DGAP-Adhoc: ISRA VISION AG first quarter 2007/2008

ISRA VISION AG / Quarter Results

29.02.2008

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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ISRA VISION AG first quarter 2007/2008:

Revenue growth by 27 percent in comparison to the same quarter in the
previous year, EBT margin by 15 percent, six percentage points more than in
the previous quarter
ISRA VISION AG, one of the global top five suppliers for industrial image
processing (Machine Vision) and the world's market leader for surface
inspection systems, has launched successfully into the new 2007/2008 fiscal
year (October 1, 2007 to September 30, 2008). The sales increased by 27
percent to 15.1 million Euros in comparison to the previous quarter. The
integration of the three acquisitions from the 2006/2007 fiscal year (IAL,
IAI and Parsytec) and the takeover of Metronom from the first quarter of
2007/2008 are all progressing very well. The EBT margin (profit before
taxes to total operating revenue) improved to 15 percent - six percentage
points more than in the previous quarter (Q4 2006/2007) and four percentage
points more than in the entire year (2006/2007).

ISRAs business was affected by an improved order situation in the first
quarter of 2007/2008. Its revenue in Europe and Asia turned out well. The
North-American market remained underachieved without growth impulse. ISRA
is globally the world market leader in the surface visions segment. Its
dominating market position here was further expanded. In comparison to the
corresponding period in the previous year, the total operating revenue
increased by 35 percent to 12.7 million Euros. The EBITDA improved by 13
percent, while the EBIT improved by 12 percent. The Industrial Automation
segment has been ceaselessly continuing to grow in a friendly environment.
The total operating revenue here climbed by 12 percent. The EBITDA
increased by ten percent, while the EBIT grew by five percent.

In the first quarter 2007/2008, the ISRA groups sales increased by 27
percent to 15.1 million Euros and the total operating revenue rose by 28
percent to 17.1 million Euros. The ratio of material costs to total
operating revenue dropped to 19 percent. In the previous quarter, it was
still 26 percent and 22 percent for the entire previous fiscal year. 16
percent of the total operating revenue was spent on research and
development. It was 17 percent in the previous quarter. The proportion of
the expenditure on administration fell to six percent of the total
operating revenue. It was ten percent in the previous quarter, while 8
percent in the previous fiscal year. The expenditure on sales and
administration together dropped to 20 percent of the total operating
revenue - down from 25 percent in the previous quarter and 22 percent in
the past fiscal year. In comparison to the previous year, the cash flow
from operating activities increased by 0.3 million to 1.2 million Euros. At
the end of the first quarter, the ISRA groups total assets had decreased
by 4.9 million to 138.1 million Euros. The equity ratio improved from 48.9
percent at the end of the previous fiscal year to 51.5 percent.

The integration of the four acquisitions is progressing well. The
restructuring with the objective of increasing efficiency and optimizing
productivity are close to completion. The potential synergies are being
tapped gradually. The most important organizational measures for increasing
revenues and profit have been put in motion and some of them have already
advanced very far. ISRAs global purchasing policy has also proved
successful, having lead to improved conditions and significant cost savings
because of the increased purchase volume. After the expansion boost
provided by its acquisitions, ISRA will initially be focusing on organic
growth and synergies from the integration of the acquisitions which is
progressing successfully. The international sales and distribution are
being quickly expanded - after South-America Eastern Europe and India will
follow. In addition to this, production will be increasingly moved to China
and the USA in order to reduce costs and take advantage of the persistent
weakness in the US dollar. With its current order book of 32 million Euros
(previous year: 17 million), ISRA intends to reach more than 65 million
Euros in revenue in this fiscal year, which corresponds to growth of
clearly more than 25 percent. The earnings target for 2007/2008 is an EBT
margin of 15 percent of the total operating revenue, which corresponds to a
four percentage point increase in the margin in comparison to the previous
year.
DGAP 29.02.2008
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Language: English
Issuer: ISRA VISION AG
Industriestr. 14
64297 Darmstadt
Deutschland
Phone: +49 (0)6151 9 48-0
Fax: +49 (0)6151 9 48-140
E-mail: investor@isravision.com
Internet: www.isravision.com
ISIN: DE0005488100
WKN: 548810
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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