Viscom AG: Strong start to 2017 financial year. Viscom records revenue and earnings growth in first quarter.

Incoming orders: EUR 20,156 thousand (previous year: EUR 14,792 thousand, +36.3 %)
Revenue: EUR 19,542 thousand (previous year: EUR 11,124 thousand, +75.7 %)
Order backlog: EUR 18,684 thousand (previous year: EUR 15,484 thousand, +20.7 %)
EBIT: EUR 2,658 thousand (previous year: EUR -1,221 thousand)
EBIT-Margin: 13.6 % (previous year: -11.0 %)

Hanover, 11 May 2017 - Viscom AG (ISIN DE0007846867), the European market leader for automated optical inspection systems in the electronics industry, enjoyed an excellent start to the 2017 financial year in which it built on its strong performance in 2016. The Lower Saxony-based mechanical engineering company generated revenue of EUR 19,542 thousand in the first quarter, up 75.7 % on the same period of the previous year (EUR 11,124 thousand). In the past, and particularly in the first quarter of 2016, the first three months of the financial year have typically seen weaker revenue figures. Instead, Viscom achieved a new record level of revenue this year, improving by some distance on the previous record set in the first quarter of 2015. This was due to the processing of the high order backlog that we had on our books at 31 December 2016 as well as the substantial volume of incoming orders recorded in the first quarter of 2017, some of which resulted in revenue in the period under review.

At EUR 20,156 thousand, incoming orders were also up around 36 % year-on-year after the first three months of the current financial year, while orders on hand increased by around 21 % to EUR 18,684 thousand. There are currently no signs of a slowdown in demand for inspection systems; instead, the Viscom Group is continuing to benefit from the steady growth in customer interest in its products and services.

Viscom has again succeeded in setting new records and demonstrating that its strategic approach is the right one. All of the segments of the Viscom Group started the new financial year with growth. At around 48 %, Europe was by far the Group's strongest region in terms of total revenue. Revenue in this region amounted to EUR 9,338 thousand (previous year: EUR 7,817 thousand). Revenue increased by around 19 % as against the previous year. This was primarily due to higher system sales. Revenue in Germany amounted to EUR 3,915 thousand (previous year: EUR 3,840 thousand).

The Asia region enjoyed extremely strong revenue performance in the first quarter of 2017 thanks to the high order backlog at the end of 2016. At EUR 7,716 thousand, Group revenue in Asia even increased more than fourfold compared with the same period of the previous year (EUR 1,766 thousand). This was also reflected in segment earnings for the region, which amounted to EUR 649 thousand (previous year: EUR -271 thousand), corresponding to an EBIT-Margin of 8.4 % (previous year: -15.3 %). By contrast, upgrade and service orders were slightly weaker than anticipated, but the sales team did succeed in generating additional orders for the Viscom Group from the automotive supplier sector in particular. Incoming orders amounting to EUR 4,595 thousand were up around 30 % year-on-year (previous year: EUR 3,548 thousand).

Revenue in the Americas region increased by around 61 % year-on-year to EUR 2,488 thousand (previous year: EUR 1,541 thousand). This was due to positive business performance in the automotive electronics sector and healthy demand for X-ray inspection systems from US service providers in the high-end consumer, computer and aerospace sector. This had a corresponding impact on segment earnings, which were significantly higher than in the same period of the previous year at EUR 235 thousand (previous year: EUR -121 thousand). In line with this development, the EBIT-Margin amounted to 9.4 % (previous year: -7.9 %). Incoming orders for this region more than doubled to EUR 3,500 thousand (previous year: EUR 1,701 thousand).

As a result of the Group's substantial revenue growth and strong performance in all of its divisions, operating profit increased significantly year-on-year to EUR 2,658 thousand. At 13.6 %, the EBIT-Margin was up 24.6 percentage points on the prior-year figure of -11.0 %. Net profit for the period increased from EUR -1,326 thousand in the previous year to EUR 1,880 thousand.

In light of the strong figures for the first quarter, the management is confident that it will be able to meet its targets for the 2017 financial year thanks to its sustainable, market-oriented business policy and the outstanding personal commitment of the Viscom's employees.

The management is confirming its revenue target of between EUR 80 million and EUR 85 million and an EBIT-Margin of between 13 % and 15 % for the 2017 financial year.

The consolidated interim report for the first three months of 2017 can now be found in the Investor Relations section of the company's website at www.viscom.com/europe.

OPERATING FIGURES

Consolidated statement of comprehensive income		01.01. - 31.03.2017	01.01. - 31.03.2016
Revenue	KEUR	19,542	11,124
EBIT	KEUR	2,658	-1,221
EBIT-Margin	%	13.6	-11.0
Net profit for the period	KEUR	1,880	-1,326
Earnings per share	EUR	0.21	-0.15
Employees at the end of the quarter		393	369

 

Consolidated statement of financial position		31.03.2017	31.12.2016
Assets
Current assets	KEUR	57,177	56,383
Non-current assets	KEUR	10,263	10,254
Total assets	KEUR	67,440	66,637
Liabilities and shareholders' equity
Current liabilities	KEUR	11,078	12,047
Non-current liabilities	KEUR	2,251	2,298
Shareholders' equity	KEUR	54,111	52,292
Total capital	KEUR	67,440	66,637
Equity ratio	%	80.2	78.5

 

Consolidated statement of cash flows		01.01. - 31.03.2017	01.01. - 31.03.2016
Cash flow from operating activities	KEUR	3,971	-423
Cash flow from investing activities	KEUR	-554	-530
Cash flow from financing activities	KEUR	0	0
Cash and cash equivalents at end of period	KEUR	9,904	10,862

 

SEGMENT INFORMATION

		01.01. - 31.03.2017	01.01. - 31.03.2016
EUROPE
Revenue	KEUR	9,338	7,817
EBIT	KEUR	1,944	-851
EBIT-Margin	%	20.8	-10.9
AMERICAS
Revenue	KEUR	2,488	1,541
EBIT	KEUR	235	-121
EBIT-Margin	%	9.4	-7.9
ASIA
Revenue	KEUR	7,716	1,766
EBIT	KEUR	649	-271
EBIT-Margin	%	8.4	-15.3
EBIT consolidation differences	KEUR	-170	22

 

 

Where this release contains forecasts, expectations or forward-looking statements, these statements may be subject to risks and uncertainties. We therefore cannot guarantee that these expectations will prove to be correct. Actual results and developments may deviate significantly from the expectations and assumptions expressed. The factors causing such deviations may include changes in the general economic situation and the competitive environment, exchange rate and interest rate fluctuations, and changes to national and international legislation. The company assumes no obligation to update the statements contained in this release.

Contact:
Viscom AG
Investor Relations
Anna Borkowski
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-861
Fax: +49-511-94996-555
investor.relations@viscom.de