Slide 1: Year End Report Jan – Dec 2024
sss YEAR YEAR END END REPORT REPORT JAN – DEC 2024 1
Slide 2: Strong Closing Quarter
STRONG CLOSING QUARTER SIGNIFICANT EVENTS DURING THE FOURTH QUARTER 2024 (OCT – DEC) • Mentice announced the recruitment of Frans Venker as new CEO, starting Jan 1, 2025. • The order intake during the quarter increased due to large orders received and announced: o A significant order from a top 20 g
Slide 3: Comments by the CEO Frans Venker
YEAR END REPORT JAN – DEC 2024 COMMENTS BY THE CEO FRANS VENKER We made progress on our strategic initiatives in Q4, including the launch of our next-generation Neurovascular (NV) simulation platform NV Connect and the VIST Ankyras integration. The Ankyras integration is critical for us to accelerat
Slide 4: Key Figures
YEAR END REPORT JAN – DEC 2024 KEY FIGURES Oct-Dec Oct-Dec Change Jan-Dec Jan-Dec Change 2024 2023 2024 2023 Order intake, MSEK 108.7 103.9 4.7% 278.9 304.2 -8.3% - whereof Medical Device Industry (MDI) 97.1 78.2 24.2% 224.2 240.2 -6.7% - whereof Healthcaresystems (HCS) 10.7 10.2 4.3% 47.2 43.1 9.3%
Slide 5: Financial Performance: Order Intake per Business Area
YEAR END REPORT JAN – DEC 2024 FINANCIAL PERFORMANCE ORDER INTAKE PER BUSINESS AREA Mentice operates in three different business areas. See the Annual Report 2023 for further descriptions of the Business Areas. Healthcare Systems (HCS) The HCS business area includes direct and indirect sales to Q4 O
Slide 6: Order Intake per Product Area
YEAR END REPORT JAN – DEC 2024 ORDER INTAKE PER PRODUCT AREA The Mentice product portfolio consists of four different product Ankyras® – decision support areas*, where Mentice VIST® accounts for the largest part of the Ankyras® helps doctors determine which size and location of company's turnover. T
Slide 7: Order Book
YEAR END REPORT JAN – DEC 2024 ORDER BOOK The order book at the end of the quarter decreased by -12% and The order book was previously divided by type of product and amounted to 138 (156) MSEK, where 96 MSEK is related to future service, but to have a better view of the business, the division is rev
Slide 8: Net Sales per Region and Quarter
YEAR END REPORT JAN – DEC 2024 NET SALES The group’s net sales consist of sales of systems and software, Mentice also reports sales figures for the three geographic service and support and sales from consultancy assignments markets: EMEA (Europe, Middle East and Africa), APAC (Asia and referred to as
Slide 9: Net Sales per Segment
YEAR END REPORT JAN – DEC 2024 NET SALES PER SEGMENT* Out of the net sales for the quarter 78 (65) MSEK came from The quarter showed a total increase of 22.4%. The full year product area Mentice VIST®. For the full year the segment showed a total increase of 6.1%. increased by 2.3%. * The segment re
Slide 10: Other Income, Gross Profit and Capitalized Expenses
YEAR END REPORT JAN – DEC 2024 OTHER INCOME Personnel costs include capitalized costs for development with 1.9 (0.4) MSEK for the quarter and with 10.0 (2.0) MSEK for the full Other income was 0.8 (-0.7) MSEK for the quarter. For the full year year. other income amounted to 1.5 (1.5) MSEK. This is c
Slide 11: Parent Company, Share Capital, Disputes
YEAR END REPORT JAN – DEC 2024 costs. The remaining 0.3 (2.9) MSEK refers to investments in Exchange rate risk is divided into translation exposure and tangible assets, mostly in hardware devices for internal use but transaction exposure. Translation exposure refers to the exposure also for rental.
Slide 12: The Share and Ownership
YEAR END REPORT JAN – DEC 2024 THE SHARE AND OWNERSHIP Mentice AB (publ.) shares are traded on Nasdaq First North Growth Market since June 18, 2019 under MNTC. According to Euroclear’s official register of shareholders, Mentice had a total of 1 608 shareholders by December 31, 2024. FNCA is the compan
Slide 13: Affirmation
YEAR END REPORT JAN – DEC 2024 AFFIRMATION Mentice AB (publ)’s Board of Directors and CEO hereby assure that this interim report gives a true and fair view of the Group’s business, financial position and performance and describes the essential risks and uncertainty factors that the company and the co
Slide 14: Consolidated Income Statement
YEAR END REPORT JAN – DEC 2024 CONSOLIDATED INCOME STATEMENT TSEK Oct-Dec 2024 Oct-Dec 2023 Full year 2024 Full year 2023 Net sales 86,216 70,434 290,329 273,610 Other income 824 -745 1,483 1,514 Operating income 87,040 69,690 291,811 275,124 Raw materials and consumables used -9,735 -9,378 -33,084
Slide 15: Consolidated Balance Sheet
YEAR END REPORT JAN – DEC 2024 CONSOLIDATED BALANCE SHEET TSEK 31 Dec 2024 31 Dec 2023 Assets Goodwill 48,508 48,508 Patents 24,648 28,253 Trademarks 2,419 3,628 Internally developed intangible assets 41,527 37,144 Tangible assets 8,637 11,566 Right-of-use assets 7,727 8,336 Deferred tax assets 5,42
Slide 16: Consolidated Statement of Changes in Equity
YEAR END REPORT JAN – DEC 2024 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY TSEK Share Capital Other Paid in Translation Retained Total equity Capital reserve Earnings At 1 January 2023 1,278 201,169 -370 -39,442 162,635 Transactions with owners in their capacity as owners Issue of shares 315 315 Red
Slide 17: Consolidated Statement of Cash Flows
YEAR END REPORT JAN – DEC 2024 CONSOLIDATED STATEMENT OF CASH FLOWS TSEK Oct-Dec Oct-Dec Full year Full year 2024 2023 2024 2023 Operating activities Earnings before tax 5,083 -2,455 -13,502 -13 Adjustment for Non-cash items 9,366 7,135 30,456 28,090 Income tax paid -1,722 -397 -4195 -632 Cash flow
Slide 18: Parent Company Income Statement
YEAR END REPORT JAN – DEC 2024 PARENT COMPANY INCOME STATEMENT TSEK Oct-Dec Oct-Dec Full year Full year 2024 2023 2024 2023 Net sales 67,729 52,951 200,639 187,166 Capitalised expense for development 2,656 451 12,344 2,385 Other income 11,451 5,656 17,308 13,011 Operating income 81,836 59,058 230,29
Slide 19: Parent Company Balance Sheet
YEAR END REPORT JAN – DEC 2024 PARENT COMPANY BALANCE SHEET TSEK 31 Dec 2024 31 Dec 2023 Assets Intangible and tangible assets Goodwill 11,034 20,827 Patents 24,731 28,522 Trademarks 2,419 3,628 Internally developed in-tangible assets 40,333 37,237 Tangible assets 4,958 5,396 Financial assets Shares
Slide 20: Notes
YEAR END REPORT JAN – DEC 2024 NOTES ACCOUNTING POLICIES WARRANT PROGRAM Mentice applies International Financial Reporting Standards (IFRS) There is one outstanding warrant program directed at external key as adopted by the EU. This interim report has been prepared in opinion leaders in North Americ
Slide 21: Product Areas: Outcome per Product Area
YEAR END REPORT JAN – DEC 2024 PRODUCT AREAS* Mentice’s business is divided into four product areas, which reflect the group’s operations, financial management and management structure. These four product areas are Mentice VIST®, Physical Sim, Mentice Live and Ankyras®. The Mentice Live area is not re
Slide 22: Definition of Key Performance Indicators Reported
YEAR END REPORT JAN – DEC 2024 DEFINITION OF KEY PERFORMANCE INDICATORS REPORTED Alternative performance measures (APM) are financial measurements that cannot be directly discerned or ordered from financial statements. These financial measurements are intended to help the company management and investo
Slide 23: Financial Targets, Short to Medium Term; About Mentice
YEAR END REPORT JAN – DEC 2024 FINANCIAL TARGETS, SHORT TO MEDIUM TERM REVENUE GROWTH 20-30% annual growth in net sales. PROFITABILITY To reach a 20% EBITDA margin within three years with a longer-term target of 30%. ABOUT MENTICE BUSINESS OPERATIONS Sustainability, social and environmental issues a
Slide 24: Financial Calendar
YEAR END REPORT JAN – DEC 2024 FINANCIAL CALENDAR ANNUAL REPORT 2024 APRIL 17, 2025 INTERIM REPORT JAN - MAR 2025 MAY 8, 2025 ANNUAL GENERAL MEETING 2025 MAY 27, 2025 INTERIM REPORT APR - JUN 2025 JULY 24, 2025 INTERIM REPORT JUL - SEP 2025 NOVEMBER 6, 2025 Mentice’s interim reports and annual repor