Transaction volume in 9M/18 increased by 44.2 percent

Wirecard AG had an extremely successful third quarter and first nine months of the current 2018 fiscal year.

Transaction volumes processed through the Wirecard platform grew in the first nine months of 2018 by 44.2 percent to EUR 90.2 billion (9M/2017: EUR 62.5 billion).

In this period, consolidated revenues increased by 41.4 percent to EUR 1.4 billion (9M/2017: EUR 1.0 billion). In the first nine months, earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 38.0 percent to EUR 395.4 million (9M/2017: EUR 286.6 million).

In the third quarter of 2018, consolidated revenues for the Group increased by 34.8 percent to EUR 547.1 million (Q3/2017: EUR 405.9 million). EBITDA increased by 36.3 percent to EUR 150.1 million (Q3/2017: EUR 110.1 million).

Earnings after tax increased in the nine month period 2018 by 48.5 percent to EUR 250.2 million (9M/2017: EUR 168.5 million).

The cash flow from operating activities (adjusted) amounted to EUR 310.1 million. Free cash flow increased by 42.0 percent to EUR 257.3 million (9M/2017: EUR 181.2 million).

Wirecard CEO Dr. Markus Braun commented: "We expect strong business growth in both the fourth quarter of 2018 and also the coming 2019 fiscal year."

In view of the strong business performance, the Management Board has increased its EBITDA forecast for the 2018 fiscal year to between EUR 550 million and EUR 570 million (previously EUR 530 million to EUR 560 million).

The Q3/9M 2018 Interim Report as of 30 September 2018 is available on the company’s website at: ir.wirecard.com/financialreports

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OMADA A/S to receive strategic investment from CVC Capital Partners‘ Growth Fund and GRO Capital

 Omada A/S (“Omada” or the “Company”), a global leader of Identity Governance and Administration (“IGA”) software and services, today announced that CVC Capital Partners’ Growth Fund (“CVC Growth Partners” or “CVC”) and GRO Capital (“GRO”) have agreed to become new majority shareholders and provide further capital into the Company to accelerate growth.

CVC Growth Partners and GRO will partner with Omada’s management team to further accelerate Omada’s product innovation, grow its partner network in North America and Europe, enhance sales and marketing efforts, as well as continue expanding its strong position in Europe and building greater depth in the North American market.

Omada is headquartered in Copenhagen, Denmark, with over 270 employees across offices in Europe and North America. The Company helps its customers globally to govern and control users’ access rights to enterprise systems and data, reduce risk of accidental or wrongful data access, and ensure compliance with regulation (such as GDPR) as well as industry-specific legislation.

Omada’s software platform, the Omada Identity Suite (“OIS”), is a best-in-class next generation IGA solution. OIS, together with the Company’s unique best practice process framework for identity management and access governance, enables enterprises to manage identities and govern their access on an ongoing basis across heterogeneous IT systems, including major IT vendor platforms delivered on-premises and in the cloud, and a number of legacy and modern applications. The demand for Omada’s offerings has been increasing globally along with customer awareness of potential solutions to their complex identity governance challenges, and the Company has grown revenues at a compounded annual growth rate of over 40% for the last 2 years.

“We are excited about the partnership with CVC and GRO and we look forward to working with them to fulfil our joint vision to serve the majority of enterprises of the world with our strong Identity & Access Governance solution”, said Morten Boel Sigurdsson, CEO and founder of Omada. “CVC and GRO represent a unique combination of competencies that will support our expansion in North America, Europe and other markets. The need for IGA solutions is rapidly increasing across markets as more and more organizations realize the need for a flexible IGA solution to protect them from hacking, insider threats, increased compliance requirements and the consequences of GDPR.”

“The increasingly complex IT world and more stringent compliance requirements globally will continue to drive strong demand for Omada’s next generation identity governance solution, as the Company has proven its ability to successfully solve complex problems for its customers”, said Sebastian Kuenne, who leads CVC Growth Partners in Europe. “Omada represents an exciting opportunity and is a perfect fit for our growth fund, which focuses on high-growth software and technology-enabled business services companies. We, together with GRO, are thrilled to partner with Morten and the entire executive team to expand Omada’s offering and global presence."

“We have followed Omada for close to a decade and are very impressed with the product and their blue-chip customer base. This investment is perfectly aligned with GRO’s strategy of investing in outstanding technology companies and helping accelerate their growth”, said Morten Weicher, partner at GRO Capital. “Morten Sigurdsson has built a very strong team and assembled a deep bench of highly skilled and ambitious individuals operating in a unique culture of teamwork, delivery, and customer service.”

With the entrance of CVC and GROC5 Capital (“C5”) will no longer be shareholders in Omada. “We are pleased to have contributed to the growth of Omada since 2015”, said Andre Pienaar, managing partner and founder at C5 Capital.

Morten Weicher, Sebastian Kuenne, Lars Dybkjær (Managing Partner of GRO Capital), and John Clark (Managing Partner of CVC Growth Partners) will join Omada’s board of directors.

Closing of the transaction is anticipated to take place in December 2018, and is subject only to mandatory competition approvals.

About CVC Capital Partners

CVC Capital Partners is a leading private equity and investment advisory firm. Founded in 1981, CVC today has a network of 24 offices and over 490 employees throughout Europe, Asia and the U.S. To date, CVC has secured commitments of over US$110 billion from some of the world’s leading institutional investors across its private equity and credit strategies. In total, CVC currently manages over US$50 billion of assets. Today, funds managed or advised by CVC are invested in c.70 companies worldwide, employing c.212,000 people in numerous countries. Together, these companies have combined annual sales of over US$74 billion.  For further information about CVC please visit: www.cvc.com.

About CVC Growth Partners

In 2014, CVC formed a new team to target smaller growth-oriented companies through its dedicated CVC Growth Partners fund. The fund focuses on middle-market high-growth companies in the software and technology-enabled business services sectors. The fund primarily targets equity investments between $50 million and $200 million in North America and Europe.

About GRO Capital

GRO Capital is a North European private equity fund with an exclusive focus on mature B2B software and tech enabled companies with strong growth prospects. GRO Capital serves as active owners developing portfolio companies with a view to create long-term value. The partners behind GRO Capital have been investors in more than 20 technology and software related companies. Omada is the first investment in GRO Fund II, a recently raised fund with a strategy to accelerate Northern European software companies. GRO Fund II has in its first closing received capital commitments from institutional investors and multi-lateral organisations, including leading Nordic institutional investors such as Danica Pension, Sampension and Dansk Vækstkapital II. Further, through the European Investment Fund, GRO Fund II benefits from the financial backing of the European Union under the European Fund for Strategic Investments set up under the Investment Plan for Europe. In addition to Omada, GRO Capital has in GRO Fund I invested in Auditdata, Boyum IT Solutions, Tacton Systems, Targit, Trackunit, and Trifork, all successful software providers. For further information about GRO Capital please visit: www.grocapital.dk

About C5 Capital

C5 Capital Limited (C5) is a specialist venture capital firm, focused on Innovative Technologies in Cyber Security, Artificial Intelligence and Cloud Computing. Headquartered in London, C5 also has offices in Washington, Munich, Luxembourg and Bahrain. For more information, visit: www.c5capital.com

 

 

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Wirecard AG: Preliminary results 9M/ Q3 2018

Within the first nine months and third quarter of fiscal 2018 Wirecard AG continued its positive development of revenue growth and operating profit.

Preliminary Group revenues after nine months 2018 increased at around 42 percent to EUR 1.447 billion (9M/2017: EUR 1.021 billion). In the third quarter 2018 revenues increased by 35 percent to EUR 549.2 million (Q3/2017: EUR 405.9 million).

According to preliminary figures earnings before interest, tax, depreciation and amortisation (EBITDA) improved by 38 percent to EUR 395.5 million (9M/2017:
EUR 286.6 million) in the first nine months of 2018. In the third quarter 2018 EBITDA increased, in comparison with the previous period, by approx. 36 percent to
EUR 150.1 million (Q3/2017: EUR 110.1 million).

The Management Board of Wirecard AG expects a strong business development in the fourth quarter 2018 and confirms its forecast for earnings before interest, tax, depreciation and amortisation (EBITDA) of between EUR 530 million to EUR 560 million.

All results are preliminary. The quarterly statement for the third quarter 2018 will be published on 14 November 2018.

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SFC Energy: PBF Group B.V. receives serial order for fully integrated laser power supply systems

  • Order is for LASY series power supplies by PBF in various configurations for ideally adapted number of channels in laser systems.
  • LASY series builds on PBF’s successful standard and semi-standardized High Power Platform for fast and cost-attractive customization.
  • Order amount in the middle six-digit EUR range. Annual revenue potential following system introduction in 2020: approx. EUR 2 to 3 million.

PBF Group B.V., Dutch subsidiary of SFC Energy AG (F3C:DE, ISIN: DE0007568578), a leading provider of hybrid power solutions to the stationary and mobile power generation markets, announces the receipt of a series order from their partner Schulz-Electronic GmbH, Baden-Baden, Germany: An international laser tool producer has ordered fully integrated LASY laser power supply systems for the direct operation of diode pumped fiber lasers used in material processing. The first series order amount is in the middle six-digit EUR range. Following system introduction in 2020, PBF expects annual revenues of EUR 2 to 3 million for the subsequent period.

Laser diodes require very stable, precise, often highly dynamic power supplies. PBF’s powerful power supplies feature an extremely high energy density solution for the highly sensitive laser diode loads. Dynamic load adjustment between grid connection and laser unit ensures optimum efficiency with the dynamic, fast pulsability required in laser systems. The power supplies also significantly increase total system performance and lifetime, enabling new and optimized applications.

The series order is the result of the success of PBF’s prototype power supplies in the customer’s laser systems. PBF developed the LASY laser power supply system on the basis of their successful standard and semi-standardized PBF High Power Standard Platform. The fully integrated plug & play solution combines a high performance PBF power supply with multiple pulsable current drivers, and eliminates the need for external modules the customer had to purchase separately in the past. Load current supply can be configured and scaled on demand, featuring attractive new options plus decisive cost, quality and service advantages.

“Our PBF LASY systems adapt flexibly to the different electric conditions of the producers’ respective laser diodes. In addition, they enable exact and precise dimensioning of the required electrical output power to meet existing circumstances”, says Hans Pol, Managing Director of PBF and President Industrial of SFC Energy. “This unbeatable flexibility, together with the attractive price and performance benefits, open up an increasing number of new applications and customer segments for our high performance power supplies. We see a substantial potential for them in the international laser industry and many other applications requiring ultimate flexibility and cost efficiency.“

Additional information on SFC Energy, PBF, and SFC Group’s portfolio of power electronics and power generation products at www.sfc.com and www.pbfgroup.nl. Additional information on Schulz-Electronic at www.schulz-electronic.de.

About PBF Group

PBF Group B.V., a company of SFC Energy Group, specializes in power supply solutions and special coils. The Company is active worldwide. PBF develops, manufactures, and markets highly reliable standard and semi-standard platform solutions for demanding requirements in laser and semi-conductor manufacturing equipment, analytical applications, and high-tech industrial systems.

About Schulz-Electronic GmbH

Schulz-Electronic GmbH, in Baden-Baden since 1975, is leading provider of professional power supplies in Germany, Austria and Switzerland, offering AC/DC and DC/DC converters, electronic loads, high voltage systems, AC sources, inverters, laser diode drivers and pulse generators. Schulz-Electronic is distribution partner of renowned producers all over the world and authorized German service provider and quasi manufacturer for many products. The Company offers customized energy conversion solutions based on standard, modified and proprietary technologies.

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Wirecard announces Vision 2025 targets for transaction volume, revenues and EBITDA

  • Transaction volume expected to increase to at least EUR 710bn and Group revenues to surpass EUR 10bn
  • EBITDA forecasted to exceed EUR 3.3bn
  • Growth to be delivered from omnichannel solutions from one platform, transition of cash to electronic payments and value-added services which will be extended around the Wirecard Digital Payment Ecosystem

Wirecard, the global innovation leader for digital financial technology, today announces its Vision 2025, setting out its targets for 2025 transaction volume, revenues and EBITDA. Management also announces the key growth drivers to achieve these targets on the back of a rising global transition towards digital payments, mobile and e-commerce.

In 2025, Management forecasts transaction volume to increase to more than EUR 710bn. Group revenues are estimated to reach at least EUR 10bn with EBITDA of more than EUR 3.3bn. Management confirms the previously announced Vision 2020 targets and the FY2018 EBITDA guidance.

Wirecard’s strategy towards achieving the Vision 2025 targets will focus on two core areas. Firstly, through an accelerating convergence between online, mobile and point-of-sale (ePOS), deploying innovative technologies to enable omnichannel commerce via one platform. Secondly, from the constant value chain development and innovative data-led value-added services, which are built around Wirecard Digital Payment Ecosystem and which lead to an improvement in the conversion rate – this is how Wirecard manages to significantly increase merchant turnover through data-driven services.

Wirecard’s CEO Markus Braun, along with senior management, will discuss in further detail all focal areas and the Vision 2025 at the company’s Innovation Day, hosted from 09.00 BST today in London. The webcast of the event will be live from 11 October 09.00 CET onwards at the Investor Relations website. Follow us on Twitter during the day under #ThinkWirecard.

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asknet AG Reports 22% Revenue Increase in the First Half of 2018 and Is on Track for Further Accelerated Growth

  • Consolidated sales revenues increased by 22 percent to 41.41 million euros (1H 2017: 34.08 million euros)
  • Gross profit of 4.34 million euros (1H 2017: 4.31 million euros)
  • Negative earnings before taxes (EBT): -0.24 million euros, but losses reduced by over 50 percent compared to the same period of 2017 (1H 2017: -0.51 million)
  • Guidance 2018: steady growth in revenues and gross profit, EBT remains negative due to additional hiring and technology investments
  • Growth plan 2018-2020: accelerating current growth through additional investments including capital increase scheduled for completion in Q4 2018

asknet AG, an ecommerce services company majority owned by the Swiss-listed international technology and media company The Native SA (www.thenative.ch), achieved a strong increase in consolidated sales revenues of 22 percent to 41.41 million euros in the first six months of 2018. The increase is partly due to the high number of new customers acquired in the eCommerce Solutions Business Unit in the first half of the year. In addition, new shops that had already been set up in the second half of 2017 were further ramped up. asknet AG also gained new customers in the Academics Business Unit, which contributed to the good sales revenues’ development.

Gross profit, the key performance metric for the asknet Group’s business, rose from 4.31 million euros in the prior-year period to 4.34 million euros in the first half of 2018. The gross profit margin in relation to sales revenues declined from 12.6 percent to 10.5 percent. The lower growth rate of the company’s gross profit compared with the strong sales revenue growth is mainly explained with longer income recognition periods in the Academics Business Unit. In addition, some projects were rescheduled to the second half of the year.

Overall, the asknet Group improved earnings before tax (EBT) to -0.24 million euros in the first six months of 2018, after -0.51 million euros in the same period of the previous year. The consolidated net result for the period amounted to -0.47 million euros (previous year: -0.51 million euros).

In the eCommerce Solutions Business Unit, the successful ramp-up of new shops in the reporting period led to a 29 percent increase in revenues, totaling 30.72 million euros (previous year: 23.81 million euros). Gross profit in this business unit also increased significantly by 17 percent to 3.21 million euros. The under-proportional increase is in particular due to the larger number of small and medium-sized customers, which results in a weaker margin on the one hand, but a broader and more stable customer spectrum on the other. In the Academics Business Unit, asknet recorded a 4 percent increase in sales to 10.69 million euros. Gross profit fell from 1.56 million euros to 1.13 million euros. The 27 percent decline is mainly due to completed transactions that were not yet booked to gross profit and project postponements to the second half of the year.

Taking into account the strong results from the first half of the year, the company’s Executive and Supervisory Boards approved on September 26, 2018 the new growth plan for 2018-2020. It aims at providing asknet AG with additional capital to achieve a larger scale of business and sustainable long term profitability. The main focus lies on reinforcing staff in the areas of sales and marketing and developing new technologies and systems allowing for faster onboarding new clients and improving their retention rates. In connection with the new growth strategy, the company also revised its targets for 2018 and onwards. While asknet is continuing to forecast a strong growth in sales revenues and gross profit for the full year 2018, negative earnings before taxes (EBT) in a high six-digit range are accepted in the current year in favour of stronger growth. In parallel to continued high investments, the growth plan aims at further accelerating top-line-growth and exceeding the break-even point in 2019. By 2020, the company intends to at least double its sales revenues and gross profit in comparison to the levels budgeted for the full year 2018, and to achieve strong and sustainable profitability on an EBT basis.

To finance the growth plan, asknet AG’s Executive Board with approval of the Supervisory Board recently decided to execute a capital increase from cash contributions, issuing up to 93,395 new shares at a subscription price of EUR 10.5 per share. Shareholders are granted their statutory subscription rights. An investor, who is currently not a shareholder of asknet AG, will guarantee the capital increase and underwrite the shares that were not subscribed by existing shareholders until the end of the subscription period. The public offer in connection with the capital increase is to be made without a prospectus, but with a securities information sheet, which has been submitted for approval by the Federal Financial Supervisory Authority (BaFin). The approval will presumably be obtained in the course of the day. The subscription offer is expected to be published in the Federal Gazette (Bundesanzeiger) on October 4, 2018, with the capital increase to be fully exercised by the first week of November 2018.

Selected key figures of the Group

January 1 – June 30, 2018

Sales revenues: 41.41 million euros
Gross profits: 4.34 million euros
Gross profit margin (of sales revenues): 10.5%
EBT: -0,24 million euros
Net result for the period: -0,47 million euros
Financial debt: –

January 1 – June 30, 2017

Sales revenues: 34.08 million euros
Gross profits: 4.31 million euros
Gross profit margin (of sales revenues): 12.6%
EBT: -0.51 million euros
Net result for the period: -0.51 million euros
Financial debt: –

The full report on the first six months of 2018 is available on the company’s website at www.asknet.com as of today.

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ABIT Group outperforms targets for H1 2018

The ABIT Group will shape the digitalization of the credit management and collection process with the aim to build Europe´s largest provider of Credit Management and Collections technology.The ABIT Group continues to grow profitably in 2018. In an impressive first half of 2018, revenues grew 10 % and EBITDA increased by 34.5 %.

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Forecast confirmed: Double-digit growth dynamics continue – On the way to the midterm goal 200+: Further growth steps planned for 2018/2019

.
– Revenues rise 10% to 102.8 million euros (Q3-YTD-16/17: 93.3 million euros)
– Significant EBT growth of plus 13% to 20.5 million euros (Q3-YTD-16/17: 18.1 million euros), EBT margin on revenues at record level of 20%
– All earnings margins remain at high level:

  • EBITDA plus 13%, margin 29% of total output and 31% of revenues (Q3-YTD-16/17: 28% and 31%)
  • EBIT plus 13%, margin 18% of total output and 20% of revenues (Q3-YTD-16/17: 18% and 20%)
  • EBT plus 13%, margin 18% of total output and 20% of revenues (Q3-YTD-16/17: 18% and 19%)

– Gross margin 61% of total output (Q3-YTD-16/17: 61%) and 57% of revenues (Q3-YTD-16/17: 57%)
– Net cash flow rises slightly to 5.6 million euros (Q3-YTD-16/17: 5.3 million euros)
– Net liquidity increases to 4.4 million euros (September 30, 2017: -1.3 million euros)
– Strong order backlog of approx. 90 million euros gross (PY: 83 million euros gross)
– Customer service and support expands again – double-digit contribution to revenues
– Next acquisition in preparation
– New products and innovation roadmap boost demand
– Business unit  "Advanced Materials" – former "Plastics" – broadens market approach
– Profitable growth for the financial year of approx. 10% expected, earnings margins at least at the high level of previous quarters

ISRA VISION AG (ISIN: DE 0005488100) – the TecDAX company for industrial image processing (machine vision) and one of the world’s leading suppliers of surface inspection solutions for web materials and of 3D machine vision applications – continues its profitable growth also in the third quarter of the 2017/2018 financial year with double-digit improvements in revenues and earnings and thus successfully maintains the dynamic of the first half of the financial year. As forecasted, revenues increase by 10 percent against the same period of the previous year to 102.8 million euros (Q3-YTD-16/17: 93.3 million euros), while EBT rise significantly by 13 percent to 20.5 million euros (Q3-YTD-16/17: 18.1 million euros). The EBT margin was thus one percentage point higher at 20 percent of revenues (Q3-YTD-16/17: 19%), thereby achieving the long-term target for the first time. In respect to total output, the EBT margin is 18 percent, just as in the previous year (Q3-YTD-16/17: 18%).

The net cash flow was up slightly at 5.6 million euros (Q3-YTD-16/17: 5.3 million euros). With the equity ratio higher by 3 percentage points at 65 percent (September 30, 2017: 62%) and the available credit lines, ISRA has solid capital resources for future growth and is optimally prepared for potential acquisition projects. With a high order backlog of approx. 90 million euros gross (PY: 83 million euros gross), the Company can confirm its targets for the financial year and is set for a good start to the traditionally strong fourth quarter.

ISRA continues to increase its profitability also in the first nine months of the 2017/2018 financial year. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) rise by 13 percent to 32.1 million euros (Q3-YTD-16/17: 28.5 million euros), resulting in an EBITDA margin of 31 percent of revenues (Q3-YTD-16/17: 31%) and 29 percent of total output (Q3-YTD-16/17: 28%). EBIT (Earnings Before Interest and Taxes) also increase by 13 percent to 20.7 million euros (Q3-YTD-16/17: 18.4 million euros), with an EBIT margin of 20 percent of revenues (Q3-YTD-16/17: 20%) and 18 percent of total output (Q3-YTD-16/17: 18%). EBT (Earnings Before Taxes) likewise grow significantly by 13 percent to 20.5 million euros (Q3-YTD-16/17: 18.1 million euros), with the EBT margin thus amounting to 20 percent of revenues (Q3-YTD-16/17: 19%) and 18 percent of total output (Q3-YTD-16/17: 18%). At 61 percent of total output (Q3-YTD-16/17: 61%) and 57 percent of revenues (Q3-YTD-16/17: 57%), the gross margin (revenues/total output less cost of materials and costs of labor in production and engineering) is again at the high level of the same period of the previous year.

Against the backdrop of the dynamic order situation and in preparation for the anticipated strong fourth quarter, inventories rise to 38.3 million euros (September 30, 2017: 32.7 million euros). Trade receivables, which comprise systems already delivered and invoiced of 39.8 million euros in addition to receivables according to the percentage-of-completion method of 53.2 million euros, declined to 93.0 million euros (September 30, 2017: 98.0 million euros). Operating cash flow amounts to 18.3 million euros in the reporting period (Q3-YTD-16/17: 23.3 million euros). Continued measures to enhance productivity and efficiency in production processes and to specifically expand regional management in the area of “Operations and Production” are already planned and will allow additional potential to be leveraged in the coming quarters.

The Company paid out a dividend in the total amount of 2.6 million euros – 0.5 million euros higher than in the previous year – and achieves a slightly increased net cash flow of 5.6 million euros (Q3-YTD-16/17: 5.3 million euros). Following the complete reduction of net debt in the preceding quarters, net liquidity also rises further to 4.4 million euros (September 30, 2017: -1.3 million euros). Earnings per share (EPS) after taxes increase by 16 percent to 0,66 euro (Q3-YTD-16/17: 2.85 euro or 0.57 euro adjusted for the higher number of shares following the stock split on May 23, 2018 for improved comparability).

ISRA’s strong international corporate footprint makes it one of the best positioned providers in the machine vision industry. In the future, its global network of more than 25 locations worldwide will be extended further as continuous international expansion in key industrial centers is a major factor for long-term success. Earnings in all regions are once again at a high level after the third quarter, and the Company is recording strong double-digit growth rates in Europe. In Asia as well, revenues are outperforming the already successful previous year. The dynamic on the American markets is similar to that in the same period of the previous year. By expanding its management, ISRA is planning to tap further revenue potential in a currently positive market environment – particularly in North America.

Both Surface Vision and Industrial Automation once again achieve significant growth in the reporting period. With its innovative robot vision and inline measurement products in the Industrial Automation segment, ISRA delivers to a broad customer base of international automotive manufacturers – including renowned premium producers – and leading companies in other industries. Significant revenue impulses were generated at this year’s AUTOMATICA, one of the  most important trade fairs for industrial automation. In addition to successful solutions for 3D assembly, fully automated paint inspection on car bodies, 3D inline measurement technology and adhesive seam inspection, there was particularly strong demand for “TOUCH & AUTOMATE” products prepared specially for INDUSTRIE 4.0 with a new multi-stereo approach. Revenues rose by 12 percent compared to the same period of the previous year to 25.5 million euros (Q3-YTD-16/17: 22.8 million euros). Segment EBIT grows by 14 percent to 5.1 million euros (Q3-YTD-16/17: 4.5 million euros) – a margin of 18 percent to total segment output (Q3-YTD-16/17: 18%).

Revenues in the Surface Vision segment increase by 10 percent to 77.4 million euros (Q3-YTD-16/17: 70.5 million euros). EBIT rises to 15.7 million euros (Q3-YTD-16/17: 13.9 million euros), giving the segment a margin of 19 percent of total output (Q3-YTD-16/17: 18%). In addition to the large scale order for thin glass inspection for display applications (press release dated April 26, 2018), the management of the glass business unit record further order entries from Asia in particular. In the metals industry, the process analysis modules for quality enhancement and production optimization, as well as for 3D inspection solutions that are used at the beginning of the value chain and minimize downstream rejects are achieving further revenue growth. For historical reasons, revenues generated from more than 40 different materials – including some not directly from the plastics industry – have been aggregated in the plastics business unit. ISRA is now strategically repositioning the Plastics business, putting it up even broader and with an extended focus on innovative materials, which is reflected in the name change to Advanced Materials. With this extended focus, the Company addresses additional revenue potential, while simultaneously strengthening international sales for a targeted approach of these customers. The product innovations for the inspection of printed products have been well received on the market, and the dynamic of this business is at a high level. Cost-optimized products in the paper industry are resulting in significant growth in revenues and, last but not least, the business unit’s performance is also benefiting from the augmentation of management. The security business unit – formerly specialty paper – is expanding its product portfolio of specialized inspection solutions for high-security paper to include fully automated quality assurance for high-security printing, and is currently witnessing further growth. Solar industry revenues develop positively; further potential is anticipated from the “CONNECTED PHOTOVOLTAICS 4.0” software tools for high product quality in multi-line-production – even spread over different locations. In the relatively new semiconductor business unit, the Company has successfully acquired further strategic orders for the inspection of glass wafers and continues its focus on the market launch in Asia. Service products again contribute with double-digits to revenues in the third quarter; to increase the unit’s contribution to total revenues, management is being enhanced in the next months.

ISRA is constantly consolidating its continuous operational growth by expanding its personnel structures and positioning experienced managers in strategic key areas. Along the value chain – including at global level – in Supply Chain, Production and Operations, Digital Business Development, Marketing and Sales in particular, the Company is creating the functional and organizational prerequisites for achieving the revenue target of more than 200 million euros.

In the regions, a further focus lies on the expansion of the infrastructure as well as recruiting further specialists and executive staff: Together with additional office and production capacities at the branches in Shanghai, São Paulo, Berlin, Herten and Darmstadt the departments Sales, Operations as well as the local management are being stepped up at the global locations, including Brazil, the UK, India and the US in particular.

In addition to organic growth, acquisitions are a key component of the long-term strategy, with a focus on target companies that strategically add to ISRA’s technology portfolio, grow its market share and tap new markets. Management is currently analyzing several acquisition projects; for one of these projects – target company generating revenues in the mid-double digit million euros range – the evaluation process is in an advanced stage. Given ISRA’s strong financial position and high equity share, it is a realistic option to finance the acquisition with own funds and borrowed capital.

The current innovation dynamics which is generating further demand with new products, the expansion of branches in various regions, investment in strategically important market areas and the high order backlog of approx. 90 million euros gross (previous year: 83 million euros gross) form a good basis for the traditionally strong fourth quarter and a positive performance in the months ahead. For the financial year, the Company is expecting growth in revenues and EBT at a low double-digit percentage range. In terms of earnings, management is planning to achieve increased or at least stable margins on the current high level. International expansion, operational productivity and cash flow optimization and a strong market position remain top priorities to achieve the revenue dimension of more than 200 million euros through both organic and anorganic growth in the medium term.

Further information is available at www.isravision.com.

ISRA VISION AG voluntarily publishes a pro forma consolidated total operating revenue EBITDA-EBIT statement typical for the industry oriented to the cost-summary method. The key differences between the cost of sales method and the pro forma consolidated total operating revenue EBITDA-EBIT calculation are as follows: Profit margins increase because they are now associated with net sales instead of total output (net sales plus capitalized work). Capitalized work no longer appears in the cost of sales method and is assigned to the R&D functional area. Depreciation and amortization is now spread over the relevant functional areas. The EBIT earnings and the EBT earnings of the pro forma consolidated total operating revenue EBITDA-EBIT statement do not deviate from the consolidated income statement, which corresponds to IFRS.

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Elanix Biotechnologies AG getting confirmation of Outperform Recommendation by goetzpartners securities

  • Outperform statement following webcast presentations to investors on 7 August, 2018
  • Statement is based on commercial roll-out plans presented by Elanix Management
  • Share price target indicated by goetzpartners remains at EUR 6.40

Elanix Biotechnologies AG ("Elanix") has announced today that goetzpartners securities has confirmed their outperform recommendation for Elanix with a target share price of EUR 6.40. The outperform statement is following the webcast presentations for investors hosted by the Elanix management.

Quotes taken from the Flash Note by goetzpartners securities published on 8 August: «We remain enthusiastic about the commercial outlook of Elanix’s Advanced Skin Care ("ASC") and Advanced Wound Care ("AWC") assets, based on their differentiated profiles, large target markets and unmet medical needs. Hence, we maintain and reiterate both our OUTPERFORM recommendation and target price of EUR 6.40 per share».

The outperform recommendation is based on the commercial roll-out of GYNrepair® and the market launch of SKINrepair® in October 2018 with increased sales activities, with the targeted approach to 50 large pharmacies and drugstores key accounts in Germany, France, Switzerland, UK, Italy and Spain, with signed distribution agreements in Benelux, Switzerland and Russia and with approaching distribution partners in the US and Japan.

In addition, Elanix Management has announced plans to launch two additional ASC products in each 2019 and 2020, bringing the total of six ASC products by 2020. Revenues from additional ASC assets, which include gels, masks and creams, will be used to co-finance the further investments into the industrialization and market authorization of AWC portfolio. Financial outlook is anticipating break-even in 2020 and revenues of 33.5 MEUR in 2022.

New COO & CFO Egon Minar is bringing a wealth of commercial expertise to Elanix. With the successful completion of the ongoing capital increase Elanix intends to appoint a finance director who would take over the CFO role in due course to allow Egon Minar to fully focus on operational and commercial activities as well as investor relations.

Press contact:

Elanix Biotechnologies

Tomas Svoboda, CEO

Tel: +41 (0)22 363 66 40

investor.relations@elanix-bt.com

Disclaimer
 

This publication may not be published, distributed or transmitted, directly or indirectly, in the United States of America (including its territories and possessions), Canada, Japan or Australia or any other jurisdiction where such an announcement could be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons who are in possession of this document or other information referred to herein should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This publication does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities of Elanix Biotechnologies AG in the United States of America, Germany or any other juris-diction. In connection with this transaction there will be no publication of a securities prospectus.

Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. The securities referred to herein may not be offered or sold in the United States of America in the absence of registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). The securities of Elanix Biotechnologies AG have not been, and will not be, registered under the Securities Act.

This announcement does not constitute a recommendation concerning the placement of securities described in this announcement. Investors should consult a professional advisor as to the suitability of the Placement for the person concerned.

In the United Kingdom, this document is only directed at persons who (i)are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.)(all such persons together being referred to as "Relevant Persons"). This document must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

In member states of the European Economic Area which have implemented the Prospectus Directive (each, a "Relevant Member State"), this announcement and any offer, if made subsequently, is directed exclusively at persons who are "qualified investors" within the meaning of the Prospectus Directive. For these purposes, the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the Directive 2010/73/EU), and includes any relevant implementing measure in the Relevant Member State.

No action has been taken that would permit an offering of the securities, a purchase of the securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions.

This announcement also does not constitute a prospectus within the meaning of the EU Directive 2003/71/EC of the European Parliament and of the Council of 4 November 2003 as amended ("Prospectus Directive").

Forward-looking statements

This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.

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asknet with high customer demand and double-digit sales growth in the first half of 2018

asknet AG, a subsidiary of the Swiss-listed integrated e-commerce services and marketplaces company The Native SA, recorded high customer demand and a strong performance in the online shops it operates in the first half of 2018. According to preliminary calculations, consolidated 1H 2018 sales revenues rose by 18% compared to the same period of 2017 and amounted to 40.3 million euros.

In the eCommerce Solutions business unit, the large number of new customers gained in the first six months of 2018 contributed to the good performance. In addition, new online shops that had been launched in the second half of 2017 were further ramped up, which led to a significant increase in sales revenues and consequently to rising gross profits. In the Academics business unit asknet AG welcomed further new customers and expanded its geographic footprint, with the most recent new client example being a new framework agreement signed by asknet AG for the distribution of software to state and state-accredited universities and colleges of the German federal state of Saxony. The agreement became effective as of May 2018 for a period of three years and will already noticeably contribute to the results in the second half of 2018.

After a fundamental transformation in the past three years, the company is now moving into a strong growth stage of its business development. To sustain and expand this growth, asknet is investing continuously in new sales resources. In the Academics business unit additional employees were hired in the beginning of 2018 to support the new sales partnership with ANSYS Inc., the global leader in simulation software. As the eCommerce Solutions business unit aims at further internationalizing its operations, new sales resources are being installed in the United States currently. The new operating headquarter of The Native SA in New York City will further contribute to the expansion of asknet’s market position in North America.

Additional investments were aimed at strengthening the technological basis. For example, in May, the eCommerce Solutions business unit launched a new version of its eCommerce suite.

In connection with the new growth path, asknet recently also implemented a new governance structure for its second level of management. This included the establishment of the position of the head of business development and marketing in person of Aston Fallen, reflecting the increased focus on sales and key account management in the asknet group.

The investments in technology, sales and marketing as well as customer support will likely continue in the course of the year.

“We are firmly on the path to transform asknet AG into a fast growing international e-commerce services player and our preliminary 1H 2018 results are the first and clear evidence to that”, commented Sergey Skatershchikov, CEO of asknet AG.

The publication of the final interim consolidated financial statements is scheduled for September 28, 2018.

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