Stille AB: Interim Report Q1 2022

Stille AB (publ) publishes the report for the first quarter of 2022. ”A record breaking first quarter coupled with a high profitability.”, summarizes Stille CEO Hanna Ernestam Wilkman.

Revenues for the first quarter increased by 72 percent to 61.6 MSEK (35.8) and the organic growth amounted to 21 percent with revenues of 43.3 MSEK. Operating profit increased to 7.5 MSEK (4.0).

”I can conclude that revenues for business unit Surgical Tables never has been higher than during the first quarter 2022. Most notable is the growth outside the US where sales increased by 52 percent compared to the same period last year. In the US, sales increased by 35 percent. The high sales volume has contributed to a substantial increase in profitability. We have successfully met our customers increased demands, despite the global component shortage”, comments Hanna Ernestam Wilkman the first quarter and notes that the component shortages are expected to continue. 

Business unit Surgical Instruments doubled their revenues compared to the same quarter last year through the acquired volume of S&T. S&T, acquired in 2021, continues to deliver a very high revenue and profitability stream. 

”The first quarter was a strong opening to the new business year and it is clear that there is a pent-up demand for our products, as elective surgeries are finally being prioritized again. I am very optimistic about the company’s future”, concludes Stille’s CEO.

MSEK jan-mar
Revenue 61.6 35.8 212.9 187.1
Gross Profit Margin, % 44.8 41.9 45.1 44.6
Operating Profit, incl. Transaction Costs 7.5 4.0 23.7 20.1
Operating Profit, incl. Transaction Costs, % 12.2 11.1 11.1 10.7
EBITDA 9.8 5.2 31.4 26.8
Net Income 5.3 4.0 17.4 16.1

Torshälla, April 28th, 2022.

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 April 28th, 2022, kl. 08.00 (CET).