October-
- Net sales increased by 10.9% to
EUR 31.3 million (28.2) -
Net sales of Industrial Solutions Business Unit (IBU) increased by 7.1% to
EUR 5.0 million (4.6) -
Net sales of Medical Business Unit (MBU) increased by 3.6% to
EUR 13.1 million (12.7) -
Net sales of Security Business Unit (SBU) increased by 21.1% to
EUR 13.2 million (10.9) -
Operating profit (EBITA) excluding NRI was
EUR 4.6 million (2.8) - Operating margin (EBITA-%) excluding NRI was 14.8% of net sales (9.9%)
-
Operating profit (EBITA) was
EUR 4.6 million (2.8) - Operating margin (EBITA-%) was 14.8% of net sales (9.9%)
-
Earnings per share were
EUR 0.24 (0.16) -
Earnings per share (diluted) were
EUR 0.24 (0.16)
January-
- Net sales increased by 5.3% to
EUR 103.8 million (98.6) -
Net sales of IBU increased by 0.2% to
EUR 16.1 (16.1) -
Net sales of MBU increased by 0.5% to
EUR 48.4 million (48.1) -
Net sales of SBU increased by 14.3% to
EUR 39.3 million (34.4) -
Operating profit (EBITA) excluding NRI was
EUR 9.7 million (6.1) - Operating margin (EBITA-%) excluding NRI was 9.3% of net sales (6.2%)
-
Operating profit (EBITA) was
EUR 8.8 million (5.8) - Operating margin (EBITA-%) was 8.5% of net sales (5.9%)
-
Earnings per share were
EUR 0.38 (0.35) -
Earnings per share (diluted) were
EUR 0.38 (0.35) -
Dividend
EUR 0.23 per share* (0.20)
UNAUDITED (Figures in parentheses refer to the corresponding period of the previous year.) (*The Board of Directors' proposal to the AGM.)
President and CEO,
"The year 2023 culminated in record-breaking Q4 sales and a significant improvement in our result. Efficiencies carried out in Q3 along with good growth in sales boosted our profitability to the target level. Despite fiercer competition, we maintained our market positions in all our businesses. This is a solid foundation to go forward.
Our industrial sales increased thanks to our new thin-film transistor (TFT) flat panel detector portfolio but still lagged behind our growth target. Regarding sales split by applications, the lion's share of sales originated from applications optimized for quality inspection in the automotive industry. Whereas demand in the food sector, which has traditionally been important to us, remained modest. We believe that our product portfolio, which expanded thanks to our business acquisition, will open up opportunities in new applications and help us to turn our industrial sales onto a stronger growth path.
Despite the continuing uncertainty in the global medical market, the Chinese government's ongoing anti-corruption campaign targeted at end-operators in the healthcare sector, and fierce price competition, our medical application sales grew slightly. Demand improved toward the end of the year, as the Chinese public administration's annual budgets closed. In our view, the impacts of the anti-corruption campaign on demand dynamics will continue during H1 2024. We are cautiously optimistic that demand will increase globally at the end of H1 2024.
Growth in demand continued to take off in aviation computed tomography (CT) and line scanner applications in
The efficiencies carried out in Q3 2023 paid off: our fixed costs decreased, in addition to which the increase in sales exceeded expectations. Thanks to these factors, we reached our profitability target. We generated cost savings of about
The development of our new facilities in Oulu,
The most significant event this year was our business acquisition. We successfully completed the integration process of Haobo Imaging in Q4 2023, and we have continued the development and sales of our new product portfolio. We believe our new business will grow faster than our traditional businesses.
Given the Chinese anti-corruption campaign, uncertainty in the medical markets will continue, and in our view, medical sales will decrease in Q1 and H1 2024. We expect growth, however, to continue in our other main markets, and both our security and industrial applications sales to see double-digit growth in Q1 and H1 2024. Overall, we anticipate our year-on-year sales to remain stable in Q1 and H1 of 2024, and annual growth to be close to our target."
Key figures
( | 10-12/2023 | 10-12/2022 | 1-12/2023 | 1-12/2022 |
Net sales | 31,315 | 28,226 | 103,794 | 98,580 |
Change in net sales, % | 10.9% | 14.1% | 5.3% | 9.8% |
EBITA excluding NRI | 4,622 | 2,804 | 9,656 | 6,135 |
EBITA excluding NRI, % | 14.8% | 9.9% | 9.3% | 6.2% |
Non-recurring items (NRI) | 0 | 0 | -873 | -335 |
EBITA | 4,622 | 2,804 | 8,784 | 5,801 |
EBITA, % | 14.8% | 9.9% | 8.5% | 5.9% |
R&D costs | 2,723 | 3,069 | 11,702 | 12,549 |
R&D costs, % of net sales | 8.7% | 10.9% | 11.3% | 12.7% |
Cash flow from operating activities | 2,987 | 3,730 | 9,672 | -294 |
Net interest-bearing debt at end of period | -12,665 | -20,584 | -12,665 | -20,584 |
Investments | 1,121 | 654 | 14,426 | 1,628 |
Return on investment (ROI), % | 9.9% | 7.5% | 9.9% | 7.5% |
Gearing, % | -17.4% | -28.3% | -17.4% | -28.3% |
Earnings per share, EUR | 0.24 | 0.16 | 0.38 | 0.35 |
Earnings per share (diluted), EUR | 0.24 | 0.16 | 0.38 | 0.35 |
Number of shares at the end of the period | 14,655,930 | 14,655,930 | 14,655,930 | 14,655,930 |
Weighted average number of shares outstanding | 14,655,930 | 14,655,930 | 14,655,930 | 14,655,930 |
Weighted average number of shares outstanding, diluted | 14,655,930 | 14,655,930 | 14,660,912 | 14,717,042 |
Business outlook
Geopolitical situation,
Q4 2023 webcast
A link to the webcast is available on the company's website at https://www.deetee.com/reports-and-presentations/webcasts/. A recording of the webcast will be available later on the same web address.
This release is a summary of
Board of Directors,
Further information
President and CEO
+358 500 449 475, hannu.martola@deetee.com
Nordea is the company's Certified Advisor under the Nasdaq First North GM rules, +358 9 5300 6774
Distribution: Nasdaq Helsinki, key media, www.deetee.com
https://news.cision.com/detection-technology-oyj/r/detection-technology-plc-financial-statements-review-january-december-2023,c3920605
https://mb.cision.com/Main/18787/3920605/2576782.pdf
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