Viscom AG — Earnings Release 2014

Nov 11, 2014

News Details

Ireland | 11 November 2014 09:00

Viscom AG: Incoming orders and revenue reach record level – forecast for 2014 confirmed

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

11.11.2014 09:00

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

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Hanover, 11 November 2014
Viscom AG remained on a successful course in the third quarter of 2014 and
achieved excellent results. Demand for new Viscom technologies, in
particular the new XM camera technology, one of the fastest AOI camera
systems on the global market, resulted in a very positive order situation
for the Viscom Group. Incoming orders for the first nine months of 2014
stood at EUR 46,142 thousand, which was already 24.8 % higher than in the
previous year's period (previous year: EUR 36,970 thousand) and marked a
new record level in Viscom's history. As of the end of the third quarter of
2014, order backlog amounted to EUR 13,817 thousand (previous year: EUR
9,454 thousand), which is an excellent base for the rest of the financial
year.

The positive trend is a reflection of Viscom AG's successful business
model. Revenue for the first nine months of the year was in line with
Viscom AG's expectations and reached a record high of EUR 41,767 thousand
(previous year: EUR 35,818 thousand). This equates to a year-on-year
increase of 16.6 %, which is the highest level that Viscom AG has ever seen
in the first nine months of a year.

Viscom's earnings potential again increased significantly in the third
quarter of 2014. The Group generated an EBIT-Margin of 17.6 % reclusively
in the third quarter. Earnings before interest and taxes (EBIT) amounted to
EUR 5,140 thousand (previous year: EUR 4,471 thousand) in the first nine
months of the year, which equates to an accumulated EBIT-Margin of 12.3 %
(previous year: 12.5 %). Net profit for the period increased from EUR 3,691
thousand to EUR 3,945 thousand.

At 83.4 %, the Group's equity ratio was still at a high level at roughly 3
percentage points lower than on 31 December 2013 (86.3 %).

In the first nine months of the year, Viscom Group customers once again
made considerable investments in Europe, primarily in the new XM camera
technology in conjunction with the automated optical inspection system
S6056. In addition, a large-scale order of around EUR 4 million for the
delivery of X-ray inspection systems to a contract manufacturer (EMS) in
China in the first half of the year was assigned for invoicing purposes to
this region, resulting in a significant year-on-year increase of 36.2 %.
The inspection systems themselves are being installed in Asia.

Taking into account the large order, business in the Asia region developed
positively in the second half of the year. The Global Application Team that
was set up in 2013, which implements customer-specific applications and
conducts evaluations on site, has already yielded favourable results and
supports the positive market momentum in this region.

The positive trend in the Americas region continued in the third quarter of
2014, boosted by the popularity of the new XM sensor module and the 3D AOI
technology.

The excellent order situation opens up further growth prospects for Viscom
AG. Viscom AG remains optimistic about the company's financial situation
and the current market environment in 2014. Viscom aims to acquire
additional global customers, particularly in the non-automotive sector. The
Global Business Development Team that was established in the third quarter
of 2014 serves to intensify the company's efforts in this regard.

The management of Viscom AG is sticking to the published forecast for the
current financial year and expects revenue of between EUR 55 million and
EUR 60 million and an EBIT-Margin of 13 % to 15 %.

Viscom AG
Viscom AG develops, manufactures and sells high-quality automated optical
and X-ray inspection systems for use in industrial electronics production
and is one of the global leaders in its field. Viscom inspection systems
are used in nearly all sectors of the electronics industry.

Key Figures of the Group

Consolidated income statement 01.01. ‒ 01.01. ‒
30.09.2014 30.09.2013
Revenue KEUR 41,767 35,818
EBIT KEUR 5,140 4,471
EBIT-Margin % 12.3 12.5
Net profit for the period KEUR 3,945 3,691
Earnings per share EUR 0.44 0.42
Number of employees at end of 320 297
period

Consolidated balance sheet 30.09.2014 31.12.2013
Assets
Current assets KEUR 51,719 62,785
Non-current assets KEUR 9,129 8,573
thereof: Financial assets KEUR 524 524
Total assets KEUR 60,848 71,358

Liabilities
Current liabilities KEUR 8,564 8,319
Non-current liabilities KEUR 1,556 1,473
Shareholders' equity KEUR 50,728 61,566
Total shareholders' equity and KEUR 60,848 71,358
liabilities
Equity ratio % 83.4 86.3

Consolidated cash flow statement 01.01.- 01.01.-
30.09.2014 30.09.2013
Cash flow from operating activities KEUR -1,123 3,953
Cash flow from investing activities KEUR -1,546 -1,876
Cash flow from financing activities KEUR -15,105 -5,331

Changes in cash and cash equivalents due KEUR 174 -39
to changes in interest rates
Cash and cash equivalents at end of period KEUR 11,685 26,721

Segment Information

Key figures 01.01. ‒ 30.09.2014 01.01. ‒ 30.09.2013
Europe
Revenue KEUR 27,808 20,410
EBIT KEUR 3,864 3,285
Asia
Revenue KEUR 7,473 9,769
EBIT KEUR 337 601
Americas
Revenue KEUR 6,486 5,639
EBIT KEUR 939 585

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.

11.11.2014 The DGAP 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
Germany
Internet: www.viscom.de

End of Announcement DGAP News-Service

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