Interim report May – July 2021: Increased net sales of 79% compared to same period previous year TSEK 12 882 (7 214).
Integrum reported net sales growth of 79% compared with the corresponding period last year TSEK 12 882 (7 214) during the period May – July 2021. On the US market, net sales for the first quarter increased by 64%. Operating profit was positively affected in the quarter by unrealized currency effects of TSEK 678, adjusted for currency effects, the operating profit totaled TSEK 508 (3.9%).
May - July 2021
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Net sales amounted to TSEK 12 882 (7 214)
- Total income amounted to TSEK 15 937 (7 276)
- Operating expenses amounted to TSEK -14 751 (-10 357)
- Operating profit (EBIT) totaled TSEK 1 186 (-3 080)
- Net profit amounted to TSEK 1 228 (-3 334)
María López – CEO:
We operate in a large market with low penetration, where one of our challenges is to create awareness of the advantages of the OPRATM Implant System as compared to traditional socket prostheses.
During the quarter, we increased the availability of treatment with the OPRATM Implant System by adding to the number of hospitals within the OPRATM network, and making it easier for patients to find the hospitals where the treatments are performed using digital initiatives such as “Find a Center”.
We carry out a successful directed share issue that enables us to accelerate our commercialization strategy and position ourselves well for the future.
Our focus is on growth and especially on the US market, which accounts for 70% of total sales. The company had a strong first quarter with a sales increase of 79% compared to the same period last year. Sales in our most important market, the US, increased by 64%. The collaboration with Onkos Surgical is developing well, which strengthens our presence and opportunities for increased market penetration.
One example is that seven of the clinics Onkos Surgical has agreements with, of which several are very reputable, have treated their first patients.
While we are seeing a trend towards more normal clinical activity levels in hospitals, the global market is still impacted by the effects of the pandemic.
It is gratifying that Integrum's sales revenue, seen over a rolling 12-month period, is now approaching MSEK 50. Over the past year, operating profit has improved significantly, and it continues to strengthen. With a gross margin of 81% in the quarter, we reached a positive EBIT of 3.9%, adjusted for currency effects.
In mid-June, a very successful directed share issue was carried out, and the Company brought in a total of MSEK 121. Through the issue, a number of Swedish and international institutional investors were added, including Didner & Gerge Fonder, Stena Finans, Vasastaden Holding and Consensus Fonder.
This injection of capital gives us the opportunity to scale up specific functions in the organization, and continue investments in order to drive and develop our growth strategy with a focus on the US. We are laying the foundation for tomorrow, and look towards the future with great confidence.
This information is such that Integrum AB (publ) is required to publish in accordance with the EU Market Abuse Regulation and the Swedish Security Markets Act. The
information was submitted for publication, through the agency by the contact persons set out below on September 2, 2021, at 8:30 am (CET).
For more information please contact:
María López, VD. Phone: +46 (0) 70 846 10 69, Email: maria.lopez@integrum.se
Dennis Baecklund, CFO. Phone: +46 (0) 72 556 68 69, Email: dennis.baecklund@integrum.se
Certified Adviser
Erik Penser Bank is Certified Adviser and can be reached at +46 (0) 8 - 463 8000
Integrum AB is a publicly traded company (INTEG B: Nasdaq First North exchange) based outside of Gothenburg, Sweden, with a US subsidiary in San Francisco, CA. Since 1990, osseointegration, the science behind the OPRA™ Implant System, has been helping individuals with amputations enjoy a dramatically improved quality of life. Thorough surgical experience gained over more than three decades, from more than 500 surgeries, in 14 countries, has led to the development of Integrum’s system for bone- anchored prostheses – a vastly superior alternative to the traditionally used socket prosthesis.