MOBOTX Business Increasing in Most Global Markets in Q2
MOBOTIX business has developed with more than 100% in the important Americas markets in Q2 as a result of the increased focus on new business development in especially thermal camera sales where the company has been able to attract and develop several new accounts based on the sales strategy focused on vertical solutions.
Also European business progressed with 35% growth derived from e.g. focusing on healthcare in several markets. The DACH home markets increased 6% year-on-year.
Business development in the APAC and Middle East markets developed slower with focus shifting towards the vertical business like in the other markets.
VAXTOR Technology and Development Progressed Further with New Investments
The VAXTOR business increased with more than 50% during Q2 where resources and investments have been increased for ANPR technology development to meet the growing demand. This is line with corporate focus at software and solution business for all MOBOTIX Group companies where specific vertical markets are targeted.
Half Year Results
MOBOTIX product sales increased by 16% year-on-year in the first half of the 2024/25 financial year. MOBOTIX' total revenue recorded growth of 22% and totaled EUR 27.8 million (previous year: EUR 22.8 million) in the first half of the financial year 2024/25.
This positive result was mainly achieved in the strategically important core markets of DACH (+10%), Europe (+42%) and the USA (+64%). Sales developed in line with the strategy which focuses on increasing sales in the industrial, energy and healthcare sectors.
The software business recorded a 12,5% share of sales thanks to the vertical solutions, including the VAXTOR software apps for Object Character Recognition (OCR).
The VAXTOR business continued growth and increased its sales by 37% year-on-year to EUR 2.7 million (previous year: EUR 2.0 million).
The further growth of OCR technology is therefore in line with the expectations and scalability of the VAXTOR business model and confirms the strategy of vertical solution orientation. The requirements in specific vertical markets are analyzed on an ongoing basis. Investments will focus even more strongly on the opportunities offered by AI software to open up new markets for camera technology.
The new MOBOTIX ONE camera platform contributed EUR 2.8 million to MOBOTIX' product sales in the first half of the financial year 2024/25.
Government development cost reimbursements for projects such as the improvement of the thermal camera portfolio and the development of the MOBOTIX ONE platform totaled EUR 1.8 million in the first half of the financial year 2024/25.
As a result of last year's restructuring, total HR costs declined by further 7% from EUR 11.3 million in the 2023/24 financial year to EUR 10.6 million in the first half of the 2024/25 financial year. At the same time, investments were made in vertical solution sales with a focus on healthcare and industrial solutions.
EBIT thus increased from EUR -3.2 million in the first half of the 2023/24 financial year to EUR +1.1 million in the first half of the 2024/25 financial year.
These results are in line with the communicated mid-term plan. The forecast for financial year 2024/25 is therefore maintained.
“We are pleased to see that our strategic focus on specific technologies and vertical markets, which we have implemented in the past years, are starting to pay off and all teams are very focused in keeping this strong momentum during the next months and years,” says CEO, Thomas Lausten.
“EBIT expectations are also progressing as we keep a strong focus on a lean business management with lower SG&A and investments in other cost reduction areas, e.g. online tools for our partners etc.,” says CFO, Klaus Kiener.
