Viscom AG / Half Year Results

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Viscom AG: Revenue development again behind expectations; positive order development

- First half year 2007 revenues of € 19.2 million
- Order backlog of € 14.1 million – a plus of 60.2 %
- 30 % rise in orders from the region of the future, Asia
Hanover, 1 August 2007 – Revenues of the Viscom AG, European market leader in automatic optical inspection systems for the electronics industry, remained behind expectations once again. The Group earned revenues of € 19,179 thousand, a drop of 21.6 % from the previous year's half year (€ 24,474 thousand). As a result of seasonal fluctuations, Viscom normally posts the majority of annual revenues during the second half year and especially in the fourth quarter. Yet the current revenue development cannot be attributed solely to seasonal fluctuation; a reserved purchasing stance on the part of certain customers who are awaiting the imminent deliverability of a new inspection system, as well as the currently reduced investment activity of a key customer of the Viscom Group, are more at issue here.

The comparatively high order intake during the period under review, however, can partially offset the significance of the lag in revenues: with € 24.7 million it stands at nearly the same level as the previous year (€ 24.9 million). 'The order backlog at the end of the first half year 2007 is particularly encouraging. With € 14.1 million, it stands € 5.3 million over the value at the previous half year,' comments Ulrich Mohr, board member and financial officer of the Viscom AG. 'The high order backlog shows the initial success of the measures implemented by Viscom and allows us to regard the development of the entire year 2007 with optimism,' adds Volker Pape, board member and company founder of the Viscom AG. Above all, the high order intake from Asia – up 30 % over the previous year's period – is extremely promising.

During the period under review, EBIT reached € -1,053 thousand, after € 4,092 thousand for the comparable period last year; results after taxes amounted to € 633 thousand (previous year, € 566 thousand). This decline is primarily due to the high ratio of fixed costs in operating overheads, with the result that there is no corresponding reduction in expenses to offset the lower revenues. The Viscom Group raised its personnel base by 17.3 % year on year to prepare for its technical and regional expansion. The additional staff costs are now having their full impact. As well, Viscom continues to invest heavily in research and development.
With the project 'Strategy 2010', the internal structures of the Viscom Group are also being revised and optimized in light of the requirements of a globally expanding organization. The goals of this offensive are also to strengthen international sales and service capacities and increase brand recognition worldwide for the Viscom name.

Based on the factors stated above, the Company management projects revenues between € 51 and 54 million and an EBIT margin between 6 and 9 % for the year 2007. This is a departure from the original revenue projections, € 57 to 60 million with a double-digit EBIT.

'We remain convinced that the measures we have implemented will leverage the numerous promising development opportunities for the Viscom Group, and fulfill our revenue expectations in the medium and long term,' comments Dr. Martin Heuser, board member and company founder of the Viscom AG.
Insofar as this notice contains prognoses or expectations or concerns statements regarding the future, these statements may be marked by risk and uncertainty. Thus we cannot guarantee that the expectations will prove themselves correct. Actual events and developments may deviate significantly from the expectations and assumptions expressed herein. Among the factors which may cause deviation are changes in the general economic situation, the competitive situation, exchange rates, interest rates and changes in national and international laws, among others. Thus the company assumes no responsibility to realize the statements conveyed within this notice.

Key figures of the Viscom AG

Company information

H1 2007

Key figures Jan.- June 2007 Jan.- June 2006 Revenue 19,179 24,474 EBIT -1,053 4,092 EBIT margin -5.5 % 16.7 % Financial result 546 184 Taxes on income -126 -1,667 Net profit for the period -633 2,609 Earnings per share -0.07 0.29 Number of shares 9,020,000 9,020,000 Number of employees 366 312





Contact:
Viscom AG
Investor Relations
Katharina Blanke
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-861
Fax:  +49-511-94996-555
katharina.blanke@viscom.de


DGAP 01.08.2007 

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Language:     English
Issuer:       Viscom AG
              Carl-Buderus-Strasse 9-15
              30455 Hannover
              Deutschland
Phone:        +49 (0) 511 94 996 861
Fax:          +49 (0) 511 94 996 555
E-mail:       katharina.blanke@viscom.de
Internet:     www.viscom.com
ISIN:         DE0007846867
WKN:          784686
Indices:      
Listed: Amtlicher Markt in Frankfurt (Prime Standard), Hannover; Freiverkehr in Berlin, Düsseldorf, München, Stuttgart  
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