Q3-2009/2010: Quarterly revenues + 24%, Quarterly EBT + 38%; Nine-month revenues + 5%, Nine-month EBT + 18%
ISRA VISION AG: Strategy has proven itself - Strong third quarter - Forecast confirmed again for 2009/2010(PresseBox) (Darmstadt, )
- Revenue growth accelerates in 3rd quarter to 24 percent (compared to previous year's quarter)
Surface Vision plus 17 percent and Industrial Automation plus 97 percent
- Revenues grow in the first 9 months by 5% to 43.4 million Euros (compared to previous year's period)
Largest segment, Surface Vision, grows by 8 percent in 9 months to 36.5 million Euros
- EBT grows in the first 9 months by 18 percent to 7.2 million Euros (compared to previous year's period)
- EBT margin rises by 2 percentage points each to 15 percent of total output or to 17 percent of revenues compared to previous year's period and by 3 percentage points compared to entire previous financial year
- Order backlog approx. 35 million Euros (PY: 33 million Euros)
- ISRA with traditional consistence in planning - forecast for the entire financial year 2009/2010: Revenue increase to approx. 60 million Euros with improved EBT margin
ISRA VISION AG (ISIN: DE 0005488100), one of the world's leading providers of industrial image processing (Machine Vision), global market leader in surface inspection systems, and one of the leading providers for 3D Machine Vision solutions, accelerates growth dynamics and gains further market shares. As expected at the beginning of the year, business has noticably increased in the second half of the year. In the third quarter of financial year 2009/2010 (Apr. 1 to Jun. 30, 2010), revenues rose by 24 percent compared to previous year's quarter. The Surface Vision segment grew by 17 percent. Revenues in the Industrial Automation segment were almost doubled in the third quarter. In addition to a strong increase of the business in Asia and Europe, initial important impulses came from North America. In the ninemonth period from October 1, 2009 to June 30, 2010, corporate group revenues improved by five percent to 43.4 million Euros. The segments Metals and Plastics contributed the largest growth in revenues. In these segments, ISRA improved its good market position even further.
In addition to an innovation offensive, supported by a reinforcement of sales and marketing, ISRA has been able to further improve productivity. This is evident in continuously increased margins. Hence, the gross margin (costs of production in relation to total output) in the ninemonth period increased to 59 percent (9 months of previous year: 58 percent, entire previous year: 58 percent). EBITDA grew by ten percent to 12.3 million Euros and EBIT by 15 percent to 7.8 million Euros. This increased the EBITDA margin (EBITDA to total output) to 25 percent - one percentage point more than in the corresponding previous year's period and two percentage points compared to the entire previous year, and the EBIT margin by two percentage points each - compared to the corresponding previous year's period as well as the entire financial year 2008/2009. EBT (earnings before taxes) increased in the third quarter by 38 percent in comparison to the previous year's quarter. In the first nine months of financial year 2009/2010, EBT increased by 18 percent to 7.2 million Euros compared to the corresponding previous year's period. Thus, the EBT margin (EBT in relation to total output) improved to 15 percent of total output, two percentage points higher than the corresponding previous year's period as well as the entire financial year 2008/2009. The corporate group's annual net profit increased by 15 percent to 5.0 million Euros. Earnings per share reached 1.14 Euros (PY: 0.99 Euros). Based on the good earnings, equity capital increased to 86.4 million Euros (Sept. 30, 2009: 81.2 million Euros). The equity ratio rose to 58 percent (Sept. 30, 2009: 57 percent).
With the strong revenue growth in the third quarter and a good order backlog of currently approx. 35 million Euros (PY: 33 million Euros), management expects an increase in revenues for the entire financial year 2009/2010 (Oct. 1, 2009 - Jun. 30, 2010) to more than 60 million Euros with improved EBT margin. The order entries show the strongest growth impulses in Asia and South America. In Europe, ISRA currently expects a good increase. The positive signals from North America are intensifying. The order entries in the business units Metals and Plastics remain strong. The standard paper sector is showing first positive signals. The Specialty Paper business unit continues to show positive developments. In the Print segments, ISRA's innovations provide a very strong demand. In the Automotive business unit, important customers have abandoned their investment restraint. ISRA expects the business to improve even further here, also as a result of the investment backlog - from the period of financial and economic crisis.
ISRA's longterm growth strategy aims at surpassing the revenue threshold of 100 million Euros in the foreseeable future. For the anticipated business development, ISRA expects a reinforcement of the overall economic environment as well as positive effects from the sales and innovation offensive. This should have a positive effect on the further revenue and profit performance. A key component of ISRA's longterm growth strategy is external expansion through acquisitions of appropriate targets. An additional acquisition is expected for 2011.