Stille AB: Year-End Report 2023
Stille AB (publ) today presents the report for the fourth quarter and full fiscal year 2023. ”Strong finish to the year with solid sales growth, enhanced profitability and the strategic acquisition of Fehling Instruments”, summarizes President and CEO Torbjörn Sköld in the year-end report.
Revenue increased in the fourth quarter by 25.0 percent to 77.3 MSEK (61.8) with strong growth from both business units. “I am pleased to note that our growth momentum remains strong in the fourth quarter, and we continue to deliver on our growth strategy. 2023 marked a significant milestone for Stille.”, comments Torbjörn Sköld, referencing the acquisition of the German family-owned company Fehling Instruments, announced during the fourth quarter.
"With this acquisition, Stille significantly broadens its product portfolio and further strengthens its position in strategically important markets within the premium surgical instrument segment”, says Torbjörn Sköld, expressing satisfaction with the successful share issue that financed the acquisition. “The remarkable interest in Stille meant that the share issue, despite the current business climate, was carried out at a premium to the then-current stock price, strengthening our already robust shareholder base with new, long-term, sector-specific owners."
The gross profit amounted to 45.6 percent (45.8). Business unit Surgical Tables was affected by an unfavorable product
and market mix. Operating profit amounted to 14.0 MSEK (8.8).
”2023 ends very strongly, and we look forward to 2024”, concludes Stille’s CEO.
| MSEK | OCT-DEC 2023 |
OCT-DEC 2022 |
JAN-DEC 2023 |
JAN-DEC 2022 |
| Revenue | 77.3 | 61.8 | 294.9 | 246.3 |
| Gross Profit Margin, % | 45.6 | 45.8 | 44.8 | 45.3 |
| EBITDA, before one-time costs | 17.7 | 11.7 | 62.6 | 42.1 |
| EBITDA | 17.7 | 11.6 | 59.3 | 42.1 |
| EBITDA, % | 22.9 | 18.8 | 20.1 | 17.1 |
| Operating Profit, before one-time costs | 14.0 | 8.8 | 48.3 | 32.5 |
| Operating Profit | 14.0 | 8.8 | 45.0 | 32.4 |
| Operating Profit, % | 18.1 | 14.2 | 15.2 | 13.2 |
Torshälla, February 16th, 2024.
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, rendered for publication on February 16th, 2024, kl. 08.00 (CET).
For more information, please contact:
Torbjörn Sköld
CEO and President
+46 (0)70 316 63 91 | torbjorn.skold@stille.se
Stille AB (publ) 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. For more information, visit www.stille.se.