Communication in extreme environments

INVISIO Communications

Invisio Communications develops and sells advanced communication and hearing protection systems, enabling professionals in noisy and critical environments to communicate while at the same time protecting their hearing. The systems consist of headsets and control units with connections to, for example, an external group radio or a vehicle’s intercom system. Invisio’s customers are mainly agencies in charge of procurements for security forces, so Invisio today holds long-term contracts with defence authorities in, for example, the US, Canada, and Denmark. The products are sold both directly as well as through partners and resellers.

Financials

INVISIO COMMUNICATIONS

SEKm 2017 2018 2019
Sales 366 401 497
Sales growth (%) 10,8 9,6 24
EBITDA 83 87 129
EBITDA margin (%) 22,7 21,7 26
EBIT adj 90 82 117
EBIT adj margin (%) 24,7 20,6 23,6
Pretax profit 74 83 117
EPS rep 1,41 1,43 2,05
EPS growth (%) -33,1 1 43,8
EPS adj 1,68 1,43 2,05
DPS 0,6 0,8 1,1
EV/EBITDA (x) 40,8 29,6 19,8
EV/EBIT adj (x) 37,4 31,2 21,8
P/E (x) 56,1 42,7 29,7
P/E adj (x) 47,2 42,7 29,7
EV/sales (x) 9,2 6,4 5,2
FCF yield (%) -0,1 1,9 1,8
Dividend yield (%) 0,8 1,3 1,8
Net IB debt/EBITDA -1,4 -1,7 -1,2