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Profitable growth plan consequently implemented - ISRA increases revenues by 16 percent, EBT by 24 percent

Preliminary annual financial statement for financial year 2010/2011 / Another year of double-digit growth in revenues and profit as forecasted

(PresseBox) (Darmstadt, ) .
1. Revenue growth plus 16% to 75.2 mill. Euro (FY 09/10: 64.9 mill. Euro)
- Industrial Automation: revenues plus 26%, Surface Vision: revenues plus 14%
2. EBIT growth plus 23% to 14.1 mill. Euro (FY 09/10: 11.5 mill. Euro)
3. EBT growth plus 24% to 13.2 mill. Euro (FY 09/10: 10.6 mill. Euro)
4. EPS plus 29% to 2.09 Euro (FY 09/10: 1.62 Euro)
5. Increasing margins:
- EBT margin at 16%compared to total output, 18% to revenues (FY 09/10: 15% respectively 16%)
- EBIT margin at 17% compared to total output, 19% to revenues (FY 09/10: 16% respectively 18%)
- EBITDA margin at 25% compared to total output, 28% to revenues (FY 09/10: 24% respectively 27%)
6. Gross margin at 60% compared to total output (FY 09/10: 59%)
7. High order backlog of over 40 mill. Euro
8. Forecast: Continued profitable growth for financial year 2011/2012 expected - detailed forecast in February 2012

ISRA VISION AG (ISIN: DE 0005488100), one of the world's leading companies of industrial image processing (Machine Vision), global market leader in surface inspection systems, and one of the leading 3D Machine Vision providers, has fulfilled the growth forecasts and further increased profitability based on audited - but not yet certified - figures for the financial year 2010/2011 (10-01 to 09-30) in the group, as well as in the past years. The company increased revenues by 16 percent to 75.2 mill. Euro. The EBIT (Earnings before Interest and Taxes) grew by 23 percent to 14.1 mill. Euro (FY 09/10: 11.5 mill. Euro), corresponding to an EBIT margin compared to total output of 17 percent (FY 09/10: 16 percent) and 19 percent to revenues (FY 09/10: 18 percent). The EBT (Earnings before Taxes) increased by 24 percent to 13.2 mill. Euro (FY 09/10: 10.6 mill. Euro). This corresponds to an EBT margin of 16 percent compared to total output (FY 09/10: 15 percent) and 18 percent to revenues (FY 09/10: 16 percent). The traditionally strongest fourth quarter (07-01 to 09-30) as well confirmed the forecasts with an increase in revenues to 23.5 mill. Euro (Q4 09/10: 21.5 mill. Euro) and corresponding margin increases. The net profit for the period of 9.1 mill. Euro is the highest in the history of the company and stands for an increase of 30 percent over the previous year (FY 09/10: 7.0 mill. Euro). This results in a positive EPS (Earnings per Share) of 2.09 Euro (FY 09/10: 1.62 Euro).

The costs of production have been optimized further compared to the previous year, so that ISRA reached the goal of a gross margin in the amount of 60 percent compared to total output (FY 09/10: 59 percent). The expenses for research & development and for sales & marketing increased inparallel with the increase in revenues. The costs for administration remained at a low level as in previous years. The depreciation and amortization increased by 18 percent compared to the previous year to 7.3 mill. Euro. The EBITDA (Earnings before Interest, Taxes, and Depreciation and Amortization) increased by 21 percent to 21.4 mill. Euro (FY 09/10: 17.7 mill. Euro) - a margin increase of one percentage point to 25 percent compared to total output (FY 09/10: 24 percent). The operative cash flow rose to 10.1 mill. Euro (FY 09/10: 7.7 mill. Euro). Overall, the reported equity capital ratio improved by 2 percentage points to 57 percent (FY 09/10: 55 percent) as of 2011-09-30. In conjunction with available credit lines, ISRA has a good basis for future growth.

From a regional perspective the positive business development from the first quarters continued. Earnings increased in a double-digit range across all regions. The revenues in North America increased significantly, and exceeded the development in Europe on a percentage basis. With significantly more than 30 percent of the total revenues, Asia will also play an important role in the future. To strengthen the market activities even further, the company invests in the future growth regions of Russia and Brazil with own subsidiaries. In Western Europe, ISRA intensified its market presence with a branch in Paris.

In the previous financial year, ISRA continued to increase its market shares internationally. With more efficient products and the successful implementation of a broad innovation and marketing offensive, the company profited from the investment activities of important customers. Hence, it was once again possible to further expand the strong market position in the two segments Surface Vision and Industrial Automation. Revenues in the Surface Vision segment rose by 14 percent to 60.6 mill. Euro (FY 09/10: 53.3 mill. Euro) so that ISRA could further strengthen its position as global innovation and market leader in this sector. EBIT improved by 21 percent to 11.6 mill. Euro (FY 09/10: 9.6 mill. Euro), the EBIT margin by one percentage point to 17 percent. With respect to the markets, the Plastics business unit developed above average at a high level with a strong double-digit growth. A significant revenue contribution was also made by the Glass, Print and Paper units. The market investments in the Metals area did not result in the expected growth impulses in the previous financial year. In the Industrial Automation segment, in which the sales activities are focussed almost exclusively on the automotive industry, ISRA increased revenues by 26 percent to 14.6 mill. Euro (FY 09/10: 11.5 mill. Euro). EBIT rose by 36 percent to 2.6 mill. Euro (FY 09/10: 1.9 mill. Euro). The EBIT margin improved to 15 percent compared to total output (FY 09/10: 14 percent).

The revenue target "100+" with profitable growth remains at the focus of the growth strategy in the medium term. ISRA continues the innovation and marketing offensive undiminished, additional products and applications will be introduced to the market in the coming years. Expertise from the high-end system product area are currently transferred to generic standard products. The market introduction of these new products in the 3D segment is planned for the second half of the financial year 2011/2012. Management has positive expectations for the current financial year, particularly for the areas Automotive, Paper, Plastics and Print. For Specialty Paper, ISRA is currently preparing larger orders with strategic customers. The company will continue to invest in worldwide sales and marketing. Strengthening the personnel in sales as well as in the other value-added areas is intended to prepare ISRA for the next growth step.

At the same time, the external growth with the acquisition of suitable companies is part of the growth strategy. With close to ten successful integrations, ISRA has a good expertise in this area. In this context, decisive criteria are that they complement the existing product portfolio of ISRA in a meaningful way, increase the market share or provide the opportunity of developing new markets. The management has already examined two possible strategic targets in detail and expects to finalize them in the very near future.

With an order backlog of over 40 million Euros, ISRA intends to continue its double-digit growth in the current financial year. With respect to the situation in the markets the expected growth will be probably at a lower double-digit range. The multi-segment strategy is thereby an important factor. The company is diversifying not only across the two application fields of surface inspection and production automation, but also across different customer sectors in different geographic regions. This broad strategic positioning makes ISRA more robust and independent with respect to regional and economic fluctuations, which has already been shown in the economic crisis of 2008/2009. ISRA will communicate the annual forecast for the financial year 2011/2012 beginning of February.


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 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 over 20 locations worldwide, ISRA offers customer proximity and ensures optimum service and support.

In the past twelve 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.

On 30.09.2010, ISRA employed around 440 people worldwide.

Further information is available at www.isravision.com.

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