Surgical Science Sweden Ab · OMXSTO:SUS

Surgical Science Sweden Ab — Q4 2023 Earnings Presentation

11 slides from Surgical Science Sweden Ab's earnings presentation, Feb 21, 2024

  1. Slide 1: Presentation of Year-end report 2023

    Surgical Science Presentation of Year-end report 2023 February 21, 2024 ©2023 Surgical Science. | All Rights Reserved.

  2. Slide 2: CEO comments – Q4

    CEO comments – Q4 License Revenues (SEKt) 300 000  Total revenue decreased in Q4 250 000 75 887 - Lack of Q4 effect for Edu Products in 2023 due to economy 200 000 55 528 - Chinese market challenge takes longer than expected for Edu Products 150 000 63 141 100 000 40 352 75 710  License revenue gr

  3. Slide 3: Q4: Strong license rev's, weaker simulator sales

    Q4: Strong license rev’s, weaker simulator sales SEKm Q4:  Net sales was down 9% - SEKm 227.3 250 (250.1). In local currencies -9%. 38%  Educational Products’ sales was down 200 38% 33% 41% 40% 46% 20%. In line with Q2 and Q3, no Q4 150 36% effect. US weak, China still anti- 39% corruption campaig

  4. Slide 4: Revenue streams – strong year for licence rev's

    REVENUE STREAMS – strong year for licence rev’s  License rev’s: SEKm 75.9 (63.1). SEKm 3% 250 2% 2% 3% Lumpy for new entrants, 200 5% 25% 6% revenues from several 6% 20% 31% 35% 26% 33% customers. 8% 8% 150 24% 8% 8%  Simulator sales down, no Q4 effect. Excl. US order 2022 10% 9% 22% 9% 10% 100 9%

  5. Slide 5: Costs and EBIT margin Q4 2023

    COSTS AND EBIT MARGIN Q4 2023  Gross margin 71% (66). Increased share of license revenues (33 vs 25%) had a positive effect. Product mix and ASP also favorable. Costs of goods sold 29% (34)  Sales: costs increased a bit, usually higher in Sales costs 19% (17) Q4. 19% (17) of sales. Administration

  6. Slide 6: Organization 60+ markets covered

    ORGANIZATION No of employees at end of period: 260 (243) Men 188 (177) Women 72 (66) Israel 136 (121) Sweden 57 (57) 60+ markets covered USA 53 (53) Other 14 (12) * Offices / Development sites * Other: Primarily Germany and China. ©2023 Surgical Science. | All Rights Reserved.

  7. Slide 7: Adjusted EBIT

    ADJUSTED EBIT SEKm 250 50% Q4: 45%  Adjusted EBIT SEKm 200 40% 43.8 (67.4), margin 35% 19% (27). 150 30% 25% YTD: 100 20% 15%  Adjusted EBIT SEKm 50 10% 213.6 (186.0), 5% margin 24% (23). 0 0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 Adjustments for Net sales Adjusted EBIT Adjusted EBIT % acquisition

  8. Slide 8: Finance net and taxes

    FINANCE NET AND TAXES  Finance net for the quarter SEKm 80.8 (65.8). Effect Mimic earnout SEKm 70.2 (57.1). Other items are interest on bank balances, revaluation of internal loans towards subsidiaries and IFRS16 effect.  Taxes paid affected by NOL carryforwards in Sweden and the US. For 2024 NOLs

  9. Slide 9: Cash flow – A/R continued to decrease

    CASH FLOW – A/R continued to decrease SEKm 35%  Cash flow from operating activities 600 SEKm 39.6 (78.5). Change in 30% working capital SEKm -14.8 (-4.8). 500 25% Inventory and A/R decreased, other 400 current receivables increased. 20%  Cash flow from investing activities mainly investments in de

  10. Slide 10: 2024 Annual Partner Meeting

    2024 Annual Partner Meeting ©2023 Surgical Science. | All Rights Reserved.

  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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