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Medistim

Earnings Release • Apr 29, 2020

3662_rns_2020-04-29_0588689e-6b94-4c9d-a79b-cee5531ed5b2.html

Earnings Release

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First quarter result for 2020 for Medistim ASA

Sales for the quarter ended at a record high MNOK 103.1 (MNOK 88.7), a 16.2% increase. The growth was driven by strong growth in capital sales of systems in Japan after regulatory approval of MiraQ. Currency-neutral sales of own products increased by 15.2%. Operating profit (EBIT) ended at MNOK 24.8 (MNOK 19.9), a 24.3% increase, which is the best first quarter result ever recorded. Medistim had MNOK 85 in cash by the end of the quarter. The General Meeting decided to give the Board authorization to pay a dividend up to NOK 2.75 per share. The authorization is valid until the next General Meeting in 2021. The COVID-19 pandemic did not significantly affect Medistim in Q1.