Global 
Sverige 
USA Stille AB: Interim Report Q3 2021
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-sept 2021 |
jul-sept 2020 |
jan-sept 2021 |
jan-sept 2020 |
oct/sept 20/21 |
jan-dec 2020 |
| Revenue | 51.1 | 31.5 | 127.5 | 97.6 | 172.5 | 142.6 |
| Operating Profit incl. transaction costs | 5.5 | 2.6 | 14.6 | 5.9 | 23.3 | 14.5 |
| Operating Margin incl. transaction costs. % | 10.7 | 8.3 | 11.4 | 6.0 | 13.5 | 10.2 |
| 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, SEK | 0.68 | 0.32 | 2.03 | 0.80 | 2.91 | 1.71 |
Torshälla, October 27th, 2021.
