Viscom : records further revenue and earnings growth in third quarter. Management confirms forecast for 2017 as a whole. (2024)

DGAP-News: Viscom AG / Key word(s): 9-month figures/Quarter Results
Viscom AG records further revenue and earnings growth in third quarter. Management confirms forecast for 2017 as a whole.

14.11.2017 / 07:55
The issuer is solely responsible for the content of this announcement.

Viscom AG records further revenue and earnings growth in third quarter.
Management confirms forecast for 2017 as a whole.

Incoming orders: EUR 65,815 thousand (previous year: EUR 57,334 thousand, +14.8 %)
Revenue: EUR 64,519 thousand (previous year: EUR 50,775 thousand, +27.1 %)
Operating profit (EBIT): EUR 9,626 thousand (previous year: EUR 4,110 thousand, +134.2 %)
EBIT-Margin: 14.9 % (previous year: 8.1 %)

Hanover, 14 November 2017 - Die Viscom AG (ISIN DE0007846867) reported strong business performance in all sales regions in the first half of 2017, and this extremely positive development continued in the third quarter of the current financial year.

Incoming orders increased by 14.8 % year-on-year, while revenue reached a new record high of around EUR 65 million. This revenue growth in the third quarter was primarily driven by the strong performance of the serial products business area, with increased system sales of the X7056RS range of inspection systems and the S3088 product family in particular. This again underlines the fact that the Viscom Group's developments, product range and global positioning are continuing to win over the markets and satisfy customers' requirements.

Europe was the Viscom Group's strongest region by some distance, generating revenue of EUR 32,777 thousand in the first nine months of the 2017 financial year (previous year: EUR 33,174 thousand) and accounting for around 51 % of total revenue. Revenue in Germany amounted to EUR 14,826 thousand (previous year: EUR 13,837 thousand). Segment earnings in the Europe region totalled EUR 6,501 thousand (previous year: EUR 3,220 thousand), corresponding to a margin of 19.8 % (previous year: 9.7 %). At an encouraging EUR 39,422 thousand, incoming orders were up on the prior-year level (EUR 37,600 thousand).

Revenue in the Americas region also increased by around 48 % year-on-year to EUR 10,688 thousand in the period under review (previous year: EUR 7,228 thousand). The revenue growth was attributable to sustained positive business performance in the automotive electronics sector, particularly in Mexico, and strong demand from the consumer, computer and communications and aerospace sectors. This encouraging development is also reflected in incoming orders, which amounted to a strong EUR 10,657 thousand (previous year: EUR 8,224 thousand). At EUR 1,381 thousand, segment earnings in the Americas region more than trebled compared with the previous year (EUR 411 thousand). The EBIT-Margin amounted to 12.9 % (previous year: 5.7 %).

The Asia region reported a record level of segment revenue of EUR 21,054 thousand in the first three quarters of 2017 (previous year: EUR 10,373 thousand). This was due in particular to customer demand for 3D inspection technologies for the modernisation of their production lines. However, increased international competition is also being observed in this region. Segment earnings increased almost fourfold to EUR 2,012 thousand (previous year: EUR 513 thousand). This was due to the substantial revenue growth and the below-average increase in cost items in comparison. In line with this development, the EBIT-Margin amounted to 9.6 % (previous year: 4.9 %). Incoming orders in this region increased by around 37 % year-on-year to EUR 15,736 thousand in the first nine months of the current financial year (previous year: EUR 11,510 thousand).

As a result of the Group's revenue growth, the positive contribution from all of its subsidiaries and divisions and a below-average rise in personnel costs and other operating expenses as a proportion of revenue, operating profit increased by around 134 % year-on-year to EUR 9,626 thousand (previous year: EUR 4,110 thousand). This resulted in an EBIT-Margin of 14.9 % (previous year: 8.1 %). Net profit for the period increased significantly, from EUR 2,690 thousand in the previous year to EUR 7,014 thousand. The effects discussed under operating profit above also had an impact on net profit for the period. Tax expense developed positively as a result of the lower level of deferred taxes for capitalised development costs in particular.

Looking to the fourth and final quarter of the current year and the Viscom Group's future development, an order backlog of around EUR 19 million as at 30 September 2017 will have to be processed over the coming months. This means production capacity utilization is extremely high, and work on innovative products and components is taking place in a wide range of areas.

Under the motto "Solutions for me.", the Viscom Group will present pioneering solutions for optical inspection systems using 3D technology at the world's leading trade fair, productronica, in Munich in November 2017. These new innovations focus on the challenges resulting from increasingly frequent product changeovers and higher production volumes, miniaturisation, and Industry 4.0.

The highlight of Viscom's appearance at the trade fair will be the automatic 3D X-ray inspection system X7056-II, which has been developed to meet the requirements of high-end electronics production. Another highlight will be the multifaceted 3D AOI portfolio, from the S3088 ultra gold premium solution with its brilliant image quality, high resolution and unparalleled error recognition, through to the high-performance S3088 ultra chrome. These 3D AOI systems are based on a combination of intelligent software and an optimal camera concept for the 3D measurement of components and solder joints. The result is clear error identification and hence long-term quality assurance and process control.

For major global companies, Viscom is also meeting demand for the integration of its inspection systems into Industry 4.0 process lines, allowing systems to be networked with each other and with master computers to satisfy various standards. With a view to big data, Viscom's systems provide large volumes of information for the analysis of the entire production process. This valuable information can be used in concert with various Viscom systems. At the same time, Viscom Open Interface 4.0 also allows products from other providers to be connected with Viscom systems in order to enable complete traceability and sustainable process optimisation.

In light of these developments and the Group's business structures and strategies, the management is confident that the targets for the 2017 financial year will be achieved. The forecasts for the year as a whole that were published previously are therefore being confirmed, with revenue of between EUR 87 million and EUR 92 million and an EBIT-Margin of between 14 % and 16 %.

SEGMENT INFORMATION

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

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