MOBOTIX announces 27% Revenue growth for 1st half of the 2022/23 financial year after BY 2021/22 below forecast, impacted by COVID-19 pandemic, raw material price increases, worldwide semiconductor shortages and other supply chain problems.
Sales declined by 10.2% to EUR 56 million in the financial year 2021/22 with negative EBIT of EUR -7.5 million (2020/21: EUR 0.2 million). The 2021/22 financial year ended with an annual deficit of EUR 6.3 million (2020/21: EUR 0.1 million). Cost saving programs were implemented while strategic investments in sales and R&D were maintained.
Sales were below expectations mainly due to a large number of project delays caused by the COVID-19 pandemic and delivery difficulties due to supply chain issues.
DACH, Northern Europe, Middle East/Africa and APAC recorded declining sales during BY 2021/22, while sales from video solutions in America and Europe South/West increased in the financial year 2021/22. US sales increased, especially impacted by the stronger cooperation with Konica Minolta USA. New product areas, e.g., software solutions, were also increased in several global markets - adding value to the vertical MOBOTIX solutions.
The annual financial statement for 2021/22 audit resulted in an unqualified audit opinion. Existing credit lines and strategic shareholder support have been secured based on an equity ratio of 27.0% and equity amounting to EUR 23.7 million.
MOBOTIX achieved 27% product sales growth to EUR 32.1 million in the 1st half of the 2022/23 financial year and a positive EBIT of EUR 0,4 million (2020/21: EUR -3.8 million).
Key markets in Europe, US and APAC increased specifically during 1st half of BY 2022/23. During Q1 and Q2, BY 2022/23, sales were further supported by revenue growth in the area of AI and analytics as part of the solution strategy focusing on customer value in specific vertical markets rather than generic product selling. The acquisition of VAXTOR in business year 2021/22 and other strategic investments during business year 2022/23 are key parts of this strategic focus in cyber secure solutions as a business growth driver.
MOBOTIX Group confirms its sales forecast of between EUR 66 million to EUR 68 million for business year 2022/23 with an expected EBIT of between EUR 2.0 million to EUR 4.0 million based on H1 results, pipeline and planned projects in the financial year until September 2023. This is further supported by sales seasonality developments in previous years.
Further sales, marketing and R&D initiatives are implemented in business year 2022/23 to secure a full customer experience based on cybersecurity made in Germany and in line with NDAA compliance as an alternative to Chinese competitors.
The Annual General Meeting has been convened for 26 May 2023. Given that the company incurred a loss, no dividend can be paid for the business year 2021/22. However, MOBOTIX expects to be able to pay a dividend in 2024 again with respect to the current financial year 2022/23.