Stille AB: Interim Report Q1 2021

2021-04-28 08:00:00

Revenues for the first quarter decreased slightly to 35.8 MSEK (36.8) and the operating profit to 4.0 (4.7) compared to previous year.

A minor reduction, however, with a strong quarter from Surgical Instruments in Sweden with revenues up 23%, CEO Hanna Ernestam Wilkman comments on what is the first interim report of Stille's 180th year in business.
The decrease in revenues is instead attributed to the business area C-arm Tables, more specifically the product line Medstone, where some surgical tables did not reach the US in time before the quarter closed.

We are positive to see the demand for imagiQ gradually returning in our key markets, and the delayed Medstone tables should instead give a solid start in the second quarter, explains Hanna Ernestam Wilkman and concludes optimistically. We have an exciting future ahead of us with several product launches later this year, and we are expecting to resume the strong organic growth we have had as the effects of this pandemic weakens.

Solid Start Despite the Third Wave of the Pandemic 
  • Revenues amounted to 35.8 MSEK (36.8). 
  • Gross margin amounted to till 41.9 percent (39.8). 
  • Operating profit amounted to 4.0 MSEK (4.7), equal to an operating margin of 11.1 percent (12.9).
  • Net income amounted to 4.0 MSEK (4.4), equal to 11.2 percent (11.9).
  • Cashflow from current operations amounted to 0.9 MSEK (0.5).

MSEK jan-mar jan-mar apr-mar jan-dec
2021 2020 2020/2021 2020
Revenue, MSEK 35.8 36.8 141.6 142.6
Operating Margin, % 11.1 12.9 9.7 10.2
Operating Profit 4.0 4.7 13.7 14.5
Profit Before Tax, MSEK 5.7 5.6 11.0 10.8
Net Income, MSEK 4.0 4.4 7.9 8.3
Earnings per Share, SEK 0.83 0.91 1.64 1.71

Torshälla, April 28th 2021