Invisio: Winning ground in a new field (Eng. version)

Research Update

2017-11-06

15:53

This is an English version of our research update of November 2. Q3 EBIT fell to SEK 14m (expected SEK 22m) after shipments were postponed because customers requested a colour change for the products. The new product category of intercom solutions for vehicles seems very promising. Overall, the company is still cautious in providing information on the intercom solution, but indicates that the addressable market is as large as its traditional market, ie SEK 5bn. We are lowering our short-term sales estimates somewhat because the TCAPS budget for 2018 appears to be significantly less than we hoped. However, we have left our valuation unchanged since the company continues to strengthen its position. As previously, we envisage some weaker months for order intake until new budgets are in place.

VW

Viktor Westman

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