===
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
-----------------------------------------------------------------------------------------------------------------------
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
MORE TO FOLLOW) Dow Jones Newswires
May 22, 2024 01:45 ET (05:45 GMT)