Slide 1: Interim Report Jan – Mar 2025
sss INTERIM REPORT JAN – MAR 2025 1
Slide 2: Stable Growth and Strategic Changes in the First Quarter
STABLE GROWTH AND STRATEGIC CHANGES IN THE FIRST QUARTER SIGNIFICANT EVENTS DURING THE FIRST QUARTER 2025 (JAN – MAR) • Mentice announced a significant order from a top 20 global Med Tech company for 6.5 MSEK. • Frans Venker joined Mentice as new CEO on Jan 1, 2025. FIRST QUARTER 2025 (JAN – MAR) •
Slide 3: Comments by the CEO Frans Venker
INTERIM REPORT JAN – MAR 2025 COMMENTS BY THE CEO FRANS VENKER Providing value to our customers In Q1, we began reshaping our organization with the purpose of reaching our mid- to long-term strategic goals. We will place significant emphasis on product development and improvement within Healthcare S
Slide 4: Key Figures
INTERIM REPORT JAN – MAR 2025 KEY FIGURES Jan-Mar Jan-Mar Change RTM Full Year 2025 2024 2024 Order intake, MSEK 43.7 37.9 15.1% 284.7 278.9 - whereof Medical Device Industry (MDI) 42.4 34.3 23.6% 239.9 231.8 - whereof Healthcaresystems (HCS) 1.3 3.6 -63.9% 44.9 47.2 Order book (end of period), MSEK
Slide 5: Financial Performance
INTERIM REPORT JAN – MAR 2025 FINANCIAL PERFORMANCE ORDER INTAKE PER BUSINESS AREA Mentice operates in two different business areas. Q1 ORDER INTAKE The order intake during the first quarter increased by 15% to Healthcare Systems (HCS) 43.7 (37.9) MSEK of which 11% was organic and 4% FX. The The HCS
Slide 6: Order Book
INTERIM REPORT JAN – MAR 2025 ORDER BOOK The order book at the end of the quarter decreased by -19.8% and amounted to 118 (147) MSEK, whereof 75 MSEK is related to future revenue to be recognized in 2025. The order book represents orders received and which will be recognized as net sales in the comi
Slide 7: Net Sales
INTERIM REPORT JAN – MAR 2025 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 8: Net Sales per Region
INTERIM REPORT JAN – MAR 2025 NET SALES PER REGION The total net sales in the quarter increased by 19.5%, whereof APAC grew by 88.2% for the quarter and is attributable to the 17.3% organic and 2.2% currency impact. Medical Device Industry (MDI). EMEA net sales increased by 3.9% for the quarter. The
Slide 9: Net Sales per Segment
INTERIM REPORT JAN – MAR 2025 NET SALES PER SEGMENT The Mentice product portfolio consists of four different product medical devices or when training and planning for demanding areas*, where Mentice VIST® accounts for the largest part of the high-cost and high-risk procedures. company's turnover. Th
Slide 10: Other Income
INTERIM REPORT JAN – MAR 2025 OTHER INCOME FINANCIAL ITEMS Other income was 0.6 (0.4) MSEK for the quarter and is related to Net financial items for the quarter amounted to 0.0 (0.2) MSEK. exchange rate impact on the operating activities. INCOME BEFORE TAX, NET RESULT FOR THE GROSS PROFIT AND GROSS M
Slide 11: The Purpose of Mentice
INTERIM REPORT JAN – MAR 2025 2025, Denis Gestin received 0,25 (0,26) MSEK as fee in addition to board fee. The above transactions were conducted based on market value. THE PURPOSE OF MENTICE The purpose of Mentice’s solutions is to support the healthcare professionals in their mission to ensure all
Slide 12: The Share and Ownership
INTERIM REPORT JAN – MAR 2025 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 1,508 shareholders by March 31, 2025. FNCA is the company’s
Slide 13: Affirmation
INTERIM REPORT JAN – MAR 2025 AFFIRMATION Mentice AB (publ)’s CEO hereby assures 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 companies which are part
Slide 14: Consolidated Income Statement
INTERIM REPORT JAN – MAR 2025 CONSOLIDATED INCOME STATEMENT KSEK Jan-Mar 2025 Jan-Mar 2024 Full year 2024 Net sales 54,269 45,427 290,329 Other income 607 422 2,149 Operating income 54,876 45,849 292,478 Raw materials and consumables used -4,086 -3,015 -33,084 Depreciation of rented assets -61 -596
Slide 15: Consolidated Balance Sheet
INTERIM REPORT JAN – MAR 2025 CONSOLIDATED BALANCE SHEET KSEK 31 Mar 2025 31 Mar 2024 Full year 2024 Assets Goodwill 48,508 48,508 48,508 Patents 23,747 27,374 24,648 Trademarks 2,117 3,326 2,419 Internally developed intangible assets 41,824 37,609 41,527 Tangible assets 8,763 11,369 8,637 Right-of-
Slide 16: Consolidated Statement of Changes in Equity
INTERIM REPORT JAN – MAR 2025 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY KSEK Share Other paid Translation Retained Total equity capital in capital reserve earnings At 1 January 2024 1,278 201,385 -1,431 -42,259 158,973 Transactions with owners in the group Issue of share options 343 343 Payment of
Slide 17: Consolidated Statement of Cash Flows
INTERIM REPORT JAN – MAR 2025 CONSOLIDATED STATEMENT OF CASH FLOWS KSEK Jan-Mar 2025 Jan-Mar 2024 Full year 2024 Operating activities Earnings before tax -26,778 -23,991 -13,502 Adjustment for Non-cash items 8,571 7,767 30,456 Income tax paid 674 -2,076 -4,195 Cash flow from operating activities bef
Slide 18: Parent Company Income Statement
INTERIM REPORT JAN – MAR 2025 PARENT COMPANY INCOME STATEMENT KSEK Jan-Mar 2025 Jan-Mar 2024 Full year 2024 Net sales 32,418 27,303 200,639 Capitalised expense for development 2,888 2,836 13,471 Other income 607 920 17,308 Operating income 35,913 31,059 231,418 Raw materials and consumables used -5,
Slide 19: Parent Company Balance Sheet
INTERIM REPORT JAN – MAR 2025 PARENT COMPANY BALANCE SHEET KSEK 31 Mar 2025 31 Mar 2024 Full year 2024 Assets Intangible and tangible assets Goodwill 8,585 18,378 11,034 Patents 23,783 27,574 24,731 Trademarks 2,117 3,326 2,419 Internally developed in-tangible assets 40,455 37,794 40,333 Tangible as
Slide 20: Notes
INTERIM REPORT JAN – MAR 2025 NOTES ACCOUNTING POLICIES WARRANT PROGRAM Mentice applies International Financial Reporting Standards (IFRS) Mentice has two outstanding option programs for staff and as adopted by the EU. This interim report has been prepared in external consultants, with the aim of st
Slide 21: Product Areas
INTERIM REPORT JAN – MAR 2025 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 rep
Slide 22: Definition of Key Performance Indicators Reported
INTERIM REPORT JAN – MAR 2025 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 investor
Slide 23: Financial Targets, Short to Medium Term
INTERIM REPORT JAN – MAR 2025 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 ar
Slide 24: Financial Calendar
INTERIM REPORT JAN – MAR 2025 FINANCIAL CALENDAR 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 reports are available on www.mentice.com Mentice AB (publ) – Interim report Jan -