Slide 1: Q2 Interim Report Apr–Jun 2024
Q2 INTERIM REPORT APR – JUN 2024 1
Slide 2: Net sales over 100 MSEK and highest EBITDA in company history
NET SALES REACHING OVER 100 MSEK AND THE EBITDA OF 24.5 MSEK IS THE HIGHEST IN THE COMPANY’S HISTORY SIGNIFICANT EVENTS DURING THE SECOND QUARTER 2024 (APR – JUN) • Larger repeat industry order to significant client of 2.2 MUSD was announced in May. • CEO Göran Malmberg decided to step down from his
Slide 3: Comments by the CEO Göran Malmberg
INTERIM REPORT APR – JUN 2024 COMMENTS BY THE CEO GÖRAN MALMBERG OVERALL The second quarter represents another milestone in Mentice development with the first quarter over 100 MSEK in net sales. The performance in the second quarter again demonstrates the variability of the business where the quarte
Slide 4: Key Figures
INTERIM REPORT APR – JUN 2024 KEY FIGURES Apr-Jun Apr-Jun Change Jan-Jun Jan-Jun Change RTM Full year 2024 2023 2024 2023 2023 Order intake, MSEK 71.0 77.4 -8.3% 108.9 135.1 -19.3% 278.1 304.2 - whereof Medical Device Industry (MDI) 58.7 63.9 -8.1% 90.7 116.5 -22.1% 213.4 240.2 - whereof Healthcares
Slide 5: Financial Performance: Order Intake per Business Area
INTERIM REPORT APR – JUN 2024 FINANCIAL PERFORMANCE ORDER INTAKE PER BUSINESS AREA Mentice operates in three different business areas. Q2 ORDER INTAKE The order intake during the second quarter decreased by -8.3% to Healthcare Systems (HCS) 71 (77) MSEK. Total order intake for the first six months d
Slide 6: Order Intake per Product Area
INTERIM REPORT APR – JUN 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. The
Slide 7: Order Book
INTERIM REPORT APR – JUN 2024 ORDER BOOK The order book at the end of the quarter decreased by -9% and The order book was previously divided by type of product and amounted to 114 (125) MSEK, where 47 MSEK is related to future service, but to have a better view of the business, the division is reven
Slide 8: Net Sales and Net Sales per Region
INTERIM REPORT APR – JUN 2024 NET SALES The group’s net sales consist of sales from 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 a
Slide 9: Net Sales per Segment
INTERIM REPORT APR – JUN 2024 NET SALES PER SEGMENT* Out of the net sales for the quarter 92 (70) MSEK came from The quarter showed a total increase of 35.8%, all product areas product area Mentice VIST™. For the first six months the segment show an increase during the period. The first six months s
Slide 10: Other Income, Gross Profit and Capitalized Expenses
INTERIM REPORT APR – JUN 2024 OTHER INCOME Personnel costs include capitalized costs for development with 2.4 (0.8) MSEK for the quarter and with 5.0 (1.5) MSEK for the first six Other income was 0.7 (2.6) MSEK for the quarter and for the first months. six months other income amounted to 1.1 (2.9) M
Slide 11: Investments, Parent Company, Share Capital
INTERIM REPORT APR – JUN 2024 Inventories amounted to 13.6 (13.3) MSEK. Current liabilities were 151.9 (131.6) MSEK. The carrying amounts of financial assets and liabilities are considered to correspond essentially to fair value. The company also has an overdraft facility of 20 MSEK. INVESTMENTS Inve
Slide 12: Disputes, Risks, Transactions with Related Parties
INTERIM REPORT APR – JUN 2024 DISPUTES RISKS The group has no current disputes. Important risks and uncertainties for the group are primarily related to, commercial with customers and suppliers, operational TRANSACTIONS WITH RELATED PARTIES with regards to competence and security in the implementati
Slide 13: The Share and Ownership
INTERIM REPORT APR – JUN 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 1 680 shareholders by June 30, 2024. FNCA is the company’s c
Slide 14: Affirmation
INTERIM REPORT APR – JUN 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 com
Slide 15: Consolidated Income Statement
INTERIM REPORT APR – JUN 2024 CONSOLIDATED INCOME STATEMENT TSEK Apr-Jun 2024 Apr-Jun 2023 Jan-Jun 2024 Jan-Jun 2023 Full year 2023 Net sales 100,991 74,314 146,418 139,279 273,610 Other income 709 2,631 1,131 2,866 1,514 101,700 76,945 147,549 142,145 275,124 Raw materials and consumables used -14,
Slide 16: Consolidated Balance Sheet
INTERIM REPORT APR – JUN 2024 CONSOLIDATED BALANCE SHEET TSEK 30 June 2024 30 June 2023 Full year 2023 Assets Goodwill 48,508 48,259 48,508 Patents 26,459 30,082 28,253 Trademarks 3,024 4,233 3,628 Internally developed intangible 38,178 41,331 37,144 assets Tangible assets 10,542 12,882 11,566 Right
Slide 17: Consolidated Statement of Changes in Equity
INTERIM REPORT APR – JUN 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 Rede
Slide 18: Consolidated Statement of Cash Flows
INTERIM REPORT APR – JUN 2024 CONSOLIDATED STATEMENT OF CASH FLOWS TSEK Apr-Jun Apr-Jun Jan-Jun 2024 Jan-Jun 2023 Full year 2024 2023 2023 Operating activities Earnings before tax 17,843 4,771 -6,147 4,139 -12 Adjustment for Non-cash items 5,228 2,986 12,995 11,965 28,090 Income tax paid -607 -1,275
Slide 19: Parent Company Income Statement
INTERIM REPORT APR – JUN 2024 PARENT COMPANY INCOME STATEMENT TSEK Apr-Jun 2024 Apr-Jun 2023 Jan-Jun 2024 Jan-Jun 2023 Full year 2023 Net sales 78,368 63,047 105,670 93,114 187,166 Capitalised expense for development 3,269 825 5,654 1,795 2,385 Other income 2,801 2,594 3,721 3,710 13,011 84,437 66,4
Slide 20: Parent Company Balance Sheet
INTERIM REPORT APR – JUN 2024 PARENT COMPANY BALANCE SHEET TSEK 30 June 2024 30 June 2023 Full year 2023 Assets Intangible and tangible assets Goodwill 15,930 25,488 20,827 Patents 26,626 30,551 28,522 Trademarks 3,024 4,233 3,628 Internally developed in-tangible assets 37,941 41,331 37,237 Tangible
Slide 21: Notes
INTERIM REPORT APR – JUN 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 America
Slide 22: Product Areas: Outcome per Product Area
INTERIM REPORT APR – JUN 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 Online and Ankyras™. The Mentice Live area is not re
Slide 23: Definition of Key Performance Indicators Reported
INTERIM REPORT APR – JUN 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 investor
Slide 24: Financial Targets; About Mentice
INTERIM REPORT APR – JUN 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 ar
Slide 25: Financial Calendar
INTERIM REPORT APR – JUN 2024 FINANCIAL CALENDAR INTERIM REPORT APR - JUN 2024 JULY 23, 2024 INTERIM REPORT JUL - SEP 2024 NOVEMBER 7, 2024 YEAR END REPORT 2024 FEBRUARY 13, 2025 ANNUAL REPORT 2024 APRIL 18, 2025 Mentice’s interim reports and annual reports are available on www.mentice.com Mentice A