ISRA VISION AG / Preliminary Results
15.12.2008
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: Preliminary Annual Financial Statement for the 2007/2008
Financial Year
ISRA shows its customary planning reliability Forecasts confirmed for the
2007/2008 financial year
Revenue increased by 33% to more than 68 million
EBIT: +110%, EBIT margin 19% of the revenue (17% of the total output)
EBT: +79%, EBT margin 17% of the revenue (15 % of the total output)
Earnings per share (EPS) 1.76, price-to-earnings ratio (PER):3.6
Market value per 1 of revenue: 0.40 Euros, price-to-book
ratio(P/B):0.36
Growth financing secured by sufficient liquidity
Darmstadt, December 15, 2008 ISRA VISION AG (ISIN: DE 0005488100), world
market leader for surface inspection systems and globally one of the top
five suppliers for industrial image processing (Machine Vision), met all of
its targets for revenue and earnings for the 2007/2008 financial year
(September 30th), and even succeeded in surpassing them. The group revenue
from the preliminary annual financial statement (which has been audited but
not yet certified) increased by 33 percent to 68.3 million Euros. The total
output (revenue plus capitalized development) increased by 30 percent to
76.3 million Euros The gross margin remained steady at 58 percent of the
total output; relative to the revenue, this margin increased by one percent
to 52%.
ISRA has now broadly completed the integration of its extensive
acquisitions. Synergies can be seen in all indicators related to
profitability. The EBITDA (Earnings before Interest, Taxes, Depreciation
and Amortization) rose by 70 percent to 18.6 million Euros. The EBITDA
margin grew by five percentage points to 24 percent of the total output and
27 percent of the revenue. The EBIT (profit before interest and taxes) more
than doubled, increasing to 12.9 million Euros. The EBIT margin increased
by seven percentage points to 17 percent of the total output and 19 percent
of the revenue. As forecasted by the management in the previous year, the
other important performance indicator for strategic profitability planning,
the EBT (earnings before taxes), increased by 79 percent to 11.3 million
Euros. The EBT margin thus grew by four percentage points to 15 percent of
the total output and 17 percent of the revenue.
The net profit reached 8.0 million Euros (previous year: 5.5 million
Euros). The earnings per share totaled 1.76 Euros. At present share prices
of around 6.30 Euros, ISRA is currently valued at 3.6 times the net profit.
One Euro of revenue from ISRA now costs 0.40 Euro on the stock exchange
(revenue to market capitalization). At a solid 27 million Euros, the market
capitalization from ISRA is around two-thirds less than the 75.7 million
Euro equity on the balance sheet.
In the group, ISRA has an equity ratio of 51 percent. The liquid assets of
12.5 million Euros increased in the fourth quarter by 0.6 million Euros.
The operative cash flow totaled 6.4 million Euros. The long-term financing
of its acquisitions had already been secured by bank loans with very
cost-efficient conditions. Furthermore, ISRA has free financing options of
around 20 million Euros. All balance sheet assets have been carefully
analyzed using impairment tests and have been regularly adjusted to match
their current value. There were no namable depreciations in the 2007/2008
financial year.
In the 2007/2008 financial year, ISRA expanded its leading position on the
global market in the sector of surface vision. The total output increased
by 37 percent to 58.3 million Euros, and the EBIT increased by more than
150 percent to 9.9 million Euros. ISRA grew in the division of industrial
automation with a 12 percent increase in total output to 18.0 million
Euros. The EBIT rose by 36 percent to 3.0 million Euros. ISRA thus achieved
an EBIT margin of 17 percent in both sectors.
With an order backlog of more than 34 million Euros, ISRA intends to
continue following its long tradition of profitable growth - both organic
and external - in the 2008/2009 financial year. Following a thorough
analysis of all relevant markets respectively budget decisions of the
important customers, the management will be releasing a detailed revenue
forecast for the current financial year in February 2009. In view of the
current market trend, the management is expecting a moderate increase in
revenue for the current financial year - provided that the market
environment does not suffer any additional setbacks. As ISRAs solutions
provide the customer precisely what they need in economically challenging
times: reductions in costs and increases in quality. The customer can thus
enhance its productivity on the production line. ISRA products provide a
ROI (return on investment) in both existing and new production lines. It
usually takes far less than a year for the investment to pay for itself.
Automation is the best way to reduce costs, and automated inspection
furthermore guarantees a pre-defined level of quality. With innovative
yield management solutions, customers will be able to optimize the return
on their output. Additionally the management is diligently preparing the
company for any eventuality with additional programs to increase efficiency
and productivity.
DGAP 15.12.2008
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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, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: ISRA VISION AG: ISRA shows its customary planning reliability Forecasts confirmed for the 2007/2008 financial year
| Source: EQS Group AG