Half-yearly report January–June 2021

Prior to the outbreak of the COVID-19 pandemic, industry experts estimated that the global market in medical X-ray imaging equipment would grow at an average rate of about 5% per annum, the security segment by 6% and the industrial sector by about 5%. In Detection Technology’s view, the medical and industrial markets are growing in line with the estimates by the experts. The market disturbance caused by the pandemic in the security market is passing, and the segment will slowly head towards growth in H2 2021.

Detection Technology expects double-digit growth in its total net sales in Q3 and H2 2021. The company anticipates growing demand in medical CT applications, and MBU sales to grow double-digit in Q3 and stronger in H2 than in H1. Double-digit growth is expected in IBU sales in Q3 and H2. SBU sales are estimated to turn for growth in Q3 and experience double-digit growth in H2, but there is some uncertainty in the demand.

Due to the pandemic, the global economy and the company’s business have faced exceptional and temporary uncertainty, in particular in the security market. The predictability of the company’s target markets is still lower than usual, and risks related to the availability of materials have increased.

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.

Financial Targets

MEDIUM TERM TARGET

Annual
sales growth

>10%

MEDIUM TERM TARGET

Operating
margin

15%

ANNUAL

Dividend or
returned capital

3060%

Market Outlook

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MEDICAL MARKET

Annual
Growth Rate

5%

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SECURITY MARKET

Annual
Growth Rate

6%

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INDUSTRIAL MARKET

Annual
Growth Rate

5%