Viscom AG — Earnings Release 2012

Mar 26, 2013

News Details

Corporate | 26 March 2013 07:30

Profitable 2012 financial year for Viscom AG

Viscom AG / Key word(s): Final Results

26.03.2013 / 07:30

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Profitable 2012 financial year for Viscom AG

– Revenue slightly below target at EUR 50,037 thousand

– EBIT margin of 18.5 % exceeds expectations

– Revenue in the Americas region up 29 % year on year

– Proposed dividend: EUR 0.60 per share

Hanover, 26 March 2013 – Viscom AG (ISIN DE0007846867), European market leader for high-quality automated optical inspection systems in the electronics industry, again presented itself well on the market in the 2012 financial year, again achieving a high profit margin.

Viscom AG was not quite able to match the revenue generated in its record year 2011. Even the strong performance in the second half of the year and positive year-end business figures could not fully offset last year’s weak second quarter. At EUR 50,037 thousand, Group revenue in 2012 fell slightly short of expectations, down 6.5 % year on year (previous year: EUR 53,499 thousand).

However, income figures in the past financial year were particularly encouraging, even exceeding Viscom AG’s own annual forecast. At 18.5 %, the Company’s EBIT margin is very good when compared to the rest of the industry. In absolute terms, earnings before interest and taxes (EBIT) amounted to EUR 9,248 thousand (previous year: EUR 12,014 thousand).

Revenue in Germany in the amount of EUR 18,367 thousand decreased by approximately 25 % compared to the previous year (previous year: EUR 24,345 thousand). This was due to the continued outsourcing of product capacities abroad and the abating backlog in recent years. In Europe, revenue was up approximately 12 % year on year at EUR 14,103 thousand (previous year: EUR 12,554 thousand). As in the previous year, impulses from the relocation and development of production capacity in Eastern Europe continued in 2012. The Europe region generated total revenue of EUR 32,470 thousand (previous year: 36,899 thousand). Earnings before interest and taxes (EBIT) amounted to EUR 7,796 thousand (previous year: EUR 10,439 thousand).

Total revenue in Asia declined by approximately 10 % to EUR 8,954 thousand (previous year: EUR 9,936 thousand) due mainly to the strong competition among low-cost providers in the region. Earnings before interest and taxes (EBIT) amounted to EUR 494 thousand (previous year: EUR 1,072 thousand).

The US economy recovered only moderately in the year under review. Despite this, Viscom achieved decidedly positive revenues in this region. At EUR 8,613 thousand, Viscom’s revenue in this segment was up approximately 29 % year on year (previous year: EUR 6,664 thousand). Earnings before interest and taxes (EBIT) amounted to EUR 958 thousand (previous year: EUR 503 thousand).

Net profit for the period declined from EUR 8,496 thousand in the previous year to EUR 6,638 thousand.

The Executive and Supervisory Boards will propose to the Annual General Meeting that a dividend of EUR 0.60 per share be paid, corresponding to a dividend payout ratio of more than 80 %. The dividend yield amounts to 7.9 % on a closing price of EUR 7.60 per share on 31 December 2012.

At EUR 47,427 thousand, incoming orders for 2012 were down approximately 7 % on the value of EUR 50,931 thousand for the previous year. Order backlog declined to EUR 8,302 thousand at the end of 2012 (previous year: EUR 10,912 thousand).

For 2013, Viscom AG’s Management anticipates an increase in revenue of around 10 % on the previous year. The EBIT margin will likely be somewhere between 13 % and 17 %.

The Annual Report 2012 is now available on the Company website www.viscom.de in the Investor Relations section.

Any forecasts, expectations or forward-looking statements included in this report may carry risks and uncertainties. We therefore cannot guarantee that these assumptions will turn out to be correct. Actual results and developments may vary significantly from the forecasts and assumptions made in this report. Factors that may lead to such deviations include changes to the general economic development and competitive position, exchange rate and interest rate fluctuations as well as amendments to national and international laws. The Company does not assume any responsibility for updating the statements contained in this report.

KEY FIGURES OF THE GROUP

		2012	2011
Revenue	KEUR	50,037	53,499
EBIT	KEUR	9,248	12,014
EBIT margin	%	18.5	22.5
Net profit for the period	KEUR	6,638	8,496
Total assets	KEUR	72,505	72,480
Equity ratio	%	85.9	86.0
Cash flow statement	KEUR	9,520	11,535
CF from operating activities	KEUR	-1,594	-8,814
CF from investing activities	KEUR	-6,665	86
Cash and cash equivalents at end of period	KEUR	30,014	28,810
Earnings per share	EUR	0.75	0.96
Employees at end of year		286	273

SEGMENT INFORMATION

		2012	2011
EUROPE
Revenue	KEUR	32,470	36,899
EBIT	KEUR	7,796	10,439
EBIT margin	%	24.0	28.3
ASIA
Revenue	KEUR	8,954	9,936
EBIT	KEUR	494	1,072
EBIT margin	%	5.5	10.8
AMERICAS
Revenue	KEUR	8,613	6,664
EBIT	KEUR	958	503
EBIT margin	%	11.1	7.5

Contact:

Viscom AG

Investor Relations

Sandra M. Liedtke

Carl-Buderus-Str. 9-15

30455 Hannover

Tel.: +49-511-94996-850

Fax: +49-511-94996-555

investor.relations@viscom.de

End of Corporate News

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Language:	English
Company:	Viscom AG
	Carl-Buderus-Strasse 9-15
	30455 Hannover
	Germany
Phone:	+49 (0) 511 94 996 850
Fax:	+49 (0) 511 94 996 555
E-mail:	investor.relations@viscom.de
Internet:	www.viscom.de
ISIN:	DE0007846867
WKN:	784686
Listed:	Regulierter Markt in Frankfurt (General Standard), Hannover; Freiverkehr in Berlin, Düsseldorf, München, Stuttgart

End of News	DGAP News-Service

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