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Viscom AG — Investor Presentation 2015
May 13, 2015
468_ip_2015-05-13_f13e8b61-b976-4094-9591-0f8f6dab0cd9.pdf
Investor Presentation
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Viscom AG – Financial results first quarter 2015
Disclaimer
This presentation is not directed to the investment goals or financial position of any specific individual person or legal person. Investors should obtain independent expert counsel regarding the question of an investment in shares of the Viscom AG and carry out an analysis of the particular situation themselves.
Although Viscom has endeavored to deliver reliable, complete and up-to-date information with this presentation, the company can accept no liability for the accuracy, completeness or topicality of this information.
Certain statements in this presentation which are based on information available at present are forward-looking statements or contain specific expectations for the future. Such statements, by their nature, are subject to risks and uncertainties. Circumstances such as the general economic development, future market conditions, changes in the capital markets and other circumstances can lead to significant deviation of the actual events or results.
The information in this presentation serves general informational purposes and is neither an offer nor part of an offer or any other request to acquire, subscribe to or sell securities issued by Viscom.
Highlights Q1 2015
- Incoming orders: 15,825 K€ (previous year: 15,601 K€)
- Group revenue: 17,195 K€ (+57.3 %)
- EBIT: 2,514 K€ (+197.9 %)
- EBIT-Margin: 14.6 % (previous year: 7.7 %)
- Management confirms annual forecast for 2015
Incoming orders and order backlog according to regions
| Q1 2014 | Q1 2015 | ||||
|---|---|---|---|---|---|
| Incoming orders | K€ | 15,601 | 15,825 | 1.4% | |
| thereof Europe | K€ | 11,036 | 9,452 | $-14.4%$ | |
| thereof Asia | K€ | 1,492 | 3,181 | 113.2% | |
| thereof Americas | K€ | 3,073 | 3,192 | 3.9% | |
| Order backlog | K€ | 14, 112 | 12,662 | $-10.3%$ |
Group revenue by quarters
EBIT and EBIT-Margin
According to the VDMA, the average EBIT-Margin in the German engineering sector is at around 6 %.
Segment information according to regions*
| Europe | Q1 2014Q1 2015 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Percentage of |
K€ | 6,432 | 9,674 | 50.4% | ||||||
| total revenue | % | 58.8 | 56.3 | |||||||
| EBIT | K€ | 477 | 1,507 | 215.9% | ||||||
| EBIT-Margin | % | 7.4 | 15.6 | |||||||
| Americas | Q1 2014Q1 2015 | Asia | Q1 2014 | Q1 2015 | ||||||
| Revenue | K€ | 1,984 | 4,184 | 110.9% | Revenue | K€ | 2,515 | 3,337 | 32.7% | |
| Percentage of total revenue |
% | 18.2 | 24.3 | Percentage total revenue |
of % |
23.0 | 19.4 | |||
| EBIT | K€ | 203 | 600 | 195.6% | EBIT | K€ | 140 | 787 | 462.1% | |
| EBIT-Margin | % | 10.2 | 14.3 | EBIT-Margin | % | 5.6 | 23.6 |
* without consideration of consolidation differences in EBIT
Core indicators of consolidated income statement
| Core indicators of consolidated income statement |
Q1 2014 | Q1 2015 | |||
|---|---|---|---|---|---|
| K€ | $%$ to To | K€ | $%$ to To | ||
| Group revenue | 10,931 | 81.0% | 17,195 | 94.5% | |
| Total output (To)* | 13,489 | $100.0\%$ | 18,189 | 100,0% | |
| Cost of materials | $-5,624$ | $-41.7%$ | $-7.046$ | $-38.7%$ | 11 |
| Staff costs | $-4,960$ | $-36.8%$ | $-5,666$ | $-31.2%$ | 11 |
| EBIT (% according to revenue) | 844 | 7.7% | 2,514 | 14.6% |
Core indicators of balance sheet and cash flow statement
| Core indicators of balance sheet | 31.12.2014 K€ |
31.03.2015 K€ |
|---|---|---|
| Cash and cash equivalents | 16,933 | 19,118 |
| Current liabilities | 9,264 | 9,132 |
| Non-current liabilities | 1,610 | 1,618 |
| Interest-bearing liabilities | 0 | 0 |
| Total shareholders' equity | 53,584 | 56,040 |
| Consolidated cash flow statement | 31.03.2014 | 31.03.2015 |
| Cash flow from operating activities | $-387$ | 2,473 |
| Cash flow from investing activities | $-473$ | $-601$ |
| Free cash flow | $-523$ | 2.301 |
Group key figures
| Key figures on net assets, financial position and results of operations |
31.03.2014 in $K \in$ |
31.03.2015 in $K \in$ |
|---|---|---|
| Return on investment (ROI) Net profit for period / total assets |
0.9% | 2.7% |
| Return on sales EBT / revenue |
8.2% | 14.7% |
| Return on capital employed (ROCE) EBIT / (total assets - cash and cash equivalents - current liabilities and provisions) |
2.5% | 6.5% |
| Equity ratio Equity / total assets |
86.6% | 83.9% |
The Viscom share
| Listing | Regulated market (Prime Standard*) |
|---|---|
| ISIN | DE 000 7846867 |
| Number of shares | 9,020,000 pieces |
| Number of voting shares | 8,885,060 pieces |
| Market capitalisation as of 31.03.2015** |
€ 148.38 million |
| Share price as of 31.03.2015** |
€ 16.45 |
*) admission to Prime Standard in regulated market of FSE, effective 22.01.2015
**) all price data on the basis of XETRA daily closing prices
Objectives and Forecast
- Viscom benefits from megatrends and growth perspectives of electronics market
- Market leader for SMT inspection in the challenging automotive segment
- Successful entry into the 3C market
- Additional growth potential into other segments through diversification
- Excellent reputation due to good market positioning
- Highly attractive dividend - dividend payout ratio of at least 50 % of net profit
- Future acquisitions possible
Thank you for your attention
Headquarters: Viscom AG Carl-Buderus-Str. 9 - 15 · 30455 Hanover Tel.: +49 511 94996-0 · Fax: +49 511 94996-900 [email protected]
Contact Investor Relations: Viscom AG, Anna Borkowski Carl-Buderus-Str. 9 – 15 · 30455 Hanover Tel.: +49 511 94996-861 · Fax: +49 511 94996-555 [email protected]
You will find our international subsidiaries and representatives in Europe, the USA and Asia under: www.viscom.com