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- Pressemitteilung BoxID 512312
Once again a double-digit organic growth - Guidance confirmed
ISRA VISION AG: 1st Half Year of 2011/2012: Revenues grow by 14%, EBT by 15%
(PresseBox) (Darmstadt, )
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- Revenue growth in the 1st half year plus 14% to 37.3 mill. Euros (compared to HY1 10/11)
- EBT growth in the 1st half year plus 15% (compared to HY1 10/11)
- Gross margin to total output stabilized at 60% (HY1 10/11: 60%)
- Margins to total output constant at a high level:
- EBITDA margin at 26% (HY1 10/11: 26%)
- EBIT margin at 17% (HY1 10/11: 17%)
- EBT margin at 16% (HY1 10/11: 16%)
- Operative cash-flow slightly improved, despite high order backlog (compared to Q1 11/12)
- Current order backlog of approx. 55 mill. euros
- Earnings per share (EPS) increased to 1.02 euros (PY: 0.90 euros)
- Guidance for the financial year 2011/2012 confirmed: Organic revenue growth to more than 80 mill. euros
ISRA VISION AG (ISIN: DE 0005488100), one of the world's leading companies of industrial image processing (Machine Vision), global market leader for surface inspection systems, and one of the leading 3D machine vision providers increased revenues in the first six months of the 2011/2012 financial year (October 01, 2011 to March 31, 2012) by 14 percent to 37.3 million euros compared to the same period of the previous year (PY: 32.6 mill. euros). On the way to ISRA's mid-term goal of surpassing the revenue mark of 100 million euros, this double-digit organic growth is an additional important step.
Profitability continues where the first quarter of 2011/2012 left off, with once again a double-digit increase, whereby the earnings margins carry on to be at a high level. EBT margin based on total output was at 16 percent (PY: 16%), and EBT (Earnings Before Taxes) increased by 15 percent to 6.5 million euros compared to the first six months of 2010/2011 (PY: 5.7 mill. euros). Referenced to total output, the EBIT margin was at 17 percent as in the previous year (PY: 17%). After depreciation totaling to 3.7 million euros in the first six months (PY: 3.5 mill. euros), EBIT (Earnings Before Interest and Taxes) increased by 14 percent to 6.9 million euros (PY: 6.1 mill. euros). For EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), the margin also stabilized at 26 percent to total output (PY: 26%).
With 60 percent based on total output (PY: 60%), gross margin (total output minus material and labor costs for production and engineering) is in the mid-term target range and emphasizes the overall strong margin level. The equity ratio rose by one percentage point to 58 percent (PY: 57%). Cash-flow from operating activities improved in the first six months from 1.0 million euros in the first quarter to 5.6 million euros. As of March 31, 2012, cash and cash equivalents in the amount of 8.5 million euros were available (PY: 5.8 mill. euros).
Regarding the regional development of the business, ISRA is profiting from its strong worldwide presence. In the second quarter of the 2011/2012 financial year, the double-digit growth is again supported by all regions. In Asia, growth continued at a high level. Europe and the Americas demonstrated similar dynamics as Asia in the previous year. The new location in Russia has already established itself and shows first impulses. With investments in Brazil, ISRA is expanding its presence in South America. Indonesia is the next market which ISRA plans to establish.
In both business segments, ISRA further expanded its good market position. In the Surface Vision area, revenues rose by 15 percent to 32 million euros (PY: 27.8 mill. euros) compared to the first six months of the previous year. EBIT reached 5.9 million euros (PY: 5.2 mill. euros), which placed it 15 percent higher than the previous year's value. This development was carried, in particular, by the business units Plastics, Paper, Specialty Paper and Print. The Glass and Metal units were further strengthened by investing in sales, which also led to important order entries in the current quarter. Product innovations for quality assurance in the Solar unit show impulses for further growth, particularly in Asia. For the second half of the financial year, the company anticipates a continuation of the good development of the first six months in nearly all industries that are being addressed - an expectation that is also based on the new product introductions and the intensification of marketing and sales activities.
In the Industrial Automation segment, in which ISRA concentrates almost exclusively on the automotive industry, revenues increased in the first six months of 2011/2012 to 5.2 million euros (PY: 4.8 mill. euros). For the same period, EBIT increased to 1.0 million euros (PY: 0.9 mill. euros). The expected positive development in this area is essentially carried by the strong demand for automation technology at the premium manufacturers in the automotive sector. Additional high order entries are being recorded from Germany as well as Europe and Asia. The successful exhibition presentation of the new generic 3D Vision product portfolio will be an additional driver of growth for the Industrial Automation segment in the future.
On the cost side, the company will continue to consequently pursue its projects to increase efficiency and productivity as well as to optimize production (lean production). In addition, management expects that the revenue growth will develop more strongly in the future than investments and this dynamics will have a positive impact on cash-flow. ISRA also expects additional positive cash-flow effects from optimizing of production, thereby reducing the working capital. The technology and cost leadership significantly contribute to maintaining the profitability of the company and continuously increasing it.
In addition, part of the long-term growth strategy is the external growth by means of acquiring suitable companies. Several strategic acquisition targets are currently being analyzed. For the year 2012, management anticipates the completion of at least one acquisition.
The good revenue growth in the first six months of 2011/2012, the order backlog of approximately 55 million euros and the strong order entries form a solid base for additional growth, thereby underscoring the guidance for the current financial year. For 2011/2012 (October 01, 2011 to September 30, 2012), the company plans a double-digit organic revenue growth to more than 80 million euros and at least stable margins. Management continuously focuses on the improvement of margins as well as the goal of surpassing the revenue mark of 100 million euros in the medium-term.
- Revenue growth in the 1st half year plus 14% to 37.3 mill. Euros (compared to HY1 10/11)
- EBT growth in the 1st half year plus 15% (compared to HY1 10/11)
- Gross margin to total output stabilized at 60% (HY1 10/11: 60%)
- Margins to total output constant at a high level:
- EBITDA margin at 26% (HY1 10/11: 26%)
- EBIT margin at 17% (HY1 10/11: 17%)
- EBT margin at 16% (HY1 10/11: 16%)
- Operative cash-flow slightly improved, despite high order backlog (compared to Q1 11/12)
- Current order backlog of approx. 55 mill. euros
- Earnings per share (EPS) increased to 1.02 euros (PY: 0.90 euros)
- Guidance for the financial year 2011/2012 confirmed: Organic revenue growth to more than 80 mill. euros
ISRA VISION AG (ISIN: DE 0005488100), one of the world's leading companies of industrial image processing (Machine Vision), global market leader for surface inspection systems, and one of the leading 3D machine vision providers increased revenues in the first six months of the 2011/2012 financial year (October 01, 2011 to March 31, 2012) by 14 percent to 37.3 million euros compared to the same period of the previous year (PY: 32.6 mill. euros). On the way to ISRA's mid-term goal of surpassing the revenue mark of 100 million euros, this double-digit organic growth is an additional important step.
Profitability continues where the first quarter of 2011/2012 left off, with once again a double-digit increase, whereby the earnings margins carry on to be at a high level. EBT margin based on total output was at 16 percent (PY: 16%), and EBT (Earnings Before Taxes) increased by 15 percent to 6.5 million euros compared to the first six months of 2010/2011 (PY: 5.7 mill. euros). Referenced to total output, the EBIT margin was at 17 percent as in the previous year (PY: 17%). After depreciation totaling to 3.7 million euros in the first six months (PY: 3.5 mill. euros), EBIT (Earnings Before Interest and Taxes) increased by 14 percent to 6.9 million euros (PY: 6.1 mill. euros). For EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), the margin also stabilized at 26 percent to total output (PY: 26%).
With 60 percent based on total output (PY: 60%), gross margin (total output minus material and labor costs for production and engineering) is in the mid-term target range and emphasizes the overall strong margin level. The equity ratio rose by one percentage point to 58 percent (PY: 57%). Cash-flow from operating activities improved in the first six months from 1.0 million euros in the first quarter to 5.6 million euros. As of March 31, 2012, cash and cash equivalents in the amount of 8.5 million euros were available (PY: 5.8 mill. euros).
Regarding the regional development of the business, ISRA is profiting from its strong worldwide presence. In the second quarter of the 2011/2012 financial year, the double-digit growth is again supported by all regions. In Asia, growth continued at a high level. Europe and the Americas demonstrated similar dynamics as Asia in the previous year. The new location in Russia has already established itself and shows first impulses. With investments in Brazil, ISRA is expanding its presence in South America. Indonesia is the next market which ISRA plans to establish.
In both business segments, ISRA further expanded its good market position. In the Surface Vision area, revenues rose by 15 percent to 32 million euros (PY: 27.8 mill. euros) compared to the first six months of the previous year. EBIT reached 5.9 million euros (PY: 5.2 mill. euros), which placed it 15 percent higher than the previous year's value. This development was carried, in particular, by the business units Plastics, Paper, Specialty Paper and Print. The Glass and Metal units were further strengthened by investing in sales, which also led to important order entries in the current quarter. Product innovations for quality assurance in the Solar unit show impulses for further growth, particularly in Asia. For the second half of the financial year, the company anticipates a continuation of the good development of the first six months in nearly all industries that are being addressed - an expectation that is also based on the new product introductions and the intensification of marketing and sales activities.
In the Industrial Automation segment, in which ISRA concentrates almost exclusively on the automotive industry, revenues increased in the first six months of 2011/2012 to 5.2 million euros (PY: 4.8 mill. euros). For the same period, EBIT increased to 1.0 million euros (PY: 0.9 mill. euros). The expected positive development in this area is essentially carried by the strong demand for automation technology at the premium manufacturers in the automotive sector. Additional high order entries are being recorded from Germany as well as Europe and Asia. The successful exhibition presentation of the new generic 3D Vision product portfolio will be an additional driver of growth for the Industrial Automation segment in the future.
On the cost side, the company will continue to consequently pursue its projects to increase efficiency and productivity as well as to optimize production (lean production). In addition, management expects that the revenue growth will develop more strongly in the future than investments and this dynamics will have a positive impact on cash-flow. ISRA also expects additional positive cash-flow effects from optimizing of production, thereby reducing the working capital. The technology and cost leadership significantly contribute to maintaining the profitability of the company and continuously increasing it.
In addition, part of the long-term growth strategy is the external growth by means of acquiring suitable companies. Several strategic acquisition targets are currently being analyzed. For the year 2012, management anticipates the completion of at least one acquisition.
The good revenue growth in the first six months of 2011/2012, the order backlog of approximately 55 million euros and the strong order entries form a solid base for additional growth, thereby underscoring the guidance for the current financial year. For 2011/2012 (October 01, 2011 to September 30, 2012), the company plans a double-digit organic revenue growth to more than 80 million euros and at least stable margins. Management continuously focuses on the improvement of margins as well as the goal of surpassing the revenue mark of 100 million euros in the medium-term.
Über ISRA VISION AG
ISRA Vision AG, together with its subsidiaries, is the world market leader for surface inspection systems. Furthermore, it is one of the globally leading providers of machine vision programs, specialising in the area of 3D machine vision, in particular for "3D robot vision".
The core competence of the company is the ISRA-BrainWARE®, an innovative software for intelligent machine vision systems. Here, the scientific know-how from the fields of optics, lighting technology, surveying technology, physics, image processing and classification algorithms and a complex system design are combined. Machine vision is a key technology for visualising systems that imitate the human eye. Today's ISRA applications focus primarily on the automation of production and quality assurance of goods and products supplied to large, future-oriented markets such as energy, healthcare, food, mobility and information. The customers mainly include renowned global players from the respective sectors. With approx. 25 locations worldwide, ISRA offers customer proximity everywhere and ensures optimum service and support.
In the past fourteen years, ISRA has shown profitable growth with an annual average increase in sales of 30 per cent. Profits have increased by approximately 35 per cent annually. Currently ISRA employs around 480 people worldwide.
Further information is available at www.isravision.com.
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