Puchheim, August 11, 2021


STEMMER IMAGING benefits from increasing market dynamics and publishes record order intake and significant revenue growth

- Record order intake of EUR 82.8 million, up 55.6% year-on-year (previous year: EUR 53.2 million)

- Significant increase in revenue of 23.9% to EUR 64.7 million (previous year: EUR 52.2 million)

- Strong operating result (EBITDA) of EUR 7.9 million (previous year: EUR 2.3 million) with EBITDA margin of 12.2%.

- Full-year guidance significantly increased on July 21, 2021 - positive trend expected to continue for the second half of the year

Puchheim, August 11, 2021 - STEMMER IMAGING AG (ISIN DE000A2G9MZ9 / GSIN A2G9MZ) publishes its figures for the first half of 2021 today.

STEMMER IMAGING AG continued its positive business development of the previous quarters and confirms the recently published preliminary figures for the first half-year 2021. STEMMER IMAGING's target markets recovered faster than expected and - buoyed by increasing digitalization and automation - have shown strong momentum in machine vision applications. Order intake reached a record EUR 82.8 million in the first six months, up 55.6% year-on-year and with 46.5% also well above the half-year figures from 2019 (H1 2019: EUR 56.5 million). Compared to the previous quarter (EUR 35.6 million), order intake in the second quarter increased by 32.6% to EUR 47.2 million. This results in a positive book-to-bill ratio of 1.3 for the first half-year and 1.4 for the second quarter. Revenue in the first half of the year increased by 23.9% year-on-year to EUR 64.7 million (H1 2020: EUR 52.2 million) and by 11.2% compared to the first half of 2019 (H1 2019: EUR 58.2 million). In comparison to the previous quarter (EUR 31.7 million), revenues increased by 4.0%.

The current market figures of the VDMA industry association report market growth in machine vision of 1% in Germany and 2% in Europe for the first six months of 2021. According to VDMA, order intake rose by 19% in Germany in the same period, but fell by 3% in Europe. STEMMER IMAGING significantly outperformed the industry figures reported by the VDMA in terms of both revenue and order intake. Thanks to its broad regional and application-based positioning, the company was able to benefit more than the average recovery trend seen in the market. As in the first quarter, the industrial sector again recorded a significant increase in revenue. At the same time, STEMMER IMAGING was able to expand its business in the area of non-industrial applications at an above-average rate and further advanced its strategic positioning in high-volume business with end customers. In the industrial segment, STEMMER IMAGING succeeded in occupying and expanding strategic growth themes such as e-mobility.

Strong EBITDA growth
The operating result (EBITDA) reached EUR 7.9 million in the first half of the fiscal year, up 244.5% year-on-year. The EBITDA margin increased to 12.2%, thus exceeding the mid-term target margin of > 10%. The improvement in earnings was driven both by above-average revenue and gross margin improvement and by market-related lower cost levels and good cost management. EBITDA was also positively impacted by the development of high-margin regions and the significant increase in revenue from value-added services. The range of value-added services is being systematically expanded. The increase in gross margin to 38.7% (H1 2020: 36.5%; H1 2019: 37.2%) illustrates, among other things, that customers are rewarding this service. The cost increases resulting from the tight supply situation were successfully cushioned in the first half of the year. For the second half of the year, the company is relying on corresponding price increases to counter the pressure on margins.

The operating cash flow amounted to EUR 2.6 million in the first half of 2021 and was below the figure of the same period of the previous year (H1 2020: EUR 4.0 million) due to the strong increase in revenue, the associated increased receivables and the increase in inventories as a result of active inventory management.

Global supply bottlenecks for electronic components and intermediates have hindered an even stronger upturn and continue to pose a challenge for the second half of the year. Thanks to STEMMER IMAGING's broad portfolio, temporary supply bottlenecks could be countered with a high degree of flexibility. Measures in procurement and warehousing as well as order processing were also able to cushion bottlenecks.

STEMMER IMAGING raises forecast for 2021
The positive development in the first half of the year lays a good foundation for the further course of business in 2021. The company expects this trend to continue positively in the second half of the year. The Executive Board of STEMMER IMAGING AG significantly raised its full-year forecast on July 21, 2021, when it presented its preliminary figures, and now expects revenue of between EUR 123 million and EUR 131 million and EBITDA of between EUR 12.2 million and EUR 15.4 million for fiscal year 2021.

Arne Dehn, CEO of STEMMER IMAGING AG:
"We are pleased to report now six consecutive quarters of improved profitability figures and for the first time an unadjusted half-year result > 10%. The increasing market dynamics, our successful positioning in the strategic growth markets in industrial and non-industrial areas, as well as the successes both achieved and underway in end customer projects, led us to again adjust the forecast for the full year 2021 upwards. We maintain focus on the implementation of our strategic roadmap and see an excellent basis for positive further development for the coming quarters."

STEMMER IMAGING AG's half-year report as of June 30, 2021 is available at www.stemmer-imaging.com in the Investors section.

A webcast on the financial results for the second quarter and first half of 2021 will be held today, August 11, 2021, at 14:00 CEST for analysts, insitutional investors and for representatives of the press. To participate in the conference call, participants are asked to register via the link below. https://services.choruscall.de/DiamondPassRegistration/register?confirmationNumber=8637961&linkSecurityString=e83c36bb9

About STEMMER IMAGING:
STEMMER IMAGING is a leading international machine vision technology provider. With staff located across Europe, Latin America and Asia, the company provides state-of-the-art machine vision solutions, extensive knowledge and outstanding customer service.

Clients value STEMMER IMAGING as a trusted advisor, positioned to deliver tailored solutions. These include components that can be pre-configured where needed, sub-systems designed to reduce time and effort when integrating vertical applications, and customer-specific solutions delivering a competitive advantage to predominantly OEMs - all powered by renowned knowledge and leading software tools including the company's machine vision library "Common Vision Blox".

VISION.RIGHT.NOW. symbolises the STEMMER IMAGING mission to make machine vision easy and accessible, empowering customers to deliver world-class solutions.

Contact:

STEMMER IMAGING AG
Arne Dehn
Chief Executive Officer
Gutenbergstr. 9-13
82178 Puchheim
Phone: +49 89 80902-196
ir@stemmer-imaging.com
www.stemmer-imaging.com