IVISYS AB (‘IVISYS’) has today published the interim report for the period January to September 2019. Below is a summary of the report.
First nine months (2019-01-01 – 2019-09-30)
- Revenue for the period was 6 521 (5 599) KSEK.
- Operating income was -9 547 (-5 362) KSEK.
- Earnings per share were -0,74 (-0,44) SEK.
- The equity ratio was 15,3 (53,5) %.
Third Quarter (2019-07-01 – 2019-09-30)
- Revenue for the period was 3 895 (1 920) KSEK.
- Operating income was -379 (-3 009) KSEK.
- Earnings per share were -0,04 (-0,23) SEK.
Earnings per share: Earnings of the period divided by 12 681 083 shares.
Equity ratio: Equity divided by total assets.
Figures in parentheses are numbers for the corresponding quarter the previous year.
IMPORTANT EVENTS DURING THE THIRD QUARTER OF 2019
- IVISYS (’IVISYS’) has received the fourth repeat order worth approx. 80.000 EUR for a inspection system for Orkla Home Care, delivered together with a new production line from Östrand & Hansen who will be IVISYS customer for this delivery.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
- IVISYS AB (’IVISYS’) has received the second order from Logevo for a Logistic Inspector. The value of the order is approx. 50.000 Euro and will affect earnings in Q4 of 2019.
- IVISYS announced that the Swedish Patent authorities has issued an official approval of the company’s patent ‘Uniform Light Distribution’. The patent defines a method to optimize how light is distributed over an inspection area, in order to obtain the best possible lightning conditions when inspecting for surface flaws. The patent has been approved without any remarks during the application process, which indicates the patent’s height regarding novelty and that the patent stands out compared to other patents covering comparable processes.
- IVISYS received an order for one Shape Inspector from Gnutti Carlo. The value of the order is approx. 120.000 Euro and will affect the earnings in Q4 of 2019 and Q2 of 2020.
- The board of directors announces new share issuance, which at full subscription should contribute 6,46 MSEK to the company prior to issuance cost.
CEO MIKAEL SJÖHOLM COMMENTS
It is my great pleasure to be able to publish IVISYS’s first positive result of approximately kSEK 155 thousand before goodwill amortization for Q3. From the result, it can be seen that our breakeven level is low when we look at the number of orders needed to cover our costs.
In 2019, IVISYS has worked intensively with the integration of the Danish operations into the Swedish, which is now complete. This work has included moving a number of key persons from Denmark to Sweden, so that today we have all resources gathered in Stockholm. As previously mentioned, all these changes have required both a lot of time and resources during the past year, not least to complete a number of time-consuming customer projects, but have created good prerequisites for the future. Furthermore, we have now also a better flow in our production, which of course will benefit our profitability going forward. On the order side, new long-term customers are steadily growing, where repeat orders and service contracts can be expected.
At the same time, IVISYS has developed a number of standard products together with a number of key customers, which are now spreading to a broader market, where strong customer references have a positive effect on the sales process. These standard products are less time consuming to produce and means good opportunities for repeat orders from existing customers as well as a shorter sales and production cycle going forward.
One of these orders was the repeat order from IKEA’s wholly owned subsidiary Logevo, which, in the same way as the order from Goodtech / Nobel Biocare, points to many new installations over the next few years.
In order to finance the opportunities we see in the market in the near future, the Board has decided that the company will carry out a new share issuance in accordance with the mandate given at the Annual General Meeting in May.
In general, it feels like IVISYS has started its growth journey based on our standard products, which has been our strategy since the merger between ICS and IVISYS a year ago.
I look forward with great confidence upon the future, and would like to take this opportunity to thank all the shareholders who follows our development.
Mikael Sjöholm, CEO IVISYS AB
Please visit https://ivisys.com/interim-reports/ to find the full report (in Swedish)
Svensk Kapitalmarknadsgranskning AB
Phone: +46 11 32 30 732
FOR MORE INFORMATION, PLEASE CONTACT:
Jakob Kesje, Chairman of the Board, IVISYS AB
Phone: +45 20 22 60 10
This information is information that IVISYS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on November 7th 2019.
IVISYS is combining the knowledge of two engineering companies, one with a superior patented image processing software and the other with a unique superior command of Image acquisition. The unique product offering of IVISYS with the IVISYS Pro software suite, the use of artificial intelligence (AI) and outstanding quality in light and sensor knowledge is giving the Industry automated vision inspection solutions that are reliable, fast and flexible. With a portfolio of standard solutions that can be integrated in almost all industrial productions the market accessible to IVISYS is global, large in volume, and growing at the rate of the industry automation, currently strongly driven by the industry 4.0 approach. The solutions offered are available to most industrial manufacturers due to the short ROI, when comparing to existing manual control widely used in the industry today.
Elected as “TOP 10 Machine Vision solution provider in Europe 2019” by Technology Insights Manufacturing.