Invisio Ab · OMXSTO:IVSO
Invisio Ab — FY2019 Earnings Presentation
25 slides from Invisio Ab's earnings presentation, Feb 14, 2020
Slide 1: INVISIO Communications
INVISIO Communications Conference call February 14, 2020 | Year-end Bulletin 2019 CEO Lars Højgård Hansen
Slide 2: Agenda
Bild uppdatering Agenda • CEO Lars Højgård Hansen comments on Q4 and Full Year, 2019. • Q&A. • Financial performance in further details. 2
Slide 3: Strong close to a successful year
Strong close to a successful year 3
Slide 4: Q4 2019 and Full Year
Q4 2019 and Full Year 2019 2018 2019 2018 SEK in millions Q4 Q4 ∆% Full year Full year ∆% Revenue 200.5 95.6 110 513.8 354.5 45 Gross profit 123.1 47.4 160 313.3 199.7 57 Gross margin, % 61.4 49.5 61.0 56.4 EBITDA 76.0 21.6 251 142.6 67.7 110 Operating profit/loss 73.5 20.6 257 132.6 63.5 109 Operat
Slide 5: Development in sales and EBIT
Development in sales and EBIT 5
Slide 6: Order intake and sales can fluctuate between quarters
Order intake and sales can fluctuate between quarters Order intake (MSEK) Sales R12M and actual Sales (MSEK) 300 600 200 250 500 200 400 150 Sales R12M Act Sales 150 300 100 100 200 50 50 100 0 0 0 Order intake Act Sales Sales R12M • Steady long-term growth despite quarterly fluctuations in both sal
Slide 7: New framework agreement with a customer within U.S. DoD
New framwork agreement with a customer within U.S. DoD October 2019 INVISIO has been awarded a five-year IDIQ (Indefinite Delivery, Indefinite Quantity) contract from a customer within the U.S. Department of Defense for communication and hearing protection systems. • The maximum order value, over th
Slide 8: Belgian army chooses INVISIO
Belgian army chooses INVISIO Photo from the Belgium Army Facebook page October 2019 INVISIO in partnership with Thales Belgium, received an order for communication and hearing protection systems from a new customer, the Belgian army. • Order value approx. SEK 30 million for the first order. • Receiv
Slide 9: Swedish Police: Framework agreements and a first order
Swedish Police: Framework agreements and a first order “It is our intention to make this solution available to as many police officers as possible who are at risk of exposure to high noise levels.” Per Olov Olsson, Assignment Leader at the Swedish Police October 2019 The Swedish Police signs framewo
Slide 10: First orders in Japan
First orders in Japan December 2019 Ahead of the 2020 Olympic Games the Japanese Police has placed two orders. • Won the contracts for communication equipment from the Japanese police force with its Japanese partner FLE. • The total order value amounts to SEK 10 million. COMPANY CONFIDENTIAL 10
Slide 11: New customer within the US DoD places a first order of 28 MSEK
New customer within the US DoD places a first order of 28 MSEK December 2019 A new customer within the US Department of Defense, has selected INVISIO to provide a suite of hearing enhancement. • The order is valued at approximately SEK 28 million. • Deliveries will take place in the first half of 20
Slide 12: Strategy for growth
Strategy for growth INVISIO's growth and financial position make continued investment in new markets and R&D projects possible Increase market share Product development 1 Existing markets in Europe, 3 Both further developed and North America and Oceania. new products. Geographical expansion Cost eff
Slide 13: Intercom: a new system for communication in vehicles
Intercom: a new system for communication in vehicles A step to further strengthen INVISIO’s role as a leading supplier of communications and hearing protection solutions. 13
Slide 14: Intercom In a Bag
Intercom In a Bag Intercom in a bag: INVISIO ICS Radios Antennas PWR MGMT Cables Battery COMPANY CONFIDENTIAL 14
Slide 15: Military and defense market for the personal system
Military and defense market for the personal system • 50 million soldiers in the world. • 20 million soldiers are active. • 2 million soldiers in the primary target group, in Europe, USA and selected countries in Asia. • The value of the market is estimated to be about SEK 20 billion. • Procurements
Slide 16: Law enforcement market for the personal system
Law enforcement market for the personal system • 2.7 million police officers in the USA, Europe and selected countries in Asia. • 700,000 – 900,000 police officers are estimated to be the primary target group. • The value of the market is estimated to be about SEK 9 billion. • Customers estimated to
Slide 17: Market for the portable Intercom-system
Market for the portable Intercom-system In a first phase INVISIO intends to focus on the portable Intercom-offer and direct it towards current users of the personal system. • The estimated addressable market is 25,000 – 40,000 systems. • Customers are estimated to carry out procurements at intervals
Slide 18: Market for the mounted Intercom-system
Market for the mounted Intercom-system In a second phase INVISIO intends to address the customers’ existing fleets of vehicles, as well as vehicle manufacturers and companies that equip them. • There are about 650,000 relevant vehicles in the target markets. • Customers are estimated to carry out pr
Slide 19: Proposed dividend
Proposed dividend We believe in our capacity of continued growth with sound profitability. • The Board of Directors proposes a dividend of SEK 0.85 per share (0.70). 19
Slide 20: The year's successes, with new agreements and a growing customer base
“The year’s successes, with new agreements and a growing customer base that can generate continual orders mean that INVISIO holds a strengthened position for the future.” 20
Slide 21: Thank you!
a { y wd “—_ €sars Thank you! INVISIO®,
Slide 22: Financial performance in further detail
Financial performance in further detail Q4 and Full Year 2019 22
Slide 23: Condensed consolidated income statement and comprehensive income
Condensed consolidated income statement and consolidated statement of comprehensive income 2019 2018 2019 2018 SEK in millions Note Q4 Q4 Full year Full year Revenue 2 200.5 95.6 513.8 354.5 Cost of goods sold -77.4 -48.3 -200.5 -154.7 Gross profit 123.1 47.4 313.3 199.7 Operating expenses* -49.6 -2
Slide 24: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position SEK in millions Assets Note 31/12/2019 31/12/2018 Capitalized development costs 85.6 49.7 Equipment 3.1 4.4 Right-of-use assets, leases 4 25.3 - Deposits for rent, long-term 2.3 1.7 Deferred tax assets 3 1.8 15.6 Inventories 95.6 101.3 Trade rec
Slide 25: Condensed consolidated statement of cash flow
Condensed consolidated statement of cash flow 2019 2018 2019 2018 SEK in millions Q4 Q4 Full year Full year Operating activities Profit/loss before tax 72.1 21.1 134.1 64.2 Adjustments for non-cash items 5.4 -0.1 8.7 2.0 Income tax paid -0.9 -0.1 -2.8 -4.8 Cash flow from operating activities before