Medistim — Earnings Release 2021

Aug 13, 2021

Second quarter and first half financials 2021 for Medistim ASA

Second quarter and first half financials 2021 for Medistim ASA

Total revenues for the quarter ended at MNOK 109.8 (MNOK 82.5) and includes MNOK 5.3 granted by the U.S. Paycheck Protection Program related to COVID-19. Total revenues for the first half ended at MNOK 212.4 (185.6).

Sales revenues for the quarter ended at MNOK 104.5 (MNOK 82.5), an increase of 26.7%. This is a new record for sales in any quarter. Currency neutral growth in sales of own products was 40.2%. Sales revenues for the first half ended at MNOK 207.1 (MNOK 185.6), an 11.6% increase.

Operating profit (EBIT) for the quarter ended at MNOK 42.7 (MNOK 27.7), a 54.0% increase and by far the best EBIT for a quarter ever. Operating profit for the first half ended at MNOK 71.7 (MNOK 52.5), a 36.7% increase. This is the best operating profit for the first half ever.

High growth in number of procedures in the USA with 50% as well as consumable probe sales growth with 35%, reflect an increasing number of surgeries being performed and continuing recovery from the COVID pandemic.

Medistim added the Pay Per Procedure (PPP) business model to the MiraQ™ system generation to U.S. customers in the second quarter.

A dividend of NOK 3.00 per share, a total of MNOK 54.6, was paid in the second quarter.