Invisio Ab · OMXSTO:IVSO
Invisio Ab — Q2 2023 Earnings Presentation
19 slides from Invisio Ab's earnings presentation, Jul 21, 2023
Slide 1: Protection at work, a better life at home
Protection at work, a better life at home Interim Report January – June 2023 Continued strong order intake and a well-filled order book Investor Conference Call July 21, 2023 CEO Lars Højgård Hansen 1
Slide 2: Highlights Q2, 2023
Highlights Q2, 2023 Continued strong order intake and a well-filled order book • Record high order intake - amounted to just over SEK 400 million. • The order book at almost SEK 800 million. • Sales R12 exceeds SEK 1 billion for the first time. • INVISIO received the largest order ever, worth SEK 13
Slide 3: Record strong order intake
Record strong order intake SEK million SEK million • Order intake SEK 400+ million in the quarter. 400 1.400 • Order intake YTD exceeds SEK 700 million. 350 1.200 • The order intake R12 at SEK 1.3 billion. 300 1.000 • Announced Racal Acoustics orders totaling 250 SEK 220 million. 800 200 • Close to
Slide 4: Strong order book
Strong order book SEK million • Order book stands close to SEK 800 million. 900 700 • The majority of the order book is to be 800 delivered this year. 600 700 • The higher inventory reflects upcoming 600 500 deliveries. 500 400 • Standard products – almost zero scrapping. 400 300 300 200 200 100 SEK
Slide 5: Revenue R12 pacing SEK 1 billion
Revenue R12 pacing SEK 1 billion SEK million SEK million • Q2 Sales at SEK 270 million – a growth of 400 1.200 76% compared to Q2 2022. 63% in comparable currencies. 350 1.000 • Sales YTD close to SEK 600 million - twice 300 as high as the corresponding period last 800 250 year. 200 600 • Europe acc
Slide 6: Gross margin, 60+ per cent
Gross margin, 60+ per cent • Component supply is back to normal so % very few spot market buys. 70 • The main drivers for the gross margin are 68 the proportion of direct sales versus via 66 distribution partners … 64 • … and the product mix during the 62 reporting period. 60 58 56 54 Per cent Q2, Q
Slide 7: Operating expenses – in line with the trend
Operating expenses – in line with the trend SEK million SEK million 150 500 • OPEX correlated to number of employees. 130 450 • Recruiting is driven by business 400 opportunities. 110 350 90 300 70 250 50 200 150 30 SEK million Q2, Q2, Jan-Jun, Jan-Jun, Delta, R12 FY, 100 2023 2022 2023 2022 % 2022
Slide 8: Substantially improved margins
Substantially improved margins • Average EBIT-margin last 12 months is 19 % per cent 40 • Deliveries around the turn of the month 35 can have a major impact on sales and margins in the quarter. 30 • Therefore, the development must be 25 assessed in a longer perspective. 20 15 10 5 0 Per cent Q2, Q2,
Slide 9: The largest order ever …
The largest order ever … • INVISIO has received an order worth approx. SEK 130 million for hearing protection and related products under the Racal Acoustics brand. • The customer is a branch of the US DoD. • The systems will be used in heavy combat vehicles. • Deliveries will take place during the c
Slide 10: A European NATO country placed a SEK 90 million order
A European NATO country placed a SEK 90 million order • The order is for hearing protection and communication systems under the Racal Acoustics brand. • The systems will be used in heavy military vehicles. • Most of the deliveries will take place during the current year. 10 Q2 2023
Slide 11: The INVISIO V60 Gen II ADP
The INVISIO V60 Gen II ADP • The INVISIO V60 Gen II ADP - an advanced PTT and warfighter hub that provides more functionality and flexibility whilst integrating systems and data to reduce the number of devices carried by soldiers. • It builds on previous iterations of INVISIO’s V- Series, adding the
Slide 12: The "new" market is here to stay
The ”new” market is here to stay Largest increase in Great need for Larger budgets Long term: military spending modern will allow faster higher budgets in Europe in 30 communication roll out will mean an years* equipment increased demand 12 Q2 2023 *Sipri April 2023 Q2 Q12023
Slide 13: Positive expectations for 2023
Positive expectations for 2023 The extensive forward-looking investments carried out in recent years, combined with a substantial order book and a generally strong market, mean that we predict continued strong sales, order intake and profitability in 2023. 13 Q2 2023
Slide 14: INVISIO
INVISIO
Slide 15: Appendix
Appendix INVISIO
Slide 16: COMPANY CONFIDENTIAL
Q2 2023 16 COMPANY CONFIDENTIAL
Slide 17: COMPANY CONFIDENTIAL
Q2 2023 17 COMPANY CONFIDENTIAL
Slide 18: COMPANY CONFIDENTIAL
Q1 2023 18 COMPANY CONFIDENTIAL
Slide 19: COMPANY CONFIDENTIAL
Q2 2023 19 COMPANY CONFIDENTIAL