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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