Tobii reported operating profit of SEK 9.3 million for the first quarter of 2021.
Analysts projected an operating profit of -2.3 million SEK, according to Infront’s compilation of three estimates.
Net sales were 339 million SEK, compared to the projected 382 million SEK. Organic growth was 1 percent.
CEO Henrik Eskilsson wrote in the report that business activity continued to increase in all three business lines during the first quarter. However, the negative impact on sales from the pandemic remains “significant,” and Toby Dinavox has also been negatively affected by disruptions in the subcontracting chain, he wrote.
He will divide the company
Tobii prepares a Tobii Dynavox dividend for the company’s shareholders. Plans for the occasional unit to be listed on the stock exchange.
Toby’s board believes that “the division has the potential to accelerate the long-term growth and success of both companies, thus creating significant shareholder value,” reads Motivation.
Anand Srivatsa (Tech + Pro) and Fredrik Ruben (Dynavox) are CEOs of two independent companies.
“Tobii CEO Henrik Eskilsson hereby declares that if the proposed subsidiary offer is implemented, he intends to hand over the Tobii CEO role,” he states.
Henrik Eskilsson will, however, continue to work in-house and say he will be “deeply involved and contribute to their continued success”.
The plan is to distribute and list Tobii Dynavox during the fourth quarter of 2021.
Tobii writes that the three business areas within the group “matured side by side” and that they are today independent operations. The synergies between Tobii Dynavox and the other two business areas were described as ‘limited’.
“We believe that the time has now come to create two separate listed companies, which will enable greater focus on each business and make companies more accurate in anticipating and meeting the needs of their customers. I am glad that we have now reached a point where we are ready to take this step,” says the current CEO of the company. Toby, Henrik Eskilson.
Toby Dinavox is active in communication.
Last year, Tobii Dynavox had revenue of 894 million SEK, and the operating margin for the unit was 14 percent.
Tobii Pro and Tobii Tech are active in eye tracking solutions for a wide variety of industries and applications.
Toby wrote: “On a formality basis, these two companies together achieved an average organic revenue growth of 21 percent annually over the years 2014-2019.”
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