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    DGB   GB00B627R876

THRUVISION GROUP PLC

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Thruvision : Interim Results FY21 – Investor presentation

11/23/2020 | 06:33am EST

Thruvision Group plc

Interims results to 30 September 2020

23 November 2020

Highlights

Despite challenges presented by Coronavirus, strong Q2 performance and careful overheads management resulted in break-even EBITDA for the first half. The varying effects of the pandemic on our different market segments driving further focus within business

Revenues broadly flat at £4.7 million (H1 2020 £4.8 million) with average revenue per unit and gross margins steady

Break-even EBITDA achieved (H1 2020: (£0.2 million) loss) based on careful overhead management Continued mix of new "flagship" customer wins and further purchases by existing customers

  • Profit Protection - four new Profit Protection customers, including Superdrug's parent company
    AS Watson, plus three returning customers, with CEVA Logistics signing since period end
  • Customs - Second significant order from US Customs, and major Gulf State becomes ninth international customer
  • Aviation - for employee screening, LaGuardia becomes third airport customer along with further purchase by Seattle Airport, and Coronavirus-delayed US Transportation Security Administration testing for passenger screening now restarting
  • First lease hire deals completed in Profit Protection
  • Cash at 30 September 2020 of £5.0 million (31 March 2020: £8.4 million), with cash at 20 November 2020 of £7.8 million

Page 1

FY21 Half Year Income Statement

Strong second quarter and break-even EBITDA based on careful overheads management

£ million

H1

H1

% change

FY21

FY20

Revenue

4.7

4.8

(2%)

Gross Profit

2.3

2.3

0%

Gross Margin

48%

48%

0%

Total admin expenses

(2.2)

(2.5)

(12%)

EBITDA*

0.0

(0.2)

Page 2

* Excludes share based payments

Overhead costs

  • Overheads - reduced from 52% to 49% of revenue and continue to be closely managed
  • Engineering - decreased by £0.1 million - less external R&D spend and reduced travel
  • Sales & Marketing - flat despite our investment in our strategically important US and Profit Protection markets. Investment in two new sales heads offset by close cost management and a reduction in travel specifically to and from Middle East and
    APAC
  • Property & Administration, PLC & Management - savings primarily due to reduced travel

Overhead costs *

H1

H1

£ million

FY21

FY20

Engineering

(0.7)

(0.8)

Sales & Marketing

(0.8)

(0.8)

Property & Administration

(0.2)

(0.3)

PLC & Management

(0.5)

(0.6)

Total

(2.2)

(2.5)

* Excludes Share Option charges, Depreciation & FX

Page 3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Thruvision Group plc published this content on 23 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2020 11:32:06 UTC


ę Publicnow 2020
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Colin Michael Evans Managing Director & Executive Director
Adrian Graham Crockett Director & Finance Director
Thomas Joseph Black Executive Chairman
Richard John Amos Non-Executive Director
John Andrew Woollhead Secretary
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