previous year: prot TEUR 638). Earnings per share were EUR -0.01 (previous year: EUR 0.29), based on an average of 2,235,000 shares (previous year: 2,235,000 shares).

Net assets and nancial position

Cash ow from operating activities reached TEUR 1,699 in the reporting period (previous year: TEUR 1,655), which corresponds to a share of 27 percent of the Group revenues (previous year: 25 percent).

As of the end of the reporting period, liquid funds (cash) decreased to TEUR 3,326 (31 December 2017: TEUR 2,210).

The balance sheet total equalled TEUR 14,819 (31 December 2017: TEUR 13,683), as of the end of the reporting period. Equity capital is now at TEUR 10,353 (31 December 2017: TEUR 10,380), and the equity ratio equals 70 percent (31 December 2017: 76 percent).

Opportunities & risks

Reasonable opportunities for the business development of the InVision Group are described in the forecast report of this interim Group management report and in the Group management report of the previous scal year. The risks are described in the Group management report for the previous scal year.

Supplement report