Surgical Science Sweden Ab · OMXSTO:SUS
Surgical Science Sweden Ab — Q2 2024 Earnings Presentation
10 slides from Surgical Science Sweden Ab's earnings presentation, Aug 22, 2024
Slide 1: Presentation of Interim Report Q2
Surgical Science Presentation of Interim Report Q2 August 22, 2024 ©2024 Surgical Science. | All Rights Reserved.
Slide 2: CEO comments – Q2
CEO comments – Q2 ▪ Edu Products turn around, -13% revenue - Slow start of the quarter but momentum increased. Trend continued in Q3 - Big tenders are back – especially in eastern Europe - China rebounded – outlook brighter but still uncertainty ▪ Uncertainty of Edu Product growth in 2024 but doable
Slide 3: Q2: Edu rebound, Indu/OEM strong development
Q2: Edu rebound, Indu/OEM strong development SEKm Q2: 250 ▪ Net sales was down 2% to SEKm 200 38% 212.5 (216.2). In local currencies 38% 46% -1%. 33% 41% 40% 48% 150 36% ▪ Educational Products’ sales was down 58% 13%. Large tenders back, Asia/China 100 stronger. Q ended strong, good 67% 62% 62% orde
Slide 4: Revenue streams – rebound simulator sales
REVENUE STREAMS – rebound simulator sales SEKm 250 3% ▪ License rev’s: 32 (35) percent of 2% 2% 6% 3% 4% total revenues. Lumpy for new 200 6% 5% 25% 5% entrants, revenues from several 20% 8% 31% 35% 26% 33% 32% customers. 24% 150 8% 8% 9% 34% ▪ Simulator sales rebound from 10% 10% 9% 10% Q1, Edu inc
Slide 5: Costs and EBIT margin Q2 2024
COSTS AND EBIT MARGIN Q2 2024 ▪ Gross margin 68% (68). Decreased share of license revenues (32 vs 35%) had a negative effect. Product mix and ASP favorable. Costs of goods sold 32% (32) Sales costs 20% (19) ▪ Sales: High activity with many congresses, Administration costs 10% (7) Research and develo
Slide 6: Organization – 60+ markets covered
ORGANIZATION No of employees at end of period: 265 (259) Men 192 (183) Women 73 (76) Israel 138 (132) Sweden 57 (58) 60+ markets covered USA 55 (54) Other 15 (15) * Offices / Development sites * Other: Primarily Germany and China. ©2024 Surgical Science. | All Rights Reserved.
Slide 7: Adjusted EBIT
ADJUSTED EBIT SEKm Q2: 250 50% ▪ Adjusted EBIT SEKm 45% 200 40% 39.5 (53.6), margin 19% (25). 35% 150 30% 25% 100 20% YTD: 15% ▪ Adjusted EBIT SEKm 50 10% 71.5 (112.9), margin 5% 18% (25). 0 0% Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2022 2023 2024 Net sales Adjusted EBIT Adjusted EBIT % ©2024 Surgical Science.
Slide 8: Finance net and taxes
FINANCE NET AND TAXES ▪ Finance net for the quarter SEKm 4.4 (-5.2). Interest on bank balances, revaluation of internal loans towards subsidiaries and IFRS 16 effect. ▪ Net result for the quarter SEKm 28.6 (38.8). ©2024 Surgical Science. | All Rights Reserved.
Slide 9: Cash flow
CASH FLOW SEKm ▪ Cash flow from operating activities 700 25% SEKm 30.0 (85.1). Change in working 600 capital SEKm -17.1 (30.2). Inventory 20% increased (primarily finished goods), 500 A/R decreased. 400 15% ▪ Cash flow from investing activities mainly investments in development 300 10% costs. 200 ▪
Slide 10: 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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