Viscom AG — Interim / Quarterly Report 2011

Nov 11, 2011

News Details

Ireland | 11 November 2011 08:00

Viscom AG: Good times for success

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

11.11.2011 08:00

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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Viscom AG: Good times for success

Hanover, 11 November 2011

General Business Performance

The very upbeat business performance in the first half of 2011 continued in
the third quarter. Participants in the key markets were increasingly
willing to invest again. Together with investments in new products and
future technologies as well as the growing service portfolio, this had a
positive effect. In the reporting period, all regions contributed to a rise
in revenue and consequently to the Company's positive total earnings. The
European market remains Viscom Groupʼs strongest sales region by far, but
the USA and Asia also confirmed their positive market position with
positive figures. Core customersʼ increasing willingness to invest, the
strengthening of the sales and aftersales business areas as well as a
greater presence at trade fairs supported this positive development.

X-ray inspection systems are becoming more important for reliably ensuring
the quality of modern assemblies. Viscom is banking on factors such as a
specific control for the X-ray tubes to speed up the X-ray inspection
process in an environment of ever-increasing industry requirements. This
technology has significantly increased speeds during inline use - providing
the electronics industry with the greatest possible flexibility. In
addition, demand for high-end inspection systems has risen further.
Production capacities are full until the end of the year and beyond.

Earnings and Financial Position

In the first nine months of 2011, customers placed orders totalling EUR
38,510 thousand with Viscom Group. Incoming orders were therefore clearly
up on the comparable period (previous year: EUR 32,731 thousand). Order
backlog at the end of the third quarter was EUR 12,639 thousand (previous
year: EUR 15,011 thousand).

Viscom generated Group revenue of EUR 39,351 thousand in the reporting
period (previous year: EUR 22,975 thousand). Compared to the previous
year's period, this is a steep rise of 71.3 %. Earnings before interest and
taxes (EBIT) amounted to EUR 8,692 thousand (previous year: EUR 2,753
thousand).

This corresponds to an EBIT margin of 22.1 %. The result was positively
impacted by the capitalisation of company-produced assets to the amount of
EUR 1,297 thousand in the first nine months. Adjusted for this one-off
effect, EBIT amounted to EUR 7,395 thousand and the adjusted EBIT margin to
18.8 % respectively. Net profit for the period more than doubled from EUR
2,972 thousand in the previous year to EUR 6,400 thousand. With an equity
ratio of 87.2 %, Viscom AG still has a very positive equity base (31
December 2010: 86.3 %).

Viscom Group is sticking with its guidance from 27 July 2011 of EUR 50
million to EUR 53 million in revenue and an EBIT margin between 15 % and 18
% for the current financial year in view of its present business
performance.

Outlook

Viscom systems are top technological products that are employed around the
world for improving quality and efficiency of electronics production
processes. The Company continues to invest in research and development to
maintain its status as a technological leader. Its current focus is
increasingly shifting to expanding the sales of the 3D paste inspection
system and developing the 3D X-ray inspection system as well as the 3D
function of the bonding wire inspection system. In terms of market
development, the objective remains to strengthen and expand sales in Asia.

Organisational Changes

On 1 September 2011, the Executive Board of Viscom AG resolved to merge the
divisions of the special optical inspection systems (NP) and special X-ray
inspection systems (XP) business areas to streamline the Group structure
and further improve processes. The XP business area was integrated as an
independent Group into the NP business area.

Viscom

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 (KEUR) 01.01.-30.09.2011 01.01.-30.09.2010

Revenue 39,351 22,975
EBIT 8,692 2,753
Financial result 402 296
Income taxes -2,694 -77
Net profit for the period 6,400 2,972
Earnings per share EUR 0.72 EUR 0.33
Number of employees at end of period 273 257

Consolidated balance (KEUR) 30.09.2011 31.12.2010
Assets
Current assets 51,051 51,120
Non-current assets 17,941 11,073
thereof: financial assets 10,565 3,166
Total assets 68,992 62,193
Liabilities
Current liabilities 8,403 8,232
Non-current liabilities 426 299
Shareholdersʼ equity 60,163 53,662
Total liabilities and shareholdersʼ 68,992 62,193
equity
Equity ratio 87.2 % 86.3 %

Consolidated Cashflow statement 01.01.- 01.01.-
(KEUR) 30.09.2011 31.12.2010

Cashflow from operating activities 10,291 4,686
Cashflow from investing activities -8,874 -4,394
Cashflow from financing activities -15 -6
End of period capital 27,323 25,905

Segment Information

Key figures (KEUR) 01.01.-30.09.2011 01.01.-30.09.2010
Europe
Revenue 30,068 16,229
EBIT 7,661 2,852
Asia
Revenue 5,736 4,368
EBIT 711 58
Americas
Revenue 3,547 2,378
EBIT 320 -157

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.

11.11.2011 DGAP's Distribution Services include Regulatory Announcements,
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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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