InVision AG

Interim / Quarterly Report • Oct 19, 2017

Consolidated Interim Statements 9M 2017

of InVision AG as of 30 June 2017 in accordance with IFRS

Consolidated Interim Statements 9M 2017

Consolidated Interim Financial Statements

of InVision AG as of 30 September 2017

Consolidated Balance Sheet

Consolidated Statement of Comprehensive Income

Consolidated Cash Flow Statement

Consolidated Statement of Equity

Financial Summary

(in TEUR)	9M 2017	9M 2016	∆
Revenues	9,697	9,256	+5%
InVision WFM Subscriptions	6,016	5,965	+1%
injixo	2,392	2,020	+18%
The Call Center School	533	425	+25%
Projects	756	846	-11%
EBIT	947	2,555	-63%
as a % of revenues	10%	28%	-18 PP
Consolidated result	747	1,596	-53%
as a % of revenues	8%	17%	-9 PP
Operating cash flow	960	5,793	-83%
as a % of revenues	10%	63%	-53 PP
Earnings per share (in EUR)	0.33	0.71	-54%
(in TEUR)	30 Sep 2017	31 Dec 2016	∆
Balance sheet total	14,561	15,823	-8%
Liquid funds & securities	2,734	4,009	-32%
Equity	10,327	10,697	-3%
as a % of balance sheet total	71%	68%	+3 PP

Consolidated Balance Sheet

Assets	30 Sep 2017	31 Dec 2016
A. Short-term assets
1. Liquid funds	2,733,530	4,008,898
2. Trade receivables	1,585,793	1,415,467
3. Income tax claims	1,643	7,101
4. Prepaid expenses and other short-term assets	336,982	318,338
Total short-term assets	4,657,948	5,749,804
B. Long-term assets
1. Intangible assets	355,926	432,766
2. Tangible assets	9,457,848	9,465,530
3. Deferred taxes	73,008	153,902
4. Other long-term assets	16,495	21,289
Total long-term assets	9,903,277	10,073,487
Total assets	14,561,225	15,823,291
Equity and liabilities	30 Sep 2017	31 Dec 2016
A. Short-term liabilities
1. Trade payables	278,423	149,192
2. Provisions	129,622	169,003
3. Income tax liabilities	500	921,720
4. Short-term share of deferred income and other short-term liabilities	2,325,933	1,636,300
Total short-term liabilities	2,734,478	2,876,215
B. Long-term liabilities
Liabilities to financial institutions	1,500,000	2,250,000
Total long-term liabilities	1,500,000	2,250,000
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	-443,569	-373,208
4. Group/consolidated result	7,344,132	7,644,100
Total equity	10,326,747	10,697,076
Total equity and liabilities	14,561,225	15,823,291

Consolidated Statement of Comprehensive Income

	1 Jan - 30 Sep 2017	1 Jan - 30 Sep 2016
1. Revenues	9,697,424	9,256,030
2. Other operating income	33,502	401,380
3. Cost of materials/cost of goods and services purchased	-130,895	-216,386
4. Personnel expenses	-5,854,531	-4,429,823
5. Amortisation/depreciation of intangible and tangible assets	-377,118	-461,245
6. Other operating expenses	-2,421,311	-1,995,285
7. Operating result (EBIT)	947,071	2,554,671
8. Financial result	-22,566	-31,771
9. Currency losses/gains	-5,328	-23,239
10. Result before taxes (EBT)	919,177	2,499,661
11. Income tax	-101,645	-872,594
12. Consolidated net profit	817,532	1,627,067
13. Exchange rate difference from converting foreign financial statements	-70,361	-31,334
14. Consolidated result	747,171	1,595,733
Earnings per share	0.33	0.71

Consolidated Cash Flow Statement

	1 Jan - 30 Sep 2017	1 Jan - 30 Sep 2016
1. Cash flow from operating activities
Consolidated net loss/profit	817,532	1,627,067
+ Depreciation and amortisation of fixed assets	377,118	461,245
-/+ Profits/losses from the disposal of intangible and tangible assets	0	12,377
-/+ Decrease/increase in provisions	-39,381	660,471
+/- Decrease/increase in deferred taxes	80,894	167,121
-/+ Other non-cash income/expenses	4,706	-28,084
-/+ Increase/decrease in inventories and trade receivables	-170,326	1,844,435
-/+ Increase/decrease in other assets and prepaid expenses	-13,850	-12,228
+/- Decrease/increase in income tax claims/liabilities	-915,762	70,268
-/+ Decrease/increase in trade payables	129,231	86,753
+/- Increase/decrease in other liabilities and deferred income	689,632	903,263
Cash flow from operating activities	959,794	5,792,688
2. Cash flow from investing activities
- Payments made for investments in tangible fixed assets	-339,221	-929,989
- Payments made for investments in intangible assets	-765	-2,556
+ Payments received from disposal of securities	0	0
Cash flow from investing activities	-339,986	-932,545
3. Cash flow from financing activities
- Payments made for redemption of long-term financing liabilities	-750,000	-750,000
- Payments made to shareholders (dividend)	-1,117,500	0
Cash flow from financing activities	-1,867,500	-750,000
Change in cash and cash equivalents	-1,247,692	4,110,143
Effect of foreign exchange rate changes on cash and cash equivalents	-27,676	-16,130
Cash and cash equivalents at the beginning of the period	4,008,898	1,404,551
Cash and cash equivalents at the end of the period	2,733,530	5,498,564

Consolidated Statement of Equity

	Subscribed		Equity capital difference from currency
	capital	Reserves		translation Profit/Losses	Equity
31 December 2015	2,235,000	1,191,184	-366,655	5,316,246	8,375,775
Consolidated net profit	0	0	0	2,327,854	2,327,854
Exchange rate difference from converting foreign financial statements	0	0	-6,553	0	-6,553
Total of costs and income	0	0	-6,553	2,327,854	2,321,301
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	817,532	817,532
Exchange rate difference from converting foreign financial statements	0	0	-70,361	0	-70,361
Total of costs and income	0	0	-70,361	817,532	747,171
30 September 2017	2,235,000	1,191,184	-443,569	7,344,132	10,326,747