Double-digit growth in the first half of 2010/2011: Strong order entry confirms annual forecast

ISRA VISION AG: First six months - Revenues grow by 20% and EBT by 24%

Darmstadt, (PresseBox) - .
- Revenue growth in the 1st half of financial year plus 20% to 32.6 mill. Euros (compared to 1st half of 09/10), plus 25% in the 2nd quarter (compared to previous year's quarter)
- EBT growth plus 24% in the1st half of financial year (compared to 1st half of 09/10), plus 34% in the 2nd quarter (compared to previous year's quarter)
- Gross margin reaches 60% to total output (1st half of 09/10: 58%)
- Further margin increases, all referenced to total output:
EBITDA margin at 26% (1st half of 09/10: 25%)
EBIT margin at 17% (1st half of 09/10: 16%)
EBT margin at 16% (1st half of 09/10: 15%)
- Strong order backlog of over 40 mill. Euros as of 05-30, 2011
- Additional gains in market shares in the Surface Vision segment

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, significantly increased revenues in the first half of financial year 2010/2011 (October 1 to September 30) by 20 percent to 32.6 million Euros compared to the same period of the previous year (PY: 27.3 million Euros). All relevant earning ratios could be improved disproportionately.

The EBT margin to total output increased in the first six months of the financial year by one percentage point to 16 percent (PY: 15 percent). EBT (earnings before taxes) reached 5.7 million Euros. That corresponds to an increase of 24 percent compared to the first half of 2009/2010 (PY: 4.6 million Euros). EBITDA (earnings before interest, taxes and depreciation) recorded a margin increase to 26 percent in the first half year (PY: 25 percent to total output). The production costs developed disproportionately to the total output. In the first half of 2010/2011, this led to an improved gross margin (total output minus material and personnel costs from production and engineering) of 60 percent (PY: 58 percent).

Benefited by the earnings development, the equity capital increased by 3.0 million Euros to 91.3 million Euros, thereby increasing the equity ratio to 58 percent (PY: 55 percent). Due to an improved claim management, cash-flow from operating activity as of 31 March 2011 rose by 3.6 million Euros to 5.6 million Euros compared to the previous quarter (Q1) (PY: 3.8 million Euros).

The good business development from the first quarter dynamically continued in the second quarter across all the regions. In North America, revenues increased significantly. The positive development in Europe and Asia continued. In the first half of 2010/2011, revenues in the Surface Vision segment increased by 22 percent to 27.8 million Euros (PY: 22.8 million Euros). Responsible for this development were the business units Glass and Plastics, which are part of the strongest performers in the Surface Vision segment next to Metals. Order entries increased strongly, particularly for Glass, Plastics and Paper, so that these business units will contribute significantly in the second half of the financial year. At the same time, the outlook for Solar is also very positive. An effect in this case is the successful integration of Graphikon, which was acquired in the previous year; it is well positioned particularly in the inspection of wafer-based solar cells and counts renowned companies of the solar industry as its customers. For the Business Units Metals and Print a positive development is expected for the second half of the year. In the Industrial Automation segment, revenues increased by eight percent. The increased order entries from the automotive industry showed a very good effect on revenues and profit in the Industrial Automation segment and indicate a strong performance for the second half of the year.

In the context of the mid-term growth strategy (100+), ISRA continues to pursue the goal of surpassing the revenue threshold of 100 million Euros in the foreseeable future. The positive development in the first half of financial year 2010/2011 underlines the efficiency of the measures taken by the management. ISRA continues the innovation and marketing offensive undiminished, additional products and applications will be introduced to the market in the coming years. At the same time, the external growth with the acquisition of suitable companies is part of the growth strategy. Several strategic targets are currently being analyzed. The management anticipates the conclusion of a further transaction in 2011. To prepare the company for the 100+ goal, the management of the value-added areas has also been strengthened with experienced specialists.

The positive revenue growth in the first half of 2010/2011, the order backlog of more than 40 million Euros (as of 05-30, 2011) and the strong order entries form a solid basis for the current financial year. For 2010/2011 (October 1, 2010 - September 30, 2011), the company anticipates a double digit revenue growth to significantly more than 70 million Euros. The goal of further improving the margins is actively being pursued.


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.

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