ISRA VISION AG / Quarter Results
26.02.2010 07:55
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.
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ISRA VISION AG: 2009/2010 1st Quarter Report
Profitability improved - positive outlook for financial year 2009/2010
* EBITDA margin increased to 26% of total output (FY 2008/2009: 23%)
* EBT margin rised to 15% (FY 2008/2009: 13%)
* Q1 revenues: EUR 14.0 million or -10% compared to previous year, which
was aided by a high order backlog from the 'pre-crisis' period
* Revenues in the largest segment, Surface Vision, rised slightly to EUR
11.7 million
* Negotiations for new acquisitions underway
* Order backlog increased to EUR 33 million
* Prognosis: Increased revenues with stable profits expected for financial
year 2009/2010 based on growth in the second half of the year
ISRA VISION AG (ISIN: DE0005488100), one of the world's top five suppliers
of industrial image processing (machine vision) solutions and the global
market leader in surface inspection systems, has managed to hold steady
during the crisis despite economic fluctuations. Robust business during the
first quarter of financial year 2009/2010 - the three-month period from
October to December 2009 - is indication that the worst of the temporary
dip in revenues is now over. Timely cost-reduction and efficiency measures
have begun to take effect, showing reduced costs of more than 0.8 million
euros in the first quarter compared to previous year. Profitability figures
thus showed good improvement.
Compared to last year's Q1 results, which were aided by a large order
backlog from the period prior to the global economic crisis, in Q1
2009/2010 ISRA earned stable revenues of 14.0 million euros (PY: 15.5
million euros). This was in favorable contrast to the rest of relevant
industry. The best performance was seen in Asia, while business declined
slightly in Western Europe and did not recover in the US.
EBITDA (earnings before interest, taxes, depreciation and amortization)
totaled 4.0 million euros (PY: 4.4 million euros). The EBITDA margin came
in at 26 percent of total output and 29 percent of revenues, or three
percentage points higher than in financial year 2008/2009. EBT - a key
performance indicator for value-oriented corporate governance - totaled 2.4
million euros (PY: 2.5 million euros). The EBT margin improved by two
percentage points over financial year 2008/2009 to 15 percent of total
output (and 17 percent of revenues). After taxes and minority interest,
consolidated net profit totaled 1.6 million euros (PY: 1.7 million euros).
Net profit relative to total output totaled ten percent (PY: ten percent),
while earnings per share equaled 0.36 euros (PY: 0.40 euros/share).
ISRA is prepared for a return to profitable growth with a sales and
marketing offensive and the planned introduction of more than 20 new
customer solutions and applications, more than ten of which are planned for
the current financial year alone. Last year, the industry was forced to
postpone several important investment projects. The past has shown that
these will likely be completed in the near future. The rise in the order
backlog to around 33 million euros is indicating that the worst of the
economic slowdown might be over. Information from the market indicates
possible growth in the second half of the financial year 2009/2010. Timely
cost-saving measures have already led to permanent cost reductions as of
the first quarter. These efforts will continue with three large programs
aimed at increasing efficiency and productivity and further streamlining
production (lean production).
A key component of ISRA's long-term growth strategy is external expansion
through acquisitions. Currently, multiple projects are underway, with one
new acquisition about to be completed.
Assuming the economy will recover continuesly, the management expects a
slight increase in revenues and stable profits for financial year 2009/2010
(10/01/2009 - 09/30/2010).
26.02.2010 07:55 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: 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, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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DGAP-Adhoc: ISRA VISION AG: Profitability improved - positive outlook for financial year 2009/2010
| Source: EQS Group AG