ISRA VISION AG / Key word(s): 9-month figures 29.08.2014 08:01 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- ISRA VISION AG: 3rd Quarter YTD 2013/2014 - revenues rise by 12%, EBT by 15% A further quarter of double-digit growth - forecasted revenue goal of 100 million euros is becoming a reality - Revenue plus of 13% in the quarter; for 9 months plus 12% to approx. 70 million euros - EBT growth for 9 months plus 15% to 12.8 million euros (Q3-YTD-12/13: 11.2 mill. euros) - EBT margin increases to 17% to total output (Q3-YTD- 12/13: 16%) - Continued high margins with respect to total output: - EBITDA margin at 26% (Q3-YTD-12/13: 26%) - EBIT margin at 17% (Q3-YTD-12/13: 17%) - Gross margin at a stable level of 60% to total output (Q3-YTD-12/13: 60%) - Operative cash flow improved - Current order backlog at approx. 61 million euros (Q3 12/13: approx. 50 mill. euros) - Earnings per share (EPS) increase by 15% to 2.02 euros (Q3-YTD-12/13: 1.76 euros) - Financial year 2014/2015: Again double-digit growth planned ISRA VISION AG (ISIN: DE 0005488100), one of the world's top companies for industrial image processing (Machine Vision) as well as globally leading in surface inspection of web materials and 3D machine vision applications, continues the successful growth course of the first half-year also in the third quarter of 2013/2014. With the traditionally strong final quarter, reaching the important revenue mark of 100 million euros for the first time is expected in the 2013/2014 financial year. With the revenue plus of 13 percent in the third quarter compared to the same period of the previous year (Q3 13/14: 25.0 mill. euros, Q3 12/13: 22.1 mill. euros), the company has again consistently met its forecast to grow in the double-digit range - as in the preceding years and quarters. In the first nine months of the financial year (October 1, 2013 to September 30, 2014), revenues increase referenced to the same period of the previous year by 12 percent to 69.8 million euros (Q3-YTD-12/13: 62.2 mill. euros). EBT (Earnings Before Taxes) also show a double-digit rise of 15 percent compared to the first nine months of 2012/2013 to 12.8 million euros (Q3-YTD-12/13: 11.2 mill. euros). The margins continue to remain at the forecasted high values: With 17 percent to total output, the EBT margin raises by one percentage point compared to the same period of the previous year (Q3-YTD-12/13: 16%). EBIT (Earnings Before Interest and Taxes) expand by 14 percent to 13.4 million euros (Q3-YTD-12/13: 11.7 mill. euros). The EBIT margin reaches once again a value of 17 percent to total output (Q3-YTD-12/13: 17%). Based on an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) of 19.9 million euros (Q3-YTD-12/13: 17.7 mill. euros), the EBITDA margin amounts to 26 percent to total output (Q3-YTD-12/13: 26%). Adding up to 60 percent to total output, the gross margin (total output minus cost of materials and labor of production and engineering) remains constant at a high level (Q3-YTD-12/13: 60%). By the end of the third quarter on June 30, 2014, ISRA achieved an operative cash flow of 11.4 million euros (June 30, 2013: 10.8 mill. euros). Given the increase in equity ratio by two percentage points to 59 percent (September 30, 2013: 57%) and the available credit lines, the company is equipped with solid capital resources for future growth. The good business development of the first six months in revenues and earnings also continued in the third quarter of 2013/2014. As in the previous quarters, especially the Asian market is registering a dynamic growth. In Europe, the positive course from the second quarter continued. The company is recording increasing demand impulses from Eastern Europe, whereby the Russia business is of little importance, as in the previous years. The order entries in the Americas show a more moderate development and are additionally being intensified through targeted marketing and sales measures. In the reporting quarter, ISRA continued to grow in both segments - Surface Vision and Industrial Automation. In the past financial year 2012/2013, the Industrial Automation segment was one of the strongest growth drivers with a revenue increase of 30 percent. In the current reporting period, the revenues in this segment were not only held at the high level of the previous year - but raised by 11 percent to 15.8 million euros (Q3-YTD-12/13: 14.2 mill. euros). The development is supported by a continuously high demand for innovative 3D system solutions, particularly by premium German automobile manufacturers and the US-American automotive industry. EBIT rise by 14 percent to 3.0 million euros (Q3-YTD-12/13: 2.6 mill. euros), the EBIT margin amounts to 17 percent referenced to total output (Q3-YTD-12/13: 16%). For the financial year, management expects a double-digit growth in this segment. In the Surface Vision segment, revenues expand to 54.0 million euros in the first nine months of the financial year (Q3-YTD-12/13: 48.0 mill. euros) - a growth of 12 percent. EBIT go up by 14 percent to 10.4 million euros (Q3-YTD-12/13: 9.1 mill. euros), which corresponds to a margin of 17 percent to total output (Q3-YTD-12/13: 17%). Compared to the previous year, ISRA records strong order entries in the metal sector - a considerable success of the intensive sales efforts. Significant increases in the Paper and Specialty Paper areas have also provided a strong contribution to the positive result. The Glass and Plastics industries profited from good order entries, business in the Printing industry is particularly supported by a strengthening of the sales team and product innovations. The Solar product portfolio enhanced through the acquisition of GP Solar showed a high demand at the beginning of the year, especially from Taiwan, Korea, Japan and the United States. The company continues to carefully monitor the industry and features the best requirements to profit from the future development of the photovoltaics market. Overall, management expects a similarly strong order entry dynamics in the Surface Vision segment for the fourth quarter as in the last two quarters. Expanding the service business remains in focus. For this purpose, the company offers customers additional support and services, which also include an expanded training program that is being planned at different locations worldwide as part of the ISRA Academy. The introduction of the further developed portfolio is accompanied by corresponding marketing measures. Besides organic growth, pursuing external growth by acquiring suitable companies is an important part of the long-term strategy. For the target companies, a fitting expansion of the product portfolio, an increase of the market shares, the development of new markets and the integrability are at the centre of the examinations in advance of an acquisition. Currently, the management is intensively monitoring and analyzing targets which will strategically strengthen ISRA and, following a positive evaluation result, plans to conclude a further project in the upcoming financial year. In order to prepare the organization for a revenue level of more than 100 million euros, the management is concentrating on measures to increase cost efficiency. In production, the activities for further streamlining the processes and reducing the lead times are being continued. In addition, an intensive focus persists on the optimization of cash management. In preparation of the upcoming financial year, investments in the infrastructure of the organization as well as the expansion of the global marketing and sales presence remain important instruments of the growth strategy. Based on the strong order backlog of approximately 61 million euros (Q3-YTD-12/13: approx. 50 mill. euros), ISRA anticipates a double-digit revenue growth to 100 million euros and a profitability similar to the previous quarters for the financial year 2013/2014. For 2014/2015, the company expects further important impulses from the currently attractive market environment for its automation and quality assurance solutions. To realize the planned double-digit growth the global sales activities and the regional presence, as well as innovations, are particularly intensified. On this basis, ISRA is preparing steps towards reaching the next targeted revenue dimension of 150 million euros by, among other things, the strengthening of the management team in value-adding sectors. 29.08.2014 The DGAP 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: A further quarter of double-digit growth - forecasted revenue goal of 100 million euros is becoming a reality
| Source: EQS Group AG