Viscom AG — Earnings Release 2008

Aug 13, 2008

News Details

Corporate | 13 August 2008 07:30

Viscom AG: Pleasing growth with convincing figures

Viscom AG / Half Year Results

Release of a Corporate News, transmitted by DGAP - a company of EquityStory
AG.
The issuer / publisher is solely responsible for the content of this announcement.

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• High revenue in the first half of 2008 with an increase of 48.3 %
compared year-on-year
• Incoming orders with K€ 23,822 slightly below the level of previous year
• Reduced orders on hand (-32.6 %) are reflected by the successfully
started delivery of the new systems
• Earnings per share at 0.12 € (previous year: -0.07 €)

Hanover, 13 August 2008 – During the first half of 2008 Viscom AG, European
market leader in automatic optical inspection systems for the electronics
industry, earned revenue of K€ 28,446, compared to revenue in the
corresponding half of the previous year of K€ 19,179. This amounts to an
increase of 48.3%. 'Aside from that it is worth looking at the
corresponding figures of the 2006 financial year', stresses Dr. Martin
Heuser, board member and company founder of the Viscom AG, 'even this
comparison points up positive aspects: Viscom achieved an increase of 16.2%
compared to the first half of 2006.' This increase in revenue can be
estimated to be even higher when the weakness of the US dollar is taken
into account. The average dollar exchange rate continued to deteriorate
year-on-year for export-oriented European companies. After the first half
2008, Viscom recorded sales volume billed in USD that was some K€ 570 lower
than that at the USD/EUR exchange rate of the previous year.

Orders on hand were back to a normal level at the end of the reporting
period. Because the order backlog for newly developed systems was reduced
during the second quarter, orders on hand dropped as expected to K€ 9,477
(previous year: K€ 14,100). Customers issued a further K€ 23,822 in orders
during the first six months of 2008. Thus incoming orders are below the
level of the previous year (K€ 24,700). Because the majority of the planned
investments of our customers are usually made during the second half of the
year, we expect incoming orders to correspond to those of previous years.
'However, Viscom is also affected by the economic downturn', illustrates
Ulrich Mohr, board member and financial officer of the Viscom AG, 'the
current incoming orders do not quite meet our expectations. In Asia, due to
the unfavourable US dollar development, we need to calculate with lower
margins.'

Over the past few months, our new inspection systems have gained global
recognition. We have garnered two awards that are highly respected in the
industry. First, the X7056RS received the 2008 SMT VISION Award in the USA
for being the best new product in the Inspection category. The SMT VISION
Award 2008 in China followed simultaneously for the S3088-II system in the
category of Inspection & Testing-AOI. 'These honours once again point up
the merits of Viscom’s strategic orientation as a technology leader in
manufacturing inspection systems for electronics production', comments
Volker Pape, board member and company founder of the Viscom AG, '

However, costs that were 32.4% higher offset the higher revenue. This is
due to the higher cost of materials in line with higher revenue, and, to a
large extent, to staff costs. As a result of the expansion, a higher
proportion of costs was attributable to personnel, sales and research and
development in the first half of 2008. An EBIT of K€ 1,550 (previous year:
K€ -1,053) was achieved. The financial result shows a decline from the
previous year. Lower investments and the change to a form of investment
with greater tax benefits lowered interest income to K€ 129 (previous year:
K€ 546). In purely mathematical terms, this yields a tax rate of 37.4%. The
tax benefits of this form of investment will be recognised at the end of
the year. For 2008 as a whole, we expect a tax rate of less than 30%. This
enabled Viscom to earn total net profit for the period of K€ 1,051
(previous year: K€ -633). This yields earnings per share of € 0.12
(previous year: € -0.07).

Even in spite of the overall economic downturn the management of the Viscom
AG is confident that the company is well equipped for its planned revenue
growth. The forecast for revenue is between € 57 million and € 60 million
and an EBIT margin of 7 % to 9 % for the 2008 financial year.

Insofar as this notice contains prognoses or expectations or concerns
statements regarding the future, these statements may be marked by risk and
uncertainty. Thus we cannot guarantee that the expectations will prove
themselves correct. Actual events and developments may deviate
significantly from the expectations and assumptions expressed herein. Among
the factors which may cause deviation are changes in the general economic
situation, the competitive situation, exchange rates, interest rates and
changes in national and international laws, among others. Thus the company
assumes no responsibility to update the statements conveyed within this
notice.

Key figures of the Viscom AG

Company information
1H/2008
Key figures (K€) Jan.- Jun. 2008 Jan.- Jun. 2007
Revenue 28,446 19,179
EBIT 1,550 -1,053
EBIT margin 5.4 % -5.5 %
Financial result 129 546
Taxes on income -628 -126
Net profit for the period 1,051 -633
Earnings per share 0.12 -0.07

Number of shares 9,020,000 9,020,000

Number of employees 403 366

Segment information
1H/2008
Key figures (K€) Jan.- Jun. 2008 Jan.- Jun. 2007
Europe
Revenue 19,129 13,411
EBIT 994 -901
EBIT margin 5.2 % -6.7 %
Asia
Revenue 4,083 3,707
EBIT -101 147
EBIT margin -2.5 % 4.0 %
Americas
Revenue 5,234 2,061
EBIT 657 -299
EBIT margin 12.6 % -14.5 %

Contact:
Viscom AG
Investor Relations
Simone Huch
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-861
Fax: +49-511-94996-555
simone.huch@viscom.de

13.08.2008 Financial News transmitted by DGAP

Language: English
Issuer: Viscom AG
Carl-Buderus-Strasse 9-15
30455 Hannover
Deutschland
Phone: +49 (0) 511 94 996 861
Fax: +49 (0) 511 94 996 501
E-mail: simone.huch@viscom.de
Internet: www.viscom.com
ISIN: DE0007846867
WKN: 784686
Listed: Regulierter Markt in Frankfurt (Prime Standard), Hannover;
Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

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