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Medistim

Earnings Release • Apr 25, 2024

3662_rns_2024-04-25_eef64ccf-f84f-4f09-b70a-acbe4639f49c.html

Earnings Release

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First quarter 2024 results and financials for Medistim ASA

Sales ended at MNOK 133.8, 3.5% above first quarter last year (MNOK 129.3). Currency neutral sales of own products was down 1%. Recurring sales remain high at 75% or MNOK 83.5 (68% or MNOK 73.8) for the quarter. Strong quarter for the direct sales operations in Europe and EMEA delivers 32% currency neutral growth while growth in AMERICAS and APAC was influenced by strong comparables from Q1 last year. Operating profit (EBIT) for the quarter ended at MNOK 32.1 giving a 24.0% EBIT margin (MNOK 33.5, a 25.9% margin). 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 170.3 and no long-term interest-bearing debt. The General Assembly decided a dividend of NOK 4.50 (NOK 4.50) per share, a total of MNOK 82.4.