DGAP-Adhoc: ISRA VISION AG: ISRA has significantly

ISRA VISION AG / Half Year Results

30.05.2008 

Release of a Adhoc News, 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 Half Year 2007/2008

ISRA has significantly increased its revenue and profit - profitability has
improved even further
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, continues its successful launch into the 2007/2008
fiscal year (October 1, 2007 to September 30, 2008) with a successful
second quarter. The group's net sales increased by 29 percent to around 30
million Euros in comparison to the first half of the previous fiscal year.
The integration of the latest acquisitions is still progressing on
schedule. The EBT margin improved to 16 percent - five percentage points
more than in the entire 2006/2007 fiscal year.

ISRA has considerably increased its revenue on the German markets and in
international business. The largest growth drivers in the first half of the
2007/2008 fiscal year came from Asia. In Europe, ISRA also saw sound growth
in revenue. Only customers in North America have reacted to the insecure
economic developments with a reluctance to invest. ISRA expanded its
already dominant market position in the Surface Vision sector. In
comparison to the corresponding period in the previous year, the total
operating revenue increased by 35 percent to 25.0 million Euros in the
Surface Vision sector. The EBITDA and the EBIT each have increased by 29
percent. In the Industrial Automation segment, ISRAs total operating
revenue increased by 18 percent to 9.1 million Euros. The EBITDA has
increased by 17 percent and the EBIT by 13 percent.

The revenues in the ISRA group have risen by 29 percent to around 30
million Euros in the first half of the 2007/2008 fiscal year. The total
operating revenue rose by 30 percent to 34.1 million Euros. The material
costs climbed by 19 percent to 6.4 million Euros. The ratio of material
costs therefore sank by two percentage points to 19 percent. In comparison
to the entire previous fiscal year, this decreased by three percentage
points. The gross margin thus reached 58 percent (previous year: 59
percent). ISRA VISION spent 5.4 million Euros for research and development
(previous year: 3.7 million Euros). The marketing, sales & administration
costs increased to 6.6 million Euros (previous year: 4.9 million Euros). At
19 percent of the total operating revenue, their proportion sank in
comparison to the value of the same period of the previous year, three
points below the value of the entire previous fiscal year. The EBITDA
improved by 25 percent to 8.4 million Euros. Thus, the EBITDA margin is 25
percent (as of the end of the fiscal year September 30, 2007: 19 percent).
The EBT increased by 18 percent to 5.3 million Euros. At 16 percent
(previous year: 17 percent), the EBIT margin fully achieved the Executive
Boards target for earnings. The net profit (after minority interests)
increased by 17 percent to 3.6 million Euros. This in turn resulted in
earnings per share of 0.83 Euros (previous year: 0.71 Euros).

ISRA will be continuing the growth that it has been ceaselessly pursuing
for ten years now, without losing any of its momentum. The integration of
the four acquisitions have progressed as planned, especially the largest
one, Parsytec; the synergies have already had a positive impact on the
business figures. Besides printed electronics, ISRA also wants to expand
the area of application for its inspection solutions for components of
large solar power plants. The international sales team, the important
drivers for dynamic expansion, has been expanded and now has an office on
the Iberian Peninsula.
With its current order backlog of 35 million Euros, ISRA intends to reach
more than 65 million Euros in revenue in this fiscal year and over 75
million Euros in revenue in the coming one. The gross margin should
increase in the long term from its current 58 percent to 60 percent. The
earnings target for 2007/2008 remains an EBT margin of 15 percent (relative
to the total operating revenue) and at 19 percent for 2008/2009 relative to
the total operating revenue.
DGAP 30.05.2008 
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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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DGAP-Adhoc: ISRA VISION AG: ISRA has significantly increased its revenue and profit - profitability has improved even further
