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VISCOM AG (FRA:V6C) Viscom AG continues positive business development in third quarter of 2018. Management confirms forecast for 2018 as a whole.

Directive transparence : information réglementée

13/11/2018 07:55

DGAP-News: Viscom AG / Key word(s): 9-month figures
Viscom AG continues positive business development in third quarter of 2018. Management confirms forecast for 2018 as a whole.

13.11.2018 / 07:55
The issuer is solely responsible for the content of this announcement.


Viscom AG continues positive business development in third quarter of 2018.
Management confirms forecast for 2018 as a whole.

 

- Incoming orders: EUR 72,741 thousand (previous year: EUR 65,815 thousand, +10.5 %)

- Revenue: EUR 65,032 thousand (previous year: EUR 64,519 thousand, +0.8 %)

- Order backlog: EUR 27,486 thousand (previous year: EUR 19,365 thousand, +41.9 %)

- Operating profit (EBIT): EUR 6,843 thousand (previous year: EUR 9,626 thousand, -28.9 %)

- EBIT-Margin: 10.5 % (previous year: 14.9 %)


Hanover, 13 November 2018 - Viscom AG (ISIN: DE0007846867) continued its positive business development in the third quarter of 2018. Incoming orders were up around 11 % year-on-year in the first nine months of the current financial year, while the order backlog of EUR 27,486 thousand means high capacity utilisation is ensured for the final quarter to come.

The Viscom Group continued to benefit from its customers' steadily growing interest in 3D inspection in particular. Its latest high-performance X-ray inspection system, the X7056-II, which was designed for the high-precision inspection of single- or double-sided electronic assemblies, has been very well received on the market. The revolutionary "xFastFlow" handling concept allows PCB changes in as little as four seconds, and the integrated Viscom Quality Uplink enables effective networking and process optimisation. Overall, 3D X-ray inspection has attracted a lot of attention from customers and more and more AXI systems are being provided with the "planar computer tomography" option, whereby tomographic scans allow analysis even under difficult conditions. The Hanover-based mechanical engineering company's technological developments and enhancements continue to meet with great interest on the market.

At around EUR 65 million, revenue reached the record level of the same period of the previous year. This revenue in the third quarter of 2018 was driven in particular by the strong performance of the serial products (SP) business area, with persistently strong system sales of the S3088 and X7056RS inspection system families.

Europe was the Viscom Group's strongest region by some distance, generating revenue of EUR 38,188 thousand in the first nine months of the 2018 financial year (previous year: EUR 32,777 thousand) and accounting for around 59 % of total revenue. Revenue increased by around 17 % as against the previous year. This was due primarily to higher system sales, particularly in the area of series inspection systems. Revenue in Germany amounted to EUR 18,541 thousand (previous year: EUR 14,826 thousand), an increase of a good 25 %. Segment earnings in the Europe region totalled EUR 5,333 thousand (previous year: EUR 6,501 thousand), corresponding to an EBIT-Margin of 14.0 % (previous year: 19.8 %).

Segment revenue in the Americas region declined considerably by around 37 % year-on-year to EUR 6,690 thousand (previous year: EUR 10,688 thousand). Segment earnings amounted to EUR 226 thousand (previous year: EUR 1,381 thousand), corresponding to an EBIT-Margin of 3.4 % (previous year: 12.9 %). The propensity to invest among customers in Mexico was again restrained in the third quarter of 2018 due to uncertainty concerning the future of free trade agreements, especially the North American Free Trade Agreement (NAFTA), and increased price pressure among the competition. The good demand in the USA and Canada partially compensated for the missing orders in Mexico. The slightly increased level of orders in the third quarter and the intensification of the service and replacement part business give reason to expect revenue to rise again in the fourth quarter, but these stimuli will not suffice for a return to the previous year's level in the final quarter.

In the Asia region, segment revenue of EUR 20,154 thousand was generated in the first nine months of 2018 (previous year: EUR 21,054 thousand). The revenue quality in the third quarter was diminished by aggressive competition. As the same time, investments in new capacity in the consumer electronics segment were lower than expected, so consolidated revenue in the region was slightly below the previous year's figure. Segment earnings declined slightly from EUR 2,012 thousand to EUR 1,820 thousand. The EBIT-Margin amounted to 9.0 % (previous year: 9.6 %). Customers' investment decisions for a system are increasingly determined by the supplier's entire range of services and especially the degree of digitalisation. In addition to the data exchange between the machines on the production line, integration into existing production management systems is also becoming a competitive advantage.

The general business development is also reflected in operating profit. The revenue generated in the first nine months of the current financial year and the more pronounced change in inventories meant that the cost of materials was up on the previous year. Staff costs likewise increased as a result of the capacity expansion, as well as salary adjustments. Other operating expenses were higher than in the previous year due to higher general and administrative costs and temporary staff. In contrast, other own work capitalised increased. As a result, operating profit totalled EUR 6,843 thousand in the first nine months of 2018 (previous year: EUR 9,626 thousand). This corresponds to an EBIT-Margin of 10.5 % (previous year: 14.9 %).

Overall, the Viscom Group's management remains positive about the future. Viscom AG is in a good technological and strategic position for further growth. The management expects strong year-end business for the fourth quarter and is therefore confirming the forecast for 2018 as a whole that was 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 period ended 30 September 2018 can now be found in the Investor Relations section at www.viscom.com.

OPERATING FIGURES

Consolidated statement of comprehensive income   01.01.-30.09.2018 01.01.-30.09.2017
Revenue KEUR 65,032 64,519
EBIT KEUR 6,843 9,626
EBIT-Margin % 10.5 14.9
Net profit for the period KEUR 5,256 7,014
Earnings per share EUR 0.59 0.79
Employees at end of quarter   471 402
Consolidated statement of financial position   30.09.2018 31.12.2017
Assets      
Current assets KEUR 62,457 59,889
Non-current assets KEUR 13,816 11,453
Total assets KEUR 76,273 71,342
Liabilities and shareholders' equity      
Current liabilities KEUR 16,627 11,804
Non-current liabilities KEUR 2,990 2,778
Shareholders' equity KEUR 56,656 56,760
Total shareholders' equity and liabilities KEUR 76,273 71,342
Equity ratio % 74.3 79.6
Consolidated statement of cash flows   01.01.-30.09.2018 01.01.-30.09.2017
Cash flow from operating activities KEUR -2,312 7,961
Cash flow from investing activities KEUR -3,497 -1,330
Cash flow from financing activities KEUR -5,379 -3,999
Cash and cash equivalents KEUR 399 8,846
 

 

SEGMENT INFORMATION

    01.01.-30.09.2018 01.01.-30.09.2017
EUROPE      
Revenue KEUR 38,188 32,777
EBIT KEUR 5,333 6,501
EBIT-Margin % 14.0 19.8
AMERICAS      
Revenue KEUR 6,690 10,688
EBIT KEUR 226 1,381
EBIT-Margin % 3.4 12.9
ASIA      
Revenue KEUR 20,154 21,054
EBIT KEUR 1,820 2,012
EBIT-Margin % 9.0 9.6
EBIT consolidation differences KEUR -536 -268
 

 

About Viscom
Viscom AG develops, manufactures and sells high-quality inspection systems. Its product range covers the complete range of optical inspection and X-ray inspection. The company is one of the world's leading providers in the field of component inspection for electronics production. Viscom's systems can be configured and connected according to specific customer requirements. The company's headquarters and production site are in Hanover, Germany. Viscom has an international presence with an extensive network of branches, application centres, service support centres and representatives. Formed in 1984, Viscom has been listed on the Frankfurt Stock Exchange (ISIN: DE0007846867) since 2006. Further information can be found at www.viscom.com.

Insofar as this report contains forecasts, expectations or statements relating to the future, these statements may involve risks and uncertainties. We therefore cannot guarantee that the expectations will prove correct. Actual results and developments may 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
investor.relations@viscom.de


13.11.2018 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: investor.relations@viscom.de
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

744185  13.11.2018 

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