MOBOTIX announces final results for business year 2020/21, dividend proposal, targets for fiscal year 2021/22 and review of medium-term plan for 2022/23
Langmeil, January 10, 2022 – MOBOTIX AG announces final results for the fiscal year 2020/21. On October 13, 2021 MOBOTIX published preliminary, unaudited key figures for the past fiscal year. After that, the French competition authority DGCCRF imposed a penalty on MOBOTIX on November 8, 2021 due to alleged price fixing with French distributors for periods in the fiscal years 2011/12 to 2017/18. MOBOTIX has taken legal action against this penalty and decided to form a one-time provision in the amount of € 0.7 million in the past fiscal year which ended as of September 30, 2021. MOBOTIX is not aware of similar legal proceedings in other countries.
MOBOTIX generated sales of € 62.4 million (previous year: € 70.4 million) and an operating profit, EBIT, of € 0.2 million (previous year: € 6.2 million) in the past fiscal year. The decrease compared to the preliminary EBIT of € 1.0 million as reported in the press release of October 13, 2021 is in particular due to the mentioned provision.
Equity ratio as of September 30, 2021 was 42.7% compared to 48.6% as of September 30, 2020. Investments in research & development increased to 12.9% of total revenue compared to 8.7% in the previous fiscal year confirming the strategic focus.
The Management Board of MOBOTIX AG proposes to the annual general meeting the distribution of a dividend at the previous year's level of € 0.04 per share.
The continuation of investments initiated in the course of 2020/21 will focus on research and development, in particular artificial intelligence, and on expanding the global sales teams especially in Americas where the sales organization has been developed during Q4/2021 to cover the US market.
MOBOTIX business targets for the fiscal year 2021/22 are as such: Revenue of € 70 - 73 million and operating income (EBIT) of € 1.5 - € 3.0 million. In the 1st quarter of fiscal year 2021/22 MOBOTIX generated sales of ca. € 12.8 million and a negative EBIT of ca. € 1.5 million. The 1st quarter 2021/22 followed common seasonal patterns, was impacted by Omikron-related sales delays and by semiconductor supply chain challenges. An orderbacklog of around € 1 million in addition to achieved sales will as such be shipped in the second quarter of fiscal year 2021/22.
Growth is expected mainly in the second half of fiscal year 2021/22, resulting from the expansion in especially the US market and Europe/DACH combined with a higher sales target confirmed by Konica Minolta Inc. of min. € 10 million due to enhanced co-operation in several markets. The market research company Novaira Insights expects growth for particularly the Americas in the coming years. MOBOTIX has achieved the NDAA compliance that opens new market opportunities in the US. The domestic market (respectively the DACH region) is also expected to remain a growth driver, where MOBOTIX already holds a strong position as the third largest in that market.
MOBOTIX expects furthermore increasing revenues in fiscal year 2021/22 from upcoming product launches in hard- and software solutions for vertical markets based on artificial intelligence and realized initial software sales. These efforts are supported by further expansion of the product portfolio. 18 new hardware and software solutions were launched in November 2021, including four new applications for the MOBOTIX 7 platform, that address the focused vertical markets where the company now are addressing new areas for usage of video surveillance technology.
This will be supported by a planned increased co-operation with Konica Minolta Inc. especially focusing joint development related to the new Konica Minolta IoT platform for sensor products, FORXAI - focused towards market opportunities based on deep learning and AI algorithms. In addition, the cooperation with Konica Minolta is being expanded through a new global sales offensive as mentioned above.
The Management Board has also decided to review the midterm plan from 2018 considering the changed market conditions past years by COVID-19, new market opportunities and investments initiated. MOBOTIX expect to release the new plan during the second quarter of fiscal year 2021/22.
The Annual General Meeting is scheduled to take place as virtual AGM on January 27, 2022.