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Stille AB: Year-End Report 2020

Stille AB (publ) publishes the report for the fourth quarter and full year 2020.  “A strong ending to a year affected by COVID-19”, summarizes CEO Hanna Ernestam Wilkman.

Turnover for the fourth quarter increased to 45.0 MSEK (40.8) and operating profit to 8.7 MSEK (6.3). For the full year 2020, turnover reached 142.6 MSEK (156.7) and operating profit 10.2 MSEK (18.2).

It has been a tough year, but it is great that we end the year with a historically strong quarter where all business areas and product lines display growth compared to previous year, says the CEO and simultaneously notes that it is unclear whether or not the demand has stabilized. It does however remain clear that the healthcare system in several countries will need to deal with the growing care debt and we are ready to assist them, she says.

I am proud of our employees and the progress the company has made during 2020 despite the challenges COVID-19 has posed. We enter the 180th financial year of the company determined in our belief that Stille will deliver quality products to the healthcare system for at least the next 180 years as well, concludes Hanna Ernestam Wilkman.

Strong Ending to the Year

1 oct – 31 dec 2020

  • Revenues amounted to 45.0 MSEK (40.8). 
  • Gross margin amounted to 45.7 procent (45.6). 
  • Operating profit amounted to 8.7 MSEK (6.3), equal to an operating margin of 19.2 percent (15.5).
  • Net income amounted to 4.4 MSEK (4.7), equal to 9.8 percent (11.6).
  • Cashflow from current operations amounted to 19.6 MSEK (10.8).

Events after the reporting period

  • The Swedish Agency for Economic and Regional Growth has decided to reject the company’s application for financial support for short-time work and demands a refund for previously paid support of 2 MSEK. The company has appealed the decision and has for that reason not reserved for their demand.

Dividend

  • The board of directors proposes the Annual General Meeting a dividend of 1.70 SEK per share (0.0)
MSEK oct-dec
2020
oct-dec
2019
jan-dec
2020
jan-dec
2019
Revenue, MSEK 45.0 40.8 142.6 156.7
Operating Margin, % 19.2 15.5 10.2 18.2
Operating Profit 8.7 6.3 14.5 28.5
Profit Before Tax, MSEK 5.7 5.7 10.8 28.8
Net Income, MSEK 4.4 4.7 8.3 22.9
Earnings per Share, SEK 0.91 0.98 1.71 4.74

Torshälla, February 18th 2021

Attachments

Year-End Report 2020 (Only in Swedish)

210218 Pressrelease Year-End Report 2020

For more information, please contact:

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

STILLE AB (publ) develops, manufactures and markets medical devices for surgeons across the world. Stille was founded in 1841 and is one of the world’s oldest medical device companies. Stille’s main business areas are surgical instruments and c-arm tables. Stille’s surgical instruments are mostly used during different kinds of open surgery. During minimal invasive procedures, the c-arm tables imagiQ2 and Medstone are key products. The company has a strong brand and products of a renowned high-quality.

The share is listed on First North Growth Market under the acronym “STIL” with Eminova AB as Certified Adviser. Eminova Fondkommission AB, + 46 8 684 211 10, adviser@eminova.se. 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 above, rendered for publication on February 18th 2021, kl. 08.00.

For more information about Stille visit www.stille.se


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