Invisio Ab · OMXSTO:IVSO
Invisio Ab — FY2018 Earnings Presentation
18 slides from Invisio Ab's earnings presentation, Feb 15, 2019
Slide 1: INVISIO Communications
INVISIO Communications Conference Call | Feb 15, 2019 | CEO Lars Højgård Hansen
Slide 2: Agenda
Agenda • CEO Lars Højgård Hansen comments Q4 and Full Year, 2018. • Q&A. • Financial performance in further details. 2
Slide 3: Breakthrough in the US and first order of new intercom system
Breakthrough in the US and first order of new intercom system Q4/18 3
Slide 4: Q4 2018: Several major expected orders delayed until first half of 2019
Q4 2018: 2018 2017 2018 2017 SEK in millions Q4 Q4 ∆% Full year Full year ∆% Revenue 95.6 118.1 -19 354.5 365.7 -3 Gross profit 47.4 71.1 -33 199.7 202.3 -1 Gross margin, % 49.5 60.2 56.4 55.3 EBITDA 21.6 28.3 -24 67.7 82.9 -18 Operating profit/loss 20.6 27.3 -25 63.5 78.6 -19 Operating margin, % 21
Slide 5: Development in sales and operating profit
Development in sales and operating profit Sales Operating profit MSEK 400 MSEK 100 350 80 300 250 60 200 40 150 100 20 50 0 0 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 5
Slide 6: Sales and order backlog per quarter and rolling 12 months
Sales and order backlog per quarter and rolling 12 months Sales Order Backlog MSEK 140 400 MSEK 200 120 350 160 100 300 250 120 80 200 60 80 150 40 100 40 20 50 0 0 0 Q2 2015 Q2 2016 Q4 2014 Q4 2015 Q2 2017 Q2 2018 Q4 2016 Q4 2017 Q4 2018 Q2 2015 Q2 2016 Q4 2014 Q4 2015 Q2 2017 Q2 2018 Q4 2016 Q4 20
Slide 7: Growth potential in existing markets
Growth potential in existing markets • First smaller order for INVISIO’s intercom system. • INVISIO’s sales teams in the USA, France and Italy receiving several orders from existing and new customers. • Continued delivery on present contracts and additional orders from the U.S. Army Security Force A
Slide 8: INVISIO awarded with GSA-status in the US
INVISIO awarded with GSA-status in the US Allows federal, state and local government entities to quickly and efficiently purchase INVISIO equipment at pre-negotiated terms and conditions. 8
Slide 9: Potential for geographical expansion
Potential for geographical expansion • Further increase our presence • The same business pattern as in existing markets. in the western world: large • Continued marketing volume orders expected after in growth countries has having received orders from resulted in a series of small special forces. or
Slide 10: Broader product portfolio through innovative development
Broader product portfolio through innovative development Multiple users and radios can connect simultaneously, controlling Investments during the year in both existing and new product categories are the highest in the company’s history and will lead to new product launches in 2019. Bridging the gap
Slide 11: First order of INVISIO's intercom system
First order of INVISIO’s intercom system The INVISIO Intercom System • First pilot order received late 2018 from a defense customer in Europe. • Seamless integration between the dismounted and mounted soldier. • Mounted in vehicle or carried on the go in a backpack. A step to further strengthen INVI
Slide 12: 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 (0.60). 12
Slide 13: Q&A
Q&A INVISIO”
Slide 14: Thank you!
Thank you! Photos by courtesy of Forsvarsgalleriet, Denmark | UK Ministry of Defence/Crown copyright 2016. Contains public sector information licensed under the Open Government License v3.0. 14
Slide 15: Financial performance in further details
Financial performance in further details Q4 and Full Year 2018 15
Slide 16: Condensed consolidated income statement and comprehensive income
Condensed consolidated income statement and consolidated statement of comprehensive income 2018 2017 2018 2017 SEK in millions Note Q4 Q4 Full year Full year Revenue 2 95.6 118.1 354.5 365.7 Cost of goods sold -48.3 -47.0 -154.7 -163.4 Gross profit 47.4 71.1 199.7 202.3 Operating expenses* -26.8 -43
Slide 17: Condensed consolidated statement of financial position
Condensed consolidated statement of financial position SEK in millions Assets Note 31/12/2018 31/12/2017 Capitalized development costs 49.7 27.7 Equipment 4.4 4.5 Deposits for rent, long-term 1.7 1.5 Deferred tax assets 3 15.6 25.9 Inventories 101.3 36.3 Trade receivables 104.6 121.1 Other short-ter
Slide 18: Condensed consolidated statement of cash flow
Condensed consolidated statement of cash flow 2018 2017 2018 2017 SEK in millions Q4 Q4 Full year Full year Operating activities Profit/loss before tax 21.1 24.9 64.2 73.5 Adjustments for non-cash items -0.1 3.3 2.0 7.3 Income tax paid -0.1 -2.1 -4.8 -2.7 Cash flow from operating activities before c