International. The company officially announced that with the recent launch of its new video platform called Mobotix One, it will focus on its core competencies and, in parallel, invest in a significant growth plan for Vaxtor software solutions based on the results obtained in recent years and months.
The company indicated that it will now address increasing competition in the global mass market for video technology by focusing on the growing demand for software and AI sales in selective, sensitive and critical infrastructures and vertical areas, which could be described as niche markets, but with significant market potential.
The focus will be on healthcare, industry/utilities, the public sector and transport. Customers in these areas are already aware of the dangers that can be caused by digital industrial espionage or hybrid attacks and are prepared to invest in reliable systems to ensure the highest possible security and optimization of processes and workflows.
"A new medium-term plan has been defined based on more detailed market analysis and with investments more focused on selected profitable product areas and markets rather than focusing on volume. Mobotix's thermal technology is included in the new early fire detection strategy and has achieved five international certifications," the brand's statement said.
Mobotix indicated that the share of revenue coming from software licensing and application development increased in the 2022/23 fiscal year to around 13% of total revenue. This proportion will increase in the coming years and is estimated to reach 20% in the medium term. The goal of the new medium-term plan will focus more on a lean cost structure and a strong focus on EBIT by increasing software sales rather than revenue growth.
The first half of the 2023/24 business year was impacted by inventory reductions at key customers due to rising interest rates and year-end closings. Sales ended at EUR 23.0 million and negative EBIT of EUR 3.2 million in line with expected full-year sales projections of EUR 54.0 - EUR 56.0 million and EBIT of around EUR 0.3 - EUR 1.0 million following cost reductions in 2022/23 and 2023/24.
EBIT of around €4.0 million is expected in the 2024/25 business year based on sales projections of €60.0 million, mainly impacted by further development of software sales. In the 2026/27 financial year, it is expected to achieve an EBIT of around €7.5 million on sales of around €69.0 million, corresponding to an EBIT margin of around 11% as a result of a strategic approach tailored to software development and sales.
