Interim Report as at 30 September 2022

3D-SPI 3D-AOI 3D-AXI 3D-MXI 3D-Bond CCI

INHALT

Foreword by the Executive Board

Viscom's shares

Interim Group Management Report
Basic information on the Group
Business model of the Group

Economic Report

Macroeconomic and sector development
Summary analysis of the Company's net assets, financial position and results of operations and course of business
- Results of operations
- 14 Regional developments
- 15 Financial position
- 16 Net assets
- 17 Key figures on the Group's net assets, financial position and results of operations
Supplementary Report
Report on risks and opportunities
Report on future developments in 2022
Economic conditions

Other disclosures

IFRS interim consolidated financial statements

21 Consolidated statement of comprehensive income
22 Consolidated statement of financial position: assets
23 Consolidated statement of financial position: equity and liabilities
24 Consolidated statement of cash flows
25 Statement of changes in equity
Selected notes
Notes to the consolidated statement of comprehensive income
Responsibility statement
Financial calendar 2022
Viscom structure

OPERATING FIGURES

Profit and loss

		9M 2022	9M 2021
Revenues	K€	66,958	54,820
EBIT	K€	1,885	1,858
Net profit for the period	K€	1,075	1,195

Balance sheet and cashflow statement figures

		9M 2022	9M 2021
Total assets	K€	107,132	90,190
Equity ratio	%	53.0	60.9
CF from current business	K€	-3,463	-5,061
CF from investment	K€	-3,770	-2,115
CF from financing	K€	-3,957	-2,311
End of period capital	K€	-17,035	-5,038

		9M 2022	9M 2021
Result per share	€	0.12	0.13

Employees

	9M 2022	9M 2021
Employees on 30 September	551	464

VISCOM. VISION TECHNOLOGY.

Founded:

1984 by Dr. Martin Heuser and Volker Pape

Number of employees worldwide: 551

World Market Leader:

Viscom is the No. 1 solution provider for automatic optical inspection in the automobile industry.

Headquarters and production: "Made in Germany":

Hanover, Germany

Subsidiaries:

Viscom France S.A.R.L., Paris, France Viscom Tunisie S.A.R.L., Tunis, Tunisia Viscom Inc., Atlanta, Georgia, United States Viscom Machine Vision Pte Ltd., Singapore Viscom Machine Vision (Shanghai) Trading Co., Ltd., Shanghai, China VICN Automated Inspection Technology (Huizhou) Co., Ltd., Huizhou, China VISCOM MACHINE VISION (INDIA) PRIVATE LIMITED, Bangalore, India Viscom Metallgestaltung GmbH, Hanover/ Langenhagen, Germany Exacom GmbH, Hanover, Germany

FOREWORD BY THE EXECUTIVE BOARD

We have had a positive and eventful first nine months in the 2022 financial year. Despite the challenging macroeconomic environment, order intake reached € 81.0 million, the highest level in the first three quarters since the company was founded, and was thus 19.6 % higher than in the previous year (€ 67.7 million). The ongoing supply chain disruption has left us with major challenges: the supply of parts has taken and is still taking a high level of organisational effort and manpower. Thanks to our strong commitment to in-house pre-production and procurement by a specially created taskforce, revenue amounted to € 67.0 million, equivalent to year-on-year growth of 22.1 % (previous year: € 54.8 million). The rise in staff costs and procurement prices has negatively affected earnings: As in the previous year, EBIT amounted to € 1.9 million (previous year: € 1.9 million). The EBIT-Margin was 2.8 % (previous year: 3.4 %).

Demand for Viscom inspection systems is undiminished. Besides X-ray systems, optical systems are still highly sought-after, especially in Europe. The encouraging incoming orders have resulted in an unusually high order backlog of € 43.0 million (previous year: € 31.8 million). Given the ongoing shortage of parts, Viscom is having to postpone the completion and delivery of machinery, which is in turn affecting revenue recognition. The shortage of parts is increasingly affecting our customers as well: projects already assigned have been delayed and, here too, revenue recognition has been de-ferred to a later date.

To minimise the supply shortages for the steel frames and lead compartments needed to manufacture inspection systems, we have acquired a long-standing supplier for the manufacture of metal frames this year. This company will operate exclusively for Viscom AG under the name Viscom Metallgestaltung GmbH.

We have made changes within our organisation as well. The unit for the development and sale of machinery for the X-ray inspection of battery cells was spun off to form the new subsidiary Exacom GmbH. As a subsidiary, Exacom GmbH will focus on the development and sale of machinery for the X-ray inspection of battery cells – for all application areas, regardless of cell format or size. The subsidiary is based in Hanover at the headquarters of the Viscom Group. From here, the Exacom team is working on the expansion and further development of its product portfolio. Whether for electric mobility, energy storage or mobile devices, demand for batteries is growing and therefore so is the need for reliable inspection. The clear goal of the new Viscom subsidiary is to continue to support customers with maximum reliability and precision in manufacturing high-quality battery cells. The founding of Exacom GmbH is another systematic step towards establishing Viscom AG as a strong provider of stateof-the-art inspection systems and innovative solutions outside the automotive sector as well, and to actively leverage the opportunities arising on the growth market for energy storage products.

Viscom AG is revising its forecast for the 2022 financial year on the basis of these quarterly figures and the assumption that market developments will remain positive. We now anticipate incoming orders of between € 100 million and € 105 million (previously: between € 90 million and € 95 million) and revenue of between € 95 million and € 100 million (previously: between € 90 million and € 95 million) with an EBIT-Margin of 5 % to 8 % (previously: 5 % to 10 %). This translates into EBIT of between € 4.7 and € 8.0 million (previously: € 4.5 to € 9.5 million). Achieving this forecast for the 2022 financial year is being made more difficult by the geopolitical tension stemming from the war in Ukraine and the strict zero-COVID strategy in China with new lockdown measures and the known effects on global supply chains. The ongoing inflation and interest concerns, not to mention the continuous rise in procurement prices, are likewise having a clearly negative impact on Viscom AG's business. Moreover, reduced freight capacity has the potential to adversely effect revenue recognition. Nonetheless, we are confident that we are well positioned to generate sustainable and profitable growth.

Keep your trust in us and stay healthy!

The Executive Board

Carsten Salewski Peter Krippner

Dr. Martin Heuser Dirk Schwingel

VISCOM'S SHARES

Basic information on Viscom's shares

German Securities Code Number (WKN)	784686
ISIN	DE 000 7846867
Ticker symbol	V6C
Market segment	Regulated market (Prime Standard)
Type of shares	No-par value bearer shares
Share capital (€)	9,020,000
Share capital (units)	9,020,000
Number of voting shares	8,885,060

Opening price on 3 January 2022	€ 14.15
Closing price on 30 September 2022*	€ 7.50
Percentage change (rounded)	-47 %
High on 3 January 2022*	€ 13.85
Low on 29 September 2022*	€ 7.48
Market capitalisation as at 30 September 2022	€ 67,650,000

* All share price information is based on XETRA daily closing prices

Share price performance in the reporting period 01.01. – 30.09.2022

Viscom AG's shares began the current financial year at a price of € 14.15 and reached their high for the year to date on 3 January 2022 with a daily closing price of € 13.85. In a generally negative market environment, Viscom's shares also buckled in the first quarter of 2022 and lost the ground they had gained. The stock markets responded to the outbreak of war in Ukraine with significant price losses and extreme volatility. On top of this, ongoing inflation and interest worries, COVID and the supply chains problems have had a negative impact on the ongoing development of the capital markets. The tense news flow in connection with the war in Ukraine, as well as the strict zero-COVID strategy in China with new lockdown measures and the known effects on global supply chains, negatively impacted the stock markets again in the second quarter of 2022. Fears of a global recession, continued high prices for energy and raw materials and the planned tightening of monetary policy by central banks increasingly became stress factors for the financial markets and resulted in significant price losses. Despite temporary minor recoveries, sentiment remained negative, setting the stock markets on a downward trend again at the end of the

Share price performance

as against the DAX and TecDAX in the first nine months of 2022

■ Viscom (Xetra): 53.6 % ■ DAX (Xetra): 75.6 % ■ TecDAX (Perf.) (Xetra): 68.0 %

first half of the year. Sentiment on the stock markets began to brighten at the start of the third quarter of 2022: Abating economic concerns and declining oil prices allowed tensions to ease, while at the same time countering the high inflation forecasts. However, time and again, the German market barometers have been encumbered with the looming gas crisis. While the central banks of the US and the euro area were able to appease the financial markets with interest rate decisions, many investors saw the rise in lending rates as an effective tool for combatting inflation. Nevertheless, sentiment on German markets became more pessimistic in the face of inflation and recessionary fears, coupled with the advancing energy crisis in the months that followed. Viscom's shares were also unable to escape the general negative market environment despite positive reporting by Viscom AG, and reached their low for the year to date at € 7.48 on 29 September 2022. The average price of Viscom's stock was € 10.39 in the first nine months of 2022, closing at € 7.50 per share on 30 September 2022.

Shareholder structure

Viscom AG's shareholder structure is largely defined by the considerable investment held by its founders, Dr. Martin Heuser and Volker Pape. Dr. Heuser and Mr. Pape hold 59.99 % of the shares, either directly or through intermediary companies and foundations. Viscom AG itself holds 1.50 % of its own shares, which the company purchased under a share buyback programme in 2008/2009. 4.98 % of the shares are held by Allianz IARD S.A. and a further 3.02 % by Universal-Investment-Gesellschaft mbH. The 30.51 % of shares in free float are primarily held by investors in Germany and other European countries.

Investor Relations

The objective of our investor relations work is to enable all capital market participants to assess Viscom AG fairly. This is why we pursue a policy of continuous and transparent communication. Extensive information on Viscom's shares can be found in the Investor Relations section of the company's website at www.viscom.com.

Pareto Securities AS and EQUI.TS GmbH regularly cover and comment on Viscom's shares. The shares had two "buy" recommendations as at 30 September 2022. The current ratings can be found in the Company/Investor Relations/Shares/Analyst Coverage section of the website at www.viscom.com.

The Investor Relations department can be contacted at the following address:

Viscom AG Investor Relations Sandra M. Liedtke Carl-Buderus-Str. 9-15 30455 Hanover e-mail: [email protected] Tel.: +49 511 94996-791 Fax: +49 511 94996-555

INTERIM GROUP MANAGEMENT REPORT BASIC INFORMATION ON THE GROUP

Business model of the Group

Structure of the Company and its investees

Viscom AG, Hanover (hereinafter: Viscom AG), is the parent company of the Viscom Group (hereinafter referred to as Viscom). With subsidiaries in Asia, the Americas, Europe and Africa that are directly or indirectly wholly owned by Viscom AG, the Group has an efficient, market-oriented organisational structure. Viscom AG directly holds 85 % of the shares in Exacom GmbH. All the companies focus on their respective customer groups and their requirements. This enables them to act and respond quickly and flexibly. They also benefit from the advantages of belonging to a larger group, thus enabling the mutual sharing and utilisation of knowledge and experience. Production takes place exclusively in the Group's home base, Hanover. This means that Viscom enjoys the production advantages of one of the most highly developed industrial locations, allowing it to guarantee a very high quality level for its products.

In 2001, Viscom GmbH changed its legal form to that of a German stock corporation (Aktiengesellschaft) and became Viscom AG. The company's share capital is divided into 9,020,000 shares. 59.99 % of the shares are held by the company's founders Dr. Martin Heuser and Volker Pape, either directly or through intermediary companies and foundations. 4.98 % of the shares are held by Allianz IARD S.A. and 3.02 % by Universal-Investment-Gesellschaft mbH.

On 29 July 2008, the Executive Board, with the approval of the Annual General Meeting on 12 June 2008 and following consultation with the Supervisory Board, resolved to acquire up to 902,000 of the company's shares by 31 March 2009. The company had bought back 134,940 shares as at 31 March 2009. Viscom AG held around 1.50 % of its shares as treasury shares as at 30 September 2022.

The Executive Board of Viscom AG had four members as at 30 September 2022:

Carsten Salewski: Sales Peter Krippner: Operations Dr. Martin Heuser: Development Dirk Schwingel: Finance

The Executive Board is monitored by the three members of the Supervisory Board:

Prof. Dr. Michèle Morner (Chairwoman) Volker Pape (Deputy Chairman) Prof. Dr. Ludger Overmeyer

Segments and key locations

Viscom develops, manufactures and sells high-quality automated inspection systems for use in industrial production. The Company's business activities are broken down on the basis of work required for the project-specific adaptation of standard components and systems, and the technology used to identify potential production errors using the inspection systems.

Regionally, the company's business incorporates the European market with its headquarters in Hanover and a sales subsidiary in Paris, France, the sales market of the Americas with its subsidiary in Atlanta, USA, and the Asian market with its subsidiary in Singapore, which in turn has its own subsidiaries in Shanghai, China, Huizhou, China, and Bangalore, India. The sales company in Tunis, Tunisia, a subsidiary of the French subsidiary that cultivates and serves the North African sales market, is allocated to the geographical segment Europe.

To minimise the supply shortages for the steel frames and lead compartments needed to manufacture inspection systems, Viscom AG acquired a long-standing supplier for the manufacture of metal frames as at 1 April 2022. This company will operate exclusively for Viscom AG under the name Viscom Metallgestaltung GmbH.

Reflecting the dynamic development of the energy storage products market, Viscom AG spun off its battery cell inspection unit as at 1 July 2022. As a subsidiary, Exacom GmbH handles the development and sale of machinery for the X-ray inspection of battery cells – for all application areas, regardless of cell format or size. The subsidiary is based in Hanover at the headquarters of the Viscom Group. From here, the Exacom team is working on the expansion and further development of its product portfolio. Whether for electric mobility, energy storage or mobile devices, demand for batteries is growing and therefore so is the need for reliable inspection. The clear goal of the new Viscom subsidiary is to continue to support customers with maximum reliability and precision in manufacturing high-quality battery cells. The founding of Exacom GmbH is another systematic step towards establishing Viscom AG as a strong provider of state-of-the-art inspection systems and innovative solutions outside the automotive sector as well, and to actively leverage the opportunities arising on the growth market for energy storage products.

There were no further changes in the Group's activities or structure in the reporting period.

Business processes

The inspection systems are developed and produced at Viscom AG's headquarters in Hanover. All central functions, such as business administration, development, production, service and sales management, are based here.

The company's product development activities focus on fundamental development work for future generations of inspection systems and project-specific development to adapt basic types of machinery to meet customer-specific requirements.

Production is largely tailored to orders and relies on the in-house pre-production of various assemblies. This enables greater security of production, especially in view of precarious supply chains.

Sales activities are performed by Viscom AG's sales employees and customer care teams, its Group companies and agents acting on the market as industry representatives for mechanical engineering firms.

Operational availability is one of the most important aspects when using an inspection system. This requires regular maintenance, repair and calibration. Central service and the customer care teams assist Viscom's customers in that job. Fast reaction times are ensured thanks to the global presence of Viscom's service employees.

Major business processes are managed and supported with the help of the business software proALPHA. The order processing module included in this system is used by all Viscom locations around the world.

Legal and economic factors

Over 2022 to date, the financial markets and the world economy have continued to be affected by COVID, but also by inflation and interest concerns, supply chain shortages and the tangible rise in energy and raw material prices. For many industrial operations, disruptions in supply have been impeding production for several quarters. In mechanical engineering, the shortage of materials is by far the biggest obstacle to production. This significant shortage in various components for pre-production is also affecting Viscom AG's business and causing delays in revenue recognition. Rising energy and raw material prices in Germany are likewise having a clearly negative impact on Viscom. Please refer to the economic report below for more details on the development of the economy as a whole.

Management system

The key performance indicators by which the Viscom Group is essentially managed are incoming orders, revenue, EBIT (operating profit or segment earnings) and the EBIT-Margin (EBIT / revenue).

The management of the Group is based on a reporting system that takes the form of monthly reports submitted to management and the heads of the business areas. These monthly reports include the consolidated income statement and individual breakdowns for the various Group companies.

The reports also include a detailed presentation of the cost structure and key figures of Viscom AG and other companies of the Group. The reporting comprises the revenue in the Group's machinery installation regions, incoming orders, the order backlog, the number of employees, cash and cash equivalents, the utilisation of the overdraft facilities available, total receivables and receivables from subsidiaries, orders placed for the purchase of goods and inventories of goods and completed and partially completed systems.

In addition, they provide an overview of employee turnover, absence due to illness and revenue per capita, in addition to key indicators for project management, product development, production and logistics. The statements contained in the monthly reports are analysed in regular meetings between the Executive Board, all heads of business areas and the managing directors of the individual branches. Any need for action emerging results in decisions that are usually implemented in the short term.

Research and development

Development activities mainly focus on the advancement of existing system solutions and the im-plementation of new market requirements in the field of optical and X-ray inspection processes. This area also focuses on the definition of new products and systems. The focus of research and development activities is described in detail on pages 26 to 28 of Viscom AG's 2021 annual report. Key events and relevant achievements of the systematic continuation of these activities are presented on pages 9 to 10 of the interim report and have not changed significantly in the third quarter of 2022.

Expenditure for research and development, not including design changes for customer-specific adaptations, remained at the previous year's level. Development costs totalling € 2,191 thousand were capitalised in the first nine months of 2022 (previous year: € 1,915 thousand). Capitalised development costs were written down in the amount of € 2,086 thousand (previous year: € 1,697 thousand).

ECONOMIC REPORT

Macroeconomic and sector development

Macroeconomic development

Under the sway of high energy and raw material costs, established supply problems and major geopolitical uncertainty, the expansion of the world economy came to a halt in the spring of 2022. The growth rate of global industrial production fell off significantly as a result of Russia's invasion of Ukraine. The economic consequences of the ongoing COVID pandemic have also greatly impaired the outlook for the world economy. The explosion in energy prices and the high costs of production for companies have weighed on general economic demand as well. High inflation, for instance, is diminishing the purchasing power of private households. In the face of an uncertain economic future, companies are reining in their capital expenditure. The momentum of the world economy keeps slipping away, which is negatively affecting German exports as well.

Sector development

The inspection of electronic assemblies is Viscom's main revenue segment. Viscom is therefore predominantly represented in the automotive supplier segment within the electronics industry, one of the largest branches of industry in the world. Technical developments in the electronics industry have been a key innovation driver for Viscom over the last few years. The volumes and quality requirements of increasingly complex and ever-smaller electronic assemblies are seeing constant growth. These assemblies can only be tested reliably using automated inspection systems. Hidden solder joints, miniaturised components and densely populated printed circuit boards must be inspected safely and quickly. High resolution, reliable fault detection and high throughput are extremely important here. Viscom inspection systems are used everywhere where the requirements for precision and speed are particularly high. The main customers for Viscom products are the automotive electronics sector, manufacturers of consumer and industrial electronics, and service providers (EMS) that manufacture electronic assemblies to order for various sectors. Furthermore, Viscom systems are increasingly being used for the automated final optical or X-ray inspection of finished equipment. This includes complete assemblies from the electromobility sector, high-end mobile consumer equipment and, since 2020, significantly more lithiumion batteries in various designs.

In recent years, Viscom has intensified its efforts to gain a foothold in non-automotive industries such as battery production, telecommunication, industrial electronics and semiconductor production. In the 2021 financial year, Viscom continued to expand its position in the inspection of energy storage products with targeted developments in automated X-ray inspection and bolstered its presence on this growth market. The company has already established itself with a broader base among SMEs in Europe. At the same time, it is focusing on growth industries in the electromobility and computers, communication and consumer (3C) sectors in Asia in particular.

Machinery and equipment was manufactured for an estimated total of almost € 3 trillion worldwide in 2021. On a euro basis, this is around 15 % more than in the pandemic year of 2020. In China alone, the revenue volume now amounts to almost € 1.1 trillion. As in previous years, China thus holds the top spot in international rankings. Despite obstacles to production due to supply chain disruptions, Germany remained in third place with estimated revenue of € 311 billion, just behind the US in second place (€ 347 billion). The 27 countries of the European Union together account for a quarter of global machinery revenue at € 748 billion.

Mechanical engineering companies are facing a complex mix of new and existing challenges worldwide. While the war in Ukraine is affecting Europe in particular, supply chain disruptions and shortages, the COVID pandemic and higher inflation are global issues. The shortage of deliveries to mechanical engineering companies in particular has intensified again in recent months, with the result that the easing anticipated has failed to materialise this year. According to estimates by the German Mechanical Engineering Industry Association (VDMA), global machinery revenue is expected to rise by 2 % in real terms both this year and next. Given the strong order backlog for mechanical engineering companies in Germany, the VDMA assumes that production will increase slightly in 2022 as a whole. However, it estimates that production will contract by 2 % in real terms next year.

In the international race for automation, German industrial image processing is a key component for businesses. Demand for image processing components and systems outstripped expectations in 2021, with revenue in the sector rising by 16 % to € 3.1 billion in Germany. Despite the general economic uncertainty, the growth outlook for the coming years is positive, writes the VDMA's machine vision department. Over the past year, German manufacturers of industrial image processing generated 97 % of their revenue in the components (50 %) and systems (47 %) segments. The export rate of these lines is high: Manufacturers of image processing components generated 66 % of their revenue outside Germany. The strongest single market was China, with the corresponding exports up by 20 % in 2021. Manufacturers of image processing systems generated 74 % of their revenue on international markets. The manufacturing sector is the largest customer for German industrial image processing, claiming a market share of around 60 %. In image processing component and system applications, object recognition (21 %) and quality control (20 %) account for the largest market share. Industrial image processing in Germany is expected to report revenue of € 3.3 billion in 2022 – a year-on-year increase of 8 %, according to VDMA forecasts. The economic recovery in "seeing machinery" will therefore continue. The strongest demand is coming from abroad.

Target sectors, target markets and target customers

The inspection systems manufactured by Viscom are employed primarily within the electronics industry. Producers of electronic components are the main customer segment, accounting for 63 % of revenue (previous year: 68 %). Some of these companies are involved in production for end consumers. However, the majority of Viscom's customers are suppliers for other companies that manufacture products such as electronic assemblies. These supplier parts are integrated into vehicles as end products such as motor controllers. The remaining 37 % of revenue (previous year: 32 %) relates to manufacturers from other industries, such as battery production and consumer electronics.

With its optical, X-ray and combined inspection systems, Viscom is particularly well represented in production operations with the very highest quality requirements. Accordingly, its main customers are companies who make product safety a top priority. The automotive electronics sector accounts for a particularly high volume of business in this respect. With the constant growth in in-car electronics and the high reliability requirements for vehicle systems, focus is increasingly shifting to the inspection of electronic assemblies. These assemblies, which often are safety-related components, such as ABS, ESP, or airbags, are typically inspected using systems such as those offered by Viscom.

As a result of rising technological demands, including in the consumer goods industry, quality pressure is also far higher than in previous years. However, the emphasis is being placed more on process quality, as a stable process improves the delivery quality and, in particular, results in fewer rejects and hence higher levels of production efficiency. At the same time, electronics manufacturers from Asia in particular are seeking to position themselves as premium providers.

Technological developments and the accompanying technical and economic progress, combined with its international sales and service presence, have helped Viscom to expand its market position and achieve long-term customer retention. By continuously developing its products, improving its business processes and adapting its sales organisation to reflect changing conditions, Viscom is in a position to address the challenges of the future and thus maintain and expand its market position.

Close, long-term customer contacts form the basis for comprehensive and customised service. The results of this cooperation are incorporated into the development of new system solutions and the refinement of proven systems. This allows Viscom to develop new solutions and open up future markets thanks to a high degree of innovation and customer proximity.

Customer structure

Viscom generated around 52 % of its revenue with its six largest customers in the first nine months of 2022 (previous year: around 47 %). A further 30 % of revenue was generated with the 29 next-biggest customers (previous year: 22 customers). The remaining revenue was generated with a total of 338 different customers (previous year: 345 customers).

SUMMARY ANALYSIS OF THE COMPANY'S NET ASSETS, FINANCIAL POSITION AND RESULTS OF OPERATIONS AND COURSE OF BUSINESS

Results of operations

Incoming orders / order backlog

Orders totalling € 81,008 thousand (previous year: € 67,728 thousand) were received in the first nine months of 2022. This represented a substantial increase of 19.6 % as against the same period of the previous year and reflects the good placement of Viscom's inspection systems and services on the markets.

The order backlog rose significantly to € 42,988 thousand as at 30 September 2022 (previous year: € 31,846 thousand), which will ensure good capacity utilisation in all areas in the months ahead.

Revenue development

Revenue of € 22,119 thousand was recognised in the third quarter of 2022. This was 6.3 % higher than in first quarter of 2022 (€ 20,815 thousand) and 7.9 % lower than in the second quarter of 2022 (€ 24,024 thousand). Viscom's total revenue amounted to € 66,958 thousand in the first three quarters of 2022, 22.1 % higher than the previous year's figure (€ 54,820 thousand).

Operating profit (EBIT) / EBIT-Margin

EBIT amounted to € 1,885 thousand in the first three quarters of 2022 (previous year: € 1,858 thousand) with an EBIT-Margin of 2.8 % (previous year: 3.4 %). Matching the previous year's level, EBIT was held back by higher staff costs and an increase in other operating expenses. Staff costs rose to € 28,660 thousand (previous year: € 23,792 thousand) as a result of the higher headcount and pay adjustments. The previous year had also included the cost relief of working short-time. At € 9,327 thousand, other operating expenses were up significantly on the previous year (€ 6,492 thousand) due to higher expenses for administration, travel and trade fairs. Earnings were also squeezed by the rise in depreciation and amortisation (€ 5,007 thousand; previous year: € 4,380 thousand). Total operating revenue (defined as revenue plus the change in finished goods and work in progress and other own work capitalised) rose significantly by € 13,600 thousand to € 75,545 thousand (previous year: € 61,945 thousand). The cost of materials increased at a slower rate by € 5,573 thousand to € 32,639 thousand (previous year: € 27,066 thousand). Earnings also benefitted from the rise in other operating income (€ 1,973 thousand; previous year: € 1,643 thousand).

Financial result

Financial income amounted to € 5 thousand (previous year: € 0 thousand). Financial expenses of € 380 thousand (previous year: € 202 thousand) resulted from interest on lease and bank liabilities. The financial result was negative at € -375 thousand and lower than the previous year's figure (€ -202 thousand).

Net profit for the period

The net profit for the period was € 1,075 thousand (previous year: € 1,195 thousand). The effects in operating profit described above and the financial result also affected net profit for the period. Earnings were also reduced by income tax expenses within this item.

The pre-tax return on sales was 2.3 % (previous year: 3.0 %).

Earnings per share

Based on 8,885,060 shares, earnings per share (basic and diluted) amounted to € 0.12 (previous year: € 0.13) as at 30 September 2022.

Exchange rate effects

As it operates internationally, Viscom is exposed to exchange rate risks. Given the Company's business volumes and the development of the euro/US dollar exchange rate, the current level of exchange rate risk was deemed acceptable without the need for hedging. 29.9 % of total revenue was subject to direct exchange rate effects (previous year: 14.0 %). The rise in exchange rate effects was due to the Americas region accounting for a higher share of total revenue. Viscom reserves the right to hedge exchange rates in individual cases.