DGAP-News: Viscom AG / Key word(s): Final Results Viscom AG: Viscom enjoys strong performance towards the end of 2016 and continues on its growth path 22.03.2017 / 07:45 The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Viscom enjoys strong performance towards the end of 2016 and continues on its growth path - Incoming orders: EUR 83,498 thousand (previous year: EUR 67,173 thousand, +24.3 %) - Revenue: EUR 77,245 thousand (previous year: EUR 69,389 thousand, +11.3 %) - Operating profit (EBIT): EUR 10,497 thousand (previous year: EUR 10,157 thousand, +3.3 %) - EBIT-Margin: 13.6 % (previous year: 14.6 %) - Net profit for the period: EUR 7,129 thousand (previous year: EUR 3,529 thousand, +102 %) - Dividend proposal: EUR 0.45 per dividend-bearing share Hanover, 22 March 2017 - Viscom AG (ISIN DE0007846867) can look back on a successful 2016 financial year in which it recorded further substantial growth in terms of both operating profit and revenue thanks to extremely strong performance in the fourth quarter. This meant that the Lower Saxony-based mechanical engineering company exceeded its revenue forecast for the 2016 financial year and comfortably achieved its earnings target with an EBIT-Margin of 13.6 %. Thanks in particular to its strong positioning in the areas of 3D AOI and X-ray inspection, Viscom was again able to win over existing and new customers across a wide range of benchmarks, including in direct comparison with its strong peer group, and place itself on the approved vendor list (AVL) of high-profile global companies. In the area of Computer, Communication and Consumer (3C) electronics, the company continued to reap the rewards of its successful positioning, which it is using to win customers over with its technological expertise. At EUR 83,498 thousand, incoming orders in the 2016 financial year were up significantly on the prior-year level (previous year: EUR 67,173 thousand) and reached a new record high. The 24.3 % increase was due in particular to the expanded customer base and higher order volumes from major existing customers. In the past financial year, Viscom AG increased its revenue by 11.3 % year-on-year to EUR 77,245 thousand (previous year: EUR 69,389 thousand), thereby exceeding its own forecast of EUR 70-75 million for the 2016 financial year. Operating profit (EBIT) also enjoyed positive development, rising by 3.3 % year-on-year to EUR 10,497 thousand (previous year: EUR 10,157 thousand). At 13.6 %, the EBIT-Margin fell within the forecast range of between 13 % and 15 %. Net profit for the period more than doubled, from EUR 3,529 thousand in the previous year to EUR 7,129 thousand. The lower level of net profit in 2015 was due primarily to the recognition of provisions for tax and interest payments in connection with securities lending transactions in 2006. The tax rate returned to a normal level in 2016. Earnings per share therefore amounted to EUR 0.80 (previous year: EUR 0.40) based on 8,885,060 shares. The positive development of the Viscom Group was also driven by the largely strong business performance in the regions. Europe remained by far the strongest regional market in the past financial year, accounting for around 65 % of the Group's revenue. Segment revenue in this region increased from EUR 43,020 thousand in 2015 to EUR 50,553 thousand in 2016. Segment earnings therefore rose by around 3 % to EUR 8,113 thousand (previous year: EUR 7,881 thousand). Revenue in the Asia region also increased by a good 21 %, from EUR 13,350 thousand in the previous year to EUR 16,162 thousand, with the X7056 X-ray product range attracting new customers from the area of contract manufacturing in particular. This EMS customer segment - driven by the rising quality requirements of the 3C market - and the automotive segment with its focus on ADAS products (advanced driver assistance systems) both saw increased demand for this inspection technology, prompting customers to place orders with Viscom. In addition, the expected earnings contributions from service and system upgrade business were realised in the fourth quarter, meaning that segment earnings increased year-on-year to EUR 1,536 thousand (previous year: EUR 1,239 thousand). By contrast, the Americas region saw a decline of revenue growth compared with the dynamic performance in recent years. Uncertainty among small and medium-sized businesses with regard to corporation tax reform, foreign trade and the external impact on the general economic situation, which resulted from factors including the 2016 election year, may have led to restraint on the market. The weighting of major customers also declined in the period under review as a result of weaker conversion and upgrading orders. By contrast, demand in Mexico continued to enjoy strong growth thanks to prior investments in the automotive sector. At EUR 10,530 thousand, revenue was around 19 % lower than in the previous year (EUR 13,019 thousand), while segment earnings declined by around 45 % year-on-year to EUR 780 thousand (previous year: EUR 1,420 thousand). Viscom AG's extremely positive overall business development should again be reflected in an attractive dividend payment for its shareholders and reflects the management's stated dividend policy of distributing at least 50 % of the net profit generated. The Executive Board and Supervisory Board will therefore propose a dividend payment of EUR 0.45 per dividend-bearing share to the Annual General Meeting for the 2016 financial year. As in the previous years, this proposed dividend is based on the company's expected economic development under consideration of funds required for business operations. The undistributed portion of net profit will be used primarily to finance the company's continued growth. The outlook for the future is similarly positive. Viscom AG is pursuing a clear and sustainable growth path: The company had an order backlog of EUR 18,069 thousand as of 31 December 2016 (previous year: EUR 11,816 thousand), and these orders will be processed in 2017. The new development and enhancement of products and software components also offers additional market potential across a wide range of industries. The automotive and industrial electronics sectors are key sales markets for the Viscom Group. At the same time, the company is enhancing its presence in other future-oriented segments. Viscom's primary objective remains the expansion of its market position in the high-volume production of globally active contract manufacturers and the development of new areas of application with the aim of diversification. The general growth trends within the electronics market and various megatrends also offer secure growth potential. The management is therefore forecasting revenue of between EUR 80 million and EUR 85 million and an EBIT-Margin of between 13 % and 15 % for the 2017 financial year. The 2016 Annual Report can now be found in the Investor Relations section of the company's website at www.viscom.com/europe. Where this release contains forecasts, expectations or forward-looking statements, these statements may be subject to risks and uncertainties. We therefore cannot guarantee that these expectations will prove to be correct. Actual results and developments may deviate significantly from the expectations and assumptions expressed. The factors causing such deviations may include changes in the general economic situation and the competitive environment, exchange rate and interest rate fluctuations, and changes to national and international legislation. The company assumes no obligation to update the statements contained in this release. OPERATING FIGURES 2016 2015 Revenue KEUR 77,245 69,389 EBIT KEUR 10,497 10,157 EBIT-Margin % 13.6 14.6 Net profit for the period KEUR 7,129 3,529 Total assets KEUR 66,637 63,130 Equity ratio % 78.5 77.1 CF from operating activities KEUR 95 5,955 CF from investing activities KEUR -1,968 -2,359 CF from financing activities KEUR -3,554 -8,943 Cash and cash equivalents at end of period KEUR 6,517 11,868 Earnings per share EUR 0.80 0.40 Dividend per share * EUR 0.45 0.40 Employees at year-end 382 362 * Dividend proposal of EUR 0.45 per dividend-bearing share for the 2016 financial year SEGMENT INFORMATION 2016 2015 EUROPE Revenue KEUR 50,553 43,020 EBIT* KEUR 8,181 7,498 EBIT-Margin % 16.2 17.4 ASIA Revenue KEUR 16,162 13,350 EBIT KEUR 1,536 1,239 EBIT-Margin % 9.5 9.3 AMERICAS Revenue KEUR 10,530 13,019 EBIT KEUR 780 1,420 EBIT-Margin % 7.4 10.9 * Adjusted for consolidation differences Contact: Viscom AG Investor Relations Anna Borkowski Carl-Buderus-Str. 9-15 30455 Hannover Tel.: +49-511-94996-861 Fax: +49-511-94996-555 [email protected] --------------------------------------------------------------------------- 22.03.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- Language: English Company: Viscom AG Carl-Buderus-Strasse 9-15 30455 Hannover Germany Phone: +49 (0) 511 94 996 861 Fax: +49 (0) 511 94 996 555 E-mail: [email protected] Internet: www.viscom.de ISIN: DE0007846867 WKN: 784686 Listed: Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service --------------------------------------------------------------------------- 556579 22.03.2017