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Stille AB: Interim Report Q2 2021

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Stille AB (publ) publishes the report for the second quarter and first half of 2021. “A historically strong second quarter with growth in all markets which we operate”, comments CEO Hanna Ernestam Wilkman.

Revenues for the second quarter increased by 39 percent to 40.6 MSEK (29.3) and operating profit to 5.2 MSEK (-1.5) compared to previous year. The growth is applicable to both Surgical Instruments (44 percent) and C-arm Tables (35 percent). 

“I am pleased to see that demand for our products is returning in all markets where we are active, and it is particularly positive that the growth for both business units is the strongest on the strategically important US market”, says CEO Hanna Ernestam Wilkman.

Shortly after the end of the second quarter, Stille acquired Suisse S&T AG, a company that develops, manufactures, and markets microsurgical instruments.
    
“S&T AG meets our high expectations regarding profitability and growth potential. This acquisition is a strong complement to Stille’s product portfolio for microsurgery, while S&T AGs distribution network complement Stille’s sales channels very well. With the acquisition we double the size of our Surgical Instruments business unit. The 180th business year is undeniably a milestone in Stille’s growth journey and I am very optimistic about the future”, notes Stille’s CEO.

Strong Growth In All Markets

  • Revenues amounted to 40.6 MSEK (29.3). 
  • Gross margin amounted to till 45.4 percent (28.9). 
  • Operating profit amounted to 5.2 MSEK (-1.5), equal to an operating margin of 12.7 percent (-5.1). The operating profit was impacted with -0,8 MSEK (0.0) in transaction costs.
  • Net income amounted to 2.7 MSEK (-2.0), equal to 6.7 percent (-7.0) of revenues.
  • Cashflow from current operations amounted to -3.0 MSEK (0.6).
MSEK apr-jun
2021		 apr-jun
2020		 jan-jun
2021		 jan-jun
2020		 jul-jun
20/21		 jan-dec
2020
Revenue 40.6 29.3 76.4 66.1 152.9 142.6
Operating Profit incl. transaction costs 5.2 -1.5 9.1 3.3 20.4 14.5
Operating Margin incl. transaction costs. % 12.7 -5.1 12.0 4.9 13.3 10.2
Profit Before Tax 4.1 -2.4 9.8 3.1 17.5 10.8
Net Income 2.7 -2.0 6.8 2.3 12.7 8.3
Earnings per Share. SEK 0.57 -0.42 1.40 0.48 2.63 1.71

Torshälla, July 16th, 2021. 

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 July 16th, 2021, at 08.00 (CET).

For more information about Stille visit www.stille.se

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