Invisio Ab · OMXSTO:IVSO
Invisio Ab — FY2020 Earnings Presentation
20 slides from Invisio Ab's earnings presentation, Feb 15, 2021
Slide 1: INVISIO Investor Conference Call, Year-end Bulletin 2020
INVISIO Investor Conference Call February 15, 2021 | Year-end Bulletin 2020 CEO Lars Højgård Hansen
Slide 2: Agenda
Agenda • CEO Lars Højgård Hansen comments on the Year-end Bulletin, 2020. • Q&A. • Financial performance in further detail. 2
Slide 3: Acquisition strengthens INVISIO's growth potential
Acquisition strengthens INVISIO’s growth potential 3
Slide 4: The financial result Q4 and full year 2020
The financial result Q4 and full year 2020 2020 2019 2020 2019 SEK in millions Q4 Q4 ∆% Full year Full year ∆% Revenue 172.8 200.5 -14 532.0 513.8 4 Gros s profi t 102.2 123.1 -17 309.0 313.3 -1 Gros s ma rgi n, % 59.1 61.4 58.1 61.0 EBITDA 45.5 76.0 -40 108.1 142.6 -24 Opera ti ng profi t/l os s 40
Slide 5: Long term development in sales and EBIT
Long term development in sales and EBIT Average 22 % 5
Slide 6: INVISIO + Racal Acoustics = two complementary product portfolios
INVISIO + Racal Acoustics = two complementary product portfolios Communication and Communication and Portable internal hearing protection for hearing protection for communication for mounted users in dismounted users mounted users constant high-noise The INVISIO The Racal Acoustics High The INVISIO
Slide 7: Broad product portfolio
Broad product portfolio • Racal Acoustics has a broad portfolio of highly advanced and rugged hearing protection and communications headsets for environments with constant high noise, complementary to the INVISIO product portfolio. • The latest developed product is the RA4000 Magna™ - a digital head
Slide 8: The Racal Acoustics market
The Racal Acoustics market • Racal Acoustics is the leader in a market with few competitors. • Users are mainly crews in large military vehicles, above all in Europe and the USA. • 1.2 million positions/seats in relevant vehicles and markets. • The value of the global addressable market is about SEK
Slide 9: Two brands – one company
Two brands – one company One company with two brands both recognized INVISIO globally for their heritage and expertise: GROUP • The INVISIO brand – Soldier Systems and Portable Intercom systems. • The Racal Acoustics brand – High Noise headsets. • Racal Acoustics is the center of excellence for high
Slide 10: Positive response to the marketing of the Intercom system
Positive response to the marketing of the Intercom system COMPANY CONFIDENTIAL • Marketing of the Intercom system continues essentially according to plan, despite COVID-19 and travel restrictions. • Have received approx. ten small orders from specialist units in the USA and Europe, in Q3-Q4. • A gro
Slide 11: Continued focus on law enforcement and security
Continued focus on law enforcement and security COMPANY CONFIDENTIAL • The strengthening of the sales organization in the USA and Europe targeting law enforcement and security has continued in 2020. • The global network of distribution partners is extended. • INVISIO continuous with long-term invest
Slide 12: Another American elite force chose INVISIO
COMPANY CONFIDENTIAL Another American elite force chose INVISIO and places a first order. 12
Slide 13: Sound growth in new markets
Sound growth in new markets COMPANY CONFIDENTIAL • During 2020 INVISIO has continued to address new geographical markets. • INVISIO has received a number of new, initial orders that could lead to larger orders later. • The same pattern as in the established markets. • Continued focus on new markets
Slide 14: Proposed dividend
Proposed dividend We believe in our capacity of continued growth with sound profitability. The Board of Directors proposes a dividend of SEK 0.70 per share (0.85). 14
Slide 15: INVISIO is developing into a larger company
“INVISIO is developing into a larger company with a wider geographical spread and considerably broader product portfolio. In 2021 there will be great focus on integrating Racal Acoustics, but we will also continue the long-term investments, both in our new Intercom system and in addressing the law e
Slide 16: Questions and answers
Questions and answers INVISIO*
Slide 17: Appendix
Appendix INVISIO“
Slide 18: Condensed consolidated income statement and comprehensive income
Condensed consolidated income statement and consolidated statement of comprehensive income 2020 2019 2020 2019 SEK in millions Note Q4 Q4 Full year Full year Revenue 2 172.8 200.5 532.0 513.8 Cos t of goods s ol d -70.6 -77.4 -222.9 -200.5 Gross profit 102.2 123.1 309.0 313.3 Opera ti ng expens es *
Slide 19: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position SEK in millions Assets Note 31/12/2020 31/12/2019 Ca pi ta l i zed devel opment cos ts 94.8 85.6 Equi pment 4.1 3.1 Ri ght-of-us e a s s ets , l ea s es 4 24.0 25.3 Depos i ts for rent, l ong-term 2.3 2.3 Deferred ta x a s s ets 3 2.8 1.8 Invent
Slide 20: Condensed consolidated statement of cash flow
Condensed consolidated statement of cash flow 2020 2019 2020 2019 SEK in millions Q4 Q4 Full year Full year Opera ti ng a cti vi ti es Profi t/l os s before ta x 38.9 72.1 84.9 134.1 Adjus tments for non-ca s h i tems 10.8 5.4 24.0 8.7 Income ta x pa i d -7.0 -0.9 -12.3 -2.8 Cash flow from operating