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IndigoVision Group plc Presentation of 2002 1 st Half Results Oliver Vellacott – CEO Alan Bennie – CFO.

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Presentation on theme: "IndigoVision Group plc Presentation of 2002 1 st Half Results Oliver Vellacott – CEO Alan Bennie – CFO."— Presentation transcript:

1 IndigoVision Group plc Presentation of st Half Results Oliver Vellacott – CEO Alan Bennie – CFO

2 IndigoVision proprietary data p2 IV 1H02 results - rev 1.4 – 14 March, 2002 First half progress Turnover up 50% on 1H01 to £1.1m 1 new licensee and 3 repeat licensees Gross profit up from 57% to 67% Monthly cash burn reduced from £800k to £700k Cash balances of £27.8m Broadened channel reach outside CCTV

3 IndigoVision proprietary data p3 IV 1H02 results - rev 1.4 – 14 March, 2002 H1 operational highlights New licensee: Spawar 3 repeat licensees: Baxall, Cirrus and Ultrak Licensee unit shipments overtook our own in Q2 Strategic alliance with StorageTek 3 major product launches Additional airport implementation: Schipol

4 IndigoVision proprietary data p4 IV 1H02 results - rev 1.4 – 14 March, 2002 Consolidated Profit & Loss Account

5 IndigoVision proprietary data p5 IV 1H02 results - rev 1.4 – 14 March, 2002 Revenue (£000) In Q2 02: Revenue doubled on Q1 Strong contribution across all business areas - £0.25m in license revenues - Highest platform revenues - Highest royalty revenues

6 IndigoVision proprietary data p6 IV 1H02 results - rev 1.4 – 14 March, 2002 Revenue (£000) In the half year: Record half year revenue 54% increase over 1H 01

7 IndigoVision proprietary data p7 IV 1H02 results - rev 1.4 – 14 March, 2002 Revenue by geography (£000) North America revenue increased by 127% over 1H 01 - strong growth in Q2 Tokyo office staffed from Q Asia revenue now includes significant platform sales

8 IndigoVision proprietary data p8 IV 1H02 results - rev 1.4 – 14 March, 2002 Revenue by source £000 1H 02 Licence and related revenues = £0.6M + 100% on 1H 01 1H 02 Licence/platform revenue split = 60/40 (1H 01 = 46/54)

9 IndigoVision proprietary data p9 IV 1H02 results - rev 1.4 – 14 March, 2002 Platform shipments + licensed product Baxall and Ultrak now generating royalties Panasonic royalties in 2 nd half 2002

10 IndigoVision proprietary data p10 IV 1H02 results - rev 1.4 – 14 March, 2002 Consolidated Profit & Loss Account

11 IndigoVision proprietary data p11 IV 1H02 results - rev 1.4 – 14 March, 2002 Gross profit Gross profit percentage up a further 10 points to 67% Improvement generated from: - further cost reduction in product designs - proportionate growth in licence and related revenue

12 IndigoVision proprietary data p12 IV 1H02 results - rev 1.4 – 14 March, 2002 Consolidated Profit & Loss Account

13 IndigoVision proprietary data p13 IV 1H02 results - rev 1.4 – 14 March, 2002 Research & development R&D spend £1.6M, up 75% on 1H 01 Headcount now 61 Further additions subject to roadmap justification

14 IndigoVision proprietary data p14 IV 1H02 results - rev 1.4 – 14 March, 2002 Consolidated Profit & Loss Account

15 IndigoVision proprietary data p15 IV 1H02 results - rev 1.4 – 14 March, 2002 Other overhead Spend £4.1M, up 37% on 1H 01 Sales & marketing & field engineers headcount now 36 - additions in US and EU - Tokyo additions planned in Q3 Investment in CRM system - essential to manage partner programme

16 IndigoVision proprietary data p16 IV 1H02 results - rev 1.4 – 14 March, 2002 Employees Headcount up from 98 to 114 Contract engineering staff reduced

17 IndigoVision proprietary data p17 IV 1H02 results - rev 1.4 – 14 March, 2002 Consolidated Balance Sheet

18 IndigoVision proprietary data p18 IV 1H02 results - rev 1.4 – 14 March, 2002 Current assets Stocks up to £0.6M => 3.3 months forward demand Debtors up to £1.3M => Trade debtors 88 days Cash £27.8M Cash burn reduced to £0.7M per month

19 IndigoVision proprietary data p19 IV 1H02 results - rev 1.4 – 14 March, 2002 Live Networked Video (LNV) solutions CAMERA IP NETWORK STORAGE IP NETWORK APPLICATION

20 IndigoVision proprietary data p20 IV 1H02 results - rev 1.4 – 14 March, 2002 Our marketing strategy PUSH PULL CHANNEL TECHNOLOGY

21 IndigoVision proprietary data p21 IV 1H02 results - rev 1.4 – 14 March, 2002 Push design licenses at OEMs NVR-SDK VBDK IP CAMERA MAINSTREAM Strategy is to win CCTV OEMs first Use Mainstream to win camera OEMs PUSH

22 IndigoVision proprietary data p22 IV 1H02 results - rev 1.4 – 14 March, 2002 Push enabling products at channel NVR CONTROL CENTRE IP CAMERA VB6000 PUSH Strategy is to win channel adoption Will move to pure OEM licensing ultimately

23 IndigoVision proprietary data p23 IV 1H02 results - rev 1.4 – 14 March, 2002 Releases: Digital IP camera available as product & design license

24 IndigoVision proprietary data p24 IV 1H02 results - rev 1.4 – 14 March, 2002 Releases: Web server Live Networked Video on web pages

25 IndigoVision proprietary data p25 IV 1H02 results - rev 1.4 – 14 March, 2002 Releases: Control Centre available as product & design license

26 IndigoVision proprietary data p26 IV 1H02 results - rev 1.4 – 14 March, 2002 Enable channel pull CCTV CHANNELNETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL PULL Partner Programme provides training, consultancy, major-bid support, connection to OEM licensees, technical support

27 IndigoVision proprietary data p27 IV 1H02 results - rev 1.4 – 14 March, 2002 We need to work across whole market to establish it as a standard CAMERARECORDERAPPLICATION CHIP CCTV CHANNELNETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL

28 IndigoVision proprietary data p28 IV 1H02 results - rev 1.4 – 14 March, 2002 Hence…key deals this half CIRRUS x11 PARTNERS CCTV CHANNELNETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL MILESTONE STORAGETEK SPAWAR

29 IndigoVision proprietary data p29 IV 1H02 results - rev 1.4 – 14 March, 2002 Key deals: Spawar US Space & Warfare Systems Command agency IndigoVision video in Spawar robots at Ground Zero License to manufacture IndigoVision-powered cameras Spawar will mandate relicense into defence applications Key supplier to US DoD CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL MILESTONE SPAWAR CIRRUS

30 IndigoVision proprietary data p30 IV 1H02 results - rev 1.4 – 14 March, 2002 Key deals: Cirrus Logic Agreement to design ASIC based on Mainstream –Further license fee –Royalty per chip –July 2002 tape-out Targeting networked video market, US & Asia Other consumer video applications CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL MILESTONESPAWAR CIRRUS

31 IndigoVision proprietary data p31 IV 1H02 results - rev 1.4 – 14 March, 2002 Key deals: Milestone Danish-based developer of Windows apps World market leader in security & access control apps Milestone channel for IndigoVision-enabled products Milestone adds support for IndigoVision to its apps IndigoVision channel gets Milestone apps CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL MILESTONE SPAWAR CIRRUS

32 IndigoVision proprietary data p32 IV 1H02 results - rev 1.4 – 14 March, CCTV joiners to partner programme Channel partnersGeography Sensormatic (Pty) Limited Richardson Electronics Limited SmartTelecom Comunicacion SL KM Group, Inc Revenga Ingenieros SA Intruder International plc System Automation and Controls srl Computer Network Ltd e-Vision Technologies Inc Milestone a/s C-Ways Limited South Africa EU Spain Canada Spain UK Italy UK US Scandinavia UK CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL

33 IndigoVision proprietary data p33 IV 1H02 results - rev 1.4 – 14 March, 2002 StorageTek strategic alliance 4 StorageTek VARs promoting IndigoVision products 15/20 sales offices per VAR across North America 160 sales personnel Worldwide, but in North America alone: CCTV CHANNEL NETWORK CHANNEL STORAGE CHANNEL IT APPLICATION CHANNEL

34 IndigoVision proprietary data p34 IV 1H02 results - rev 1.4 – 14 March, 2002 Addressable market CCTVAll apps ApplicationsAnalog today Digital today Digital future Cameras p.a.5m50k50m500m Revenue per camera n/a$100$25$12.5 Addressable market n/a$5m$1.25b$6.25b

35 IndigoVision proprietary data p35 IV 1H02 results - rev 1.4 – 14 March, 2002 Outlook License funnel strong –Get CCTV OEMs first –Get camera OEMs using Mainstream Channel pull increasing –Control Centre complete application for security –Channel can deploy without waiting for 3 rd party apps –Access non-CCTV channels thru alliances

36 IndigoVision proprietary data p36 IV 1H02 results - rev 1.4 – 14 March, 2002 Summary New & repeat licensing improving Significant gross margin improvement Technology lead extended by Mainstream Channel reach extending beyond security Strong balance sheet Careful cost management Positive outlook


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