Interim Report Q1 2021
April 29, 2021
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Q1 2021 Summary
Increased business activity across the board and significant profitability improvement
- Organic growth of 1% despite continued pandemic related headwinds and a 5 pp headwind from supply chain issues
- Sharp increase in customer activity for all business areas
- Important design wins and product launches
- Operating result SEK -9 million (-23) showing a good pace towards our goal of achieving profitability for the full year 2021
- Announced our plans to spin off Tobii Dynavox
Tobii Dynavox
- World's leading supplier of assistive technology for communication
- Market share close to 40%
- Provides products that enable users with disabilities to speak and communicate effectively
Tobii Dynavox's mission is to empower people
with disabilities to do what they once did,
or never thought possible
59%
Share of Tobii's
gross sales (LTM)
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Tobii Dynavox Q1 2021
Strong demand increase notable in the sales pipeline
- Revenue pressured by pandemic and supply chain disruptions
- Underlying activity improved and the sales pipeline developed favorably
- Favorable trends in reimbursements - President Biden signed a new law securing improved reimbursement opportunities for ALS patients
- Continued strong traction for new I-series
During the quarter, engagement in social media
increased by 202% to a total of 5 million interactions. This is partly driven by unboxing videos, such as Unboxing the New Speech Case
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Tobii Dynavox Q1 2021
Financials
- Revenue declined 6% organically
- Around 7 pp impact from supply chain disruptions
- Covid-19had strong negative impact on sales
- New I-Series continued to be a growth driver
- Strong trends in sales pipeline
- Gross margin was 68% (68%)
- EBIT margin of 13% (15%)
- Negatively affected by the organic revenue decline caused by supply chain disruptions, while currency effects, and lower amortization and higher capitalization of R&D contributed positively to the margin.
- Adjusted for these effects (in both this quarter and the comparison quarter) the underlying profitability was improved by slightly more than 1pp y/y
Revenue (SEK million) and Gross Margin
68% | 67% | 68% | 66% | 63% | 67% | 68% | 64% | 68% | 63% | 67% | 67% | 68% | ||||||||||
217 | 215 | 221 | 219 | 251 | 241 | 217 | 233 | |||||||||||||||
199 | 207 | 204 | 203 | |||||||||||||||||||
175 | ||||||||||||||||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | |
2018 | 2019 | 2020 | 2021 |
EBIT (SEK million) and EBIT Margin
36 | 34 | |||||||||||
30 | 28 | 28 | 27 | 27 | ||||||||
25 | ||||||||||||
22 | ||||||||||||
18 | 17 | 17,2 | ||||||||||
14 | 15% | 15% | ||||||||||
14% | 13% | 13% | 13% | |||||||||
11% | 11% | 11% | ||||||||||
8% | 9% | 8% | 8% | |||||||||
Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 |
2018 | 2019 | 2020 | 2021 | |||||||||
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Tobii AB published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 09:42:04 UTC.