Image Scan Holdings Plc · LSE:IGE
Image Scan — Shareholder Meeting (March 2011)
15 slides from Image Scan's shareholder meeting presentation, Mar 17, 2011
Slide 1: Annual General Meeting 17 March 2011
ANNUAL GENERAL MEETING 17 MARCH 2011
Slide 2: FY10 Highlights
FY10 Highlights • Three consecutive years of security sales in excess of 1.1m • Stronger gross margin of 55% arising on sales of standard security systems • Appointment of UK sales manager in May 2010 • Investment in new products to broaden the security portfolio • ISO:9000 accreditation awarded in
Slide 3: Income Statement
Income Statement 2007 2008 2009 2010 Revenue (£’000) 1,542 2,005 1,444 1,472 Gross Margin (%) 46% 45% 48% 55% Overheads (£’000) 1,522 1,360 1,283 1,218 Profit/(Loss) (£’000) (761) (331) (537) (382) EPS (pence) (1.9) (0.6) (1.0) (0.6)
Slide 4: Sales Mix by Sector
Sales Mix by Sector 1400 1200 1000 800 Security 600 Industrial 400 200 0 2005 2006 2007 2008 2009 2010
Slide 5: Sales by Product Range
Sales by Product Range FY07 FY08 FY09 FY10 £’000 £’000 £’000 £’000 £’000 FlatScan 206 687 472 1,165 AXIS 32 440 660 40 Industrial 576 245 122 - Nuclear 450 400 - - Spares & Support & Consultancy 278 233 190 267 TOTAL 1,542 2,005 1,444 1,471
Slide 6: Security Overview
Security Overview • Predominantly FlatScan-TPXi & POD sales • FlatScan sales up 150% across wider customer base • No repeat of large AXIS-3D orders to China • Overall security sales up 6% • Appointed new agents in the Middle East and Asia • Launched POD 2 at Counter Terror in April 2010 in the UK •
Slide 7: Industrial Overview
Industrial Overview • Industrial equates to 16% of FY10 sales • Predominantly Catspect project to provide new software platform for major existing customer • All annual support contracts renewed • Revisiting opportunities in the nuclear sector
Slide 8: Balance Sheet
Balance Sheet £’000 2007 2008 2009 2010 Tangible Assets 111 140 73 49 (£’000) Inventories (‘000) 289 154 233 273 Receivables (‘000) 461 199 246 348 Net Cash (£’000) 1,531 1,535 850 348 Current Liabilities (515) (417) (323) (204) (£’000) Net Assets (£’000) 1,877 1,611 1,079 814
Slide 9: Balance Sheet – in summary
Balance Sheet – in summary • Capital expenditure associated with office relocation of £33,000 • Investment in demonstration equipment to promote EOD vehicle inspection sales • High sales in August and September resulting in increased period end debtors • Year end net cash at £348,000 (FY09: £850,000
Slide 10: Security Sales Strategy
Sales Strategy Security • Growing sales of standard security products • Adding new sales channels to maximise coverage worldwide • UK Sales Manager focused on developing UK market • Development of new security products driven by market feedback: FlatScan-TPXi and 15 Introduction of a smaller FlatSc
Slide 11: Industrial Sales Strategy
Sales Strategy Industrial • Short term focus on market segments where we have a proven track record • Pursuit of enquiries only where probability of repeat business is high • Maintain close contact with historical industrial partners • Developing expertise in nuclear sector Nuclear Waste • Early sig
Slide 12: Current Year
Current Year • Brought forward order book of £90,000 • FY11 order intake to date of £1,560,000 includes: £830,000 nuclear sector contracts £330,000 industrial orders for software and Nuclear waste drum inspection equipment within the automotive sector £400,000 security FlatScan-TPXi orders fro
Slide 13: Current Year
Current Year • Orders of £1,250,000 expected to be delivered in FY11 – £400,000 of nuclear contracts deliverable in FY12 • Increased quotation activity compared to last year – Expanded security product range Nuclear waste drum inspection – Evolving product mix will impact historical margin levels •
Slide 14: Corporate Strategy
Corporate Strategy • Fundamental progress made in repositioning the Company’s strategic focus • Cultural change towards a proactive sales and marketing-led organisation • Developments being market and customer-driven • Well-balanced organisational structure capable of supporting growth • Still imper
Slide 15: Important Notice
Important Notice • This document is issued and approved for distribution within the United Kingdom by Image Scan Holdings plc (the “Company”) only to eligible counterparties and professional clients as defined in the FSA rules. It is not directed at, may not be suitable for and should not be relied
Image Scan Holdings — Shareholder Meeting (March 2011) on 6ix