2023 INTERIM REPORT as at 30 September 2023

Content

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
13 Regional developments
14 Financial position
15 Net assets 16 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 2023

Economic conditions

Other disclosures

IFRS interim consolidated financial statements

20 Consolidated statement of comprehensive income
21 Consolidated statement of financial position: assets
22 Consolidated statement of financial position: equity and liabilities
23 Consolidated statement of cash flows
24 Statement of changes in equity

Selected notes

Notes to the consolidated statement of comprehensive income
Responsibility statement
Financial calendar 2023
Viscom structure

Operating figures

Profit and loss

		9M 2023	9M 2022

Revenues	K€	80,207	66,958
EBIT	K€	2,612	1,885
Net profit for the period	K€	781	1,075

Balance sheet and cashflow statement figures

	9M 2023	9M 2022

K€	127,764	107,132
%	45.5	53.0
K€	-366	-3,463
K€	-3,548	-3,770
K€	-6,525	-3,957
K€	-28,369	-17,035

		9M 2023	9M 2022
Result per share	€	0.11	0.12

Employees

	9M 2023	9M 2022
Employees on 30 September	595	551

VISCOM. Vision Technology.

Founded:

1984 by Dr. Martin Heuser and Volker Pape

Number of employees worldwide: 595

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, USA Viscom Machine Vision Pte Ltd., Singapore Viscom Machine Vision Trading Co. Ltd., Shanghai, China VICN Automated Inspection Technology (Huizhou), Huizhou, China Co., Ltd VISCOM MACHINE VISION (INDIA) PRIVATE LIMITED, Bangalore, India Viscom Metallgestaltung GmbH, Langenhagen/ Hanover, Germany Exacom GmbH, Hanover, Germany VISCOM VXS S. DE R.L. DE C.V., Zapopan/ Guadalajara, Mexico

Foreword by the Executive Board

Viscom AG's positive business performance continued in the third quarter of 2023 and – as in the previous year – a strong fourth quarter is on the horizon. Demand for our inspection systems and services remains very high. Business activity again led to our highest incoming orders in the first three quarters since the company was founded, an increase of around 11 % year-on-year to € 90.2 million (previous year: € 81.0 million). At € 80.2 million, revenue in the first nine months of 2023 was around 20 % higher than the previous year's figure (€ 67.0 million). Revenue recognition continued to be hampered by ongoing material shortages. This affected, among other things, specialised parts for optics and the machine drives. At € 2.6 million, EBIT in the first nine months of 2023 was higher than in the previous year (€ 1.9 million) despite increased material and other operating expenses. The EBIT-Margin was 3.3 % (previous year: 2.8 %). The result for the period totalled € 0.8 million (previous year: € 1.1 million) and was significantly impacted by the sharp rise in financial expenses to € -1.4 million (previous year: € -0.4 million).

This sharp rise in incoming orders was driven by high demand in Europe, especially from our major customers. Also, our subsidiary Exacom GmbH also received two major orders in the 2023 financial year to supply X-ray inspection systems to customers in the battery cell production sector. The first order has a total volume of around € 5 million and will affect revenue in the 2023 financial year. Most of the second major order of € 4.9 million will be carried out in the 2024 financial year. This is the successful outcome of our strategy of unlocking special revenue potential in the inspection of energy storage products – i.e. in the inspection of battery cells.

At the annual Technology Forum at the Viscom AG campus in Hanover in September 2023 current sector trends, new technological developments and discussions between experts took centre stage. Key issue was artificial intelligence, with a particular focus on its use in and with Viscom's smart inspection systems. As well as AI, Viscom used this year's Technology Forum to showcase the latest features of its digital multi-purpose platform vConnect. vConnect allows users to easily digitalise workflows and manage them centrally via tablets, smartphones and other devices. From an effective and expert IT service for Viscom inspection systems and related peripheral hardware to fully automated predictive maintenance to training and forward-looking cloud solutions, there are many possible uses. In terms of the inspection results, this also includes statistical process control using Viscom's vSPC 2.0 software. Other exciting topics at the 2023 Viscom Technology Forum included practical examples relating to sustainability, inline X-rays for power electronics and current developments in automated optical wire bond inspection and manual X-ray inspection. The twoday event came to an impressive close with a company tour, which provided an insight into production and logistics, and innovation tours of inspection systems on display, which allowed groups to experience Viscom's inspection technology at first hand.

We are confident that we will achieve our objectives for the current financial year thanks to our sustainable and marketoriented business policy and the great dedication of our employees. We continue to forecast incoming orders and revenue of between € 110 million and € 120 million in the 2023 financial year, with the EBIT-Margin coming in at between 5 % and 10 %. This corresponds to EBIT of between € 5.5 million and € 12.0 million.

We welcome your continued support and would like to thank you for your confidence in us.

The Executive Board

Carsten Salewski Dr. Martin Heuser Dirk Schwingel

Viscom's shares

Basic information on the 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 2 January 2023	€ 8.80
Closing price on 29 September 2023 *	€ 8.00
Percentage change	-8.9 %
High on 26 April 2023 *	€ 10.90
Low on 26 September 2023 *	€ 7.90
Market capitalisation as at 29 September 2023	€ 72,160,000

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

Share price performance

in the reporting period 1 Jan. – 30 Sep. 2023

Viscom's shares began the current financial year at a price of € 8.80 on 2 January 2023. European stock markets then saw a rapid price increase and thus a tremendous start to the 2023 stock market year. Persistently high inflation and central bank monetary policy were the decisive issues and led to a consolidation of market barometers over the course of the first quarter of 2023. Recurring interest rate worries, concerns over demand and the fear of a new banking crisis put investor confidence to the test. At the start of the second quarter of 2023, the upward trend on the stock markets continued despite the concerns over inflation and recession. In this stock market environment, Viscom's shares reached their high for the year to date on 26 April 2023, closing at € 10.90. The stock markets then moved a long stretch sideways in a tight trading range because of a lack of incentive to buy. Towards the end of the second quarter of 2023, the positive sentiment on the stock markets was again unharmed by the repeatedly cited stress factors such as rising interest rates and a looming recession. After the dividend was distributed, Viscom's shares made a slight downward movement. Stock market volatility picked up again at the start of the third quarter of 2023. After substantial gains in the first half of 2023, stock exchanges initially came down from their highs. Weak economic data again prompted fears of a recession and depressed sentiment. In August, a sparser news flow and the absence of many market participants due to public holidays caused a significant drop in prices and also increased financial market volatility. This shift in sentiment was combined with gloomy economic prospects in China, with weak economic data in Germany and the eurozone also weighing heavily. Stock markets recovered from their lows at the end of August,

Share price performance as against the DAX and TecDAX in the first nine months of 2023

propped up by hopes that the cycle of central bank interest rate hikes would soon come to an end. In September, a traditionally weak month for stock markets, investors applied the brakes in view of numerous stress factors. The focus of financial markets moved to interest rates as a result of the important meetings held by global central banks. The rapid hike in the price of oil sparked a resurgence in fears about inflation and a recession and led to losses on stock markets. 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 € 7.90 on 26 September 2023. The average price of Viscom's stock was € 9.45 in the first nine months of 2023, closing at € 8.00 per share on 29 September 2023.

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 60.12 % 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. 4.92 % of the shares are held by Allianz Retraite S.A. and a further 3.02 % by Universal-Investment-Gesellschaft mbH. The 30.44 % of shares in free float are held primarily by investors in Germany and other European countries.

Shareholder of long standing 60.12 %

Change of the company's legal form into a European Company (Societas Europaea, SE)

With the Supervisory Board's approval, the Viscom AG Executive Board resolved to prepare to convert the company into a European Company (Societas Europaea, SE) while preserving its legal identity. The change of legal form from a German stock corporation (Aktiengesellschaft) into a European Company makes Viscom AG's self-image as a European and global company part of its external identity, as well. The supranational legal form fosters an open and international corporate culture. This will allow employees – especially those from abroad – to identify more strongly with the Viscom Group. The Societas Europaea is also an attractive legal form for international contract partners and for the acquisition of qualified staff. Finally, the legal form of the European Company offers the opportunity to maintain and enhance Viscom AG's corporate governance structure in the tried and tested two-tier management system. The responsibilities and composition of the Executive Board and the Supervisory Board are thus unaffected by the new structure. The registered office and headquarters of the company will remain in Hanover. The company will hold an Extraordinary General Meeting on 24 November 2023 to approve the change in legal form. For the conversion to the SE legal form to take effect, the procedure for an agreement concerning employee involvement in the future Viscom SE must be either completed or terminated. As a result of the SE conversion, the legal position of the shareholders of Viscom AG remains fundamentally unaffected. They will hold the same number of no-par value shares in Viscom SE as they did immediately before the change of legal form. The stock ex-change listing of Viscom shares on the regulated market (Prime Standard) of the Frankfurt Stock Exchange will also remain unaffected by the change of legal form.

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 2023. 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-Straße 9-15 30455 Hanover E: [email protected] T: +49 511 94996-791 F: +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).

Viscom AG is entered in commercial register B of Hanover District Court under number HRB 59616.

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 of 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. 60.12 % of the shares are held by the company's founders Dr. Martin Heuser and Volker Pape, either directly or through intermediary companies and foundations. 4.92 % of the shares are held by Allianz Retraite S.A. and 3.02 % by Universal-Investment-Gesellschaft mbH.

The Extraordinary General Meeting held on 20 August 2013 agreed to convert some of the committed capital reserves (€ 22,550 thousand) into free capital reserves (section 272(2) no. 4 of the Handelsgesetzbuch (HGB – German Commercial Code)) by way of an increase in the company's share capital from corporate funds without issuing new shares and a subsequent reduction in capital. This was in accordance with the proposals by the Executive Board and Supervisory Board published in the German Federal Gazette (Bundesanzeiger) on 10 July 2013.

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 2023.

The Executive Board of Viscom AG consisted of three members as at 30 September 2023:

Carsten Salewski: Sales/Operations Dr. Martin Heuser: Development/Production 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 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 the inspection systems use to identify potential production errors.

The company's business is segmented geographically by sales regions; it serves the European market from its headquarters in Hanover together with the Exacom GmbH, and a sales subsidiary in Paris, France, the sales market of the Americas from its sales subsidiary in Atlanta, USA, plus the service company in Mexico acquired in 2022, and the Asian market from its sales subsidiary in Singapore, which in turn has its own sales 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.

In addition, Viscom AG operates a company for the manufacture of metal frames, Viscom Metallgestaltung GmbH, which works solely for Viscom AG.

There were no 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 as well as project-specific development to adapt basic types of machinery to meet customer-specific requirements.

A large part of production is order-based. It draws on in-house pre-production of various assemblies. This enables greater production safety, 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

In the first nine months of 2023, there were no fundamental changes in the legal and economic environment that substantially influenced Viscom's business. 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 reviews submitted monthly 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. They provide information on revenue in the Group's sys-tems 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 implementation of new market requirements in the field of optical and X-ray inspection processes. This business area also focuses on the definition of new products and systems. The focus of research and development activities is described in detail on pages 38 to 41 of Viscom AG's 2022 annual report. Important results and relevant achievements of the systematic continuation of these activities are presented on page 9 of the interim report as at 30 June 2023 and have not changed significantly in the third quarter of 2023.

Expenditure for research and development, not including design changes for customer-specific adaptations, was up on the previous year's level. Development costs totalling € 2,534 thousand were capitalised in the first nine months of 2023 (previous year: € 2,191 thousand). Capitalised development costs were written down in the amount of € 1,694 thousand (previous year: € 2,086 thousand).

Economic report

Macroeconomic and sector development

Macroeconomic development

The global economy has expanded at a very moderate pace so far in 2023, although the recession that many feared for the advanced economies as a consequence of far tighter monetary policy failed to materialise. The US economy in particular proved surprisingly robust. By contrast, economic momentum in China was lower than expected. Advanced economies have recovered from the crises seen in recent years with varying degrees of success. The US has now fully recovered the losses suffered during the pandemic, primarily thanks to the significant boost in private consumer spending. Production levels in European countries and Japan, on the other hand, are still only marginally higher than in 2019 and are lagging far behind the previous growth trend. The United Kingdom and Germany bring up the rear. Last year's energy crisis and the drastic surge in natural gas and electricity prices as a result, which in turn unsettled consumers and companies, have affected Europe more than the US, which actually benefited as an exporter of energy commodities.

Key conditions for global economic development have improved. The disruptive factors that hampered recovery from the pandemic last year have largely disappeared: energy prices have dropped massively again, reducing inflation. China's decision to move away from its zero-COVID policy helped increase demand and means that the supply bottlenecks, which were caused not least by the stop-start production in the country, are no longer excessively disrupting economic activities. Real wages are no longer declining and in some cases are even increasing significantly thanks to lower inflation and pay rises.

Sector development

Revenue recognition at Viscom is focused on the manufacture of systems for the inspection of electronic assemblies. 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 reliably and quickly. High resolution, reliable fault detection and high throughput are extremely important here. Viscom inspection systems are used where the requirements for precision and speed are particularly high. The main customers for Viscom products are electronics manufacturers in the automotive sector, manufacturers of consumer end devices 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 end devices and in recent years also significantly more lithium-ion 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. It is focusing on growth industries in the sectors electromobility and computers, communication and consumer (3C).

The German Mechanical Engineering Industry Association (VDMA) reports that manufacturing firms in the EU were largely pessimistic in September 2023. Especially in the mechanical engineering industry, the economic situation grew even gloomier, with both the order backlog and production expectations deteriorating. Given that production expectations are still negative, production looks set to remain low. The order backlog shrunk on account of the persistent decline in demand. The automotive industry was once again more optimistic than the EU average, with France, Belgium, Sweden and Germany enjoying improved order backlogs. The stubbornly weak global economy and uncertainty among many customers are having a noticeable impact on business and on the outlook of the export-based mechanical engineering industry, according to the VDMA. The association expects production to decline by 2 % in real terms in 2023 as a whole and in 2024.

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 77 % of revenue (previous year: 63 %). Some of these companies are involved in production for end consumers. However, the majority of Viscom's customers are suppliers that manufacture products such as electronic assemblies for other companies. These supplier parts are integrated into end products, such as control units for vehicles. The remaining 23 % of revenue (previous year: 37 %) relates to manufacturers from other industries, such as consumer electronics and battery production.

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 increasing use of in-car electronics and the high reliability requirements for vehicle systems, the automotive industry is a major customer group for the inspection of electronic assemblies. These assemblies, which often are safety-related components (ABS, ESP, airbags, etc.) or control systems for autonomous driving, are typically inspected using systems such as those of-fered by Viscom.

As a result of rising technological demands, including in the consumer goods industry, pressure to improve quality 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 increasingly seeking to position themselves as premium providers.

Technological developments and the accompanying technical and economic progress, combined with Viscom's international sales and service presence, have helped to expand the 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 use its innovative strength and customer proximity to develop new solutions and thus open up future markets.

Customer structure

Viscom generated around 50 % of its revenue with its seven largest customers in the first nine months of 2023 (previous year: around 52 % with the six largest customers). A further 30 % of revenue was generated with 25 customers (previous year: 29 customers). The remaining revenue was generated with a total of 371 different customers (previous year: 338 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 € 90,232 thousand (previous year: € 81,008 thousand) were received in the first nine months of 2023. This represented a substantial increase of 11.4 % 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 to € 44,509 thousand as at 30 September 2023 (previous year: € 42,988 thousand), which will ensure good capacity utilisation in all areas in the months ahead.

Revenue development

Revenue of € 30,768 thousand was recognised in the third quarter of 2023. This was 30.3 % higher than in first quarter of 2023 (€ 23,615 thousand) and 19.1 % higher than in the second quarter of 2023 (€ 25,824 thousand). Viscom's total revenue amounted to € 80,207 thousand in the first three quarters of 2023, 19.8 % higher than the previous year's figure (€ 66,958 thousand).

Operating profit (EBIT) / EBIT-Margin

EBIT amounted to € 2,612 thousand in the first three quarters of 2023 (previous year: € 1,885 thousand). This corresponded to an EBIT-Margin of 3.3 % (previous year: 2.8 %). EBIT was held back by higher material and staff costs and an increase in other operating expenses. Staff costs rose to € 32,291 thousand (previous year: € 27,886 thousand) as a result of the higher head-count and pay adjustments. Other operating expenses increased to € 11,339 thousand (previous year: € 9,327 thousand), particularly as a result of higher legal and consulting costs, selling and travel expenses, foreign exchange differences and implementation and licence costs for a new sales and service module (CRM system). Earnings were also squeezed by the decline in other operating income (€ 924 thousand; previous year: € 1,199 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 € 15,419 thousand to € 90,964 thousand (previous year: € 75,545 thousand). Accordingly, the cost of materials was up by € 8,152 thousand at € 40,791 thousand (previous year: € 32,639 thousand). Earnings benefited from the decrease in depreciation and amortisation (€ 4,855 thousand; previous year: € 5,007 thousand).

Financial result

Financial income amounted to € 3 thousand (previous year: € 5 thousand). Financial expenses of € 1,353 thousand (previous year: € 380 thousand) resulted from interest on lease and bank liabilities. The financial result was negative at € -1,350 thousand and lower than the previous year's figure (€ -375 thousand), chiefly on account of far higher interest rates.

Net profit for the period

Net profit for the period amounted to € 781 thousand (previous year: € 1,075 thousand). The effects in operating profit described above and the financial result also affected net profit for the period. This item was also affected by income tax expenses.

The pre-tax return on sales was 1.6 % (previous year: 2.3 %).

Earnings per share

Net profit for the period attributable to Viscom AG shareholders came to € 942 thousand (previous year: € 1,108 thousand). Based on 8,885,060 shares, earnings per share (basic and diluted) amounted to € 0.11 (previous year: € 0.12) as at 30 September 2023.

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. 18.3 % of total revenue was subject to direct exchange rate effects (previous year: 29.9 %). Viscom reserves the right to hedge exchange rates in individual cases.