Medistim

Earnings Release • Oct 24, 2024

Third quarter 2024 results and financials for Medistim ASA

Third quarter 2024 results and financials for Medistim ASA

Sales ended at MNOK 132.8,7.0% above third quarter last year (MNOK 124.1). Year to date sales ended at MNOK 411.5, 5.3% above last year (MNOK 390.7).

Currency neutral sales of own products was up 3.4% for the quarter and 1.8% year to date.

Recurring sales remained high at 75.1% (64.7%) for the quarter and 73.7% (68.7%) year to date, reflecting the sustained momentum in utilization among our customers.

AMERICAS delivered a strong quarter with 17.3% currency neutral growth. EMEA showed strong performance in the direct markets with growth of 10.7%, but a decline of 36.7% in distributor markets. APAC was down 14.0% for the quarter, due to no sales to Japan.

Operating profit (EBIT) for the quarter ended at MNOK 31.9 giving a 24.0% EBIT margin (MNOK 33.5, a 27.0% margin). Year to date, the EBIT was at MNOK 105.2 (MNOK 109.2) giving a 25.6% EBIT margin (27.9%).

Third-party distributor sales in Scandinavia increased 17.0% for the quarter and 14.0% year to date.

Solid cash position at quarter end with MNOK 127.3 and no long term interest-bearing debt