Detection Technology publishes key financial figures of the new business structure for 2020

Detection Technology Plc company announcement 25 March 2021 at 09:00 (EET)

Detection Technology publishes key financial figures of the new business structure for 2020

Detection Technology has published the quarterly and annual financial comparison figures for 2020 for its new business and reporting structure today. The unaudited net sales for the Security Business Unit and Industrial Solutions Business Unit are presented in the table below. The figures for the net sales of the Medical Business Unit and the Group have been audited and are as reported earlier.

The company will change the net sales reporting method used in its financial reporting to match the new business structure as of Q1 of 2021. Detection Technology does not provide any other financial information for each business unit, and therefore other financial reporting by the company will remain unchanged.
 

Net sales by business unit (EUR 1,000)

Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020
Security Business Unit (SBU) 9,354 7,790 7,439 6,129 30,712
Industrial Solutions Business Unit (IBU) 2,184 3,444 3,137 2,831 11,596
Medical Business Unit (MBU) 8,379 9,874 10,052 10,949 39,253
Group total 19,917 21,108 20,628 19,909 81,561

 

Detection Technology implemented the new business and reporting structure on 1 January 2021. The company’s Security and Industrial Business Unit (SBU) was divided into two separate business units. The new business units are called the Security Business Unit (SBU) and the Industrial Solutions Business Unit (IBU). The company’s Medical Business Unit (MBU) remained unchanged.

The new organizational structure will enhance the recognition of weak market signals and customer needs as well as building a more market-oriented offering. The SBU focuses on security application sales whereas the IBU champions the industrial segment, in addition to which it will introduce higher-end detector solutions in which software and algorithms play a more significant role to the market. According to its “Beyond hardware” principle, the company is looking for opportunities to commercialize not only hardware but software and services, too.
 

Further information
Hannu Martola, President and CEO
+358 500 449 475, hannu.martola@nulldeetee.com

Nordea is the company’s Certified Advisor under the Nasdaq First North GM rules.

Detection Technology is a global provider of X-ray detector solutions for medical, security, and industrial applications. The company’s solutions range from photodiodes to optimized detector subsystems with ASICs, electronics, mechanics, software, and algorithms. It has sites in Finland, China, France, and the US. The company’s shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol DETEC.

Distribution: Nasdaq Helsinki, key media, www.deetee.com