DGAP-Adhoc: Vtion maintained profitability despite lower

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News Desk 2018

Jul 28, 2014 at 8:30 AM

DGAP-Adhoc: Vtion maintained profitability despite lower revenues

Vtion Wireless Technology AG / Key word(s): Preliminary Results 28.07.2014 14:23 Dissemination of an Ad hoc announcement according to Â§ 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Frankfurt, July 28, 2014. According to preliminary calculations Vtion Wireless Technology AG (Vtion), one of the leading suppliers of wireless data solutions for mobile computing in China, achieved an operating result (EBIT) of 1.8 million Euros and an EBIT margin of 7.9 per cent in the first half-year of 2014, therefore almost fulfilling its own guidance of 8 per cent. In the same period of the previous year EBIT was 2.1 million Euros and the EBIT margin was 7.5 per cent. However, revenues with 22.9 million Euros remained behind the prior-year result of 27.8 million Euros. Among the main reasons for this is the decrease of sales from 3G wireless data cards and web cameras. Furthermore, the company has decided to exit the business with the VCAM mobile cameras in the second half of the year. Also, in terms of 4G technology products and based on the developments in the Chinese 4G market, Vtion decided to market a 4G router instead of the 4G wireless data card. Altogether, these reasons lead to an adjustment of the guidance for the full financial year 2014: The company now expects revenues of 48.0 million Euros and an EBIT margin of 7.0 per cent. Vtion's profit before income tax (EBT) declined by 3.9 per cent from 2.7 million Euros to 2.6 million Euros. Cash fell slightly by 7.7 per cent from 126.6 million Euros as at 31 December 2013 to 116.8 million Euros at the end of the first half of 2014. Vtion's equity position declined from 136.3 million Euros to 132.2 million Euros. The equity ratio increased from of 89.6 per cent to 93.6 per cent in the first half of 2014. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: For further information, please contact: Kirchhoff Consult AG Dr Kay Baden, tel.: +49 40 60 91 86 39, baden@kirchhoff.de or visit the company website at: www.vtion.de Disclaimer concerning prognoses Certain statements in this communication contain formulations or terms referring to the future or future developments, as well as negations of such formulations or terms, or similar terminology. These are described as forward-looking statements. In addition, all information in this communication regarding planned or future results of business segments, financial classification numbers, developments of the financial situation, or other financial or statistical data contains such forward-looking statements. The company cautions prospective investors not to rely on such forward-looking statements as certain prognoses of actual future events and developments. The company is neither responsible nor liable for these forward-looking statements. It is not responsible for updating such information, which only represents the state of affairs on the day of publication. 28.07.2014 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: Vtion Wireless Technology AG Westhafenplatz 1 (Westfalen Tower) 60327 Frankfurt Germany Phone: +49 69 710 456 245 Fax: +49 69 710 456 248 E-mail: ir@vtion.de,Janina.schumann@kirchhoff.de Internet: www.vtion.de ISIN: DE000CHEN993 WKN: CHEN99 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÃ¼sseldorf, Hamburg, MÃ¼nchen, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------

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