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

„Strong profitable growth for 6th successive year in 2002/2003
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\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\nrevenue.
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\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\ntargets.
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\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.
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\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.
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\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.)
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\r\nend of ad-hoc-announcement (c)DGAP 15.12.2003
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\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
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\r\n150750 Dez 03″;0;50;3;“admin“;““;0;“english“;0;0;0;0;0