ISRA VISION AG : Solid 2017-18 figures, but flat sales in Q4 17-18 – lowering our estimates and TP
>2017-18 margins improved, but sales below expectations and only flat in Q4 - ISRA VISION released preliminary 2017-18 results on 14 December. Full-year sales were up 6.6% yoy to € 152.5m, missing our estimate (€ 158.7m) and consensus (€ 158.7). Q4 17-18 sales were only flat at € 49.7m (Q4 16-17: € 49.7m). Full-year EBITDA stood at € 49m, beating our estimate (€ 45.9m); thus, the EBITDA margin increased to 32.1% from 28.9% in 2016-17 and also beat our estimate of 30....Isra Vision is a holding company. Co., through its subsidiaries, is engaged in the surface inspection systems market, providing for image processing systems (Machine Vision), specializing in 3D Machine Vision segment, especially for 3D Robot Vision. Co. develops, produces and markets software for intelligent machine vision systems, compatible with standard hardware and software components. Co. maintains two business divisions: The Industrial Automation division, which includes the automotive and general industries; and the Surface Vision division, which comprises the glass, solar, display glass, plastics, print, paper and metal units.Of which accounted to
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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