IVISYS AB (‘IVISYS’) has today published the interim report for the period January to March 2019. Below is a summary of the report.

Press release
IVISYS AB
556998-4981
13 May 2019

FIRST QUARTER (1 JANUARY 2019 TO 31 MARCH 2019)

– Revenue for the period was 938 (1 941) KSEK.

– Operating income was -4 723 (-601) KSEK.

– Earnings per share were -0.41 (-0.06) SEK.

– The equity ratio was 34.7 % (89.5 %).

Definitions

– Earnings per share: Earnings of the period divided by 11 909 536, as of 31 March 2019.
– Equity ratio: Equity divided by total assets.

Figures in parentheses are numbers for the corresponding quarter the previous year.

The result for first quarter 2019 is primarily influenced by cost of new developments of new products, combined with delayed deliveries of current orders, which will affect positively on the second quarter 2019.

Target for 2019:

  • Turnover for 2019 between 16,0 – 20,0 MSEK
  • Earnings before depreciation (EBITDA) for 2019 between 1,0 – 4,0 MSEK

Current order backlog (incl. LOI) as of Maj 13, 2019 is approx. 10,0 MSEK

IMPORTANT EVENTS DURING THE FIRST QUARTER OF 2019

  • IVISYS has carried out a directed issue of 1,883,450 shares and has thereby received new funding worth approximately 6.6 MSEK. The new shareholder is Athanase Industrial Partner (“Athanase”).

In addition, Athanase takes over the existing loan of 4.5 MSEK. Furthermore, the timing of a possible conversion is moved until February 29, 2020. At this time, Athanase has the opportunity to convert the loan into shares on the same terms as the previous lenders

  • As of February 4, 2018, IVISYS has calculated the value of the orders outstanding, including the letter of intent, which was published on January 31, to total just over SEK 10.0 million for delivery evenly throughout the year 2019. On that basis additional orders worth minimum 10.0 MSEK remains to be ordered for invoicing before the end of 2019 to keep previously published turnover target of 20,0 MSEK.
  • IVISYS receives an initial order combined with a LOI worth more than 5,0 MSEK. IVISYS is to deliver a number of installations to Nobel Biocare together with Goodtech AB, an automation company selected as Nobel Biocare’s supplier for a number of automated inspection cells.
  • IVISYS receives a repeat order for one Implant Inspector to Nobel Biocare, similar to two existing Implant Inspectors already installed. The value of the order is above 40.000 EUR, and will influence Q1 of 2019.


SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

  • IVISIS calls for the annual general meeting. More information is found on the company homepage: www.ivisys.com

IVISYS CEO MIKAEL SJÖHOLM COMMENTS:

IVISYS has had an intense first quarter of 2019. A lot of energy has been invested into developing our product portfolio and the degree of industrialization of the products. As a result, we have taken more time to complete the existing orders, which therefore will contribute positively to Q2 2019. Despite the economic figures, we see the company in a completely different state than a year ago, with clear product lines, a strong and buying clients, a clear interest in buying our standard products in a market that is still growing strongly.

With our low historical sales, we can only look positively on the future, where we can multiply sales in our market, and still only approach a small part of the market. This has been understood among investors and therefore it is gratifying that we Athanase decided to enter as a new strong and active investor during the first quarter. Athanase has extensive experience of developing companies like IVISYS towards strong growth and focus on value creation for investors. The management, who are also among the larger owners, share this clear goal. With Athanase we have now got even more expertise to support this.

During the quarter, we also recruited a new CFO – Maja Johansson, which means that financial management will now have its own dedicated resource as the company increases in size and continuous financial control is becoming increasingly important. On the market side, during the quarter, we have added new resources both within sales and marketing. This means that we can market our products more optimally and increase sales. The expansion of the sales force will continue throughout 2019.

I therefore look forward to developing our market positions in 2019, and gradually doubling our business, as soon as possible with our new resources.

Finally, I would like to mention that IVISYS was selected as a key player in Researchhunts recently published market report in the industrial quality control segment. IVISYS has been selected together with major players such as ABB, Honeywell and Keyence. The report is available here: https://researchunt.com/report/global-automated-industrial-quality-control-market-size-status-and-forecast-2018-2025/. This shows that our marketing and technology work and that IVISYS product offering is seen as strong and interesting for the market.

Mikael Sjöholm, CEO of IVISYS AB

For a full interim report (only in Swedish), please click here.

CERTIFIED ADVISER


Sedermera Fondkommission is Certified Adviser to IVISYS.

FOR MORE INFORMATION, PLEASE CONTACT:


Jakob Kesje, Chairman IVISYS AB Phone: +45 20 22 60 10 E-mail: jk@ivisys.com

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 13 May 2019.

ABOUT IVISYS


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.

Winner of Frost & Sullivan’s entrepreneurial price in Europa 2017.