Viscom (V6C) Q2 2024 earnings summary

Executive summary

• Revenue for H1 2024 declined 16.5% year-over-year to €41.3 million, with EBIT dropping to €-4.8 million from €0.2 million due to weak demand, especially in automotive and industrial electronics sectors.

• Incoming orders fell 41.7% to €36.9 million, and order backlog decreased to €24.6 million, reflecting continued customer reluctance to invest.

• Net profit for the period was €-4.1 million, compared to €-0.4 million in H1 2023; EPS was €-0.47 versus €-0.03.

• Cost-cutting measures, including short-time work and reduced non-labour costs, were implemented to preserve liquidity.

• Dividend for 2023 was reduced to €0.05 per share.

Financial highlights

• Revenue: €41.3 million (H1 2023: €49.4 million); EBIT: €-4.8 million (H1 2023: €0.2 million); Net profit: €-4.1 million (H1 2023: €-0.4 million).

• Cash flow from operating activities improved to €15.1 million (H1 2023: €5.0 million), mainly due to reduced inventories and receivables.

• Equity ratio increased to 52.3% (H1 2023: 48.3%).

• Cash and cash equivalents at €-15.4 million, an improvement from €-19.9 million in H1 2023.

• Investments totaled €3.1 million, mainly in development costs.

Outlook and guidance

• 2024 revenue expected between €80–95 million, with EBIT margin before non-recurring effects forecast at -3% to -9% (€-2.9 to €-7.2 million).

• No reliable signs of market recovery in H2 2024; further cost-cutting and staff reductions planned.

• Forecasting uncertainty remains high due to ongoing investment reluctance and economic distortions.