Invisio Ab · OMXSTO:IVSO
Invisio Ab — FY2021 Earnings Presentation
19 slides from Invisio Ab's earnings presentation, Feb 15, 2022
Slide 1: Protection at work, a better life at home
Protection at work, a better life at home COMPANY CONFIDENTIAL 1 Investor Conference Call, February 15, 2022 I Year-end bulletin 2021 CEO Lars Højgård Hansen
Slide 2: A challenging 2021 ended with strong order intake that has continued in 2022
COMPANY CONFIDENTIAL A challenging 2021 ended with strong 2 order intake that has continued in 2022
Slide 3: Year-end bulletin 2021
Year-end bulletin 2021 2021 2020 2021 2020 SEK in millions Q4 Q4 ∆% Full year Full year ∆% Revenue 152.2 172.8 -12 593.0 532.0 11 Gross profit 85.8 102.2 -16 340.4 309.0 10 Gross margin, % 56.4 59.1 57.4 58.1 EBITDA 12.6 45.5 -72 69.9 108.1 -35 EBITDA margin, % 8.3 26.3 11.8 20.3 Operating profit/lo
Slide 4: Currency adjusted growth FY2021, based on small orders and Racal Acoustics
Currency adjusted growth of 15 per cent FY2021, based on small orders and Racal Acoustics Sales per quarter and rolling 12 months Order intake per quarter and rolling 12 months (SEK million) (SEK million) COMPANY CONFIDENTIAL 4
Slide 5: The long-term development in EBITDA and EBIT margin
The long-term development in EBITDA and EBIT margin EBITDA per quarter (SEK million) and EBITDA EBIT per quarter (SEK million) and EBIT margin rolling 12 months (per cent) margin rolling 12 months (per cent) 80 30% 95 30% 25% 75 25% 60 20% 20% 55 40 15% 15% 35 10% 10% 20 5% 15 5% COMPANY CONFIDENTIA
Slide 6: The structure of the operating expenses FY2021
The structure of the operating expenses FY2021 Operating expenses per quarter (SEK million) Depreciation/amortization 100 80 Growth investment 60 40 Racal Acoustics 20 0 Q2 2021 Q2 2020 Q2 2019 Q4 2021 Q2 2018 Q4 2020 Q4 2019 Q4 2017 Q4 2018 INVISIO COMPANY CONFIDENTIAL Operating expenses 6
Slide 7: Depreciation/amortization
Depreciation/amortization 2021 2020 2021 2020 SEK in millions Q4 Q4 Full year Full year Depreciation of capitalized development costs 4.9 3.5 18.9 6.4 Amortization of Other intangible assets* 3.0 - 11.1 - Amortization of Right of use assets, leases 2.0 1.2 9.3 4.4 Depreciation of Equipment 1.4 0.5 5
Slide 8: Consistent execution of the growth strategy, have further strengthened our market-leading position
Consistent execution of the growth strategy, have further strengthened our market-leading position Strengthen Software & AI Strengthen Racal Broader the sales defined the R&D Acoustics product organization platform organization portfolio Team Future-proof Experts in AI, A global Intercom, T7, of mor
Slide 9: 5-year framework agreement
55-year framework agreement worth SEK 275 million The end-customer is the Armed Forces of a European country. The contract, which is with the system integrator of the end- customer’s vehicle modernization program, concerns Racal Acoustics’ new CVC headset, the RA4000 Magna™ with accessories. No volu
Slide 10: A new army on the client list
A new army on the client list INVISIO received a first order from a European army for the personal system, worth almost SEK 25 million. Expected follow-up order worth about SEK 20 million within two months. COMPANY CONFIDENTIAL 10
Slide 11: Good progress for Intercom
Good progress for Intercom Non-binding order for 200 intercom systems from SkyRunner. An order for 40 Intercom systems from a European NATO country. COMPANY CONFIDENTIAL 11
Slide 12: Continued focus on law enforcement and security
Continued focus on law enforcement and security • Strong development in the quarter. • The reinforcement of the sales force and the distribution network is starting to yield results. • The framework agreements with the Swedish Police Authority has COMPANY CONFIDENTIAL been extended by another year.
Slide 13: 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 (0.70). 13
Slide 14: Outlook: continued growth strategy despite challenges
Despite the challenges in the business environment, in 2021 INVISIO decided to consistently carry out its growth strategy for product development and organizational development. This have further strengthened our market- leading position. COMPANY CONFIDENTIAL Although deliveries in early 2022 may st
Slide 15: Questions and answers
COMPANY CONFIDENTIAL 15 Questions and answers
Slide 16: Appendix
Appendix INVISIO
Slide 17: Condensed consolidated income statement and statement of comprehensive income
Condensed consolidated income statement and consolidated statement of comprehensive income 2021 2020 2021 2020 SEK in millions Note Q4 Q4 Full year Full year Revenue 2 152.2 172.8 593.0 532.0 Cost of goods sold -66.4 -70.6 -252.6 -222.9 Gross profit 85.8 102.2 340.4 309.0 Operating expenses* 3 -84.5
Slide 18: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position SEK in millions Assets Note 31/12/2021 31/12/2020 Goodwill 5 54.5 - Capitalized development costs 3 92.6 94.8 Other intangible assets 3, 5 89.3 - Equipment 3 17.1 4.1 Right-of-use assets, leases 3 33.7 24.0 Deposits for rent, long-term 2.4 2.3 D
Slide 19: Condensed consolidated statement of cash flow
Condensed consolidated statement of cash flow 2021 2020 2021 2020 SEK in millions Note Q4 Q4 Full year Full year Operating activities Profit/loss before tax 2.1 38.9 23.5 84.9 Adjustments for non-cash items 11.8 10.8 47.7 24.0 Income tax paid -6.7 -7.0 -9.0 -12.3 Cash flow from operating activities