ISRA VISION AG / Key word(s): Quarter Results 31.08.2011 07:53 Dissemination 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. --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------
DGAP-Adhoc: ISRA VISION AG: Double-digit profitable growth continues - annual forecast confirmed
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