With the launch of the new MOBOTIX ONE video platform, MOBOTIX will focus on its core competencies and will in parallel invest in a significant growth plan for VAXTOR software solutions based on the achieved results past years and months. As a pioneer in decentralized video technology, MOBOTIX launched the first decentralized camera system on the market, which was considered a “computer with eyes”. The robustness and security of MOBOTIX is considered a prime example of quality 'Made in Germany'. AI and deep learning-based apps, which are developed and distributed by VAXTOR and also work efficiently with MOBOTIX hardware, are main parts of the future earnings drivers for MOBOTIX.
MOBOTIX will meet the increasing competition in the global mass market for video technology by focusing on increased AI and software sales demand in selective, sensitive and critical infrastructures and vertical areas, which could be described as niche markets, but with significant market potential. The focus will be on healthcare, industry/utilities, the public sector and transportation. Customers in these areas are already aware of the dangers that digital industrial espionage or hybrid attacks can cause and are prepared to invest in reliable and trustworthy systems to ensure the greatest possible security and optimization of processes and workflows. The current MOBOTIX projects with Stavanger University Hospital, Norway for deployment in healthcare facilities, for a solar park in the Murcia region in Spain or for the Federal Aviation Authority ( FAA ), USA are just three examples of customers that decided for MOBOTIX solutions.
A new mid-term plan has been defined based on further market analysis and with more focused investments in selected profitable product areas and markets rather than volume focus. The market-leading MOBOTIX thermal technology is included in the new strategy e.g. early fire detection and has achieved five international certifications. MOBOTIX has a pioneering solution on the health care market with 'c71 NurseAssist' that reduces false alarms by up to 90%. Health care employees can as such focus directly on the patients that require urgent and direct support.
The innovative IoT camera platform MOBOTIX ONE defines new standards for business intelligence and automation applications. It is characterized by high robustness, quality and durability. At the same time, MOBOTIX ONE is open to any intelligent, AI- and deep learning-supported applications thanks to pre-installed apps and the option to install additional specific software.
The share of revenue from software licenses and app development increased in financial year 2022/23 to around 13% of total revenue. This share is to be increased in the coming years and is estimated to be expanded to 20 % in the medium term. The objective with the new mid-term plan will as such be more focused on a lean cost structure and strong focus on EBIT by increased software sales rather than top line growth.
The first half of business year 2023/24 was impacted by inventory reductions at key customers due to increased interest rates and year-end closings. Sales ended at EUR 23.0 million and with a negative EBIT of 3.2 EUR million in line with the expected full-year sales projections of EUR 54.0 - 56.0 million and an EBIT of around EUR 0.3 – 1.0 million following cost reductions in BY 2022/23 and 2023/24.
EBIT of around EUR 4.0 million is expected in business year 2024/25 based on sales projections of EUR 60.0 million mainly impacted by increased software sales development. In business year 2026/27, EBIT of around EUR 7.5 million is planned to be achieved with sales of around EUR 69.0 million, which will correspond to an EBIT margin of around 11% as a result of adapted strategic focus on software development and sales.
