Viscom ups annual forecast for 2011

The increase in net assets and financial figures for the first six months of the current financial year are sending more than encouraging signs. Viscom recorded approximately 44% more orders than last year. Also, the company generated revenues of EUR 26,853 thousand in the first half of the year (previous year: EUR 12,844 thousand). Compared to the first half of the previous year, this is an increase of 109 percent. This confirms the company's expectation of an upturn in business this year. Viscom Group's net profit at the end of the first half of the year is the highest it has been since the IPO. "The business figures in all market segments are very pleasing. Viscom Group achieved revenue of approximately EUR 20,388 thousand in the European region alone, which remains its strongest region. European sales alone have risen by 157% against 30 June 2010," explains Dirk Schwingel, member of Viscom AG's Executive Board. Positive figures in the United States also strengthen the company's position in international competition, with the Asian market being just as encouraging. This growth is mainly a result of the willingness to invest from the automotive and automobile supplier sector, Viscom's highest revenue-generating customer segment. "Also, contract manufacturers and producers from other industries such as communications technology, invest in high-end Viscom products," comments Volker Pape, member of the Executive Board and co-founder of Viscom AG. Viscom's business is shaped by significant seasonal differences: The second half of the year is normally stronger than the January to June period. "The current order situation will continue to ensure high utilisation at all production levels. These prospects indicate further success in the second half of the year," reports Dr. Martin Heuser, member of the Executive Board and co-founder of Viscom AG. Revenues of between EUR 50 and 53 million are expected for 2011 following an official adjustment to guidance. These new forecasts differ from those made by management as official guidance targets (EUR 45 to47 million) in revenue, as a result of the large volume of incoming orders and the high recognition of revenue in the first half of the year. Viscom expects that the current turbulence in the financial markets will not materially impact customer investment activity, particularly in Asia. Nevertheless, the group is watching developments very closely in order to react if needed.