Invisio Ab · OMXSTO:IVSO
Invisio Ab — Q1 2023 Earnings Presentation
20 slides from Invisio Ab's earnings presentation, May 5, 2023
Slide 1: Interim Report January – March 2023
Protection at work, a better life at home Interim Report January – March 2023 Best quarter in the company’s history - strong order intake, sales and results Investor Conference Call May 5, 2023 CEO Lars Højgård Hansen 1
Slide 2: Highlights Q1, 2023
Highlights Q1, 2023 Best quarter in the company's history - strong order intake, sales and profit • Strong start to 2023 - order intake and revenue exceeded SEK 300 million during the quarter. • EBIT-margin 27 per cent in Q1, 2023. • The development reflects high market activity - significantly incr
Slide 3: Strong order intake
Strong order intake SEK million SEK million • The order intake R12 exceeded SEK 1 billion 400 1400 for third quarter in a row. • The development reflects an increasingly 1200 active market with increased geopolitical 300 instability – especially Europe. 1000 • A greater proportion of medium-sized or
Slide 4: Record high order book
Record high order book SEK million • Fifth consecutive strong quarter. 700 • A strategic decision to increase inventory. 600 • The increase reflects on upcoming deliveries. • Speedy delivery is a competitive advantage. 500 • Standard products – almost zero scrapping. 400 300 200 100 SEK million Q1,
Slide 5: Revenue - 100+ per cent growth
Revenue - 100+ per cent growth SEK million SEK million • Sales growth 127 per cent compared to Q1, 400 1000 2022. 119 per cent in comparable currencies. • Annual sales pace (R12) SEK 949 million. 800 • Sales at a higher level than before. 300 • The sales trend shows a smoother develop- 600 ment than
Slide 6: Gross margin, 60+ per cent
Gross margin, 60+ per cent % • The product mix has had a positive impact 70 on the gross margin. • Price increases by the suppliers have not yet taken full effect, due to earlier 65 inventory build-up. 60 55 Per cent Q1, 2023 Q1, 2022 Delta, units R12 FY, 2022 Gross margin 62.5 59.7 2.8 58.9 58.0 50
Slide 7: Operating expenses – in line with the trend
Operating expenses – in line with the trend SEK million SEK million • Moderate increase in OPEX, compared to 120 450 the previous quarter. 400 • OPEX correlated to number of employees. 100 350 • Recruiting is driven by business 80 300 opportunities. 250 60 200 40 150 100 20 SEK million Q1, 2023 Q1,
Slide 8: Substantially improved margins
Substantially improved margins % • Higher sales have a direct impact on 40,0 margins, as OPEX is a “slow moving mass”. • The increase demonstrates the scalability 30,0 in the business model. 20,0 10,0 0,0 Per cent Q1, 2023 Q1, 2022 Delta, units R12 FY, 2022 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Slide 9: Strong interest in Intercom system
Strong interest in Intercom system • Another major follow-up order received. • Total value of SEK 40 million. • European NATO-member. • Most systems to be delivered in 1H 2023. • The combined value of all the orders is more than SEK 100 million. • Good potential for further orders. 9 Q1 2023
Slide 10: Breakthrough order for Racal Acoustics headset in the US
Breakthrough order for Racal Acoustics headset in the US • A first major order for the new RA4000 MagnaTM headset, in the North American market. • The order value is SEK 42 million. • Deliveries are planned monthly through September 2023. • The first introduction in over 25 years in the US market of
Slide 11: Another army contract
Another army contract • New framework agreement with army in a European non-NATO country. • First order worth about SEK 40 million for the new INVISIO V-Series Gen II system with INVISIO X5 in-ear headsets. • Deliveries are expected to take place in 2023. • Part of the Special Forces already a custo
Slide 12: Market development
Market development Largest increase in Great need for Larger budgets Long term: military spending modern will allow faster higher budgets in Europe in 30 communication roll out will mean an years* equipment increased demand 12 Q1 2023 *Sipri April 2023
Slide 13: A strong momentum
A strong momentum An active market A doubling of A journey from A broader and Now targeting due to increased resources within hardware to AI wider product two customer geopolitical R&D and sales based software portfolio groups insecurity 13 Q1 2023
Slide 14: Positive expectations for 2023
Positive expectations for 2023 The extensive forward-looking investments carried out in recent years, combined with a substantial order book and a generally strong market, mean that we predict continued strong sales, order intake and profitability in 2023. 14 Q1 2023
Slide 15: Qi 2023 INVISIO
Qi 2023 INVISIO
Slide 16: Appendix
Appendix INVISIO
Slide 17: COMPANY CONFIDENTIAL
Q1 2023 17 COMPANY CONFIDENTIAL
Slide 18: COMPANY CONFIDENTIAL
Q1 2023 18 COMPANY CONFIDENTIAL
Slide 19: COMPANY CONFIDENTIAL
Q1 2023 19 COMPANY CONFIDENTIAL
Slide 20: COMPANY CONFIDENTIAL
Q1 2023 20 COMPANY CONFIDENTIAL