Information concerning possible effects of Covid-19 (coronavirus) on INVISIO’s operations
INVISIO is currently experiencing few negative effects of Covid-19 and the company’s assessment is that the effect on operations in the short term is limited, but that delays in order intake and deliveries of course cannot be ruled out if the epidemic is lengthy. The Board’s proposed dividend remains the same.
INVISIO is monitoring the course of Covid-19 carefully, as well as complying with rules and recommendations issued by the authorities. The majority of the Group’s employees are working from home or in accordance with the authorities’ recommendations in each individual country where INVISIO operates. All essential functions and activities within the company are continuing as usual. INVISIO has a strong financial position and has no plans to cut back operations.
INVISIO sees no significant negative effects on order intake
The company is in close contact with its customers in both the USA and Europe. Currently INVISIO is not experiencing any significant negative effects on order intake. If the epidemic is lengthy, delays in customer projects and order intake can of course not be ruled out.
INVISIO’s operations have an unevenly distributed order inflow and sales
INVISIO’s market is characterized by large procurements at irregular intervals. Lead times are often long due to extensive administrative processes and customer tests, both in laboratories and among end users. This means that the order intake and sales in individual quarters, even in normal times, may vary and have an effect on the full year figures.
All manufacturing partners’ production is continuing
INVISIO carries out continual checks with the company’s manufacturing partners. The company’s important contract manufacturing partners, which are based in Europe, all have ongoing production. Deferred deliveries of components and finished products cannot of course be ruled out if measures taken to limit the epidemic are prolonged. INVISIO holds a stable security inventory for both components and finished products.
The Board’s proposed dividend remains the same
The Board of Directors proposes to the Annual General Meeting, as previously announced, that a dividend of SEK 0.85 per share be distributed for 2019 (0.70).
For further information, please contact:
Lars Højgård Hansen, President and CEO, INVISIO Communications
Mobile: + 45 5372 7722 | E-mail: lhh@invisio.com
Michael Peterson, Director Investor Relations & Corporate Communication, INVISIO Communications
Mobile: + 45 5372 7733 | Email: mpn@invisio.com
About INVISIO Communications AB (publ)
INVISIO develops and sells advanced communication systems that enable professionals in noisy and mission critical environments to communicate, protect their hearing and work effectively. The company combines specialist knowledge in acoustics and hearing with broad engineering know-how in software, materials technology and integration. Sales are via the headquarters in Copenhagen and sales offices in the USA, France and Italy and via a global network of partners. INVISIO’s registered office is in Stockholm, Sweden and the company is listed on Nasdaq Stockholm (IVSO). Additional information is available on the company's website www.invisio.com.