Medistim — Earnings Release 2023

Feb 29, 2024

FOURTH QUARTER AND PRELIMINARY FINANCIAL RESULTS FOR 2023 FOR MEDISTIM ASA

FOURTH QUARTER AND PRELIMINARY FINANCIAL RESULTS FOR 2023 FOR MEDISTIM ASA

Sales ended at MNOK 135.6, 4.4 % below our all-time high Q4 last year (MNOK 141.8). Full year sales revenue is a new record at MNOK 526.4 (MNOK 491.9), up 7.0 %.

Currency neutral sales of own products was down 17.4 % for the quarter and down 5.1 % for the year.

Recurring sales remain high at 69 % (67 %) for the year, underscoring the sustained momentum in utilization among our customers.

Operating profit (EBIT) for the quarter ended at MNOK 22.3 giving a 16.4 % EBIT margin (MNOK 36.5, a 25.7 % margin). For the full year, EBIT ended at MNOK 131.4, giving a 25.0 % margin (MNOK 141.3, a 28.7 % margin).

In 2023, our largest market, USA, experienced a decrease in capital sales, but rising probe sales indicate a growing utilization.

Solid cash position of MNOK 153.9 at year end and no long-term interest-bearing debt.

With a firm belief in further growth, the Board proposes to the General Assembly a dividend of NOK 4.50 (NOK 4.50) per share