Interim Group Management Report
of InVision AG as of 30 June 2019 pursuant to §315 of the German Commercial Code (condensed/unaudited)
Results of operation
Consolidated revenues increased by 1 percent to TEUR 6,395 during the reporting period (previous year: TEUR 6,342). Workforce Management revenues increased by 2 percent to TEUR 6,211 (previous year: TEUR 6,099). Education revenues decreased by 24 percent to TEUR 184 (previous year: TEUR 243).
Other operating income was at TEUR 78 (previous year: TEUR 56).
The operating result (EBIT) increased in the reporting period to TEUR 365 (previous year: TEUR 47). The EBIT margin in the first-half of the year was 6 percent (previous year: 1 percent).
In the reporting period, the consolidated result equalled TEUR 203 (previous year: TEUR -27). Earnings per share were EUR 0.09 (previous year: EUR -0.01), based on an average of 2,235,000 shares (previous year: 2,235,000 shares).
Net assets and financial position
Cash flow from operating activities reached TEUR 2,918 in the reporting period (previous year: TEUR 1,699), which corresponds to a share of 46 percent of the Group revenues (previous year: 27 percent).
As of the end of the reporting period, liquid funds (cash) increased to TEUR 4,150 (31 December 2018: TEUR 670).
The balance sheet total equalled TEUR 16,494 (31 December 2018: TEUR 12,082), as of the end of the reporting period. Equity capital is now at TEUR 10,383 (31 December 2018: TEUR 10,180), and the equity ratio equals 63 percent (31 December 2018: 84 percent). In this context, we refer to the explanations in the Consolidated Notes on the first-time application of IFRS 16.
Opportunities & risks
Reasonable opportunities for the business development of the InVision Group are described in the forecast report of this interim Group management report and in the Group management report of the previous fiscal year. The risks are described in the Group management report for the previous fiscal year.
After the end of the reporting period, there were no specific events which were of significant importance for the interim financial report.
InVision anticipates stable demand for the products of the InVision Group over the next few years, which means that there are opportunities for sustainable exploitation of the revenue potential. For the upcoming months, the company’s planning mainly focuses on intensifying customer support and investing in methods, processes and technologies for the introduction of software products. The planned measures are intended to reduce current business risks and create opportunities for the sustainable exploitation of revenue potential. InVision expects revenues and EBIT to be at least at the previous year’s level.
Düsseldorf, 18 July 2019
The Executive Board