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ISRA: Strong profitable growth for 6th successive year in 2002/2003

„Strong profitable growth for 6th successive year in 2002/2003
\r\nDarmstadt, December 15, 2003 – ISRA VISION SYSTEMS AG recorded strong double-
\r\ndigit growth for the 6th successive year in fiscal 2002/2003 (to September 30).
\r\nThe leading machine vision specialist recorded total operating revenue of EUR
\r\n29.5 million (previous year: EUR 24.7 million) and sales of EUR 26.6 million
\r\n(EUR 22.3 million) – both thus up around 20%, almost exclusively from organic
\r\ngrowth.“;“EBITDA and EBIT growth was particularly strong at 27% and in line with the
\r\ndemanding earnings forecast of more than 25%. EBITDA lifted to EUR 6.9 million
\r\nor 24% of total operating revenue, EBIT to EUR 4.1 million or 14% of total
\r\noperating revenue (EBITDA 22%, EBIT 13%). Pre-tax earnings (EBT) increased by
\r\n20% on last year to EUR 4.1 million and again totaled 14% of total operating
\r\nThe cash flow from operating activities increased by EUR 4.8 million to EUR 6.1
\r\nmillion, net cash flow lifted to EUR 1.6 million (EUR -5.9 million). Their high
\r\nlevel underscores the company’s earnings strength. Together with ISRA’s equity
\r\nratio of 77% these figures form an the base for the company’s ambitious growth
\r\nISRA is continuing to rapidly expand its international activities. In
\r\nparticular the US subsidiary, which also currently has a high level of orders
\r\non its books, recorded strong sales growth – up more than 50% on last year. It
\r\nwas thus responsible for more than 10% of consolidated sales for the first time
\r\nthis fiscal year and made a significantly positive contribution to earnings,
\r\nwhich is also expected for this year. The new Italian sales office has already
\r\nbeen able to win its first orders.
\r\nThe two key segments, glass and automotive industries, which together
\r\nconstitute more than 2/3 of ISRA’s activities, have benefited particularly from
\r\nkey major orders, including the largest order in the company’s history totaling
\r\nEUR 2.3 million. The integration of NANOsystems Messtechnik GmbH is on schedule.
\r\nWithin 6 years ISRA has succeeded in increasing its total operating revenue
\r\nalmost six-fold, and EBT by about ten-fold. ISRA has started fiscal year
\r\n2003/2004 successfully and has an order book of over EUR 10 million, further
\r\nmajor orders expected. The company is planning further profitable, double-digit
\r\ngrowth rates and is explicitly not ruling out additional, suitable
\r\nacquisitions. (NB: IAS figures audited, prior to auditor’s opinion.)
\r\nend of ad-hoc-announcement (c)DGAP 15.12.2003
\r\nWKN: 548810; ISIN: DE0005488100; Index:
\r\nListed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
\r\nBremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
\r\n150750 Dez 03″;0;50;3;“admin“;““;0;“english“;0;0;0;0;0