Viscom with positive business performance in 1H/2021

The mechanical engineering firm from Lower Saxony received incoming orders of EUR 24,736 thousand in the second quarter of 2021 alone (previous year: EUR 9,376 thousand), representing a 2.6-fold increase on the previous year and the strongest Q2 incoming order situation ever recorded in the history of the Viscom Group. The company received orders totalling EUR 45,477 thousand (previous year: EUR 25,304 thousand) in the first six months of 2021, an enormous year-on-year upturn of about 80%. Good incoming orders resulted in a higher order backlog of EUR 30,346 thousand (previous year: EUR 11,775 thousand), creating very good production capacities for the months ahead for Viscom AG. Revenue amounted to EUR 34,069 thousand, 15.6% higher than the previous year's figure (EUR 29,468 thousand). The implemented cost reduction programs and savings measures were vigorously followed and enforced again in the first half of 2021. With revenue up on the previous year, this considerably improved operating profit (EBIT) year on year. Operating profit totalled EUR 507 thousand (previous year: EUR -3,873 thousand), corresponding to an EBIT-Margin of 1.5% (previous year: -13.1%). Net profit for the period amounted to EUR 387 thousand (previous year: EUR -3,957 thousand). 360 people were employed at the Hanover site at the end of the first half of the year, 55 of whom were working reduced hours to varying degrees in June. The option to reduce working hours expired at the end of the first half of 2021 and was not extended. Viscom believes it is well positioned to return to sustainable and profitable growth. The management continues to anticipate target revenue and incoming orders of between EUR 70 million and EUR 80 million in the 2021 financial year. The EBIT-Margin is likely to be between 3% and 9%, with EBIT of between EUR 2.1 million and EUR 7.2 million. The development of incoming orders and revenue in 2021 will largely depend on the overall economic situation and the ongoing development of the COVID-19 pandemic, as well as increasing supply bottlenecks, chiefly in the automotive industry.