Slide 1: FY2025 Results for the 6 months to 30 September 2024
FY2025 Results for the 6 months to 30 September 2024 24 October 2024
Slide 2: Headlines
Headlines Disappointing H1 revenue; although strong Retail Distribution progress Revenue – £1.9 million (H1 2024: £3.5 million) Retail Distribution – good progress, doubled to £1.6 million and comprised 85% of sales. Customs/Entrance – absence of material orders (H1 2024: one Customs order of £1.9 m
Slide 3: Top line performance
Top line performance Revenue by market sector Revenue by geography -45% -45% 3.5 3.5 0.8 2.8 2.8 2.0 0.2 1.0 0.4 2.0 1.9 2.0 1.9 1.7 0.1 0.4 1.0 +100% 0.8 1.6 2.0 1.7 1.3 1.8 0.0 1.0 0.7 0.8 0.0 0.2 0.1 0.0 0.0 0.2 0.0 0.0 0.2 0.0 0.2 FY22 H1 FY23 H1 FY24 H1 FY25 H1 FY22 H1 FY23 H1 FY24 H1 FY25 H1 C
Slide 4: Retail Distribution
Retail Distribution Strong performance with revenue doubling year-on-year. 85% of H1 revenue derived from Retail Distribution. Detection of inbound contraband now rivalling theft reduction as a key market driver – concealed weapons and narcotics inbound as well as outbound theft add weight to the al
Slide 5: Customs Agencies
Customs Agencies Progress with two new customers signed in FY24 Thai Customs - being deployed at four airports and several crossings on the northern border. Future fleet expansion likely Dominican Republic Customs - deployed at four airports with major seizures now reported – see image on right. Exi
Slide 6: Entrance Security
Entrance Security Limited orders in the half year, with timing of projects hard to predict Typical Entrance Security sites include: Sites of national significance VVIP sites Corporate headquarters Sales pipeline FY25 Bank headquarters Critical national infrastructure High security government s
Slide 7: Aviation
Aviation TSA National Mandate forcing investment by US airports in Aviation Worker Screening technology TSA Mandate - mean airports will require new technology which provides Explosives detection capability Mobile and redeployable Credentials - we are very well placed to meet these requirements,
Slide 8: Value Added Resellers
Value Added Resellers Existing countries covered are shown below 10 VARs appointed, in addition to Sensormatic, with sales pipeline strengthened by new leads not accessible to Thruvision previously. We intend to sign additional channel partners Page 7 in the future.
Slide 9: Product roadmap
Product roadmap Continued excellent progress in developing all areas of technology to maintain competitive advantage and drive upgrades Unique patented technology… 71 Series launched in 81 Series Feb-24 with particular Fully mature, patented modular Enabling manufacturing focus on Retail New design
Slide 10: Outlook
Outlook The leading provider of walk-through security screening solutions FY revenue expectations of £9m Healthy pipeline – across all markets with particular near-term opportunities in Entrance Security and Retail Distribution. Strengthening sales partnerships – Value Added Resellers in early stage
Slide 11: Appendix
THRUVISION COMMERCIAL IN CONFIDENCE APPENDIX Page 10
Slide 12: Financial summary
Financial summary H1 H1 FY25 FY24 £m £m Revenue 1.9 3.5 Adjusted gross profit 1.0 1.9 Adjusted gross margin 50.4% 53.9% Adjusted EBITDA loss (2.1) (1.4) Adjusted loss before tax (2.4) (1.6) Overheads Down £0.3 million driven by lower sales and marketing costs, with salary inflation absorbed by reduc
Slide 13: Financial performance
Financial performance Adjusted EBITDA loss Overheads down 9% with sales & Adjusted gross profit down £0.9 million marketing down £0.2 million and Adjusted gross margin 50.4% down 3.5bps other functions movements less Mix driven by product. than £50k as costs controlled. (1.4) (0.9) (0.1) 0.3 (2.1) 0
Slide 14: Financial performance: cash flow and working capital
Financial performance Cash flow and working capital Receivables inflow of £0.95m Inventory outflow of £0.85m Payables outflow of £0.1m 4.1 Principally investment in demo equipment (£0.2m). (2.1) 0.0 0.1 (0.2) 1.8 (0.1) (0.1) 0.1 0.0 FY24 Adjusted Net Tax Capex Lease Purchase Net Exchange FY25 Sep Ma
Slide 15: Financial performance: FY revenue outlook
Financial performance FY Revenue outlook 12.4 +15% 9.0 8.4 7.8 6.7 FY21 Actual FY22 Actual FY23 Actual FY24 Actual FY25 Expectation Page 14
Slide 16: Tom Black Executive Chairman Thruvision Plc
Tom Black Victoria Balchin Executive Chairman Chief Financial Officer Thruvision Plc 121 Olympic Avenue Milton Park Abingdon Oxon, OX14 4SA t: +44 (0) 1235 425400