Viscom AG — Earnings Release 2014

May 13, 2014

News Details

Ireland | 13 May 2014 08:45

Viscom AG: Good start to the 2014 financial year – incoming orders reach record level

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

13.05.2014 08:45

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

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Hanover, 13 May 2014

General business performance
Viscom AG got off to a good start to the 2014 financial year. Particularly
positive was the fact that incoming orders in the first quarter were the
highest ever recorded in a first quarter since the company was established.

Viscom's strategy to gain market shares outside the automotive sector was
successfully implemented in the first quarter of 2014 with a large order
from the 3C (Computer, Communication and Consumer) sector. The order volume
totals approximately EUR 4 million and will be reported as revenue in the
2014 financial year.

The high demand for the technologically cutting-edge high-end inspection
systems S6056XM for automated optical inspection (AOI) and the 2-D/3-D
X-ray inspection system X7056RS, which can simultaneously conduct an
optical inspection, is good news for the Viscom Group. The high inspection
depth and speed of X7056RS offers key advantages in in-line X-ray
inspection and in combination with the optical inspection of electronic
modules. The system is therefore ideally equipped for the future 3C market.

The Viscom Group is focusing on the target regions Asia and America.
Revenue in America increased some 11 % on the previous year and EBIT was up
by as much as around 55 %. In Asia on the other hand, the Group registered
a decline in revenue of approximately 17 % compared to the strong first
quarter of 2013.

However, the European market performed well, continuing to represent Viscom
Group's strongest sales region in the first quarter by far. Revenue in this
region was up by around 12 % and EBIT even improved by approximately 86 %
year on year.

Net assets and financial position
In the first three months of the 2014 financial year, customers placed
orders with Viscom Group in the amount of EUR 15,601 thousand. Incoming
orders were up by around 48 % on the previous year (EUR 10,530 thousand),
representing a record order intake for Viscom in the first quarter. Order
backlog as of 31 March 2014 amounted to EUR 14,112 thousand (previous year:
EUR 8,272 thousand), one of the highest levels in the company's history,
and an increase of some 71 % year on year.

Viscom's Group revenue amounted to EUR 10,931 thousand (previous year: EUR
10,560 thousand) in the period under review and is around 4 % higher
compared to the previous year. Earnings before interest and taxes (EBIT)
amounted to EUR 844 thousand (previous year: EUR 762 thousand),
corresponding to an EBIT margin of 7.7 % (previous year: 7.2 %). Net profit
for the period was EUR 663 thousand (previous year: EUR 797 thousand) due
to the higher tax rate.

With an equity ratio of 86.6 %, Viscom AG still has a very strong equity
base at the end of the first quarter of 2014 (31 December 2013: 86.3 %).

Outlook
Viscom AG will continue to invest in the development of new products. The
Group will shortly introduce X8068, a new system for manual and
semi-automated X-ray inspection. The new compact 3-D AOI system S3088 ultra
is also currently being launched. This system combines the flexibility of
Viscom's S3088 automated optical inspection systems family with the
strengths of the XM high-speed module. The S3088 ultra was introduced to a
wider audience at the leading European SMT fair in Nuremburg in May this
year. The Group's current product portfolio and research and development
projects offer good growth prospects for the company in the 2014 financial
year. Viscom anticipates revenue of between EUR 55 million and EUR 60
million and an EBIT margin of between 13 % and 15 % in 2014.

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.-
31.03.2014 31.03.2013
Revenue kEUR 10,931 10,560
EBIT kEUR 844 762
EBIT margin % 7.7 7.2
Net profit for the period kEUR 663 797
Earnings per share EUR 0.07 0.09
Number of employees at end of period 307 293

Consolidated balance sheet 31.03.2014 31.12.2013
Assets
Current assets kEUR 63,170 62,785
Non-current assets kEUR 8,674 8,573
thereof: Financial assets kEUR 524 524
Total assets kEUR 71,844 71,358

Liabilities
Current liabilities kEUR 8,180 8,319
Non-current liabilities kEUR 1,456 1,473
Shareholders' equity kEUR 62,208 61,566
Total shareholders' equity and liabilities kEUR 71,844 71,358
Equity ratio % 86.6 86.3

Consolidated cash flow statement 01.01.- 01.01.-
31.03.2014 31.12.2013
Cash flow from operating activities kEUR -387 7,174
Cash flow from investing activities kEUR -473 -2,478
Cash flow from financing activities kEUR 0 -5,331
Changes in cash and cash equivalents due kEUR -1 -94
to changes in interest rates
Cash and cash equivalents at end of period kEUR 28,424 29,285

Segment Information

                          01.01.-31.03.2014         01.01.-31.03.2013

Europe
Revenue kEUR 6,432 5,729
EBIT kEUR 501 270
Asia
Revenue kEUR 2,515 3,037
EBIT kEUR 140 361
Americas
Revenue kEUR 1,984 1,794
EBIT kEUR 203 131

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.

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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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