INVISIO (IVSO) ABGSC Investor Days summary

Business overview and market positioning

• Focuses on communication and hearing protection for users in hostile environments, including police, military, and firefighters.

• Headquarters in Copenhagen, with development in London and significant sales presence in the US, France, Italy, and Thailand.

• 85%-90% of revenue comes from military clients, with law enforcement also a key segment.

• Operates a scalable model: develops and sells products, with manufacturing outsourced to leading European partners.

• 75%-80% of sales are through long-term contracts, supporting stable growth.

Product portfolio and innovation

• Three main product categories: personal systems, vehicle-targeted headsets, and intercom systems.

• Intercom system allows seamless communication for users moving between environments and is expected to surpass personal systems in revenue.

• Recent expansion includes new add-on products and Wi-Fi functionality, creating a plug-and-play ecosystem.

• Products are interoperable across generations and brands, enhancing user flexibility.

• Heavy investment in R&D, with 15% of revenue allocated, resulting in market-leading innovations.

Market dynamics and growth drivers

• Niche market with high entry barriers and slow, volatile procurement cycles.

• Deep customer relationships, with contracts often lasting over a decade.

• Structural growth driven by digitalization, modernization of military radios, and increased awareness of hearing protection.

• Legal and environmental pressures are increasing demand for advanced hearing protection.

• Rising military spending in Europe is expected to drive further growth over the next 10-15 years.