Invisio Ab · OMXSTO:IVSO
Invisio Ab — Q4 2022 Earnings Presentation
18 slides from Invisio Ab's earnings presentation, Feb 14, 2023
Slide 1: Back on the growth track – record high sales
Protection at work, a better life at home Protection at work, a Year-end betterbulletin life at home COMPANY CONFIDENTIAL 2022 Back on the growth track – record high sales 1 Investor Conference Call February 14, 2023 CEO Lars Højgård Hansen
Slide 2: Highlights Q4, 2022
Highlights Q4, 2022 • Increased growth from positive market development and a more active sales effort. • Record high sales. • Full year order intake exceeds one billion SEK, for the first time. • Strongest order book ever. • The component-situation is gradually improving. • It is now time to start
Slide 3: Financial result Q4 and Full year 2022
Financial result Q4 and Full year 2022 2022 2021 2022 2021 SEK in millions Q4 Q4 ∆% Full year Full year ∆% Revenue 289,2 152,2 90 775,5 593,0 31 Gross profit 166,0 85,8 93 449,7 340,4 32 Gross margin, % 57,4 56,4 58,0 57,4 EBITDA 72,5 12,6 476 113,0 69,9 62 EBITDA margin, % 25,1 8,3 14,6 11,8 Operat
Slide 4: Order intake stronger and a well-filled order book
Order intake 85 per cent stronger and a well-filled order book Order intake per quarter and R12 months Order book per quarter and R12 months (SEK million) (SEK million) 500 1 200 400 1 000 800 300 600 200 400 100 200 0 0 Q4 2018 Q2 2019 Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021 Q2 2022 Q4 2022 COMPANY
Slide 5: Sales and gross profit up in the quarter
Sales and gross profit up 90 per cent in the quarter. Still affected by purchases on the spot market Sales per quarter and R12 months (SEK million) Gross profit per quarter (SEK million) and Gross margin R12 months (per cent) 350 1 000 180 65% 300 800 150 250 62% 120 200 600 90 59% 150 400 100 60 20
Slide 6: EBIT margin exceeds target in Q4
EBIT margin exceeds target in Q4 Operating expenses per quarter EBITDA per quarter (SEK million) EBIT per quarter (SEK million) (SEK million) and R12 months and EBITDA margin R12 months and EBIT margin R12 months (per cent) (per cent) 120 400 100 300 80 60 200 40 100 20 0 0 Q4 2018 Q2 2019 Q4 2019 Q
Slide 7: INVISIO receives order from existing customer
INVISIO receives order for SEK 40 million from existing customer Our most advanced personal system for communication and hearing protection - the new V-Series Gen II-system and the recently launched T7 headset. Most of the deliveries will be made in the first half of 2023. COMPANY CONFIDENTIAL Has p
Slide 8: Another volume order for the new Intercom system
Another volume order for the new Intercom system - after the end of the period • The order value is SEK 40 million. • The customer is a European NATO country and has previously placed 2 large Intercom orders. • The total value of the 3 orders is approx. SEK 70 million. • Most of the systems will be
Slide 9: Breakthrough order for Racal Acoustics headset in the US market
Breakthrough order for Racal Acoustics headset in the US market - after the end of the period • A first major order for the new RA4000 Magna headset, in the North American market. • The order value is SEK 42 million. • Deliveries are planned monthly through September 2023. COMPANY CONFIDENTIAL • The
Slide 10: Continued focus on law enforcement and security
Continued focus on law enforcement and security • Strong development in 2022. • The reinforcement of the sales force and the distribution network has strengthened the market position. • Continued close cooperation with the Swedish police, new framework agree- COMPANY CONFIDENTIAL ments with the Dani
Slide 11: Proposed dividend and policy
Proposed dividend and policy • The Board of Directors proposes a dividend of SEK 0.70 per share (0.70). • The objective is that over time should the dividend be between 25 and 50 per cent of profit after tax. • In the latest five-year period SEK 157 million has been distributed to shareholders - a p
Slide 12: Outlook: Greater geopolitical uncertainty
Outlook Greater geopolitical uncertainty • Substantially increased defense budgets in coming years. • The need for modern communication equipment with hearing protection is great in many countries and larger budgets will allow faster roll out. • Short term: limited impact on INVISIO. COMPANY CONFIDE
Slide 13: Outlook: Positive expectations for 2023
Outlook Positive expectations for 2023 • INVISIO is significantly stronger and more stable today, as a result of the broadening of the product portfolio, the acquisition of Racal Acoustics and the strengthening of both the R&D and sales organization. • This combined with a significant order book and
Slide 14: Questions and answers
COMPANY CONFIDENTIAL 14 Questions and answers
Slide 15: Appendix
Appendix INVISIO
Slide 16: Condensed consolidated income statement
Condensed consolidated income statement and consolidated statement of comprehensive income 2022 2021 2022 2021 SEK in millions Note Q4 Q4 Full year Full year Revenue 2 289.2 152.2 775.5 593.0 Cost of goods sold -123.2 -66.4 -325.7 -252.6 Gross profit 166.0 85.8 449.7 340.4 Operating expenses* 3 -106
Slide 17: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position SEK in millions Assets Note 31/12/2022 31/12/2021 Goodwill 56.2 54.5 Capitalized development costs 3 103.5 92.6 Other intangible assets 3 79.2 89.3 Property, plant and equipment 3 20.8 17.1 Right-of-use assets, leases 3 22.8 33.7 Deposits for re
Slide 18: Condensed consolidated statement of cash flow
Condensed consolidated statement of cash flow 2022 2021 2022 2021 SEK in millions Note Q4 Q4 Full year Full year Operating activities Profit/loss before tax 55.5 2.1 62.5 23.5 Adjustments for non-cash items 17.3 11.8 57.4 47.7 Income tax paid -8.9 -6.7 -19.0 -9.0 Cash flow from operating activities