Ivisys publ : AB (‘’) has today published the interim report for the period January to December 2019

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

Press release
IVISYS AB
556998-4981
2020-02-24

Full year (2019-01-01 - 2019-12-31)

• Revenue for the period was 9 115 (6 726) KSEK.
• Operating income was -13 379 (-12 400) KSEK.
• Earnings per share were -0,90 (-1,02) SEK.
• The equity ratio was 30,5 (29,5) %.

Fourth Quarter (2019-10-01 - 2019-12-31)

• Revenue for the period was 2 594 (1 127) KSEK.
• Operating income was -3 832 (-7 037) KSEK.
• Earnings per share were -0,17 (-0,56) SEK.

Definitions

Earnings per share: Earnings of the period divided by 12 894 807.

Equity ratio: Equity divided by total assets.

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

CEO MIKAEL SJÖHOLM COMMENTS

The year 2019 has been marked by major changes for IVISYS, especially the transfer of resources and staff from Denmark to Sweden, which was an important step towards efficient production in the future. We have seen challenges regarding the production of orders placed during the year, but with our combined resources now in Stockholm, we will significantly improve our ability in terms of delivery efficiency.

Concentrating the company to Stockholm has also meant that, in parallel with existing orders, we have been able to develop a number of new highly advanced products with great potential, including newly developed products for IKEA and Nobel Biocare.

During the year, we also adjusted our staff, so that we will be able to handle the service and production organization needed for serial deliveries to our customers. We have moved our company into bigger premises enabling our planned expansion.

Our focus in the future will now go from managing the merger of IVISYS and Image Control Systems (today Ivisys Sweden AB) and its deliveries of older projects, to selling our new merged product range based on our upgraded IVISYS Pro software, which will be configurable to be used in IVISYS all standard systems in the future. This will also significantly increase our production capacity as well as give us resources to further develop new and existing products and thereby maintaining our position as a technology leader in our main industries.

Financially, we took a step back in 2019, partly because we increased the cost base with new employees, restructuring costs for the concentration of the company to Stockholm. However we increased sales by 35%, and although we are not satisfied with this, we are convinced we will significantly increase sales with our new product portfolio.

It is gratifying that IVISYS continued to strengthen its position during the fourth quarter as well. In November, we received one of the biggest orders of the year, from the ICA Group, placing orders for two IVISYS Pallet Inspector, which is the first order for this newly developed product. The IVISYS Pallet Inspector is a unique product that will replace the manual and mechanical control that now performed at the client, and is our first product where we use new technologies such as Deep Learning.

This year's intensive sales work of IVISYS Pallet Inspector has resulted in strong interest from a number of other potential clients, primarily in Sweden, but also in Germany, France and England. These future customers are following our first delivery with great interest. The same applies to IVISYS Logistic Inspector, which will be displayed at LogiMat in Stuttgart in March. A solution that basically everyone who sends and receives goods on pallets can benefit from. These two products, together with our IVISYS Tray Inspector, constitute our offering to logistics companies in general.

Within a few months, I will hand over as CEO to our new CEO Stefan Bohman, who with his solid industrial background will take IVISYS from a mainly developing company to series-producing company with our new product portfolio. It is a journey we all look forward to and believe will make IVISYS one of the bigger players in the field of Optical Inspection. I myself will focus on the technological development and develop new solutions for our customers, which is what I am passionate about.

There is a lot going on that favors IVISYS. We have all been able to read from several sources, during the year, about a continuously increased demand for automation and reliable quality control in the industry, and we are proud that more and more large clients are turning to us because we can deliver robust solutions with a technology level at the absolute top . Our solutions not only reduce risk of substandard delivery, but also contribute to more efficient production for our customers. Our strategy - to sell, manufacture and maintain our own developed standard products - is therefore unchanged even though it has taken a little longer to realize.

The year 2020 looks very promising for IVISYS as we have already expected repeat orders on the way, for example from Nobel Biocare (GoodTech) and Logevo / IKEA, so we look forward to the new year with great confidence.

Mikael Sjöholm, CEO IVISYS AB

Please visit https://ivisys.com/interim-reports/ to find the full report (in Swedish)

CERTIFIED ADVISER
Svensk Kapitalmarknadsgranskning AB
Phone: [phone]
E-mail: [e-mail]

FOR MORE INFORMATION, PLEASE CONTACT:
Jakob Kesje, Chairman of the Board, IVISYS AB
Phone: [phone]
E-mail: [e-mail]

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 February 24, 2020.

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.

Elected as 'TOP 10 Machine Vision solution provider in Europe 2019' by Technology Insights Manufacturing.