Viscom AG — Interim / Quarterly Report 2013

May 14, 2013

News Details

Ireland | 14 May 2013 08:30

Viscom AG: Slow start to 2013, optimistic outlook

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

14.05.2013 08:30

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.

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Hanover, 14 May 2013
General Business Performance
The general economy continued to face challenges at the beginning of 2013.
Viscom AG customers showed a certain unwillingness to invest in the first
quarter of 2013. Increasing competition from low cost suppliers is also
impacting the global market. This situation in the market had a negative
effect on business particularly in Europe in the first months of the new
financial year.

The Asian market recovered considerably, already exceeding Viscom Group's
expectations and planning. Viscom acquired several new customers in Asia,
particularly in the EMS (electronic manufacturing services: job order
producers of electronic devices) and 3C (Computer, Communication, Consumer)
target markets.

The previous year's positive economic momentum continued in the Americas
region. Competition and pricing pressure, which have also increased in this
region, had a negative impact on earnings.

Net Assets and Financial Position
In the first three months of the 2013 financial year, customers placed
orders in the amount of EUR 10,530 thousand with Viscom Group. Incoming
orders were down by around 18 % on the very strong figure in the previous
year (EUR 12,910 thousand). Order backlog as of 31 March 2013 amounted to
EUR 8,272 thousand (previous year: EUR 10,081 thousand).

Viscom's Group revenue amounted to EUR 10,560 thousand in the reporting
period (previous year: EUR 13,741 thousand). Earnings before interest and
taxes (EBIT) amounted to EUR 762 thousand (previous year: EUR 2,546
thousand), corresponding to an EBIT-Margin of 7.2 % (previous year: 18.5
%). Net profit for the period was EUR 797 thousand (previous year: EUR
1,753 thousand).

With an equity ratio of 87.9 %, Viscom AG still has a very strong equity
base at the end of the first quarter of 2013 (31 December 2012: 85.9 %).

Outlook
Although Viscom had a slow start to 2013, the outlook is optimistic. The
Group acquired as customers further renowned telecommunications companies,
particularly in Asia, in the current second quarter. These new customers
provide Viscom with the opportunity to grow stronger in this market, to
reduce its dependence on the automotive supply industry and generate
additional revenue in other sectors.

Viscom has the potential to further develop its technological leadership
with key development projects still promising additional opportunities in
the market. The Group also plans to continue expanding its activities in
Asia for acquiring new customers in the EMS. A 'Global Application Team'
has been set up for this region to accelerate global customer acquisition
and customer retention in the long term.

Viscom is expanding its product portfolio in the required service and price
segments in response to increasing competition and pricing pressure in the
market.

Viscom AG's management continues to stick with its published annual
guidance and expects revenue growth of around 10 % year on year for full
year 2013. The EBIT-Margin is likely to be between 13 % and 17 %.

The Interim Management Report as of 31 March 2013 is available now on the
company website www.viscom.de under Investor Relations.

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.

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

Consolidated income statement 01.01.- 01.01.-
31.03.2013 31.03.2012
Revenue KEUR 10,560 13,741
EBIT KEUR 762 2,546
EBIT-Margin % 7.2 18.5
Net profit for the period KEUR 797 1,753
Earnings per share EUR 0.09 0.20
Number of employees at end of 293 275
period

Consolidated balance sheet 31.03.2013 31.12.2012
Assets
Current assets KEUR 60,645 61,423
Non-current assets KEUR 11,151 11,082
thereof: Financial assets KEUR 4,723 4,680
Total assets KEUR 71,796 72,505
Liabilities
Current liabilities KEUR 7,682 9,280
Non-current liabilities KEUR 979 949
Shareholders' equity KEUR 63,135 62,276
Total liabilities and shareholders' equity KEUR 71,796 72,505
Equity ratio % 87.9 85.9

Cash flow statement 01.01.-31.03.2013
01.01.-31.12.2012
Cash flow from operating KEUR 403 9,520
activities
Cash flow from investing KEUR -378 -1,594
activities
Cash flow from financing KEUR 0 -6,665
activities
End of period capital KEUR 30,075 30,014

SEGMENT INFORMATION

                          01.01.-31.03.2013         01.01.-31.03.2012

EUROPE
Revenue KEUR 5,729 9,461
EBIT KEUR 270 2,156
ASIA
Revenue KEUR 3,037 2,356
EBIT KEUR 361 132
AMERICAS
Revenue KEUR 1,794 1,924
EBIT KEUR 131 258

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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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