Slide 1: A strong start to 2024
A strong start to 2024 Protection at Investor Conference Call work, May 7, 2024 a better life at CEO Lars Højgård Hansen home 1
Slide 2: A strong start to the year
A strong start to the year • INVISIO received a record order for our Intercom system worth SEK 230 million, along with an order of SEK 235 million for third-party radio systems for armored vehicles … • … resulting in a record high order intake of SEK 670 million and an order book exceeding SEK 1 bil
Slide 3: Record high order intake
Record high order intake SEK million SEK million • Order intake of SEK 673 million, or SEK 438 million excluding the radio order. 800 1,800 • Intercom system order of SEK 230 million and 1,600 700 third-party radio order worth SEK 235 million. 1,400 600 • Customers increasingly favor tried and teste
Slide 4: Robust order book and strong delivery capability
Robust order book and strong delivery capability SEK million • Order book of SEK 1,025 million or SEK 790 million excluding the radio order. 1200 800 • Approximately 80 percent of the order book 700 will be delivered within 12 months. 1000 • Standard-product inventory of SEK 252 million, 600 reflect
Slide 5: Six consecutive quarters of strong revenue
Six consecutive quarters of strong revenue SEK million SEK million • Revenue in line with Q1 2023. • Deliveries are made according to customers' 400 1,400 requirements. 350 1,200 • No currency effect. 300 • Higher market activity, broader product 1,000 portfolio and increased sales resources 250 ena
Slide 6: Gross margin exceeds 60 percent
Gross margin exceeds 60 percent % • Gross margin (GM) at 61.0 percent (62.5). 70 • The GM for the radio order will be less 68 than 10 percent. This effect is expected to be visible in the Q2 2024 report. 66 64 62 60 58 56 SEK million Q1 2024 Q1 2023 Delta % FY 2023 54 Gross margin 61.0 62.5 -1 60.3
Slide 7: Stable trend for operating expenses
Stable trend for operating expenses • Operating expenses were largely in line with the SEK million SEK million prior quarter but were 24 percent higher than 150 600 in Q1 2023. • The increase related primarily to future-focused 130 500 investments in hiring more R&D and sales 110 personnel, in accor
Slide 8: Margins at satisfactory levels
Margins at satisfactory levels • The operating margin was in line with the fourth quarter of 2023 and R12, but lower % than the corresponding quarter of the 40 previous year. This is due to the fact that in the growing sales trend, we still see 35 fluctuations between quarters while our 30 investmen
Slide 9: SEK 230 million order for Intercom system…
SEK 230 million order for Intercom system… • The order from a European customer for INVISIO Intercom systems includes a full suite of INVISIO Dismounted Soldier systems. • INVISIO will act as prime contractor and system integrator for the entire communications system, including vehicle radios. • Tot
Slide 10: … Including third party radios
… Including third party radios • The order also entails a maintenance and spare parts package, which will be delivered during 2025 and 2026. • The third-party vehicle radios order will have an impact on the gross margin as INVISIO will receive a service margin of less than 10 percent. • INVISIO sees
Slide 11: Launch of INVISIO X7 Headset
Launch of INVISIO X7 Headset • The INVISIO X7 offers a whole new level of comfort, ease of use and hearing protection. • A recent independent test credited the INVISIO X7 with delivering an industry-first level of hearing protection superior to all other tactical headsets for dismounted use. • An IN
Slide 12: Continued high market activity
Continued high market activity • Overall activity levels continued to be high in our markets during the quarter. • Strong interest from existing and potential new customers, especially in systems designed for heavy armored vehicles and environments exposed to consistently high noise levels. • We exp
Slide 13: Q&A
Q&A INVISIO
Slide 14: Appendix
Appendix INVISIO
Slide 15: Condensed consolidated income statement and share data
Condensed consolidated income Share data statement and consolidated statement of comprehensive income Full year SEK million Note 2023 Revenue 2 the p Cost of goods sold dilut Gross profit Operating expenses” 3 + dilution, SEK Operating profit Net jal items ( 02 and Profit before tax 51. utstanding,
Slide 16: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position March31, March 31, Deo3t, March31, March 31, Deo3t, SEK million Note 2024 2023 2023 SEK million Note 2024 2023 2023 ASSETS ‘SHAREHOLDERS’ EQUITY AND LIABILITIES ‘current assets Sharaholders' equity 7937 579.8 0K Coutil 612 bie 58.0 Non-current l
Slide 17: Condensed consolidated statement of cash flow
Condensed consolidated statement of cash flow Jan-Mar Full year Jan-Mar Full year SEK million Note 2026 2023 2023 SEK million Note 2024 2023 2023 Operating activities Financing activities, Profit before tox 12 rcising employee stock option: = 586 Adjustments for non-cash items 180 floan 50 65.0 Inco