DGAP-News: Viscom AG: Business development shaped by effects of COVID-19 pandemic. Third quarter remains modest.
DGAP-News: Viscom AG
/ Key word(s): 9 Month figures
Viscom AG: Business development shaped by effects of COVID-19 pandemic. Third quarter remains modest. Revenue: € 41,563 thousand (previous year: € 60,709 thousand)
On 3 November 2020, the management also declared that the effects of the ongoing COVID-19 pandemic on the business activity of Viscom AG, especially in the automotive sector, had resulted in the company adjusting the annual forecast last confirmed in Viscom AG's consolidated interim financial statements. The management of Viscom AG now expects consolidated revenue of between € 59 million and € 65 million for the 2020 financial year (previous forecast: € 65 million to € 80 million). The EBIT-Margin for the 2020 financial year is likely to be between -11.9 % and -7.7 % (previous forecast: between -7.7 % and +2.5 %), with EBIT of between € -7.0 million and € -5.0 million (previous forecast: between € -5.0 million and € +2.0 million). The economic disruption caused by the pandemic is severely affecting the ability to make predictions and is thus resulting in considerable forecast uncertainty. The management nevertheless sees light on the horizon. Viscom customers' and suppliers' production chains are slowly getting started again, and customer enquiries are increasing. Incoming orders in the third quarter alone amounted to € 16,788 thousand, up by around 79 % on the previous quarter (€ 9,376 thousand). Cumulatively, orders totalling € 42,092 thousand (previous year: € 61,188 thousand) were received in the first nine months of 2020. With infection rates rising sharply again and a second lockdown, however, there is some uncertainty over the further course of the economic recovery and incoming orders. Viscom's inspection systems are represented all over the world in the automotive supplier segment within the electronics industry, one of the largest branches of industry. The automotive industry has been hit hard by the COVID-19 pandemic, having already been under assault for some years by the ongoing diesel crisis, problems with the introduction of the new WLTP emissions test standard and weakening export markets. This is aggravated by the fact that the COVID-19 pandemic has come in a time of upheaval for the automotive industry. For some years, the sector has been preoccupied by challenges such as the digitalisation of production, electromobility, autonomous and connected driving, and new mobility options, which confront it with fundamental changes. However, every crisis comes with opportunities. Companies are having to review efficiency in production and supply chains or to press ahead with the restructuring required in response to the megatrends. They should be assisted in this by the measures enacted in the government's stimulus package in June 2020 to encourage investment in innovation and future technologies, including zero-emission mobility. This is where the opportunity for Viscom now lies, because inspection systems help to improve and increase quality and thus efficiency in Viscom customers' production. In many cases, technological transformation and associated technical changes in customers' production lines call for new inspection systems in order to meet the expanded requirements. The management of the mechanical engineering firm from Lower Saxony also expects catch-up effects in the medium term. The delivery of battery inspection systems for testing round cells scheduled for the third quarter of 2020 was carried out as planned. Several systems were delivered to the USA and integrated into an appropriate production line in order to realise fully automated testing. A prototype for testing pouch cells, which are used in electric cars, smartphones and tablets, was also built in the third quarter of 2020. A new software module in the Viscom vVision software will enable the inline 3D computed tomography of pouch cells. This guarantees Viscom customers high quality and security standards when using these battery cells. Customer delivery is expected before the end of 2020. The construction of the first system for the variant for testing large and heavy assemblies in the electromobility segment is already complete. Devices up to 40 kg such as inverters from electric vehicles can thus be subjected to inline X-ray inspection. Here, too, Viscom expects to deliver to the customer before the end of 2020. Overall, all envisaged members of the new X7059 AXI system family were thus advanced as planned. In the field of optical 3D inspection, a sensor system for the 3D measurement of bonding wires has been developed. This means that even bonding wires with a diameter of less than 50 µm can now be measured in three dimensions. The new customer care teams for the AOI, AXI, MXI, Bond Inspection/IBV, SPI, CCI product areas and the battery and equipment inspection application areas established themselves successfully in the third quarter of 2020. The new teams will provide our European customers with assistance and support in the selection of the right inspection solution, procurement, commissioning, training and maintenance. Through the integration of specialist sales, project management, application, service and the hotline in the customer care teams, nearly all queries and incidents can be resolved directly in the team: customer proximity is increased and processing times are reduced. Viscom's strategy of unlocking special revenue potential in the inspection of energy storage products - i.e. in battery inspection - was likewise implemented successfully in the third quarter. The company received a major order to supply X-ray inspection systems to a customer in the battery production sector. The order has a total volume of around € 4 million and will largely affect revenue in the 2021 financial year. Viscom AG has used the last few months to review old structures and go in new directions. The management believes the Viscom Group is well positioned to return to sustainable and profitable growth after the crisis. You can now find the Group Interim Report as at 30 September 2020 in the Investor Relations section of the website at www.viscom.com. OPERATING FIGURES
SEGMENT INFORMATION
Contact: Viscom AG Investor Relations Anna Borkowski Carl-Buderus-Str. 9-15 30455 Hannover Tel.: +49-511-94996-861 Fax: +49-511-94996-555 [email protected]
12.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Viscom AG |
Carl-Buderus-Strasse 9-15 | |
30455 Hannover | |
Germany | |
Phone: | +49 (0) 511 94 996 861 |
Fax: | +49 (0) 511 94 996 555 |
E-mail: | [email protected] |
Internet: | www.viscom.de |
ISIN: | DE0007846867 |
WKN: | 784686 |
Listed: | Regulated Market in Frankfurt (Prime Standard), Hanover; Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1147218 |
End of News | DGAP News Service |
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1147218 12.11.2020