Stille AB: Year-End Report 2023

Stille AB (publ) today presents the report for the fourth quarter and full fiscal year 2023. ”Strong finish to the year with solid sales growth, enhanced profitability and the strategic acquisition of Fehling Instruments”, summarizes President and CEO Torbjörn Sköld in the year-end report.

Revenue increased in the fourth quarter by 25.0 percent to 77.3 MSEK (61.8) with strong growth from both business units. “I am pleased to note that our growth momentum remains strong in the fourth quarter, and we continue to deliver on our growth strategy. 2023 marked a significant milestone for Stille.”, comments Torbjörn Sköld, referencing the acquisition of the German family-owned company Fehling Instruments, announced during the fourth quarter.

"With this acquisition, Stille significantly broadens its product portfolio and further strengthens its position in strategically important markets within the premium surgical instrument segment”, says Torbjörn Sköld, expressing satisfaction with the successful share issue that financed the acquisition. “The remarkable interest in Stille meant that the share issue, despite the current business climate, was carried out at a premium to the then-current stock price, strengthening our already robust shareholder base with new, long-term, sector-specific owners."

The gross profit amounted to 45.6 percent (45.8). Business unit Surgical Tables was affected by an unfavorable product 
and market mix. Operating profit amounted to 14.0 MSEK (8.8).

”2023 ends very strongly, and we look forward to 2024”, concludes Stille’s CEO.

Revenue 77.3 61.8 294.9 246.3
Gross Profit Margin, % 45.6 45.8 44.8 45.3
EBITDA, before one-time costs 17.7 11.7 62.6 42.1
EBITDA 17.7 11.6 59.3 42.1
EBITDA, % 22.9 18.8 20.1 17.1
Operating Profit, before one-time costs 14.0 8.8 48.3 32.5
Operating Profit 14.0 8.8 45.0 32.4
Operating Profit, % 18.1 14.2 15.2 13.2

Torshälla, February 16th, 2024.

This information is such information that Stille AB is obliged to disclose according to the EU’s market abuse regulation. The information was, through the agency of the contact person, rendered for publication on February 16th, 2024, kl. 08.00 (CET).