18.10.2013
InVision AG DE0005859698
DGAP-News: InVision AG: Warburg Research Upgrades Target Price to EUR 29.00
DGAP-News: InVision AG / Key word(s): Research Update/Preliminary
Results
InVision AG: Warburg Research Upgrades Target Price to EUR 29.00
18.10.2013 / 09:47
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InVision AG: Warburg Research Upgrades Target Price to EUR 29.00
Ratingen (Germany), 18th October 2013 - Felix Ellmann, analyst of Warburg
Research, upgrades the target share price of InVision AG (ISIN:
DE0005859698) from EUR 25.00 to EUR 29.00. The 'Buy' rating remains
unchanged. On 14th October 2013, InVision AG published its preliminary
nine-month results for 2013 and thereby met the analyst's expectations.
Ellmann explains in his research report, published on 16th October 2013,
that he raises his forecasts for InVision AG based on the respectable
figures and momentum in the SaaS field. Additionally, the risk discounts
would be reduced as the company repeatedly achieves its targets and as
visibility improved in the cloud business.
The overall revenue from software and subscriptions rose slightly from EUR
7.9 million to EUR 8.1 million. While the classic licence business
(on-premise) declined, the cloud/SaaS business improved. The annual
increase would be more than 50% on a nine-month basis and compensated for
the development in the on-premise licence business. The service revenue
remained relatively constant at EUR 1.9 million. Additionally, the belated
effects of cost cutting continued to have a positive effect.
For 2013, Ellmann anticipates a doubling of the result. With a lower cost
base and greater momentum in cloud/SaaS revenues, the analyst expects a
further increase in strong earnings for 2014. The revenues from the cloud
business are distinguished largely by the fact that they generated barely
any direct costs.
Ellmann reports that the balance sheet also reflects good operative
development. Despite the buyback of own shares to the value of EUR 0.6
million, liquid funds doubled since the end of 2012, from EUR 2.5 million
to EUR 4.9 million. The analyst expects another share buyback.
The complete Warburg Research report, 'InVision meets expectations', is now
available for download from InVision's website at:
http://www.invision.de/analyst_media_reports.
About InVision:
Since 1995, InVision has been helping its clients to optimise their
workforce management, increase their productivity and quality of work and
reduce their costs. The InVision group incorporates the brands injixo, a
cloud platform with training, workforce management and industry network,
The Call Center School, offering training, consulting and publications for
call centre professionals, Core Practice, offering strategic workforce
management consulting, and InVision WFM, a software solution for workforce
management. InVision AG (IVX) is listed in the Prime Standard Segment of
the Frankfurt Stock Exchange.
Further information: www.invision.de
Contact:
InVision AG
Investor Relations,
Jutta Handlanger
Halskestrasse 38,
40880 Ratingen (Germany),
phone: +49 (0)2102 728-444,
email: [email protected]
End of Corporate News
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Language: English
Company: InVision AG
Halskestraße 38
40880 Ratingen
Germany
Phone: +49 (0)2102 / 728-0
Fax: +49 (0)2102 / 728-111
E-mail: [email protected]
Internet: www.invision.de
ISIN: DE0005859698
WKN: 585969
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, München, Stuttgart
End of News DGAP News-Service
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