Viscom AG — Earnings Release 2010

Nov 12, 2010

News Details

Ireland | 12 November 2010 08:30

Viscom AG: Business developments exceed expectations – 2010 annual forecast raised

Viscom AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act]

12.11.2010 08:30

Interim report according to Article 37x of the WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Hanover, 12 November 2010
Viscom AG develops, produces and distributes high-quality automatic optical
and X-ray inspection systems for industrial electronics production and is
among the world's leading suppliers in its field. Viscom inspection systems
are used in almost all areas of the electronics industry.

Overall Business Development

The positive trend seen in the first six months of 2010 continued in the
third quarter. Viscom AG is reporting a significant increase in incoming
orders, which have more than doubled compared to the previous year. It is
pleasing to note that the positive trend in Asia over the first six months
of 2010 has further solidified. Revenue in the region has nearly quadrupled
compared to the same period in the previous year.

The trend of increasing investment activity in the automotive industry as
well as the electronics and consumer goods segments in the first nine
months of 2010 continues. Particularly demand for high-end inspection
systems such as the X7056RS and S6056 has increased further in these
sectors.

The restructuring of the group implemented in 2009 as well as a consistent
cost reduction policy are making a positive contribution to the development
of earnings. Reduced working hours at the Hanover location have been
increased again in the meantime. Other operating expenses were also reduced
significantly compared to the previous year, in part thanks to the
consistent focus on the core business of Viscom AG.

Capacity utilisation in production remains very high. Production and
commissioning are running at full capacity until the end of the year. The
order backlog is being processed with existing personnel and temporary
workers.

Earnings and Financial Position

At EUR 22,975 thousand, consolidated revenue for the first three quarters
of 2010 is approximately 69 % higher compared to the previous year (EUR
13,600 thousand). Earnings before interest and taxes (EBIT) amount to EUR
2,753 thousand (previous year: EUR -8,987 thousand). The EBIT includes
one-off effects from the reduction of impairment losses for slow movers
(goods that show none or little demand during a certain period of time)
amounting to about EUR 1.6 million as well as from recognising development
services of about EUR 0.7 million. The EBIT now shows clearly positive
developments in operations as well. The group is therefore back on track,
having recovered from the economic crisis.

Customers of Viscom Group placed orders in the amount of EUR 32,731
thousand in the first nine months of 2010. Incoming orders are therefore
significantly above the level of the same period last year (previous year:
EUR 12,832 thousand). The order backlog at the end of the third quarter of
2010 is EUR 15,011 thousand (previous year: EUR 5,430 thousand).

With an equity ratio of 87.3 %, Viscom AG has maintained a very strong
equity base (31 December 2009: 89.0 %).

Outlook

Based on favourable business developments, the Executive Board is raising
the overall annual forecast for 2010. The group now aims to generate
revenue of EUR 34 million to 35 million as well as net profit for the
period of EUR 4 million to 4.5 million in the 2010 financial year.
Management is therefore deviating from the original plans, which
anticipated revenue of EUR 30 million and break-even net profit for the
period in 2010.

Personnel

Mr. Ulrich Mohr, CFO of Viscom AG, is leaving the company at the end of his
employment contract effective 31 December 2010. Mr. Dirk Schwingel was
engaged as the Commercial Manager of Viscom AG effective 1 July 2010. Mr.
Dirk Schwingel is 46 years old and was most recently employed as the
Commercial Managing Director of an SME in the mechanical engineering sector
in North Rhine-Westphalia.

Key figures of Viscom AG

Key Group figures

Key Figures (KEUR) 01.01. - 01.01. -
30.09.2010 30.09.2009
Revenue 22,975 13,600
EBIT 2,753 -8,987
Financial result 296 380
Income taxes -77 113
Net profit for the period 2,972 -8,494
Earnings per share EUR 0.33 EUR -0.96
Number of employees 257 283
Key Figures (KEUR) 01.01. - 01.01. -
30.09.2010 31.12.2009
Current assets 45,777 43,113
Non-current assets 6,947 5,005
Current debt 6,403 5,045
Non-current debt 267 231
Total assets 52,724 48,188
Equity 46,054 42,842
Equity ratio 87.3 % 89.0 %
Cash flow from operating activities -1,502 1,757
Cash flow from investing activities -3,824 -2,635
Cash flow from financing activities -7 -26
Cash and cash equivalents 20,128 25,322
Financial investments 5,333 2,147

Segment information

Key Figures (KEUR) 1.1. - 30.09.2010 1.1. - 30.09.2009
Europe
Revenue 16,229 11,140
EBIT 2,852 -7,739
Asia
Revenue 4,368 1,031
EBIT 58 -568
Americas
Revenue 2,378 1,429
EBIT -157 -680

Insofar as this report contains forecasts or communicates expectations or
statements that refer to the future, such information may be associated
with risks and uncertainty. As a result, we cannot guarantee that the
expectations will prove to be correct. The actual results and developments
may deviate significantly from the expectations and assumptions that have
been expressed. Factors that may lead to such deviations include changes in
the overall economic and competitive situation, exchange rate and interest
rate fluctuations or national and international legal changes. The company
assumes no obligation to update the information contained in this report.

12.11.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language: English
Company: Viscom AG
Carl-Buderus-Strasse 9-15
30455 Hannover
Deutschland
Internet: www.viscom.com

End of Announcement DGAP News-Service

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