DGAP-News: InVision AG: Warburg Research Upgrades

DGAP-News: InVision AG / Key word(s): Research Update/Preliminary Results InVision AG: Warburg Research Upgrades Target Price to EUR 29.00 18.10.2013 / 09:47 --------------------------------------------------------------------- InVision AG: Warburg Research Upgrades Target Price to EUR 29.00 Ratingen (Germany), 18th October 2013 - Felix Ellmann, analyst of Warburg Research, upgrades the target share price of InVision AG (ISIN: DE0005859698) from EUR 25.00 to EUR 29.00. The 'Buy' rating remains unchanged. On 14th October 2013, InVision AG published its preliminary nine-month results for 2013 and thereby met the analyst's expectations. Ellmann explains in his research report, published on 16th October 2013, that he raises his forecasts for InVision AG based on the respectable figures and momentum in the SaaS field. Additionally, the risk discounts would be reduced as the company repeatedly achieves its targets and as visibility improved in the cloud business. The overall revenue from software and subscriptions rose slightly from EUR 7.9 million to EUR 8.1 million. While the classic licence business (on-premise) declined, the cloud/SaaS business improved. The annual increase would be more than 50% on a nine-month basis and compensated for the development in the on-premise licence business. The service revenue remained relatively constant at EUR 1.9 million. Additionally, the belated effects of cost cutting continued to have a positive effect. For 2013, Ellmann anticipates a doubling of the result. With a lower cost base and greater momentum in cloud/SaaS revenues, the analyst expects a further increase in strong earnings for 2014. The revenues from the cloud business are distinguished largely by the fact that they generated barely any direct costs. Ellmann reports that the balance sheet also reflects good operative development. Despite the buyback of own shares to the value of EUR 0.6 million, liquid funds doubled since the end of 2012, from EUR 2.5 million to EUR 4.9 million. The analyst expects another share buyback. The complete Warburg Research report, 'InVision meets expectations', is now available for download from InVision's website at: http://www.invision.de/analyst_media_reports. About InVision: Since 1995, InVision has been helping its clients to optimise their workforce management, increase their productivity and quality of work and reduce their costs. The InVision group incorporates the brands injixo, a cloud platform with training, workforce management and industry network, The Call Center School, offering training, consulting and publications for call centre professionals, Core Practice, offering strategic workforce management consulting, and InVision WFM, a software solution for workforce management. InVision AG (IVX) is listed in the Prime Standard Segment of the Frankfurt Stock Exchange. Further information: www.invision.de Contact: InVision AG Investor Relations, Jutta Handlanger Halskestrasse 38, 40880 Ratingen (Germany), phone: +49 (0)2102 728-444, email: ir@invision.de End of Corporate News --------------------------------------------------------------------- 18.10.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: InVision AG Halskestra�e 38 40880 Ratingen Germany Phone: +49 (0)2102 / 728-0 Fax: +49 (0)2102 / 728-111 E-mail: info@invision.de Internet: www.invision.de ISIN: DE0005859698 WKN: 585969 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 235205 18.10.2013