Viscom (V6C) Q3 2024 earnings summary

Executive summary

• Revenue for the first nine months of 2024 declined 21% year-over-year to €63.2 million, reflecting weak demand, especially in automotive and industrial electronics sectors.

• EBIT dropped to €-5.9 million from €2.6 million, impacted by low operating performance, inventory write-downs, and one-off staff reduction costs; excluding these, EBIT was €-5.2 million.

• Net profit for the period was €-5.0 million, compared to €0.8 million in the prior year.

• Order intake fell 36% to €58.1 million, and order backlog decreased to €23.8 million.

• Cost-cutting and efficiency measures, including short-time work and voluntary staff reductions, were implemented to address the challenging environment.

Financial highlights

• Revenue for 9M 2024: €63.2 million (9M 2023: €80.2 million); Q3 revenue: €21.9 million.

• EBIT: €-5.9 million (9M 2023: €2.6 million); EBIT margin: -9.4% (9M 2023: 3.3%).

• Net profit: €-5.0 million (9M 2023: €0.8 million); EPS: €-0.57 (9M 2023: €0.11).

• Cash flow from operating activities: €17.4 million (9M 2023: €-0.4 million), mainly due to inventory and receivables reduction.

• Equity ratio improved to 54.0% (31 Dec 2023: 47.8%).

Outlook and guidance

• 2024 full-year revenue and order intake expected between €80–95 million, confirming previous guidance.

• EBIT margin before special items forecasted at -3% to -9% (€-2.9 to €-7.2 million EBIT).

• No significant improvement in customer investment expected before H1 2025; further write-downs on inventories may negatively impact earnings.

• Ongoing cost reduction and efficiency programs to continue, with further staff reductions possible.