InVision Software AG Publishes its Final Figures for 2008
AD-HOC NOTICE ACCORDING TO § 15 WpHG
- Revenues decrease by 25 percent to EUR 11.9 million
- EBIT: EUR -8.9 million; group result: EUR -7.8 million
- Outlook: Revenues of EUR 17.5 Mio million and EBIT of EUR -2.2 million in 2009, positive result in 2010
According to its final 2008 figures, InVision Software AG (ISIN: DE0005859698), one of the leading international providers of enterprise-wide workforce management solutions, has achieved group revenues of EUR 11.9 million, representing a 25 decrease compared with the revenues of the previous year of EUR 15.9 million. In total, the Company closed 2008 with a loss before taxes and interest (EBIT) of EUR -8.9 million and a consolidated Group loss of EUR -7.8 million. In 2007, net profit totaled EUR 2.6 million.
The main reason for this decline was the widescale absence of the traditionally strong licence business at the end of the year. Due to the overall economic development, InVision Software encountered an obvious caution in the investment behaviour of many of its customers during the second half of the year 2008. Income generated from licences fell by 65 percent from EUR 9.5 million in the previous year to EUR 3.4 million in 2008. However, revenues from maintenance increased by 24 percent to EUR 3.9 million (2007: EUR 4.7 million) and revenues from services increased by 44 percent to EUR 4.7 million (2007: EUR 3.3 million).
Accordingly, the earnings per share equalled EUR -3.51 compared to EUR 1.17 in 2007, in each case based on 2,235,000 shares issued. At the end of its fiscal year 2008, InVision held liquid funds and securities totalling EUR 12.2 million (2007: EUR 16.7 million) and enjoyed an equity capital ratio of 73 percent (2007: 86 percent).
Even though, based on the current variability among global economic forecasts, any outlook for business development will be saddled with a high degree of uncertainty, InVision does plan to increase its revenues by 47 percent to approximately EUR 17.5 million in 2009 under the assumption that the economic conditions described in the Forecast Report of the 2008 Annual Report will prevail in 2009. According to the Group’s budget forecast, the EBIT margin in 2009 should be -13 percent (2007: -74 percent), thereby yielding an EBIT of EUR -2.2 million. In 2010, another increase in revenues should lead again to a profit.
The complete 2008 Annual Report of InVision Software AG will be available for download on this website, in the section ‘Financial Reports’, on March 31st, 2009.