Surgical Science Sweden Ab · OMXSTO:SUS
Surgical Science Sweden Ab — Q4 2024 Earnings Presentation
12 slides from Surgical Science Sweden Ab's earnings presentation, Feb 19, 2025
Slide 1: Presentation of Year-end Report 2024
Surgical Science Presentation of Year-end Report 2024 February 19, 2025 ©2024 Surgical Science. | All Rights Reserved.
Slide 2: CEO comments – Q4
CEO comments – Q4 ▪ Steadily improved market conditions with record sales for the group of SEK 252 (227) million Intelligent Ultrasound Product Portfolio ▪ Higher customer activity in Edu Products, but budget availability still constraining growth ▫ +2% growth to 125 MSEK ▪ Industry/OEM solid revenu
Slide 3: CEO comments – Q4 (cont.)
CEO comments – Q4 (cont.) ▪ Operating profit of SEK 39 million (16 percent margin) and strong cash Objectives with Reorganization flow with net cash increasing by SEK 66 million for the quarter ▪ Initiated reorganization within Sales and R&D to meet customer Sales demands and increase efficiency. Cl
Slide 4: Q4: Strong end to the year
Q4: Strong end to the year SEKm Q4: 250 ▪ Net sales up 11% to SEKm 251.5 (227.3), ATH. In local currencies up 11%. 200 38% 50% ▪ Educational Products’ sales up 2%. China 38% 45% 41% 40% 46% strong and positive outlook for 2025. Europe 48% 150 strong, US weaker. Cautiously optimistic 58% looking forw
Slide 5: Revenue streams – strong simulator sales
REVENUE STREAMS – strong simulator sales SEKm 3% ▪ License rev’s: 30 (33) percent of total 2% 250 2% 3% 4% revenues. Lumpy for new entrants, 25% 2% 6% 4% 30% revenues from several customers. 200 5% 31% 28% 33% 35% 26% 32% 8% 8% ▪ Simulator sales strongest since Q4 150 34% 8% 10% 9% 10% 2022. 9% 10%
Slide 6: Costs and EBIT margin Q4 2024
COSTS AND EBIT MARGIN Q4 2024 ▪ Gross margin 68% (71). Decreased share of license revenues (30 vs 33%) had a negative effect. Also lower share of direct sales, some more service cases. Costs of goods sold 32% (29) Sales costs 20% (19) ▪ Sales: Approx. SEKm 5 higher costs due to items Administration
Slide 7: Organization – 60+ markets covered
ORGANIZATION No of employees at end of period: 274 (260) Men 199 (188) Women 75 (72) Israel 138 (136) Sweden 64 (57) 60+ markets covered USA 54 (53) Other 18 (14) * Offices / Development sites * Other: Primarily Germany and China. ©2024 Surgical Science. | All Rights Reserved.
Slide 8: Adjusted EBIT
ADJUSTED EBIT SEKm Q4: 50% 250 45% ▪ Adjusted EBIT SEKm 45.3 (43.8), margin 18% (19). 40% 200 35% 30% 150 25% YTD: 100 20% 15% ▪ Adjusted EBIT SEKm 10% 168.7 (213.6), margin 50 19% (24). 5% 0 0% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2022 2023 2024 Net sales Adjusted EBIT Adjusted EBIT % ©2024 Surgical Science.
Slide 9: Finance net and taxes
FINANCE NET AND TAXES ▪ Finance net for the quarter SEKm 0.3 (80.8). Interest on bank balances, cost GBP loan, revaluation of internal loans towards subsidiaries and IFRS 16 effect. Comparative figure includes SEKm 70.2 attributable to Mimic acquisition. ▪ Net result for the quarter SEKm 36.3 (98.0)
Slide 10: Cash flow
CASH FLOW SEKm ▪ Cash flow from operating activities SEKm 800 25% 56.7 (39.6). Change in working capital SEKm -2.2 (-14.8). Inventory and A/R 700 20% increased somewhat, however all due to 600 FX. 500 15% ▪ Cash flow from investing activities mainly 400 investments in development costs. 10% ▪ Cash f
Slide 11: Events after year-end
EVENTS AFTER YEAR-END ▪ Jan 15: LOI with Intuitive. All dv5’s will be equipped with simulation from SuS. Fully subscription-based model, also for older platforms. ▪ Feb 3: Election committee proposal for AGM: all board members re-election, Gisli Hennermark proposed as new Chair. ▪ Feb 4: contract in
Slide 12: Thank you
Thank you Find out more at: www.surgicalscience.com Tom Englund, CEO tom.englund@surgicalscience.com Anna Ahlberg, CFO anna.ahlberg@surgicalscience.com
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