Viscom SE
ISIN: DE0007846867
WKN: 784686
08 August 2024 07:00AM

EQS-News: Viscom SE: Weak demand characterises business performance in the first half of 2024; Adjustment of the annual forecast despite continued limited predictability

Viscom SE · ISIN: DE0007846867 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1963157

EQS-News: Viscom SE / Key word(s): Half Year Report/Half Year Results
Viscom SE: Weak demand characterises business performance in the first half of 2024; Adjustment of the annual forecast despite continued limited predictability

08.08.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.


Viscom SE: Weak demand characterises business performance in the first half of 2024; Adjustment of the annual forecast despite continued limited predictability

 

Incoming orders: € 36,910 thousand (previous year: € 63,303 thousand); -41.7 %
Order backlog: € 24,558 thousand (previous year: € 48,347 thousand); -49.2 %
Revenue: € 
41,304 thousand (previous year: € 49,439 thousand); -16.5 %
EBIT: € 
-4,844 thousand (previous year: € 236 thousand)

 

Hanover, 8 August 2024 – The market environment in which Viscom SE (ISIN DE0007846867) operates did not stabilise as hoped in the second quarter of 2024, and Viscom customers' reluctance to make new investments, particularly in the automotive and industrial electronics sectors, continues to be noticeable. Weak demand in the markets had a negative impact on incoming orders, which fell by around 42 % year-on-year to € 36,910 thousand (previous year: € 63,303 thousand). At € 41,304 thousand, revenues in the first half of 2024 were 16.5 % below the comparable figure from the previous year (previous year: € 49,439 thousand). Earnings before interest and taxes (EBIT) was significantly impacted by the lower overall performance and totalled € -4,844 thousand in the first six months of the current financial year (previous year: € 236 thousand). The cost of materials fell by € 13,210 thousand to € 12,793 thousand (previous year: € 26,003 thousand). Personnel expenses totalling € 20,773 thousand were slightly below the previous year's figure (previous year: € 21,150 thousand) despite a higher average number of employees and salary adjustments. The reduction in provisions for holiday and overtime (€ 974 thousand) and the introduction of short-time working at the Viscom SE site in Hanover (€ 143 thousand) had a positive effect on earnings. In addition, the decrease in other operating expenses (€ 6,709 thousand; previous year: € 7,907 thousand), in particular due to lower costs for administration, sales and from warranties and rework, as well as the increase in other operating income (€ 736 thousand; previous year: € 681 thousand) had a positive effect on earnings. The € 172 thousand increase in write-offs to € 3,365 thousand (previous year: € 3,193 thousand) had a negative impact on the half-year result. The reported EBIT for the first half of 2024 includes one-off effects for restructuring measures of around € 150 thousand. Net profit for the period amounted to € -4,104 thousand (previous year: € -395 thousand). Viscom SE expects the cost and efficiency measures already initiated throughout the Group to have a positive impact on earnings over the remainder of the year.

Despite the current challenges, Viscom SE continues to work intensively on new and further developments to its inspection systems and is a technological leader in the use of inspection solutions with 100% fault detection. Interest in the inspection systems from the Lower Saxony-based mechanical engineering company remained high in the first half of 2024. Viscom SE continued to record many customer visits to the Hanover site. A large number of very specific projects are already being discussed with customers in all regions worldwide. Viscom SE is therefore confident that as soon as the hoped-for easing of the current situation materialises and customers resume their projects, more orders will be placed with Viscom SE again. The battery cell business of the subsidiary, Exacom GmbH, is developing particularly favourably. With its Viscom technology, Exacom is the technology leader in the automated 100 % X-ray inspection of battery cells. Market expectations are positive, although there are also delays in the construction of new gigafactories in the area of electromobility. Viscom SE is also expecting further large-scale orders with complex projects and a longer term. Viscom believes it is well poised to position itself in other growth markets such as battery production, consumer electronics and the back-end of semiconductor production, and to reduce its dependence on individual sectors such as the automotive industry. Megatrends such as electrification, automation and digitalisation offer good opportunities for recovery and growth for Viscom in new areas over the next few years.

The market situation in many sectors and regions is currently characterised by uncertainty and difficult conditions. Viscom SE still has no reliable indications of the expected recovery in the second half of 2024. As the year progressed, it became apparent that the German economy would not be able to match the upturn seen in other industrialised countries. Signs of recovery are more hesitant and weaker than originally anticipated. The management of Viscom SE continues to expect incoming orders and target revenue of € 80 to 95 million for the 2024 financial year, thus confirming the forecast of 23 May 2024. The EBIT-Margin was specified against the backdrop of further delays in projects and the resulting underutilisation of capacity in all divisions and companies. The cost-cutting measures introduced will not yet be effective in the short term to significantly improve future monthly results. The management of Viscom SE now expects an EBIT-Margin before non-recurring effects of between -3 % and -9 % for the 2024 financial year. This corresponds to EBIT before non-recurring effects of between € -2.9 million and € -7.2 million (previous forecast: EBIT before non-recurring effects will be in the low negative range). Due to the ongoing discussions with Viscom SE's Works Council, it is not yet possible to make a reliable statement on the extent of the non-recurring effects. However, these will lead to a further burden on earnings. The economic distortions caused by Viscom customers' reluctance to invest is having a severe impact on the predictability of the current financial year and is therefore leading to considerable forecasting uncertainty. Group-wide measures were introduced at the beginning of the year in order to master the current situation without jeopardising liquidity. Investments that were not immediately necessary were halted or require an individual assessment by the Executive Board of Viscom SE. In addition, all material costs were reviewed, expenses for trade fairs and non-revenue-related travel were reduced and potential savings were realised in the first half of 2024. A works agreement was also concluded at the Hanover site in close consultation with the Works Council, which provided for the introduction of short-time working, initially from March to May 2024. Short-time working at the Hanover site was continued from June 2024 and further cost-cutting measures were implemented. Due to the ongoing challenges, Viscom SE will continue to optimise the efficiency programme introduced last year with the aim of further streamlining processes and structures and thus reducing costs.

The Group Interim Report as at 30 June 2024 is now available to download in the Company/Investor Relations section of the company’s website at www.viscom.com.


OPERATING FIGURES

 

Consolidated statement of comprehensive income   01.01.-30.06.2024 01.01.-30.06.2023
Revenue K€ 41,304 49,439
EBIT K€ -4,844 236
EBIT-Margin % -11.7 0.5
Net profit for the period K€ -4,104 -395
Earnings per share  € -0.47 -0.03
Employees as of 30.06.   583 583
Consolidated statement of financial position   30.06.2024 31.12.2023
Assets      
Current assets K€ 75,450 94,276
Non-current assets K€ 31,396 31,736
Total assets K€ 106,846 126,012
Equity and liabilities      
Current liabilities K€ 39,548 51,454
Non-current liabilities K€ 11,414 14,305
Equity K€ 55,884 60,253
Total shareholders’ equity and liabilities K€ 106,846 126,012
Equity ratio % 52.3 47.8
Consolidated statement of cash flows   01.01.-30.06.2024 01.01.-30.06.2023
Cash flow from operating activities K€ 15,084 5,029
Cash flow from investing activities K€ -2,192 -2,039
Cash flow from financing activities K€ -3,213 -5,002
Cash and cash equivalents K€ -15,419 -19,949

 

SEGMENT INFORMATION

 

    01.01.-30.06.2024 01.01.-30.06.2023
EUROPE      
Revenue K€ 26,522 28,488
EBIT K€ -4,784 515
EBIT-Margin % -18.0 1.8
AMERICAS      
Revenue K€ 6,047 5,568
EBIT K€ 143 -166
EBIT-Margin % 2.4 -3.0
ASIA      
Revenue K€ 8,735 15,383
EBIT K€ -524 589
EBIT-Margin % -6.0 3.8
EBIT consolidation differences K€ 321 -702

  

About Viscom

Viscom SE 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 SE 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 SE
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


08.08.2024 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


Language: English
Company: Viscom SE
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: 1963157

 
End of News EQS News Service

1963157  08.08.2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1963157&application_name=news&site_id=boersengefluester~~~ace3d64b-2049-452a-8d18-fbc8044c4b5f

Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 93,56 88,86 61,56 79,79 105,52 118,78 90,00
EBITDA1,2 12,92 9,02 -0,77 10,07 14,95 13,20 6,00
EBITDA-Margin3 13,81 10,15 -1,25 12,62 14,17 11,11 6,67
EBIT1,4 10,94 4,02 -5,98 4,20 8,19 6,61 -5,50
EBIT-Margin5 11,69 4,52 -9,71 5,26 7,76 5,57 -6,11
Net Profit (Loss)1 7,81 3,10 -4,41 2,59 5,37 3,14 -6,35
Net-Margin6 8,35 3,49 -7,16 3,25 5,09 2,64 -7,06
Cashflow1,7 1,23 7,30 10,26 -3,90 -1,69 6,18 0,00
Earnings per share8 0,88 0,35 -0,50 0,29 0,60 0,34 -0,70
Dividend per share8 0,45 0,05 0,00 0,20 0,30 0,05 0,00
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: PricewaterhouseCoopers

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Viscom
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
784686 DE0007846867 SE 29,86 Mio € 10.05.2006 Halten 9F4F9M24+9W
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
12,73 26,35 0,48 7,21 0,55 4,83 0,25
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,30 0,05 0,00 0,00%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
06.06.2025 20.05.2025 14.08.2025 14.11.2024 25.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-5,97%
3,31 €
ATH 39,60 €
-0,48% -21,08% -58,63% -58,10% -82,11%

Advertising is an important revenue channel for us. But we understand, that sometimes it becomes annoying. If you want to reduce the number of shown ADs just simply login to your useraccount and manage the settings from there. As registered user you get even more benefits.
          Qualitätsjournalismus · Made in Germany © 2024          
The news manufactory

Good luck with all your investments

Founded in 2013 by Gereon Kruse, the financial portal boersengefluester.de is all about German shares - with a clear focus on second-line stocks. In addition to traditional editorial articles, the site stands out in particular thanks to a large number of self-developed analysis tools. All tools are based on a completely self-maintained database for more than 650 shares. As a result, boersengefluester.de produces Germany's largest profit and dividend forecast.

Contact

Idea & concept: 3R Technologies   
boersengefluester.de GmbH Copyright © 2024 by Gereon Kruse #BGFL