MOBOTIX sales ended at EUR 50.0 million during the business year 2023/24 and are therefore in line with the latest forecasts. The software business increased to 13% related to vertical solutions including VAXTOR’s object character recognition software apps.
The main reasons for the lower sales in BY 2023/24 are derived from reduction in inventories among single top customers and some project delays in especially the Middle East.
The new MOBOTIX ONE camera platform was delayed compared to the original plan due to extended quality tests. The product launch has however positively impacted Q1 sales in BY 2024/25.
A restructuring has decreased total HR costs by 14% from EUR 25.4 million during BY 2022/23 to EUR 21.8 million in BY 2023/24. Other operating expenses were also reduced - from a total of EUR 13.3 million to EUR 7.9 million, while investments were made particularly in the vertical solution sales with focus on healthcare and industry solutions.
The established bad debt provisions of EUR 3.2 million on trade receivables in BY 2022/23 lead to a reversal of EUR 0.2 million in other operating income. Further accounts receivables are followed up accordingly also during current business year of BY 2024/25. Currency losses were reduced by EUR 0.6 million compared to previous year.
EBIT results were as such EUR -3.0 million compared to the previous year (EUR -3.9 million). The consolidated net loss ended at EUR -5.5 million compared to the previous year (EUR -5.4 million).
The final audit of the financial statements is expected to be completed by the end of February 2025 while the Annual General Meeting is scheduled for 11th April 2025.
MOBOTIX secured intercompany loan prolongations until 31st March 2026.
As of 25th February 2025, EUR 44.7 million loan commitments from the reporting year, which included unutilized EUR 4.0 million, were extended to 31st March 2026 by the majority shareholder.
On the 25th of February 2025, the majority shareholder granted further credit lines in the amount of EUR 8.5 million, also until 31st March 2026.
Regained sales growth of 20% during Q1 compared to prior year.
MOBOTIX product sales in Q1 of BY 2024/25 increased by 23% YoY and sales increased overall by 20% in Q1 of BY 2024/25 and were mainly derived from focused core markets DACH, Europe and US. Sales were in line with the strategy focusing on especially industry, energy and healthcare sectors. VAXTOR business continued growth and increased sales by 21% YoY.
The further growth in OCR technology is as such in line with expectations and scalability of VAXTOR business model and confirms the vertical solution focus strategy. Further analysis will be made related to the requirements in specific vertical markets. Investments will focus even further on the opportunities with AI software that open new markets for camera technology.
The new ONE camera platform has been launched in all global markets and further models are planned to be launched during BY 2024/25. These will significantly enhance MOBOTIX market presence and strengthen the offering by providing innovative and comprehensive solutions that meet the partners and customers’ needs.
The new MOBOTIX sales leadership team has implemented solutions with their global partners integrating software applications which lead to enhanced value for end-customers in e.g. industry, energy and healthcare. Government development re-imbursements on projects, such as improvements on the thermal portfolio and development of the ONE platform, amounted to EUR 1.4 million.
EBIT has increased as such from EUR -1.5 million during Q1 of BY 2023/24 to EUR 1.4 million during Q1 in BY 2024/25.
These results are in line with the communicated mid-term plan and forecast for BY 2024/25 is as such maintained.
