Surgical Science Sweden Ab · OMXSTO:SUS

Surgical Science Sweden Ab — Q3 2023 Earnings Presentation

11 slides from Surgical Science Sweden Ab's earnings presentation, Nov 9, 2023

  1. Slide 1: Presentation of Q3 2023 report

    Surgical Science Presentation of Q3 2023 report November 9, 2023 ©2023 Surgical Science. | All Rights Reserved.

  2. Slide 2: CEO comments – Israel

    CEO comments – Israel  We are ok but not ok  Business as usual - Office open - Simulators shipped by air - The one company feeling - People are traveling  Normality in abnormal times  Minor economic impact - Absence due to military service Surgical Science’s assembly and quality control departme

  3. Slide 3: CEO comments – Q3

    CEO comments – Q3 LicenseRevenues License Revenue 250 000 (SEK thousands)  Decrease of simulator sales in Edu Products (12%) 200 000 - Large US hospital chain revenue in Q3/-22 of SEK m 40 63 141 55 528 150 000 - China continued sluggish compared to Q3/-22 75 710 100 000 40 352 - Total decrease SEK

  4. Slide 4: Q3: Tough comparison Q Edu, license rev's up Indu

    Q3: Tough comparison Q Edu, license rev’s up Indu SEKm Q3: 250  Net sales was up 3% - SEKm 210.2 (205.1). In local currencies +1%. 200 38% 38%  Educational Products’ sales was down 33% 41% 150 36% 40% 9%. Excl. US order to main hospital chain 39% in 2022, sales was up 28%. China weak, total of all

  5. Slide 5: Revenue streams – increase for all except simulators qoq

    REVENUE STREAMS – increase for all except simulators qoq SEKm 250 3%  License rev’s: SEKm 55.5 (40.4). 2% 2% 6% Lumpy for new entrants, revenues 200 6% 5% 25% from several customers. 31% 8% 20% 8% 35% 26%  Simulator sales on a par for Indu. 150 24% 8% 8% 10% Edu down due to tough comparison 22% 10

  6. Slide 6: Costs and margin Q3 2023

    COSTS AND MARGIN Q3 2023  Gross margin 69% (67). Increased share of license revenues (26 vs 20%) had a positive effect. Vs Q2: product mix favorable and ASP Operating margin 24% (21) higher, good dev projects.  Sales: costs in line with Q2. Costs of goods sold 31% (33) Research and development cos

  7. Slide 7: Organization 60+ markets covered

    ORGANIZATION No of employees at end of period: 260 (233) Men 186 (172) Women 74 (61) Israel 134 (117) Sweden 57 (55) 60+ markets covered USA 54 (48) Other 15 (13) * Offices / Development sites * Other: China, Germany, France, Poland, Great Britain, Greece, Canada and Costa Rica. ©2023 Surgical Scien

  8. Slide 8: Adjusted EBIT

    ADJUSTED EBIT SEKm 250 50% Q3: 45%  Adjusted EBIT SEKm 200 40% 56.9 (48.8), margin 35% 27% (24). 150 30% 25% YTD: 100 20% 15%  Adjusted EBIT SEKm 50 10% 169.8 (118.7), 5% margin 26% (21). 0 0% Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2022 2023 Adjustments for Net sales Adjusted EBIT Adjusted EBIT % acquisition

  9. Slide 9: Finance net and taxes

    FINANCE NET AND TAXES  Finance net for the quarter SEKm 1.7 (-9.0). Interest on bank balances, revaluation of internal loan receivables/liabilities towards subsidiaries, IFRS16 effect and revaluation of remaining contingent consideration on Mimic acquisition.  Taxes affected by NOL carryforwards i

  10. Slide 10: Cash flow – A/R continued to decrease

    CASH FLOW – A/R continued to decrease SEKm 600 50%  Cash flow from operating activities 45% SEKm 53.1 (9.5). Change in working 500 40% capital SEKm -15.0 (-41.2). Inventory and A/R decreased, short-term 400 35% liabilities also decreased. 30%  Cash flow from investing activities 300 25% mainly inv

  11. Slide 11: Thank you

    Thank you Find out more at: www.surgicalscience.com Gisli Hennermark, CEO gisli.hennermark@surgicalscience.com Anna Ahlberg, CFO anna.ahlberg@surgicalscience.com

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