MOBOTIX ends the 3rd quarter with a total revenue increase of 20% to €47.2 million compared to the same period last year (€39.3 million). EBIT amounts to € -1.2 million after 9 months compared with EBIT of € -6.6 million in the same period of the previous year.
Based on the new strategic focus on solutions for the vertical markets of industry, energy, healthcare and transportation/mobility, software revenues increased by 133% to €6.2 million (including the Vaxtor Group acquired in the previous fiscal year) and by 37% to €2.8 million (excluding the Vaxtor Group) compared to software revenues in the first 9 months of fiscal year 2021/22.
The gross profit margin increased from 48% to 49% reflecting the focus on more profitable vertical markets and reduced costs for production material, which were negatively impacted by supply chain challenges and the COVID pandemic in the previous year.
The full year forecast for sales and EBIT predicts that the growth trend of the first 9 months will be maintained, but that planned customer projects from August and September will be postponed to the new fiscal year, resulting in expected sales of approx. € 64.0 million to € 66.0 million (previous year: € 56 million) and EBIT in the range of € -0.8 million and € 0.2 million (previous year: € -7.5 million).
The growth in both revenues and profit confirms the trend and increased revenues after H1 although not yet in line with the targets determined by the Management Board as some projects are estimated to be delayed due to the global economy impact on inflation and increasing interest rates combined with the recent development in Purchasing Managers Index (PMI).
The expected project delays will however be partly mitigated by a restructuring of specific cost areas. Further investments in digitalization of MOBOTIX with e.g. new online customer platforms and communication will further improve customer experience and will be implemented from BY 2023/24 (October 2023).
This will be further supported by the launch of a new camera platform being developed in a close co-operation with selected partners and address customer requirements for increased use of AI combined with camera technology based on German cybersecurity- and NDAA standards that have been requested by many global customers.