Viscom AG — Interim / Quarterly Report 2010

May 12, 2010

News Details

Ireland | 12 May 2010 07:30

Viscom AG: Outlook for 2010 still positive

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

12.05.2010 07:30

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.

---

Hanover, 12 May 2010
Viscom AG (ISIN DE0007846867) develops, builds, and markets premium quality
automatic optical and X-ray inspection systems for use in industrial
electronics production and is one of the leading providers in the world.
Viscom inspection systems are used in almost every sector of the
electronics industry.

General business development

After the global economic crisis had significantly impacted Viscom AG's
business development in the past year, the market showed increasing signs
of recovery in the first quarter of 2010. The willingness to invest has
increased again in the markets most important to Viscom AG, particularly
the automotive supplier industry, and also our key customers have started
investing again.

Viscom AG also managed to reduce its dependency on the automotive supplier
industry and obtain more orders from the communications and EMS sector. We
are also pleased with the large demand for our cutting-edge, high-end
X7056RS inspection system, which combines optical and X-ray inspection
technology and offers significant advantages for the inspection of
electronics components due to its considerable measuring depth and speed.

The improved overall economic conditions helped us increase the number of
incoming orders in the first quarter of 2010 by around 77 % year on year.
The positive development of the Asian business is particularly worth
mentioning. At the end of the first three months of 2010, incoming orders
in this region were already 78 % up on total revenue in the 2009 financial
year.

The low order backlog at the end of the year compared to previous years
still impacted Viscom AG's revenue and results of operations in the first
two months of the current financial year. In March 2010, revenue increased
significantly compared to the previous months, as the number of incoming
orders increased. The restructuring of the Group in 2009 and the consistent
cost cutting measures had a positive effect on the development of earnings.
In combination with the reduced working hours at Viscom's Hanover site this
lead to a considerable reduction in staff costs compared to the previous
year. Other operating expenses also dropped significantly year on year.
Business development in previous years has shown that the first quarter is
always the weakest of the financial year in terms of revenue and earnings.
Results of operations in the first quarter of 2010 were already
considerably better than in 2009 and revenue was within our plans for the
year.

Earnings and financial position

Group revenue for the first quarter of 2010 amounted to EUR 5,102 thousand,
which was lower than in the previous year (EUR 5,471 thousand). Earnings
before interest and taxes (EBIT) were EUR -1,569 thousand, a significant
improvement compared to the previous year (EUR -2,866 thousand) and the
result of cost cutting measures.

In the first three months of 2010, customers placed orders to the value of
EUR 7,830 thousand with Viscom AG. Incoming orders were therefore
significantly up year on year (previous year: EUR 4,435 thousand). Order
backlog at the end of the first quarter of 2010 was EUR 7,983 thousand (Q1
2009: EUR 5,162 thousand).

With an equity ratio of 87.8 %, Viscom AG continues to show a very positive
equity base at the end of the first quarter of 2010 (Q1 2009: 88.1 %).

Outlook

Viscom AG is one of the market leaders in the technology sector. We are
investing large sums in research and development to maintain this status.
One of our most important projects is the development of a new type of user
interface for all Viscom inspection systems, which is going to make their
operation even more intuitive. The new user-friendly interface will be
introduced in mid-2010.

After the losses in 2009, we are aiming to break even in 2010 and increase
revenue to EUR 30 million. Whether or not Viscom AG achieves this goal
depends on the future development of the global economy and the order
behaviour of our customers.

Key figures of Viscom AG

Group information

Key figures (KEUR) 01.01.- 01.01.-
31.03.2010 31.03.2009
Revenue 5,102 5,471
EBIT -1,569 -2,866
Financial result 87 80
Income taxes 114 71
Net profit for the period -1,368 -2,715
Earnings per share EUR -0.15 EUR -0.31
Number of employees 264 361

Key figures (KEUR) 01.01.- 01.01.-
31.03.2010 31.12.2009

Current assets 39,300 43,113
Non-current assets 8,144 5,005
Current liabilities 5,561 5,045
Non-current liabilities 229 231
Balance sheet total 47,444 48,118

Shareholders' equity 41,654 42,842
Equity ratio 87.8 % 89.0 %

Cash flow from operating activities -627 1,757
Cash flow from investing activities -2,630 -2,635
Cash flow from financing activities 0 -26

Cash and cash equivalents 22,177 25,322
Financial assets 5,333 2,159

Segment information

Key figures (KEUR) 01.01.-31.03.2010 01.01.-31.03.2009
Europe
Revenue 3,805 4,336
EBIT -1,223 -2,457
Asia
Revenue 907 305
EBIT -148 -225
Americas
Revenue 390 830
EBIT -198 -184

Any forecasts, speculations or statements regarding future events included
in this report may contain risks and be of unreliable nature. We can
therefore not guarantee that these speculations will prove true. Actual
results and developments may vary greatly from the expressed speculations
and assumptions. Factors that could cause actual results to differ from
forecasts include, amongst others, changes in the general economic
environment and competition, exchange rate and interest rate fluctuations,
changes of national and international laws. The Company does not assume any
responsibility for updating the statements contained in this report.

12.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de

---

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

End of News DGAP News-Service

---