Consolidated Interim Statements 3M 2017

Consolidated Interim Financial Statements

of InVision AG as of 31 March 2017

Consolidated Balance Sheet

Consolidated Statement of Comprehensive Income

Consolidated Cash Flow Statement

Consolidated Statement of Equity

(in TEUR)	3M 2017	3M 2016	∆
Revenues	3,460	3,120	+11%
InVision WFM Subscriptions	1,996	2,017	-1%
injixo	788	646	+22%
The Call Center School	220	144	+53%
Projects	456	313	+46%
EBIT	576	782	-26%
as a % of revenues	17%	25%	-8 PP
Consolidated result	524	663	-21%
as a % of revenues	15%	21%	-6 PP
Operating cash flow	1,459	4,233	-66%
as a % of revenues	42%	136%	-94 PP
Earnings per share (in EUR)	0.23	0.30	-23%
(in TEUR)	31 March 2017	31 Dec 2016	∆
Balance sheet total	18,463	15,823	+17%
Liquid funds & securities	5,122	4,009	+28%
Equity	11,221	10,697	+5%
as a % of balance sheet total	61%	68%	-7 PP

Assets	31 Mar 2017	31 Dec 2016
A. Short-term assets
1. Liquid funds	5,122,417	4,008,898
2. Trade receivables	2,944,833	1,415,467
3. Income tax claims	7,101	7,101
4. Prepaid expenses and other short-term assets	374,026	318,338
Total short-term assets	8,448,377	5,749,804
B. Long-term assets
1. Intangible assets	416,250	432,766
2. Tangible assets	9,443,725	9,465,530
3. Deferred taxes	136,911	153,902
4. Other long-term assets	17,568	21,289
Total long-term assets	10,014,454	10,073,487
Total assets	18,462,831	15,823,291
Equity and liabilities	31 Mar 2017	31 Dec 2016
A. Short-term liabilities
1. Trade payables	239,952	149,192
2. Provisions	122,917	169,003
3. Income tax liabilities	230,500	921,720
4. Short-term share of deferred income and other short-term liabilities	4,648,277	1,363,300
Total short-term liabilities	5,241,646	2,876,215
B. Long-term liabilities
Liabilities to financial institutions	2,000,000	2,250,000
Total long-term liabilities	2,000,000	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	-378,661	-373,208
4. Group/consolidated result	8,173,662	7,644,100
Total equity	11,221,185	10,697,076
Total equity and liabilities	18,462,831	15,823,291

	1 Jan - 31 Mar 2017	1 Jan - 31 Mar 2016
1. Revenues	3,460,463	3,120,206
2. Other operating income	19,929	56,395
3. Cost of materials/cost of goods and services purchased	-79,554	-115,362
4. Personnel expenses	-1,865,676	-1,454,374
5. Amortisation/depreciation of intangible and tangible assets	-127,415	-150,774
6. Other operating expenses	-831,810	-673,975
7. Operating result (EBIT)	575,937	782,116
8. Financial result	-8,177	-11,325
9. Currency losses/gains	-653	-10,361
10. Result before taxes (EBT)	567,107	760,430
11. Income tax	-37,545	-70,616
12. Consolidated net profit	529,562	689,814
13. Exchange rate differences from converting foreign financial statements	-5,453	-27,108
14. Consolidated result	524,109	662,706
Earnings per share	0.23	0.30

	1 Jan - 31 Mar 2017	1 Jan - 31 Mar 2016
1. Cash flow from operating activities
Consolidated net loss/profit	529,562	689,814
+ Depreciation and amortisation of fixed assets	127,415	150,774
-/+ Decrease/increase in provisions	-46,086	-91,630
+/- Decrease/increase in deferred taxes	16,991	70,616
-/+ Other non-cash income/expenses	920	-5,924
-/+ Increase/decrease in inventories and trade receivables	-1,529,366	668,190
-/+ Increase/decrease in other assets and prepaid expenses	-51,967	-29,952
+/- Decrease/increase in income tax claims/liabilities	-691,220	5,426
-/+ Increase/decrease in trade payables	90,760	273,960
+/- Decrease/increase in other liabilities and deferred income	3,011,977	2,501,694
Cash flow from operating activities	1,458,986	4,232,968
2. Cash flow from investing activities
- Payments made for investments in tangible fixed assets	-92,392	-224,931
- Payments made for investments in intangible assets	0	-1,400
Cash flow from investing activities	-92,392	-226,331
3. Cash flow from financing activities
- Payments made for redemption of long-term financing liabilities	-250,000	-250,000
Cash flow from financing activities	-250,000	-250,000
Change in cash and cash equivalents	1,116,594	3,756,637
Effect of foreign exchange rate changes on cash and cash equivalents	-3,075	-11,861
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	5,122,417	5,149,327

		Equity capital difference
	Subscribed	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
Consolidated net profit	0	0	0	529,562	529,562
Exchange rate difference from converting foreign financial statements	0	0	-5,453	0	-5,453
Total of costs and income	0	0	-5,453	529,562	524,109
31 March 2017	2,235,000	1,191,184	-378,661	8,173,662	11,221,186