Dynavox Group Ab · OMXSTO:DYVOX
Dynavox Group Ab — Q4 2022 Earnings Presentation
22 slides from Dynavox Group Ab's earnings presentation, Feb 8, 2023
Slide 1: Year end report Q4 2022 Earnings call
Year end report Q4 2022 Earnings call February 8, 2023
Slide 2: Fredrik Ruben, CEO and Linda Tybring, CFO
Fredrik Ruben Linda Tybring Chief Executive Officer Chief Financial Officer linda.tybring@tobiidynavox.com 2023-02-08 2 © 2022 Tobii Dynavox AB (Publ)
Slide 3: About Tobii Dynavox
About Tobii Dynavox 2023-02-08 3 © 2022 Tobii Dynavox AB (Publ)
Slide 4: Our Vision and Mission
Our Vision A world where everyone can communicate Our Mission We empower people with disabilities to do what they once did, or never thought possible 2023-02-08 4 © 2022 Tobii Dynavox AB (Publ)
Slide 5: Our purpose
~ 50M number of people who cannot communicate effectively without Our purpose communication aids today As the world leader in assistive communication, we will drive the market 2 2 forward while addressing a hugely underserved global audience. ~ M ~ % number of people diagnosed percentage of people y
Slide 6: Our global reach
Our global reach Revenue break down per region¹ • North America 77% • Europe 17% • Other countries 6% Countries where Tobii Dynavox products are sold Tobii Dynavox presence ¹ Based on FY 2022 YTD December revenue figures 2023-02-08 6 © 2022 Tobii Dynavox AB (Publ)
Slide 7: Fully integrated solutions
1 Content Covid Trump Synthetic voices Fully integrated solutions Brexit Wearing Mask TD Snap TD Talk Boardmaker 2 Software 2 Content 1 Software PCEye TD Pilot I-Series I-110 (medical grade) (medical grade) (medical grade) 3 Devices EyeMob ile 3 5 Implementation Devices & Support 4 Assessment & 4 Fu
Slide 8: Q4: October – December 2022
Q4: October – December 2022 2023-02-08 8 © 2022 Tobii Dynavox AB (Publ)
Slide 9: Q4 2022 highlights
Q4 2022 highlights • Strong top-line growth, revenues +48% • Organic growth was 18% • Solid momentum across the board, both in North America and Europe. • Europe and other countries returned to healthy growth, breaking the previous trend • Margins continued to be negatively impacted by high componen
Slide 10: Full year 2022 highlights
Full year 2022 highlights • Revenue grew 40%. The organic growth was 16% • Continued to strengthen our product portfolio • Successful acquisitions • First complete year as a stand-alone listed company 2023-02-08 10 © 2022 Tobii Dynavox AB (Publ)
Slide 11: Key growth drivers for North America in 2022
Key growth drivers for North America in 2022 • Catch-up of pent-up demand due to pandemic • Significant investments in sales, marketing and infrastructure since 2020 are paying off – Hired nearly 40 people in sales and funding during 2022 – New effective digital training methods developed with high
Slide 12: Potential growth drivers going forward
Potential growth drivers going forward • Significant investments in sales & marketing continue to drive sales growth • Competitive product portfolio with the key product launches late 2022 should benefit sales in 2023 • New ALS treatment prolongs life expectancy and hence the benefits from assistive
Slide 13: Financials
Financials 2023-02-08 13 © 2022 Tobii Dynavox AB (Publ)
Slide 14: Q4 2022 Revenue & Gross Margin
Revenue (SEK million) and Gross Margin 362 67% 67% 68% 67% 67% 67% 67% Q4 2022 67% 63% 64% 63% 64% 64% 64% 65% 64% 320 288 Revenue & Gross Margin 221 220 252 241 233 255 245 246 215 217 207 •Revenue was 362 SEKm, +48% 204 165 •Organic revenue growth was +18% •Strong growth across the board, both in
Slide 15: Q4 2022 EBIT
EBIT (SEK million) and EBIT Margin 50 50% 42 40 37 40% 34 30 28 29 28 28 30 30% 25 25 25 Q4 2022 EBIT 20 18 14% 15% 13% 14% 15% 14% 16% 13 17 16 20% 11% 11% 10 10% •EBIT was 25 SEKm 8% 7% 8% 7% 5% 6% •EBIT margin was 6.8% 0 -14% 0% •Opex increased with 12 % organically -10 -10% •R&D spend affected n
Slide 16: Full year 2022 Revenue & Gross Margin
Revenue (SEK million) and Gross Margin 1216 Full year 2022 Revenue & Gross Margin 909 895 872 66% •Revenue was 1,216 SEKm, +40% 65% 65% •Organic revenue growth was +16% 65% •Solid growth in North America •Europe was somewhat hampered by lingering effects from the pandemic. •Gross Margin at 65%, impa
Slide 17: Full year 2022 EBIT
EBIT (SEK million) and EBIT Margin 140 40% 127 35% 120 101 Full year 2022 EBIT 30% 100 82 25% 80 •EBIT was 82 SEKm 20% 60 •EBIT margin was 6.8% 60 15% •Opex increased with 14% organically 14.2% 40 •R&D spend negatively affected by +36 SEKm related to 11.1% 10% both normalized development cost but al
Slide 18: Cashflow after continuous investments and cash position
Cashflow after continuous investments and cash position (SEK million) 200 100 Balance sheet 180 30 43 26 49 46 50 48 41 50 and Cashflow 2 3 Cashflow after continuous investments 160 1 -11 -9 0 -28 - 30 140 -50 •Cash flow after continuous investments +41 SEKm 120 Cash position 100 -100 •Cash position
Slide 19: Summary of quarter and outlook
Summary of quarter and outlook • Very strong sales development, underlying revenue growth was 18% • Strong growth across the board, both in North America and Europe. • Europe and other ountries returned to growth. • Surcharges on components and freight still affect gross margin. Component prices hav
Slide 20: Long-term financial targets
Long-term financial targets > Growth 10% > 15% Profitability To increase currency-adjusted revenue by more To achieve and maintain an EBIT margin in than 10 percent on average per year excess of 15 percent 2.5x Dividend Policy ~ To primarily reinvest the Company's profit and use it for several growt
Slide 21: Q&A
Q&A 2023-02-08 21 © 2022 Tobii Dynavox AB (Publ)
Slide 22: Thank you!
Thank you! 2023-02-08 22 © 2022 Tobii Dynavox AB (Publ)