Q4 2024 C Rad AB Earnings Call Transcript
Key Points
- C-Rad AB (FRA:24C) achieved a 112% revenue growth in Q4, driven by successful expansion in the EMEA region.
- The company reported a solid EBIT margin of 17% for Q4 and 15% for the full year, indicating strong profitability.
- C-Rad AB (FRA:24C) has a strong financial position with no long-term debt and increased cash balances by SEK32 million during the quarter.
- The company secured multiple long-term service contracts in key markets such as Sweden, Germany, Spain, and Italy, enhancing future revenue streams.
- C-Rad AB (FRA:24C) has a market-leading position in APAC, with significant contributions from China, Japan, South Korea, Thailand, Vietnam, and India, resulting in doubled revenue in the region for Q4.
- The full year order intake was down by 7% to SEK486 million, impacted by macroeconomic challenges.
- Revenue in EMEA declined by 39% to SEK48 million in Q4, primarily due to lower order intake earlier in the year.
- Revenue in the Americas was below expectations, affected by slower backlog conversion and installation delays.
- The company experienced a significant amount of order cancellations, totaling almost SEK15 million during the quarter.
- Gross profit for the quarter decreased to SEK79.9 million from SEK90.4 million a year ago, following a decline in revenue year-on-year.
Welcome to our Q4 presentation. We closed the year with growing order intake and solid profitability. But let me first zoom out briefly and take you through C-RAD's long term strategy and our progress for Q4 and 2024.
As most of you already know, C-RAD is active within radiation therapy, and more than half of all cancer patients undergo radiation therapy at some point of their treatment. So let me take you through this slide from left to right.
First, we have a market leading patient centric portfolio integrated with all leading Linac proton and CT suppliers. And I'm proud that we have over 1900 systems supplied globally.
Secondly, we have a global reach and are expanding step by step. And in the fourth quarter, we have successfully broadened our base of installations in a EMEA and that is visible in the 112% revenue growth in Q4.
Thirdly, C-RAD sees an untapped potential in both advanced and developing markets which we want to capture.
And also, for this quarter, we had us retrofit wins on variant Linux.
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