DJ EQS-News: Viscom AG feels the effects of investment restraint in the first quarter and makes a cautious start to the 2024 financial year

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EQS-News: Viscom AG / Key word(s): Quarter Results
Viscom AG feels the effects of investment restraint in the first quarter and makes a cautious start to the 2024
financial year
2024-05-22 / 07:45 CET/CEST
The issuer is solely responsible for the content of this announcement.
Viscom AG feels the effects of investment restraint in the first quarter and makes a cautious start to the 2024
financial year

Incoming orders: EUR 18,625 thousand (previous year: EUR 35,157 thousand); -47.0 %
Order backlog: EUR 28,949 thousand (previous year: EUR 46,026 thousand); -37.1 %
Revenue: EUR 18,628 thousand (previous year: EUR 23,615 thousand); -21.1 %
EBIT: EUR -2,382 thousand (previous year: EUR 232 thousand)

Hanover, 22 May 2024 - The business development of Viscom AG (ISIN DE0007846867) was already noticeably clouded in the
second half of 2023 due to an increasing reluctance to invest on the part of customers. This weakness continued and
intensified in the first quarter of 2024. The current weak demand in the markets had a negative impact on incoming
orders totalling EUR 18,625 thousand (previous year: EUR 35,157 thousand). Customers therefore placed with Viscom AG around
47 % fewer orders than in the previous year. At EUR 18,628 thousand, revenue in the first quarter of 2024 was around 21 %
below the comparable figure for the previous year (previous year: EUR 23,615 thousand). The result from operating
activities (EBIT) was significantly impacted by the low total operating performance and totalled EUR -2,382 thousand in
the first three months of the current financial year (previous year: EUR 232 thousand).
Demand for inspection systems from the mechanical engineering company based in Lower Saxony increased again over the
course of the first quarter of 2024. There has been a significant increase in customer visits and customer
demonstrations at the Hanover site. Many very specific projects are already being discussed with Viscom customers in
all regions worldwide. Viscom AG is therefore cautiously optimistic that the current situation will ease in the second
half of 2024 and that customers will resume their projects and place orders with Viscom AG. In addition, dependence on
the automotive sector has been reduced in recent years. Viscom has managed to position itself also in other growth
markets such as battery production, consumer electronics and the back-end of semiconductor production. Thanks to this
diversification, Viscom believes it is well positioned in the 2024 financial year to compensate for fluctuations in
demand in individual sectors. Megatrends such as electrification, automation and digitalisation also offer good
opportunities for growth in new areas for Viscom in the coming years.
Group-wide measures were already introduced at the beginning of 2024 in order to master the current situation while
preserving liquidity. Investments that were not immediately necessary were halted or require an individual assessment
by the Executive Board of Viscom AG. In addition, all material costs were reviewed and potential savings realised in
the first quarter of 2024. Expenses for trade fairs and non-revenue-related travel were reduced. A works agreement was
also concluded at the Hanover site in close consultation with the Works Council, which provides for the introduction of
short-time working from 1 March 2024 and will initially continue until the end of May 2024. As part of this package of
measures, the dividend is also to be reduced. The Annual General Meeting of Viscom AG on 29 May 2024 will be asked to
approve the payment of a dividend of EUR 0.05 per dividend-bearing share for the 2023 financial year. The proposal to pay
a reduced dividend for the 2023 financial year and to carry forward the remaining amount in full to new account is
intended to ensure that Viscom AG's financial and liquidity position remains stable. The Group's fundamental dividend
policy of distributing at least 50 % of consolidated net profit for the period remains unaffected.
Even though the current situation is gloomy, the management of Viscom AG remains cautiously optimistic about the 2024
financial year and confirms the annual forecast already set for the 2024 financial year with incoming orders and target
revenue of EUR 100 million to 110 million, with an EBIT-Margin of between 3 % and 8 %. This corresponds to EBIT of
between EUR 3.0 million and EUR 8.8 million.
The Group interim report as at 31 March 2024 is available for download now in the Investor Relations section of the
website at www.viscom.com.
OPERATING FIGURES

Consolidated statement of comprehensive income    1 Jan. to 31 Mar. 2024 1 Jan. to 31 Mar. 2023 
Revenue                                        KEUR                 18,628                 23,615 
EBIT                                           KEUR                 -2,382                    232 
EBIT-Margin                                     %                  -12.8                    1.0 
Net profit for the period                      KEUR                 -1,947                   -111 
Earnings per share                              EUR                  -0.22                   0.00 
Employees at end of quarter                                          597                    578 
Consolidated statement of financial position                31 Mar. 2024           31 Dec. 2023 

Assets

Current assets                                 KEUR                 80,716                 94,276 
Non-current assets                             KEUR                 31,720                 31,736 
Total assets                                   KEUR                112,436                126,012 

Equity and liabilities

Current liabilities                            KEUR                 41,243                 51,454 
Non-current liabilities                        KEUR                 12,748                 14,305 
Equity                                         KEUR                 58,445                 60,253 
Total equity and liabilities                   KEUR                112,436                126,012 
Equity ratio                                    %                   52.0                   47.8 
Consolidated statement                            1 Jan. to 31 Mar. 2024 1 Jan. to 31 Mar. 2023 

of cash flows

Cash flow from operating activities            KEUR                  9,111                  4,637 
Cash flow from investing activities            KEUR                 -1,303                 -1,031 
Cash flow from financing activities            KEUR                 -1,415                 -1,191 
Cash and cash equivalents                      KEUR                -18,708                -15,518 SEGMENT INFORMATION 

1 Jan. to 31 Mar. 2024 1 Jan. to 31 Mar. 2023
EUROPE
Revenue KEUR 11,523 12,947 EBIT KEUR -2,370 429 EBIT-Margin % -20.6 3.3
AMERICAS
Revenue KEUR 3,309 2,737 EBIT KEUR 169 -144 EBIT-Margin % 5.1 -5.3
ASIA
Revenue KEUR 3,796 7,931 EBIT KEUR -409 393 EBIT-Margin % -10.8 5.0
EBIT consolidation differences KEUR 228 -446 ===
About Viscom

Viscom AG develops, manufactures and sells high-quality inspection systems. Its product range covers the full range of optical inspection and X-ray inspection. The company is a leading global provider in the field of assembly inspection for electronics manufacturing. Viscom's systems can be configured for each individual customer and networked. Its headquarters and manufacturing site are in Hanover. With a large network of branches, application centres, service centres and representatives, Viscom is represented all over the world. Established in 1984, Viscom AG has been listed on the Frankfurt Stock Exchange since 2006 (ISIN: DE0007846867). Further information can be found at www.viscom.com.

Any forecasts, expectations or statements concerning the future included in this release may be subject to risk or uncertainty. We therefore cannot guarantee that the expectations will prove correct. Actual results and developments may differ significantly from the expectations and assumptions expressed. The factors that could cause such deviations include changes in the general economic and competitive situation, exchange rate and interest rate fluctuations and changes in national and international law. The company assumes no obligation to update the forward-looking statements in this release. Contact: Viscom AG Investor Relations Sandra M. Liedtke Carl-Buderus-Str. 9-15 30455 Hannover Tel.: +49-511-94996-791 Fax: +49-511-94996-555 investor.relations@viscom.de

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2024-05-22 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.eqs-news.com

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Language:     English 
Company:      Viscom AG 

Carl-Buderus-Str. 9-15
30455 Hannover
Germany

Phone:        +49 (0) 511 94 996 791 
Fax:          +49 (0) 511 94 996 555 
E-mail:       investor.relations@viscom.de 
Internet:     www.viscom.com 
ISIN:         DE0007846867 
WKN:          784686 
Listed:       Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, 

Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1908151

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1908151 2024-05-22 CET/CEST

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May 22, 2024 01:45 ET (05:45 GMT)