14.08.2018
Viscom AG DE0007846867
DGAP-News: Viscom AG: Viscom impresses with positive business performance and continues stable growth with investments. Management confirms annual forecast.
DGAP-News: Viscom AG / Key word(s): Half Year Results
Viscom AG: Viscom impresses with positive business performance and continues
stable growth with investments. Management confirms annual forecast.
14.08.2018 / 07:50
The issuer is solely responsible for the content of this announcement.
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Viscom impresses with positive business performance and continues stable
growth with investments. Management confirms annual forecast.
Incoming orders: EUR 48,789 thousand (previous year: EUR 42,270 thousand,
+15.4 %)
Revenue: EUR 42,892 thousand (previous year: EUR 39,895 thousand, +7.5 %)
Order backlog: EUR 25,674 thousand (previous year: EUR 20,445 thousand,
+25.6 %)
EBIT: EUR 4,602 thousand (previous year: EUR 5,701 thousand, -19.3 %)
EBIT-Margin: 10.7 % (previous year: 14.3 %)
Hanover, 14 August 2018 - Viscom AG (ISIN DE0007846867), European market
leader for automated optical inspection systems in the electronics industry,
continued to perform well on the market in the first six months of the
current financial year. Orders totalling EUR 48,789 thousand (previous year:
EUR 42,270 thousand) were received in the first half of the year. This
represents a significant year-on-year increase of 15.4 %. The order backlog
also rose significantly to EUR 25,674 thousand as at 30 June 2018 (previous
year: EUR 20,445 thousand), corresponding to full capacity utilisation for a
good three months.
The still relatively low level of revenue in the first quarter of 2018 was
followed by a significant increase to EUR 26,114 thousand in the second
quarter of 2018 alone (previous year: EUR 20,353 thousand). Viscom's total
revenue amounted to EUR 42,892 thousand in the first half of 2018, up 7.5 %
on the same period of the previous year (EUR 39,895 thousand). This revenue
growth was driven by a substantial upturn in system sales, particularly in
the area of series systems.
Operating profit (EBIT) was still negatively influenced by muted revenue
development in the first quarter of 2018. In the second quarter of 2018,
EBIT was significantly improved by the increased revenue. EBIT amounted to
EUR 4,602 thousand in the first half of the financial year (previous year:
EUR 5,701 thousand). This corresponds to an EBIT-Margin of 10.7 % (previous
year: 14.3 %). The year-on-year decrease was due in particular to the
capacity increases made in connection with the Company's high order backlog
and forecast growth prospects. These were reflected in increased staff costs
and other operating expenses. Net profit for the period fell from EUR 4,122
thousand in the previous year to EUR 3,578 thousand. The effects discussed
under operating profit above also had an impact on net profit for the
period. Moreover, net profit was increased by the reduced income tax expense
as a result of the lower earnings and tax refunds for previous years.
Europe was the Viscom Group's strongest region by some distance, generating
revenue of EUR 25,724 thousand in the first six months of the 2018 financial
year (previous year: EUR 20,912 thousand) and accounting for around 60 % of
total revenue. Revenue increased by around 23 % as against the previous
year. This was primarily due to higher system sales with European key
accounts, particularly in the area of series inspection systems. Revenue in
Germany amounted to EUR 12,556 thousand (previous year: EUR 8,781 thousand).
Segment earnings in the Europe region totalled EUR 3,740 thousand (previous
year: EUR 4,181 thousand), corresponding to an EBIT-Margin of 14.5 %
(previous year: 20.0 %). This decrease was primarily attributable to the
effects already discussed under operating profit. At an encouraging EUR
33,116 thousand, incoming orders were up significantly on the same period of
the previous year (EUR 23,345 thousand).
Segment revenue in the Americas region declined by around 35 % year-on-year
to EUR 4,198 thousand (previous year: EUR 6,497 thousand). Segment earnings
amounted to EUR 16 thousand (previous year: EUR 642 thousand), corresponding
to an EBIT-Margin of 0.4 % (previous year: 9.9 %). Revenue development
reflected the muted incoming orders in the first quarter of 2018 and fell
below our expectations. In addition, the comparative figures for the first
half of 2017 were unusually strong. The propensity to invest among customers
in Mexico was restrained in the first half of 2018. However, some orders
from the region were received in the second quarter. We are positive with
regard to the realisation of this and other projects in the course of the
year. We expect to see a growing recovery in Mexico and are observing
healthy demand in the USA and Canada. Incoming orders in the Americas region
amounted to EUR 4,388 thousand in the first six months of the 2018 financial
year (previous year: EUR 7,937 thousand).
Viscom generated segment revenue of EUR 12,970 thousand in the Asia region
(previous year: EUR 12,486 thousand) and segment earnings of EUR 1,126
thousand (previous year: EUR 1,136 thousand), thereby maintaining the high
level recorded in the previous year. The EBIT-Margin amounted to 8.7 %
(previous year: 9.1 %). Viscom posted robust incoming orders of EUR 11,285
thousand in the Asia region in the first half of 2018 (previous year: EUR
10,988 thousand). These orders are primarily driven by technology, with the
desire to consolidate their market position prompting more and more
customers to invest in combined optical/X-ray inspection in SMT production.
In light of this encouraging business performance, we are confirming the
forecasts for the year as a whole that were published previously, with
revenue of between EUR 93 million and EUR 98 million and an EBIT-Margin of
between 13 % and 15 %.
The consolidated interim report for the first six months of 2018 can now be
found in the Investor Relations section of the company's website at
www.viscom.com/europe.
OPERATING FIGURES
Consolidated statement of 01.01.-30.06.- 01.01.-30.06.-
comprehensive income 2018 2017
Revenue KEU- 42,892 39,895
R
EBIT KEU- 4,602 5,701
R
EBIT-Margin % 10.7 14.3
Net profit for the period KEU- 3,578 4,122
R
Earnings per share EUR 0.40 0.46
Employees at end of the quarter 458 397
Consolidated statement of financial 30.06.2018 31.12.2017
position
Assets
Current assets KEU- 64,174 59,889
R
Non-current assets KEU- 13,384 11,453
R
Total assets KEU- 77,558 71,342
R
Liabilities and shareholders' equity
Current liabilities KEU- 19,548 11,804
R
Non-current liabilities KEU- 2,961 2,778
R
Shareholders' equity KEU- 55,049 56,760
R
Total shareholders' equity and KEU- 77,558 71,342
liabilities R
Equity ratio % 71.0 79.6
Consolidated statement of cash flows 01.01.-30.06.2- 01.01.-30.06.2-
018 017
Cash flow from operating activities KEU- -5,779 8,828
R
Cash flow from investing activities KEU- -2,634 -917
R
Cash flow from financing activities KEU- -5,342 -3,984
R
Cash and cash equivalents KEU- -2,189 10,251
R
SEGMENT INFORMATION
01.01.-30.06.2018 01.01.-30.06.2017
EUROPE
Revenue KEUR 25,724 20,912
EBIT KEUR 3,740 4,181
EBIT-Margin % 14.5 20.0
AMERICAS
Revenue KEUR 4,198 6,497
EBIT KEUR 16 642
EBIT-Margin % 0.4 9.9
ASIA
Revenue KEUR 12,970 12,486
EBIT KEUR 1,126 1,136
EBIT-Margin % 8.7 9.1
Consolidation differences EBIT KEUR -280 -258
Insofar as this report contains forecasts, expectations or statements
relating to the future, these statements can involve risks and
uncertainties. Therefore, we cannot guarantee that the expectations will
prove correct. Actual results and developments can differ materially from
the expectations and assumptions expressed. Factors that can cause such
differences include changes in the general economic or competitive
situation, fluctuations in exchange and interest rates, and reforms of
national and international laws. The Company assumes no obligation to update
the statements included in this report.
Contact:
Viscom AG
Investor Relations
Anna Borkowski
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-861
Fax: +49-511-94996-555
[email protected]
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14.08.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Viscom AG
Carl-Buderus-Strasse 9-15
30455 Hannover
Germany
Phone: +49 (0) 511 94 996 861
Fax: +49 (0) 511 94 996 555
E-mail: [email protected]
Internet: www.viscom.de
ISIN: DE0007846867
WKN: 784686
Listed: Regulated Market in Frankfurt (Prime Standard), Hanover;
Regulated Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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