ISRA achieves significant growth in revenue (+45%) with increasing profitability (+80%)

ISRA VISION AG: 9 month report 2007/2008

(PresseBox) ( Darmstadt, )
ISRA VISION AG (ISIN: DE 0005488100), globally one of the top five suppliers of industrial image processing (Machine Vision) and the world market leader for surface inspection systems, has accelerated its profitable growth in the third quarter of the 2007/2008 fiscal year. Compared to the first nine months of the previous year, the group's revenue has increased by 45 percent to 46.7 million Euros. The EBIT increased by 9.1 million Euros and has thus more than doubled. The EBT rose by 80 percent to 8.0 million Euros. The EBT margin improved by 15 percent - three percentage points more than in the previous year. After only nine months, the earnings per share reached 1.22 Euros, thus exceeding the value for the entire previous year of 1.18 Euros.

In the first nine months of the 2007/2008 fiscal year (October 1. 2007-September 30, 2008), ISRA greatly increased its revenue especially in Germany, Europe and Asia. The greatest growth impetus came from Asia. ISRA expanded its dominant market position in the Surface Vision sector. The total operating revenue increased here in the first nine months by 54 percent to 39.1 million Euros. The EBITDA improved by 114 percent to reach 10.0 million Euros; the EBIT increased by 212 percent to reach 6.9 million Euros. In the Industrial Automation segment, the total operating revenue increased by 19 percent to 13.6 million Euros. The EBITDA rose by 9 percent to 3.5 million and the EBIT by 14 percent to 2.2 million Euros.

In the first nine months, the revenue in the ISRA Group increased by 45 percent compared to the corresponding period in the previous year to 46.7 million Euros, and the total operating revenue climbed by 43 percent to 52.7 million Euros. The increase in the costs for materials was below average compared to the total operating revenue, increasing by 37 percent to 10.3 million Euros. At 20 percent, the ratio of costs for materials fell two percentage points below the entire previous fiscal year. The total costs of production increased by 40 percent to 21.9 million Euros. The gross margin thus reached 58 percent (previous year: 58 percent). In the third quarter, the gross margin even increased to 59 percent (previous year: 54 percent). ISRA VISION spent 7.9 million Euros on research and development (previous year 5.8 million Euros). The marketing, sales & administration costs increased to 10.0 million Euros (previous year: 7.6 million Euros). The EBITDA improved by 71 percent to 13.5 million Euros. Thus, the EBITDA margin is 26 percent (as of the end of the fiscal year September 30, 2007: 19 percent). ISRA succeeded in more than doubling its EBIT to 9.1 million Euros. The EBT, the primary performance indicator for value-oriented corporate governance, reached 8.0 million Euros - an increase of 80 percent. At 15 percent of the total operating revenue (previous year: 12 percent), the EBT margin fully achieved the target for earnings. The net profit climbed by 71 percent to 5.3 million Euros. The results per share increased to 1.22 Euros (previous year: 0.71 Euros), thus exceeding the value of the entire previous year after only nine months.

ISRA is continuing its dynamic growth, which has gone on uninterrupted for ten years now. To take advantage of its major market potential, the company is investing in expanding its sales team. In the current fiscal year, sales and services have increased by 20 percent. ISRA will be opening sales offices in Russia and India in the upcoming months.

The integration of the acquired companies is proceeding according to schedule and will be complete at the end of the year, at the latest. The goal was to bring Parsytec's profitability - measured in its EBT margin - in line with ISRA's. This goal has largely been reached. An important step towards further improving its profitability is now effectively optimizing the administration, which is currently being actively handled. With its innovative, high-performance products and product lines, such as those in the segment of printed electronics and sheet offset printing, ISRA also wants to acquire additional customers and increase its market penetration. In addition to this, ISRA will be expanding the field of application of its inspection systems to include solar power plants.

With its current order backlog of 40 million Euros, ISRA is adhering to the growth targets it has been releasing up till now.
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