The Management Board of MOBOTIX has presented an updated midterm strategy including corporate planning for the next three years after pandemic and the new market conditions. This plan is based on detailed analysis and outlines revenue target of min EUR 90 million by fiscal year 2023/24 and an EBIT margin around 9% which corresponds to an annual average revenue growth rate of 11 %.
The growth drivers of the 3-year plan is based on a solution approach for 6 vertical markets to be addressed by a new high-performance camera platform with corresponding analytical software applications based on artificial intelligence, including cloud-based software applications. The artificial intelligence and big data integration with cameras open several new market opportunities also outside the traditional security markets in especially US and EMEA – hence focus on video surveillance Beyond Human Vision.
The product strategy includes expansion of the complementary product line MOBOTIX MOVE and a high-end expansion of the existing 7-series camera platform as well as contract developments in the hardware and software area for the majority shareholder Konica Minolta within the framework of the new IoT sensor platform FORXAI.
The sales focus is based on developing MOBOTIX value proposition in selected vertical markets to end-users in co-operation with existing and new partners in US markets as well as EMEA, DACH and APAC. It furthermore includes additional development of Konica Minoltas global market presence.
M&A activities may be included as further drivers of this strategy following recent acquisition of Vaxtor Technologies in Spain.
Key points of the 3-year plan will be presented at the Equity Forum spring conference in Frankfurt in May 2022 but will already by March be introduced to key shareholders.
MOBOTIX will furthermore invite to a company presentation in June where developments in sales and R&D will be presented including key points of the 3-year plan. The Management Board will be available to answer investors' questions in 1 on 1 meetings.
The capital market advisor Montega will also publish an update of its study on the company in May 2022. Further roadshows and capital market conferences are planned for the second half of 2022.
We hope in the meantime for peace and send our most sincere thoughts to the people of Ukraine. MOBOTIX has separately confirmed that all sales to Russia have been stopped with immediate effect.