In this Research Note, we examine the Mobotix video security business, based on their FY 2023 results, year ending 30 September 2023, Annual Report, FY 2024 outlook, May 2024 AGM Presentation, and our analysis of company strategy and position in the highly competitive video surveillance market. Mobotix 2022/2023 Financial Highlights Founded in 1999 and based in Winnweiler-Langmeil, Germany, Mobotix AG is a specialist manufacturer of IP network video cameras with over 300 full-time employees. The company is listed on the Frankfurt Stock Exchange and is a subsidiary of Konica Minolta, Inc., Tokyo, Japan, which has been a strategic investor since 2016. The financial results of operations in the 2022/23 financial year again did not fully meet the expectations of the Executive Board and Supervisory Board. Mobotix closed the financial year, ending 30th September 2023 with sales of €63.2 million, a 12.9% increase compared to the previous year, but the target revenue of €64.0 to €66.0 […]
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