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2021-10-27

Stille AB: Interim Report Q3 2021

Stille AB (publ) publishes the report for the third quarter. "A quarter with strong growth", summarizes CEO Hanna Ernestam Wilkman.

Stille delivered growth both organically as well as through the acquisition of Swiss company S&T AG. Organic sales grew by 12% compared to the same quarter previous year.

"The acquisition of S&T means that business unit Surgical Instruments has doubled in size. The integration of the company is progressing according to plan. Our main focus is to realize identified cross-selling synergies within both product and distribution network", says CEO Hanna Ernestam Wilkman.

Revenues grew for both business unit Surgical Instruments (44%) as well as business unit C-arm Tables (14%).
    
"I am particularly satisfied to see that our expansion in the US continues with a growth of 34%. This despite of disruptions in the supply chain, disruptions that may continue to affect the business. As we now enter the fourth quarter, we do so with a strong optimism regarding the continued development of our business", concludes Stille's CEO.

Sustained Growth in the Third Quarter

  • Revenues amounted to 51.1 MSEK (31.5). 
  • Gross margin amounted to till 45.0 percent (43.7). 
  • Operating profit amounted to 5.5 MSEK (2.6), equal to an operating margin of 10.7 percent (8.3). The operating profit was impacted with -1.5 MSEK (0.0) in transaction costs.
  • Net income amounted to 3.4 MSEK (1.5), equal to 6.7 percent (4.8) of revenues.
  • Cashflow from current operations amounted to 6.9 MSEK (0.8).
  • On July 8th 2021, Stille acquired 100% of the shares in Swiss company S&T AG.
  • The Administrative Court has decided to repeal the decision made by the Swedish Agency for Economic and Regional Growth to deny Stille's request for short-time work allowance.

MSEK jul jul-sept jan-sept jan-sept oct/sept jan-dec
-sept 2020 2021 2020 20/21 2020

2021
Revenue 51.1 31.5 127.5 97.6 172.5 142.6
Operating Profit 5.5 2.6 14.6 5.9 23.3 14.5
incl. transaction
costs
Operating Margin 10.7 8.3 11.4 6.0 13.5 10.2
incl. transaction
costs. %
Profit Before Tax 6.0 2.0 15.8 5.1 21.5 10.8
Net Income 3.4 1.5 10.2 3.9 14.6 8.3
Earnings per Share, 0.68 0.32 2.03 0.80 2.91 1.71
SEK

Torshälla, October 27th, 2021.

For more information, please contact:

Hanna Ernestam Wilkman
CEO
+46 (0)72 402 10 88 | hanna.e.wilkman@stille.se

Författare Cision