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.
InVision AG published this content on 04 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 May 2017 06:04:18 UTC.
Original documenthttps://www.invision.de/news/increase-in-revenue-in-the-first-quarter-of-2017-cloud-products-remain-on-growth-track
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