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CEO Interim Report (Jan-Jun 2003): Sales Struggles amid Market Restraints

The interim report for the first half of 2003, led by CEO Ray Mauritsson, highlights the challenging market environment that continues to restrain sales performance. Net sales stood at SEK 305 million, impacted by negative currency effects totaling SEK 40 million, and an operating loss of SEK 4 million. Despite a positive trend in video sales and new agreements in prioritized segments, the outlook remains cautious due to weak IT investments. The company aims for a positive operating result by year-end and targets a 30% sales growth and a profit margin of 10-15% by 2005.

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CEO Interim Report (Jan-Jun 2003): Sales Struggles amid Market Restraints

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  1. Interim ReportJanuary - June 2003 CEO Ray Mauritsson

  2. Continued restrained market affects sales

  3. Financial Performance • Net sales: SEK 305 M (335) • Currency effects impacted negatively: SEK 40 M • Operating loss: SEK -4 M (18)

  4. Sales by quarter Q2: Restrained market conditions Continued growth in Video Weak development within Print, Scan & Store Mkr 180 160 140 Other 120 100 80 60 Video 40 20 0 Q1 Q3 Q4 Q1 Q2 Q2 2003 2002

  5. EBIT by quarter Q2: • Gross margin: 52.8% (56.6) • Operating margin: -2.8% (4.4) • Profit margin:-0.4% (5.4)

  6. Business development Q2 • Continued growth for Video • New agreements in prioritized segments • Additional developer partners; total 145 • Aggressive product road map

  7. Sales Q2 Sales by Product Group Sales by Region Access and other 3% Scan & Store 4% Asia 24% Print 38% 55% Video 49% EMEA 27% Americas

  8. A growing Video market • Global market leader • A base of more than 200,000 units installed • Significant growth potential • Growing interest in surveillance and security • Shift from analog to digital solutions • New technical possibilities

  9. Technology evolution Three stages: 1. CCTV: analog 2. DVR: digital capture 3. IP: digital networking 3. IP: digital networking CCTV IP DVR 2000 2005 2010

  10. Revised financial targets A growth target of 30 percent in sales and a pre-tax profit margin of 10-15 percent by 2005 at the latest.

  11. Outlook 2003 • Weak IT investments • Unchanged long term growth potential for Video • Goal of positive operating result for the full year 2003

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