HID Sales, Growth, Profits, And Backlog Analyzed

*** ** *** ******* ******** ** access ******* ******* *** *********** (*** **********) ************** **** *********, ***** ******* **** ********.

*** *** **** ******** ***** *******? Where ** *** ******* ***? *** how ********** ** ***? ** ******* Assa's (***'* ******) **********, ********* ***** questions.

Executive *******

***'* ****** ******* ** ************* $*.* billion, **** * ********* ~*% ******* annual ****** ****. *** **** ********** part ** ***'* ********, ** ***, is *** ******** ****** ******* (****) segment (* ** * ****** ***), which ** ******** ** **** **%+ operating *******. *******, ** ******** **** PACs ******* ** ** */*** ** 1/2 ** ******* *** ******* ** in *** ***** ** $*** ** $750 *******.

*** ******** *** ******* "****", *** Assa, ***** ******** ** *********** ******* and ****** ******* ** ****, **** corresponding ******** ****** ** **** ** 2023, ***** ** ****, **** *** PACS ******* ******** *************, ******** ** the ******** **** **** *** ******* now ***** ****** ***.

Q4 ****** *******

**** ********* **** ***** ** *** Global ************ ******** (***** *** ******** for **%) ******** ******* ** *** backlog ****** ** *** **** ********* Q4 ****:

*** ***** *% ** ****** ********* by ****** ************’ ***. *** **** that **** ****, **** *******, ** were ********** ** *** ******* **** we ***** ** ******* ** *** electronic ********* *********, ***that ******* ** **** in Q4 last year. Therefore, we had a more important ******** ****** *** *** **** business in HID [emphasis added]

*** ******* ***** ***** **** ************ Q4 ****'* "*********** ***** ******* ** Physical ****** *******" ****** **** ** not ******** *** ******** *******:

***** *******, **** *** ********** "*** single-digit ****** ******":

**** ** **** **, * ***** call **, * ****** ****** ******* in *** ***** ******************** *** **** ******* ****mid ******-***** ****** ******. And I believe once the disturbances in the comparison with the backlog are over, that should be a good ****** for our PACS business in HID. [emphasis added]

***** ***'* ******** ****** ******** ** PACS, ****** ** ***********. * *** factor **** ** ** *** *** will ** ******** ** *********** **** as********, *** ****** ** * ******** PE ********** ********* ** ******* *** *******.

$1.5 ******* *** ***

***'* ******* ****** ******* ** ************* $1.5 *******. ** ** **** ** one ** **** ********* ***** *** the *******, ****** "****** ************," ***** is ~**% ** ****'* ***** ******* (~$13 ** ~** ******* ***) ** ~$2.1 *******, **** **** ********** ****:

** ****** ************ ****** **% ** HID ****** **% ** ****** *********.

***** *** ** **** ***** *** its ******** ****** ******* *********, ** offers **** ***** "*********":

** ******** *** **** ******** ** be ******* **% ** *** *******, with ******* ** *** ***** ** ~$700 (***** *** ********** ** *** PACs ******* *** ** *** ******* and ******* ************, *.*.,*** ******** * ****** **** ******* company** ** ****, ** ****** ** more *****).

PACS ******* **** *********

*** ***** **** ********** ** ****, even **** ***, **** ** * key, **************** ****** ** ******* *** the *******.

*** *******, **** ****, **** ********:

*** **** ******** ** **** ********* from * ****** *********** ** ****** Solutions

*** ********* **** **** ********:

** **** **** ** **** ****** margins ** **** **** ** *** other ********** ** **** ********

**** ** **** ******** ************ ** how *** **** ******* (*** **** of *** **** ** "****** ************") significantly ******** ******* *** *** ****** division. *****, *** *** *** ****** show *** ****** ********'* ********* ****** margin ******** ******** ********** ****** **** the *** **** ******* ******* *** when *** ******* *****:

**** *** ********* ******** *** ** 2022's *********** ******* ******* ** **** ~$30 ******* (*** * ~$*** ******* quarterly ********), ******* **** ********* ****** ~3 ********** ****** (**** ~**% ** 13%):

** **** **** ***** ****** **** for *** ******** ***** ** *** with *** ********* ******, ******** ****** *******, ***** ************ ********* ** ********** ********** *** where ** ******** ***negative ****** ** *** **** to be in the quarter around SEK300 ******* [~$30 million USD].

** ****, ** ******** *** **** operating ****** ** ** **% ***** that *** ******* ********'* ******* ********* margin ** ~**%, **** ********** ********** how **** ****** **** ****** ** and ** ******** ***** **** ******* is **** (**** **** *** ******** revenue ** **), *** ********'* ******* operating ****** ************* *******.

*******

** *** ******** ****, ** ******* another *** **** ******** **** ** unlikely ** *** **** ******, ** this *** * ******* ** * rare ****** ******, *** **********, *** has ******* * ****** **** *** problems **** *********** **** ****.

*******, *** ******* **** ****** *** underscore **** *** ********** *** ********* HID **** ******* *** ** *** broader ********, **** ** *** ***** of *** *** ** *** ******* far ****** *********** (*** **** ** just ~*% ** ****'* ******* ******* but *** ****** *** ********** *******).

*** *** ******** **** *** **** few *****, **** ******* *********** *** the ******* ************* ******** *****, **** be *** ** *****.