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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has announced that pursuant to a shareholders’ resolution, the company share of Armand Zohari in the amount of 50% was withdrawn and thus, InVision Holding GmbH is now 100% owned by Peter Bollenbeck, who is also one of the founding shareholders of InVision AG.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 Zohari in InVision Holding GmbH will be withdrawn by the end of this year and Mr.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

March 22, 2017

2016 Consolidated Financial Statements - Dividend Proposal of EUR 0.50 Per Share

Today, InVision AG (ISIN: DE0005859698) released its 2016 Annual Report and confirmed the preliminary results for the preceding financial year, which were previously published on 7th February 2017. In 2016, the Group achieved an EBIT increase (Earnings Before Interest and Taxes) of 33 percent to EUR 3.547 million (2015: EUR 2.676 million) and an EBIT margin of 29 percent (2015: 21 percent). Total revenues were at EUR 12.426 million (2015: EUR 12.708 million).

Similar to previous fiscal years, InVision’s cloud products recorded an above-average growth. In 2016, injixo revenues increased by 35 percent to EUR 2.748 million (2015: EUR 2.035 million), and revenues from The Call Center School rose by 37 percent to EUR 0.599 million (2015: 0.436 million). Revenues from InVision WFM subscriptions were at EUR 7.961, which is almost on the same level compared to the previous year (2015: EUR 8.012 million). The project business, however, was further reduced by 50 percent to EUR 1.118 million (2015: EUR 2.225 million), as scheduled.

The operating cash flow increased by 103 percent to EUR 4.472 million (2015: EUR 2.334 million). As of 31st December 2016, liquid funds rose by 185 percent to EUR 4.009 million (31st December 2015: EUR 1.405 million). Equity capital increased by 28 percent to EUR 10.697 million (2015: EUR 8.376 million), and the equity ratio equals 68 percent (31 December 2015: 59 percent). The consolidated group result improved by 8 percent to EUR 2.321 million (2015: EUR 2.156 million). Thus, earnings per share also increased by 8 percent to EUR 1.04 (2015: EUR 0.96).

The Management Board and Supervisory Board proposes to pay a dividend of EUR 0.50 per share from the distributable profit of InVision AG and to carry forward the remaining amount to new account.

For the coming months, corporate planning outlines an aggressive expansion of sales and marketing activities. Subsequently, the revenue growth of the cloud products injixo and The Call Center School will be significantly accelerated. For 2017 fiscal year, InVision expects a slight increase in total revenues and an overall positive result.

The complete 2016 Annual Report is now available on the Company’s website at www.invision.de/investors.

February 07, 2017

Preliminary Results for 2016 Financial Year With Above-Average Cloud Growth

According to preliminary figures, InVision AG (ISIN: DE0005859698) generated total revenues of EUR 12.4 million in the fiscal year 2016. This corresponds to a slight decrease of 2 percent compared to the previous year (2015: EUR 12.7 million). Whereas the project business was further reduced by 50 percent to EUR 1.1 million (2015: EUR 2.2 million), as scheduled, the cloud products recorded an above-average dynamic growth, similar to previous fiscal years. In 2016, injixo revenues increased by 35 percent to EUR 2.7 million (2015: EUR 2 million), and revenues from The Call Center School rose by 37 percent to EUR 0.6 million (2015: 0.4 million). Revenues from InVision WFM subscriptions remained at EUR 8 million, almost on the same level compared to the previous year (2015: EUR 8 million).

EBIT (Earnings Before Interest and Taxes) increased by 33 percent to EUR 3.5 million (2015: EUR 2.7 million). Thus, EBIT margin was at 29 percent for the fiscal year 2016 (2015: 21 percent).

Liquid funds rose by 285 percent to EUR 4 million (31st December 2015: EUR 1.4 million). Equity capital increased by 28 percent to EUR 10.7 million (2015: EUR 8.4 million), and the equity ratio equals 68 percent (31 December 2015: 59 percent).

In the course of the past five years, the highly predictable subscription revenues increased from EUR 6.7 million to EUR 11.3 million. During the same period, costs decreased from EUR 12.7 million to EUR 9.3 million. Thus in the fiscal year 2016, subscription revenues are notably higher than overall costs for the first time.

In the coming months, InVision plans to aggressively invest the ongoing surplus in expanding its sales and marketing resources, in order to subsequently accelerate substantial growth. In this context, it is planned to hire up to 180 new employees, especially in the USA, Germany and the UK, until the end of the fiscal year 2018.

The complete 2016 Annual Report will be available from 22th March 2017 on the Company’s website at www.invision.de/investors.  

November 10, 2016

2016 Third Quarter Results: EBIT Increased by 51% – Full-Year Guidance Confirmed

Today, InVision AG (ISIN: DE0005859698) released its financial results for the first nine months of 2016. During this period, the Company increased its EBIT (Earnings Before Interest and Taxes) by 51 percent to EUR 2.555 million (9M 2015: EUR 1.692 million). The EBIT margin increased to 28 percent (9M 2015: 18 percent). The consolidated group result decreased slightly by 1 percent to EUR 1.627 million (9M 2015: EUR 1.648 million). It was affected significantly by a provision for income taxes in the amount of EUR 0.7 million for an intended closure of the Estonian subsidiary InVision Software OÜ, Tallinn. Consequently, earnings per share decreased by 4 percent to EUR 0.71 (9M 2015: EUR 0.74).

In the first nine months of 2016, the Company’s total revenues increased by 1 percent to EUR 9.256 million (9M 2015: EUR 9.176 million). Recurring revenues from subscriptions increased by 10 percent to EUR 8.410 million (9M 2015: EUR 7.677 million), whereas project revenues continued to decline, as planned, experiencing a decrease of 44 percent to EUR 0.846 million (9M 2015: EUR 1.499 million).

Operating cash flow increased by 182 percent to EUR 5.793 million (9M 2015: EUR 2.051 million). As of 30th September 2016, liquid funds were at EUR 5.499 million, an increase of 291 percent (31st December 2015: EUR 1.405 million). Equity totalled EUR 9.972 million (31st December 2015: EUR 8.376 million) and the equity ratio is now at 60 percent (31st December 2015: 59 percent).

For the full financial year of 2016, the Executive Board of InVision AG still expects total revenues of at least EUR 12 million and an EBIT of EUR 3.5 - 4.0 million. To accelerate the company’s growth, the Executive Board has embarked on a significant increase in Sales and Marketing effort for its Workforce Management and E-Learning product ranges in North America, the UK and Germany. This includes the recruitment of up to 42 new employees initially.

The Company’s Interim Statement for the first nine months of the 2016 financial year is now available on this website at www.invision.de/financial_reports.