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May 03, 2018

InVision AG Releases Financial Results for 2018 First Quarter

In the first quarter of 2018 fiscal year, InVision AG (ISIN: DE0005859698) achieved total revenues of EUR 3.092 million, which corresponds to a decrease of 11 percent compared to the first quarter of 2017 (3M 2017: EUR 3.46 million). Revenues of injixo increased by 12 percent up to EUR 0.88 million (3M 2017: EUR 0.788 million). With the conversion to a new offering and pricing for the marketing of individual e-learning courses and the resulting discontinuance of recurring subscription revenues in this area, revenues of The Call Center School went down by 49 percent to EUR 0.112 million (3M 2017: EUR 0.22 million). Revenues from InVision WFM subscriptions totalled EUR 2.007 million (3M 2017: EUR 1.996 million). The project business decreased by 80 percent to EUR 0.093 million (3M 2017: EUR 0.456 million).

In the first quarter of 2018, the EBIT (Earnings Before Interest and Taxes) decreased by 92 percent to EUR 0.047 million (3M 2017: EUR 0.576 million), which was due to lower total revenues and the increase of personnel expenses. The EBIT margin was at 2 percent (3M 2017: 17 percent). The consolidated result declined by 105 percent to EUR -0.027 million (3M 2017: EUR 0.524 million). Accordingly, earnings per share decreased by 104 percent to EUR -0.01 (3M 2017: EUR 0.23).

With an increased operating cash flow by 84 percent to EUR 2.687 million (3M 2017: EUR 1.459 million) liquid funds rose by 108 percent to EUR 4.59 million (31 December 2017: EUR 2.21 million), as of 31 March 2018. With EUR 10.352 million, the equity capital remained on the same level as of the end of 2017 (31 December 2017: EUR 10.38 million). Thus, the equity ratio equalled 60 percent (31 December 2017: 76 percent), based on a balance sheet total of EUR 17.178 million, as of 31 March 2018 (31 December 2017: EUR 13.683 million).

The Company’s Consolidated Interim Statements for the first three months of the 2018 financial year is now available on this website at www.invision.de/investors

March 22, 2018

InVision AG Provides 2017 Consolidated Financial Statement

Today, InVision AG (ISIN: DE0005859698) released its 2017 Consolidated Financial Statement and confirmed the preliminary results for the preceding financial year, which were previously published on 15 February 2018. The InVision Group achieved an increase of total revenues of 6 percent up to EUR 13.163 million (2016: EUR 12.426 million). Revenues of both cloud products, injixo and The Call Center School, each increased by 19 percent - at injixo to EUR 3.273 million (2016: EUR 2.748 million) and at The Call Center School to EUR 0.714 million (2016: EUR 0.599 million).

In 2017, revenues from InVision WFM subscriptions totalled EUR 8.025 million, which is almost on the same level compared to the previous year (2016: EUR 7.961 million). Just as the project business that remained almost unchanged at EUR 1.151 million (2016: EUR 1.118 million). The EBIT (Earnings Before Interest and Taxes) decreased by 62 percent to EUR 1.363 million (2016: EUR 3.547 million), which was mainly due to an increase of personnel expenses resulting from new hires. As of 31 December 2017, InVision employed 130 people worldwide (31 December 2016: 106 employees). The EBIT margin was at 10 percent for the 2017 fiscal year (2016: 29 percent).

The operating cash flow decreased by 86 percent to EUR 0.672 million (2016: EUR 4.742 million). At the end of 2017, liquid funds were at EUR 2.210 million (31 December 2016: EUR 4.009 million). This corresponds to a decline of 45 percent that is mainly due to, besides the inflow from the operating business, the dividend payment to InVision’s shareholders of EUR 1.118 million, as well as the prorated repayment of a bank loan in the amount of EUR 0.75 million to finance the Company’s office property in Düsseldorf, and investments in new assets amounting to EUR 0.579 million.

Equity capital went down by 3 percent to EUR 10.380 million (2016: EUR 10.697 million) Thus, the equity ratio equalled 76 percent (31 December 2016: 68 percent) based on a balance sheet total of EUR 13.683 million, as of 31 December 2017 (31 December 2016: EUR 15.823 million). The consolidated result declined by 66 percent to EUR 0.8 million (2016: EUR 2.321 million). Accordingly, earnings per share decreased by 65 percent to EUR 0.36 (2016: EUR 1.04).

The complete 2017 Annual Report is now available on this website at www.invision.de/investors.

February 15, 2018

Preliminary Results for 2017 Financial Year With Sustained Growth of Cloud Products

According to preliminary figures, InVision AG (ISIN: DE0005859698) generated total revenues of EUR 13.2 million in the fiscal year 2017. This corresponds to an increase of 6 percent compared to the previous year (2016: EUR 12.4 million). injixo cloud revenues increased by 19 percent to EUR 3.3 million (2016: EUR 2.7 million), and cloud revenues from The Call Center School also rose by 19 percent to EUR 0.7 million (2016: 0.6 million). Revenues from InVision WFM subscriptions remained at EUR 8 million, which is almost on the same level compared to the previous year (2016: EUR 8 million). Just as the project business that remained unchanged at EUR 1.1 million (2016: EUR 1.1 million).

In 2017, the Company recorded an EBIT (Earnings Before Interest and Taxes) of EUR 1.4 million (2016: EUR 3.5 million). This corresponds to a decrease of 61 percent and was mainly due to an increase of about 30 percent in personnel expenses. Thus, EBIT margin was at 10 percent for the fiscal year 2017 (2016: 29 percent).

Liquid funds decreased by 45 percent to EUR 2.2 million (31st December 2016: EUR 4 million). Equity capital went down by 3 percent to EUR 10.3 million (2016: EUR 10.7 million), and the equity ratio equals 76 percent (31 December 2016: 68 percent).

The complete 2017 Annual Report will be available from 22th March 2018 on this website at www.invision.de/investors

December 04, 2017

Replacement of up to 16 Percent of Shares

Armand Zohari, one of the three founding shareholders of InVision AG (ISIN: DE0005859698), has announced that he intends to place up to 156,450 directly held shares of the Company, which corresponds to approximately 7% of the share capital of InVision AG, through a structured process with institutional investors. With full placement of the 7% of the shares, Zohari would continue to hold 10% of the InVision shares.

In addition, InVision Holding GmbH has announced that pursuant to a shareholders’ resolution, the company share of Armand Zohari in the amount of 50% was withdrawn and thus, InVision Holding GmbH is now 100% owned by Peter Bollenbeck, who is also one of the founding shareholders of InVision AG. At the same time, it was announced that InVision Holding GmbH intends to place up to 206,913 InVision shares, which corresponds to approximately 9% of the share capital of InVision AG, through a structured process with institutional investors. As a result, Peter Bollenbeck's directly and indirectly held share in InVision AG will increase from currently 28% to around 30%.

With full placement, the share attributable to the pool of the three founding shareholders Peter Bollenbeck, Armand Zohari and Matthias Schroer amounts to a total of approximately 51%. The founding shareholders do not plan to sell any further InVision shares.

October 19, 2017

Intended Placement of Directly and Indirectly Held Shares by the Executive Board

Inside Information according to Article 17 MAR

Mr. Armand Zohari, who will resign from the Executive Board of InVision AG (ISIN: DE0005859698) on 30th June 2018, intends to reduce its directly and indirectly held interests in InVision AG to a maximum of 13 percent within the next 18 months. The Chairman of the Executive Board, Peter Bollenbeck, and Mr. Zohari have agreed that the 50 percent share of Mr. Zohari in InVision Holding GmbH will be withdrawn by the end of this year and Mr. Bollenbeck will remain as the sole shareholder of InVision Holding GmbH.

At the same time, Peter Bollenbeck intends to increase its directly and indirectly held interests in InVision AG to up to 30 percent over the next 18 months. All in all, the three founding shareholders of InVision AG, Peter Bollenbeck, Armand Zohari and Matthias Schroer, intend not to fall below a stake of 50 percent in the long term.

The current shareholdings in InVision AG are as follows: 
  • InVision Holding GmbH: 22 percent
  • Peter Bollenbeck, Chairman of the Executive Board, InVision AG: 17 percent
  • Armand Zohari, Board Member without portfolio, InVision AG: 17 percent
  • Matthias Schroer, Vice Chairman of the Supervisory Board, InVision AG: 11 percent 

October 19, 2017

InVision AG Releases Financial Interim Statement for the First Nine Months of 2017

Today, InVision AG (ISIN: DE0005859698) released its financial results for the first nine months of the 2017 fiscal year. During this period, the Company’s total revenues increased by 5 percent to EUR 9.697 million (9M 2016: EUR 9.256 million). Revenues from injixo increased by 18 percent to EUR 2.392 million (9M 2016: EUR 2.020 million), and revenues from The Call Center School rose by 25 percent to EUR 0.533 million (9M 2016: 0.425 million). Revenues from InVision WFM subscriptions were at EUR 6.016, which is almost at the same level compared to the previous year (9M 2016: EUR 5.965 million). The project business decreased by 11 percent to EUR 0.756 million (9M 2016: EUR 0.846 million).

Due to increased personnel expenses in Sales and Marketing, EBIT (Earnings Before Interest and Taxes) declined by 63 percent to EUR 0.947 million (9M 2016: EUR 2.555 million). Thus, the EBIT margin was at 10 percent (9M 2016: 28 percent). Accordingly, the consolidated group result decreased by 53 percent to EUR 0.747 million (9M 2016: EUR 1.596 million), whereas earnings per share went down by 54 percent to EUR 0.33 (9M 2016: EUR 0.71).

In the first nine months of 2017, the operating cash flow decreased by 83 percent to EUR 0.960 million (9M 2016: EUR 5.793 million). The main reason for this decline is, among other things, the payment of corporation taxes (Q1/2017) in the course of the upcoming closure of the Estonian subsidiary InVision Software OÜ and the reversal of provisions made for this purpose. In addition, the trade receivables significantly changed compared to the previous year, due to deviations in the timing of invoicing and the realisation of incoming payments.

As of 30th September 2017, liquid funds declined by 32 percent to EUR 2.734 million (31st December 2016: EUR 4.009 million). This cash outflow is mainly due to the dividend payment to the Company’s shareholders (Q2/2017) in the amount of EUR 1.118 million, the partial refund of a loan in the amount of EUR 0.750 million for the company-used office property in Düsseldorf, as well as to investments made in tangible assets for the new offices in Leipzig that are currently under reconstruction.

Equity capital totalled EUR 10.327 million, which was just 3 percent lower compared to the end of 2016 fiscal year (31st December 2016: EUR 10.697 million). With a balance sheet total of EUR 14.561 million (31st December 2016: EUR 15.823 million), the equity ratio equaled 71 percent (31st December 2016: 68 percent).

Due to the current restructuring of the Sales and Marketing department, which was initiated right after the announced resignation of Executive Board member Armand Zohari, the further expansion of the sales and marketing activities as well as the intended acceleration of the revenue growth of the cloud products injixo and The Call Center School will be delayed. But for the 2017 fiscal year, the Company’s Executive Board still expects a slight increase in total revenues and an overall positive result.

The Company’s Interim Statement for the first nine months of the 2017 financial year is now available on this website at www.invision.de/investors

October 04, 2017

Armand Zohari Retires From the Executive Board as of 30th June 2018

As announced at the end of July 2017, Armand Zohari will retire from the Executive Board of InVision AG (ISIN: DE0005859698). In this context, the operational responsibility for sales and marketing has now been taken over by Peter Bollenbeck, Chairman of the Executive Board. Currently, a comprehensive reorganisation of this division is in progress.

The Supervisory Board has concluded a cancellation agreement with Mr. Zohari, which determines the date of 30th June 2018 as the date for the termination of the employment contract. Until then, Mr. Zohari is available to the Company as a board member without portfolio. 

July 28, 2017

InVision AG: Pending Change in the Executive Board

Inside Information according to Article 17 MAR

Armand Zohari, Member of the Executive Board of InVision AG (ISIN: DE0005859698), has informed the Supervisory Board that, for private reasons, he intends to resign as a member of the Executive Board of InVision AG during the following year. The Supervisory Board will discuss this topic during the next regular meeting of the Supervisory Board that will take place in the current quarter.

July 13, 2017

InVision AG Closes First Half-Year of 2017 With a Double-Digit Cloud Growth

Today, InVision AG (ISIN: DE0005859698) released its financial results for the first six months of the 2017 fiscal year. In the first half-year of 2017, the Company’s total revenues increased by 5 percent to EUR 6.613 million (6M 2016: EUR 6.274 million). Revenues from injixo increased by 20 percent to EUR 1.588 million (6M 2016: EUR 1.323 million), and revenues from The Call Center School rose by 42 percent to EUR 0.407 million (6M 2016: 0.286 million). Revenues from InVision WFM subscriptions remained unchanged at EUR 4.028 (6M 2016: EUR 4.028 million). The project business decreased by 7 percent to EUR 0.590 million (6M 2016: EUR 0.637 million). 

In the first half-year of 2017, the Company achieved an EBIT (Earnings Before Interest and Taxes) of EUR 0.762 million. This corresponds to a decrease of 62 percent compared to the previous year (6M 2016: EUR 2.023 million). Thus, the EBIT margin was at 12 percent (6M 2016: 32 percent). While simultaneously increasing revenues, the decrease in operating profit reflects the impact of the announced expansion of sales and marketing activities. In the first six months of 2017, personnel costs increased by 36 percent, and marketing expenses rose by 49 percent compared to the previous year. The consolidated group result declined by 66 percent to EUR 0.638 million (6M 2016: EUR 1.854 million), whereas earnings per share decreased by 65 percent to EUR 0.29 (6M 2016: EUR 0.83). 

In the first six months of 2017, the operating cash flow decreased by 63 percent to EUR 1.655 million (6M 2016: EUR 4.419 million). This decline is due to, among other things, the payment of corporation taxes (Q1/2017) in the course of the upcoming closure of the Estonian subsidiary InVision Software OÜ, and the dividend payment in the amount of EUR 1.118 million to the shareholders of InVision AG.

As of 30th June 2017, liquid funds declined to EUR 3.912 million (31st December 2016: EUR 4.009 million). The balance sheet total decreased by 3 percent to EUR 15.329 million (31st December 2016: EUR 15.823 million). Equity capital went down by 4 percent to EUR 10.217 million (31st December 2016: EUR 10,697 million). The equity ratio equaled 67 percent (31st December 2016: 68 percent).

For the 2017 fiscal year, the Company’s Executive Board still expects a slight increase in total revenues and an overall positive result.

The Company’s Financial Report for the first six months of the 2017 financial year is now available on the Company’s website at www.invision.de/investors.

May 04, 2017

Increase in Revenue in the First Quarter of 2017 - Cloud Products Remain on Growth Track

Today, InVision AG (ISIN: DE0005859698) released its financial results for the first three months of the 2017 fiscal year. In the first quarter of 2017, the Company’s total revenues increased by 11 percent to EUR 3.460 million (3M 2016: EUR 3.120 million). Revenues from injixo increased by 22 percent to EUR 0.788 million (3M 2016: EUR 0.646 million), and revenues from The Call Center School rose by 53 percent to EUR 0.220 million (3M 2016: 0.144 million). Revenues from InVision WFM subscriptions were at EUR 1.996, which is almost at the same level compared to the previous year (3M 2016: EUR 2.017 million). Due to a large license extension of an existing client, the project business recorded a short-term rise of 46 percent to EUR 0.456 million (3M 2016: EUR 0.313 million).

In the first quarter of 2017, the Company achieved an EBIT (Earnings Before Interest and Taxes) of EUR 0.576 million. This corresponds to a decrease of 26 percent compared to the previous year (3M 2016: EUR 0.782 million). While simultaneously increasing revenues, the decrease in operating profit already reflects the initial impact of the announced expansion of sales and marketing activities. In the first quarter of 2017, personnel costs increased by 28 percent, and marketing expenses rose by 37 percent compared to the previous year. Thus, the EBIT margin was at 17 percent (3M 2016: 25 percent). The consolidated group result declined by 21 percent to EUR 0.524 million (3M 2016: EUR 0.663 million), whereas earnings per share decreased by 23 percent to EUR 0.23 (3M 2016: EUR 0.30).

In the first three months of 2017, the operating cash flow decreased by 66 percent to EUR 1.459 million (3M 2016: EUR 4.233 million). The main reasons for this decrease are, on the one hand, the one-off payment of corporation taxes to a dividend payment from InVision Software OÜ, Tallinn, Estonia, to InVision AG within last year. On the other hand, the trade receivables significantly changed in the first three months of 2017 compared to the previous year, due to deviations in the timing of invoicing and the realisation of incoming payments.

As of 31st March 2017, liquid funds rose by 28 percent to EUR 5.122 million (31st December 2016: EUR 4.009 million). The balance sheet total increased by 17 percent to EUR 18.463 million (3M 2016: EUR 15.823 million). Equity capital increased by 17 percent to EUR 11.221 million (3M 2016: EUR 10,697 million), and the equity ratio equaled 61 percent (3M 2016: 68 percent).

For the 2017 fiscal year, the Executive Board still expects a slight increase in total revenues and an overall positive result.

The Company’s Interim Statement for the first three months of the 2017 financial year is now available on this website at www.invision.de/investors