Profitable 2012 financial year for Viscom AG


Viscom AG / Key word(s): Final Results

26.03.2013 / 07:30


Profitable 2012 financial year for Viscom AG

- Revenue slightly below target at EUR 50,037 thousand

- EBIT margin of 18.5 % exceeds expectations

- Revenue in the Americas region up 29 % year on year

- Proposed dividend: EUR 0.60 per share

Hanover, 26 March 2013 - Viscom AG (ISIN DE0007846867), European market leader for high-quality automated optical inspection systems in the electronics industry, again presented itself well on the market in the 2012 financial year, again achieving a high profit margin.

Viscom AG was not quite able to match the revenue generated in its record year 2011. Even the strong performance in the second half of the year and positive year-end business figures could not fully offset last year's weak second quarter. At EUR 50,037 thousand, Group revenue in 2012 fell slightly short of expectations, down 6.5 % year on year (previous year: EUR 53,499 thousand).

However, income figures in the past financial year were particularly encouraging, even exceeding Viscom AG's own annual forecast. At 18.5 %, the Company's EBIT margin is very good when compared to the rest of the industry. In absolute terms, earnings before interest and taxes (EBIT) amounted to EUR 9,248 thousand (previous year: EUR 12,014 thousand).

Revenue in Germany in the amount of EUR 18,367 thousand decreased by approximately 25 % compared to the previous year (previous year: EUR 24,345 thousand). This was due to the continued outsourcing of product capacities abroad and the abating backlog in recent years. In Europe, revenue was up approximately 12 % year on year at EUR 14,103 thousand (previous year: EUR 12,554 thousand). As in the previous year, impulses from the relocation and development of production capacity in Eastern Europe continued in 2012. The Europe region generated total revenue of EUR 32,470 thousand (previous year: 36,899 thousand). Earnings before interest and taxes (EBIT) amounted to EUR 7,796 thousand (previous year: EUR 10,439 thousand).

Total revenue in Asia declined by approximately 10 % to EUR 8,954 thousand (previous year: EUR 9,936 thousand) due mainly to the strong competition among low-cost providers in the region. Earnings before interest and taxes (EBIT) amounted to EUR 494 thousand (previous year: EUR 1,072 thousand).

The US economy recovered only moderately in the year under review. Despite this, Viscom achieved decidedly positive revenues in this region. At EUR 8,613 thousand, Viscom's revenue in this segment was up approximately 29 % year on year (previous year: EUR 6,664 thousand). Earnings before interest and taxes (EBIT) amounted to EUR 958 thousand (previous year: EUR 503 thousand).

Net profit for the period declined from EUR 8,496 thousand in the previous year to EUR 6,638 thousand.

The Executive and Supervisory Boards will propose to the Annual General Meeting that a dividend of EUR 0.60 per share be paid, corresponding to a dividend payout ratio of more than 80 %. The dividend yield amounts to 7.9 % on a closing price of EUR 7.60 per share on 31 December 2012.

At EUR 47,427 thousand, incoming orders for 2012 were down approximately 7 % on the value of EUR 50,931 thousand for the previous year. Order backlog declined to EUR 8,302 thousand at the end of 2012 (previous year: EUR 10,912 thousand).

For 2013, Viscom AG's Management anticipates an increase in revenue of around 10 % on the previous year. The EBIT margin will likely be somewhere between 13 % and 17 %.

The Annual Report 2012 is now available on the Company website www.viscom.de in the Investor Relations section.

Any forecasts, expectations or forward-looking statements included in this report may carry risks and uncertainties. We therefore cannot guarantee that these assumptions will turn out to be correct. Actual results and developments may vary significantly from the forecasts and assumptions made in this report. Factors that may lead to such deviations include changes to the general economic development and competitive position, exchange rate and interest rate fluctuations as well as amendments to national and international laws. The Company does not assume any responsibility for updating the statements contained in this report.
KEY FIGURES OF THE GROUP

    2012 2011
Revenue KEUR 50,037 53,499
EBIT KEUR 9,248 12,014
EBIT margin % 18.5 22.5
Net profit for the period KEUR 6,638 8,496
Total assets KEUR 72,505 72,480
Equity ratio % 85.9 86.0
Cash flow statement KEUR 9,520 11,535
CF from operating activities KEUR -1,594 -8,814
CF from investing activities KEUR -6,665 86
Cash and cash equivalents at end of period KEUR 30,014 28,810
Earnings per share EUR 0.75 0.96
Employees at end of year   286 273

SEGMENT INFORMATION

    2012 2011
EUROPE      
Revenue KEUR 32,470 36,899
EBIT KEUR 7,796 10,439
EBIT margin % 24.0 28.3
ASIA      
Revenue KEUR 8,954 9,936
EBIT KEUR 494 1,072
EBIT margin % 5.5 10.8
AMERICAS      
Revenue KEUR 8,613 6,664
EBIT KEUR 958 503
EBIT margin % 11.1 7.5




Contact:
Viscom AG
Investor Relations
Sandra M. Liedtke
Carl-Buderus-Str. 9-15
30455 Hannover
Tel.: +49-511-94996-850
Fax: +49-511-94996-555
investor.relations@viscom.de


End of Corporate News


26.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de



205043  26.03.2013