The trend in the third quarter of the current fiscal year 2019/20 has further developed after an increased demand for thermal camera solutions.
Sales have increased by estimated 13% YOY until end of May. EBIT impact is in line with plan due to the cost reduction program earlier outlined in “Fit for the Future” restructuring plan.
US Sales in May 2020 exceeded €3 million and as such was the highest revenue in one month ever recorded.
The Management Board forecast on sales and earnings for the 2019/20 fiscal year is in line with the Management Report for the 2018/19 annual financial statements, although the product mix deviates from the annual planning due to Covid-19 with some vertical markets progressing faster than others due to business closures or openings. Inventory levels and working capital financing have been adjusted accordingly to meet the changed demand.
The planned revenue for fiscal year 2019/20 is forecasted at a level of €70 million with planned EBIT in a range of €2.5 million to €3.0 million excluding capitalized development costs.
The publication of the report on the half-year financial statements is confirmed as planned for the end of June 2020. Sales in the first half of the 2019/2020 fiscal year were below plan in some global markets but were offset by increases in the third quarter. The thermal business and the new focused sales strategy by approaching end-users together with MOBOTIX partners has been implemented and will be further developed for all product areas in close co-operation with MOBOTIX distributors and resellers. This channel strategy has been further developed by implementing the MOBOTIX Partner Program which offers extended benefits to resellers with increased business in all markets.
EBITDA (10.3% of total output; earnings before interest, taxes, depreciation and amortization) for the first half of 2019/20 is around €3.6 million, an increase of €0.2 million compared with the first half of the previous year (€3.4 million). EBIT (6.8% of total output; earnings before interest and taxes) amounts to around €2.4 million and is thus at the level of the first half of the previous year.
The first half of 2019/20 closed with a net profit for the period of around €1.5 million (first half of 2018/19: €1.5 million) and a return on sales of 4.5% (first half of 2018/19: 4.2%).