DT as an investment
We are the most trusted partner imaging the unknown by creating foresight capabilities quicker to discover and prevent threats. Our solutions contribute to the improvement of people’s health and safety daily.
We are a global provider of off-the-shelf and customized X-ray imaging solutions for medical, security and industrial applications. Our product portfolio ranges from photodiodes to complete detector systems with ASICs, electronics, mechanics, software, and algorithms.
Demand for high-quality detector solutions is increasing due to expansion of healthcare to a wider share of population in the emerging economies, aging population, growth in travelling and freight transport, urbanization, increased security concerns and increasing need for X-ray imaging applications in industrial inspection and recycling.
- Global mega trends driving the growth
- Well-positioned to grow faster than the market
- Strong financial position
- An asset-light business model enabling profitable growth
- The world’s widest linear detector portfolio
- Leader in the CT and line scan X-ray detector markets
- Positioning as a growth leader in digital X-ray detector solutions
Facts and figures
- Established in 1991
- Revenue 90 MEUR in 2021
- EBIT 12% of net sales in 2021
- Around 450 employees in Finland, China, France, and USA
- 370 active customers in over 40 countries
- Headquartered in Espoo, Finland
- Volume production in Beijing and Wuxi, China
- ISO 9001:2015, ISO 14001:2015 and ISO 13485:2016 certified operations
- Implements the Code of Conduct of the Responsible Business Alliance (RBA)
- Listed on Nasdaq First North Growth Market Finland under the ticker symbol DETEC
According to Detection Technology’s view, demand will continue to be strong in all of the company’s main markets. The company expects double-digit growth in total net sales both in Q3 and H2 of 2022, although the shortage of materials and components is expected to postpone at least some of the growth in H2.
Whilst the company is confident in the outlook for the remainder of 2022, the company’s businesses face uncertainty due to the war in Ukraine, the pandemic, the energy crisis, and inflation. In addition, direct and indirect risks related to the availability of materials remain elevated. The impacts of material and component shortage have been acknowledged as a limiting factor in the outlook, however a further degradation in supply chain might affect business outlook.
Detection Technology aims to increase sales by at least 10% per annum and to achieve an operating margin at or above 15% in the medium term.
boost investments in healthcare.
The growing importance of security
boosts public and private sector investments in security.
The eco economy
boosts X-ray demand as green products and service models become more common.
The circular economy
boosts X-ray demand as recycling and material sorting increase.
Digitalization and AI
boost X-ray usability as data utilization reaches a new level.
Quality and efficiency requirements
boost the use of X-rays in quality assurance of materials, components, and processes.
boost investments in healthcare and security as purchasing power increases with GDP growth.
boost healthcare investments in developed and emerging countries.
Lack of raw materials
boosts the use of X-rays in the exploitation of scarce discoveries.
Accessibility of imaging technology. Accessibility of X-ray imaging equipment and technology affects growth expectations. As volumes increase, the unit cost of equipment decreases, making X-ray imaging equipment an efficient tool to image an increasing number of objects. The decrease in cost subsequently increases the number of uses for the equipment in industrial applications and increases the overall use in medical and security objects.
Reduced radiation dosage. X-ray imaging technologies emit radiation and the current trend is to make dose as low as possible without weakening the quality of the image. Lower dose is also a driver to lower energy use and thus costs; lower dose imaging requires less energy, which accordingly lowers the total cost. Sophisticated and automated X-ray imaging equipment can process images with lower radiation dose.
Digitization of X-ray imaging in emerging markets. Digital X-ray imaging is more efficient as a digital X-ray machine can take more precise and sharper images, more pictures per hour and the cost per picture is lower (lower cost of throughput). Digital images are also immediately available, can be manipulated and the quality of the image may be enhanced, sent via networks to other workstations and can be archived in electronic archives. In addition, digital radiography needs a lower level of radiation than traditional analogue radiography, and no chemicals are needed.
X-rays used to image ever increasing number of objects.