ISRA VISION AG / Key word(s): Quarter Results
31.08.2011 07:53
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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ISRA VISION AG: Q3 10/11 - Revenues grow by 19% and EBT by 24% after 9
months
Double-digit profitable growth continues - annual forecast confirmed
- Revenue growth in the first 9 months plus 19% to 51.7 mill. EUR (9
months 09/10: 43.4 mill. Euros), in the 3rd quarter plus 18% (comp. to
same quarter of previous year)
- EBT growth in the first 9 months plus 24% to 8.9 mill. EUR (9 months
09/10: 7.2 mill.EUR)
- EBIT growth in the first 9 months plus 22% to 9.6 mill. EUR (9 months
09/10: 7.8 mill. EUR)
- Gross margin reaches 60% compared to total output (9 months 09/10: 59%)
- Further continuous margin increases, all referenced to total output:
- EBITDA margin increased to 26% (FY 09/10: 24%; Q3 09/10: 25%)
- EBIT margin increased to 17% (FY 09/10: 16%; Q3 09/10: 16%)
- EBT margin increased to 16% (FY 09/10: 15%; Q3 09/10: 15%)
- Strong order backlog of significantly over 40 mill. EUR
- ISRA with proven planning consistency - Q3 figures strengthen forecast
for entire year
ISRA VISION AG (ISIN: DE 0005488100), one of the world's leading companies
of industrial image processing (Machine Vision), global market leader in
surface inspection systems, and one of the leading 3D machine vision
providers, increased revenues double-digit in the first nine months of
financial year 2010/2011 (October 1 to September 30) by 19 percent to 51.7
million Euros compared to the same period of the previous year (PY: 43.4
million Euros). All relevant earnings ratios improved in the process.
The EBT margin in relation to total output increased by one percent to 16
percent (previous year: 15 percent) in the nine-months period. EBT
(earnings before taxes) rose by 24 percent and reached 8.9 million Euros
(PY: 7.2 million Euros), referred to the third quarter 3.2 million Euros
(PY: 2.6 million Euros). EBITDA (earnings before interest, taxes and
depreciation) increased by 20 percent to 14.8 million euros (PY: 12.3
million euros), thereby reaching a margin improvement of one percent to 26
percent referenced to total output (PY: 25 percent), or by two percent
compared to financial year 2009/2010. Although, the company succeeded in
optimizing the production costs even further. The gross margin (total
output minus costs for material and labor of production and engineering)
subsequently improved to 60 percent (PY: 59 percent) in the nine-months
period. The equity ratio amounted to 56 percent (PY: 55 percent) as of the
end of June. As of the balance sheet date of June 30, 2011, the cash flow
from operating activities reached 4.1 million euros.
The positive business development from the first six months continued in
the third quarter with almost undiminished dynamic force. Earnings
increased in the double-digit range across all regions. The revenues in
North America increased significantly, and exceeded the development in
Europe from a percentage point of view. The positive sales in Asia
continued without interruption. For this reason, it was once again possible
to further expand the strong market position in the two segments Surface
Vision and Industrial Automation.
In the first nine months of 2010/2011, revenues in the Surface Vision
segment increased by 20 percent to 43.8 million Euros (PY: 36.5 million
Euros). This positive development is driven particularly by the business
units Glass, Plastics and Paper which improved even further with good order
entries. Metals was also one of the revenue pillars. The development in the
business units Special Paper and Print is in line with the planning. The
order entries at the start of the fourth quarter show a similar trend. The
business in America continued the positive development of the first two
quarters as a result of intensive sales activities. Europe and Asia
continue to develop at a high level.
In the Industrial Automation segment, the sales activities from ISRA aims
almost exclusively at customers from the automotive industry. The revenues
totaled 7.8 million euros (PY: 6.8 million euros). Overall, order entries
of more than 50 percent indicates a continuing robust business in the
Automotive unit. The long-term general agreement for quality control in
body manufacturing with 3D measuring systems forms a good basis for the
next financial years. In this industry, ISRA continues to focus on a broad
3D product portfolio and continues to expand its leading role in this area.
The innovation and marketing offensive initiated by management shows good
results and will be continued undiminished. In addition, the second
management level in the added-value segments will be reinforced further
with experienced specialists. This is intended to prepare the structure of
the company for the next growth step in the context of the mid-term growth
strategy 100+. Furthermore, the strategy of ISRA also includes the external
growth using acquisitions. In this area, the company already has vast
experience. The management continuously analyzes possible strategic
targets. They should complement the actual ISRA product portfolio in a
meaningful way, increase the market share or provide the opportunity of
developing new markets. For the valuation, the management concentrates on
the economic efficiency as well as on synergy potentials of the acquisition
object. The conclusion of a further transaction in 2011 is actively
pursued.
The positive revenue growth in the first nine months of 2010/2011, the
order backlog with significantly more than 40 million Euros and the actual
order entries are a good basis for the current financial year. The company
therefore reinforces the goals for 2010/2011 (01 Oct 2010 - 30 Sept 2011)
to double-digit revenue growth to significantly more than 70 million Euros
and to increase the profit margins compared to the previous year. The goal
is to keep the profit margins on the significantly higher level of the last
two quarters.
For the coming financial year ISRA plans - not least because of the
expected positive effects from the sales and innovation offensive - to
continue the double-digit growth.
31.08.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: ISRA VISION AG
Industriestr. 14
64297 Darmstadt
Germany
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, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: ISRA VISION AG: Double-digit profitable growth continues - annual forecast confirmed
| Source: EQS Group AG