Q2 2024 Invisio AB Earnings Call Transcript
Key Points
- Invisio AB (FRA:ICQ) achieved record sales and strong growth in Q2 2024, with revenues reaching SEK553 million, more than double the previous year.
- The company launched several new products, strengthening its market-leading position.
- Gross margin for Invisio-related business was strong at 63.2%, indicating positive impact from newer products.
- Operating expenses remained largely stable, excluding certain one-offs, demonstrating effective cost management.
- The company has a substantial inventory, allowing for rapid deliveries and flexibility in responding to market demands.
- Order intake was somewhat lower than the same quarter last year due to usual fluctuations and timing of orders.
- The company experienced a cyber incident in the UK, which incurred costs, although it did not affect business operations.
- Cash flow was widely negative in Q2 2024 due to prepayments for radio suppliers and dividend payouts.
- There was a significant drop in revenue from markets outside Europe, attributed to usual fluctuations.
- The EBIT margin, while above target, was impacted by the lower gross margin of radio deliveries, which was less than 10%.
Welcome to Invisio's presentation of interim report June, March 2024. (Operator Instructions) Now I will hand the conference over to the CEO, Lars Hoejgaard Hansen. Please go ahead.
Thank you, and good morning, everybody. Welcome to our presentation of the second quarter and first half year results. I know this is a busy day, busy week with many companies reporting. So tried to make it short and precise.
So the headline for our Q2 performance is that we saw strong growth with record sales and several new products launched. During the quarter, it is a little bit unusual due to the fact that we have been delivering on the and radio and Intercom order that we received in the first quarter. So this stir up the numbers a little bit, and we've tried to be as precise and clear as we can about what is the regular Invisio business and what is related to the deliveries of the radio order.
So in the quarter, I said our sales reached record high numbers and growth was strong. We also
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