Invisio Ab · OMXSTO:IVSO
Invisio Ab — Q4 2023 Earnings Presentation
20 slides from Invisio Ab's earnings presentation, Feb 13, 2024
Slide 1: Protection at work, a better life at home
Protection at work, a better life at home Year-end bulletin 2023 Strong end to 2023 and a promising start to 2024 Investor Conference Call February 13, 2024 CEO Lars Højgård Hansen 1
Slide 2: Strong end to 2023 and a promising start to 2024
Highlights Q4, 2023 Strong end to 2023 and a promising start to 2024 • The positive trend continued through Q4. • Revenue reached a record SEK 346 million (289). • Revenue for the full year exceeded SEK 1.2 billion (776 million). • Strong start to 2024 with an order book exceeding SEK 600 million. •
Slide 3: Another strong quarter for order intake
Another strong quarter for order intake SEK million SEK million 400 1.400 • Order intake close to SEK 300 million in the quarter. 350 1.200 • Order intake nearly SEK 1.3 billion FY 2023. 300 1.000 250 • Continued strong inflow of small and 800 medium sized orders. 200 600 • Decreasing volatility in
Slide 4: Large order book and good delivery capacity
Large order book and good delivery capacity SEK million • Order book stands at SEK 603 million. 900 800 • Inventory value increased to approx. SEK 800 700 240 million (144), reflecting an increase 700 in upcoming deliveries. 600 600 500 • Fast delivery is a strong competitive 500 advantage. 400 400
Slide 5: Fifth consecutive quarter of strong revenue
Fifth consecutive quarter of strong revenue SEK million SEK million • A Q4 revenue of SEK 346 million, up 20 400 1.400 percent from previous Q4 or 13 percent in comparable currencies. 350 1.200 • Revenue exceeded SEK 1.2 billion (SEK 300 1.000 776 million) for the FY 2023 250 – a 60 percent growth.
Slide 6: Gross margin at 60 percent FY 2023
Gross margin at 60 percent FY 2023 % • Gross margin exceeded 60 percent for 70 the FY 2023 … 68 • … and the higher component costs are 66 now behind us. 64 • The margin in Q4 was impacted by a 62 couple deliveries executed through 60 system integrators. 58 56 54 Percent Q4 2023 Q4 2022 Full year Ful
Slide 7: Stable trend for the operating expenses
Stable trend for the operating expenses • Underlying operating costs continued to SEK million SEK million follow the stable trend of recent years. 150 500 • Q4 expenses included an impairment loss 450 of SEK 6.8 million arising from a change in 130 400 strategic direction for a development 110 proje
Slide 8: Margins at satisfactory levels
Margins at satisfactory levels • EBIT-margin FY 2023 was 19.6 percent (8.4) and 18 percent (20.7) for Q4. % • Margins in the quarter were affected 40 negatively by a project impairment loss of SEK 6.8 million. 35 • Excluding the one-off loss, the margin was 30 20 percent in Q4. 25 • The average EBIT
Slide 9: Strong trend in the vehicle market
Strong trend in the vehicle market • Strong sales development for Racal Acoustics branded products. • Main drivers: − Intensive activity in the vehicle market, − High demand for the new RA4000 Magna digital headset, − The withdrawal by a US based competitor. • Highly attractive market conditions 9 i
Slide 10: High interest in Intercom system
High interest in Intercom system • A number of significant orders for the Intercom system during 2024 – sales exceeded SEK 100 million. • Continued high interest in both Europe and the USA. • Expecting large orders in 2024. • The Intercom system will account for a significant portion of total group
Slide 11: Law enforcement and security market
Law enforcement and security market • A large number of orders during 2023. • Several ongoing tests. • There is a strong platform for a continued positive trend. • Will selectively address the firefighting market in 2024. 11 11
Slide 12: X7 – best in class
X7 – best in class • The X7 is our next-generation in-ear headset with AI enhancement. • X7 is based on the latest technology and extensive feedback from users. • A range of new functions and a perfect ergonomic design. • X7 sets a new higher standard. • Strong sales are expected already in 2024. 12
Slide 13: Proposed dividend and policy
Proposed dividend and policy • The Board of Directors proposes a dividend of SEK 1.30 per share (0.70). • The objective is that over time the dividend should be between 25 and 50 percent of profit after tax. • In the latest five-year period SEK 162 million has been distributed to shareholders - a pa
Slide 14: Continued focus on product development and strengthening INVISIO in 2024
Continued focus on product development and strengthening INVISIO in 2024 • Strengthen our competitive advantage further by continuing to broaden the product portfolio. • Secure innovation capacity and long-term high growth by selective recruitment of talents within sales and R&D – but at a lower pac
Slide 15: Market outlook – Defense and security will be high on the agenda for many years
Market outlook – Defense and security will be high on the agenda for many years The highly uncertain geopolitical landscape continues to keep defense and security issues high on the agenda … … adding to the fundamental need for modern communications equipment in many countries. These factors lead us
Slide 16: INVISIO
INVISIO
Slide 17: Appendix
Appendix INVISIO
Slide 18: COMPANY CONFIDENTIAL
Q3 2023 18 COMPANY CONFIDENTIAL
Slide 19: COMPANY CONFIDENTIAL
Q3 2023 19 COMPANY CONFIDENTIAL
Slide 20: COMPANY CONFIDENTIAL
Q3 2023 20 COMPANY CONFIDENTIAL