Medistim

Earnings Release • Aug 16, 2024

SECOND QUARTER AND FIRST HALF 2024 FINANCIAL RESULTS FOR MEDISTIM ASA

SECOND QUARTER AND FIRST HALF 2024 FINANCIAL RESULTS FOR MEDISTIM ASA

Total sales ended at MNOK 144.9, 5.5% above second quarter last year (MNOK 137.4). This is a new record for a quarter. For the first half, sales ended at MNOK 278.7, 4.5% above last year (MNOK 266.6). Currency neutral sales of own products was up 1.7% for the quarter and 1.5% for the first half. Recurring sales remain high at 73% (72%) for the quarter and 74% (71%) for the first half, underscoring the sustained momentum in utilization among our customers.

Strong first half for the direct sales operations in EMEA delivers 17.3% currency neutral growth, while AMERICAS and APAC performances are influenced by strong comparable from last year, with a currency neutral growth of 1.4% for AMERICAS and a currency neutral decline of 23% for APAC.

Operating profit (EBIT) for the quarter ended at MNOK 41.3 giving a 28.5% EBIT margin (MNOK 42.2, a 30.7% margin). Similar for the first half was an operating profit of MNOK 73,3 (MNOK 75.7) giving a 26.3% EBIT margin (28.4%).

Third-party sales increased 17.7% for the quarter and 12.8% for the first half. Medistim’s third-party distribution business signed a contract with the cardiovascular company Peters Surgical, to distribute their products in Sweden and Norway.

Solid cash position at quarter end with MNOK 107.1 and no long term interest-bearing debt.

A dividend of NOK 4.50 (NOK4.50) per share, a total of MNOK 82.4 was paid the 6th of May.