Medistim

Earnings Release • Aug 14, 2020

Presentation of second quarter and 1st half results 2020 for Medistim ASA

Presentation of second quarter and 1st half results 2020 for Medistim ASA

Sales for the quarter ended at MNOK 82.5 (MNOK 93.8), a decrease of 12.2%. Sales for the 1st half ended at MNOK 185.6 (MNOK 182.5), a 1.7 % increase. Currency neutral sales of own products was down 20.3% for the quarter, driven by the COVID-19 pandemic, particularly in the U.S. Operating result (EBIT) for the quarter ended at MNOK 27.7 (MNOK 30.9) a 10.3% decrease. Operating result for the 1st half ended at MNOK 52.5 (MNOK 50.8), an 3.3% increase. This is the best operating result for the first half ever. Medistim increased its cash position since year end with MNOK 35.8. Cash by the end of the quarter was MNOK 102.5. Payment of dividend will be evaluated at the October board meeting. So far, Medistim’s internal operations and employees have not been affected by the COVID 19. The CIDAC study was published and supports the use of Medistim’s equipment to improve outcomes during Carotid Endarterectomy procedures.