Q4 2024 Medistim ASA Earnings Call Transcript
Key Points
- Medistim ASA (STU:MD1) reported an all-time high sales for the fourth quarter, reaching NOK151.1 million, an 11.4% increase over the same quarter last year.
- The Americas region showed impressive growth, with a 30% increase in currency-neutral sales for the quarter.
- The company launched the new INTUI software, which is expected to enhance clinical decision-making and improve user experience.
- Medistim ASA's cash flow from operations increased significantly from NOK115 million to NOK141.5 million, indicating strong financial health.
- The Board of Directors proposed a dividend of NOK6 per share, reflecting confidence in the company's future performance.
- The Asia Pacific region experienced a 24% decline in sales for the quarter, primarily due to weaker imaging sales in Japan.
- The EBIT margin decreased to 23.3% for the year, down from the previous year's margin, due to increased operating expenses and challenges in the APAC region.
- Higher operating expenses were reported due to investments in direct markets like China, Canada, and Sweden, as well as increased R&D and product innovation costs.
- The number of imaging systems sold decreased, driven by a decline in the Asia Pacific region, particularly in Japan.
- Despite overall revenue growth, the company's own product sales showed a softer development, ending at a 3.9% increase for the year.
Good morning, everyone, and welcome to Medistim's Fourth Quarter and the Full Year 2024 Preliminary Financial Results. My name is Kari Krogstad. And together with my good colleague, CFO, Thomas Jakobsen, we will take you through the results.
First of all, I would like to remind everybody that Medistim's goal and ambition remains to deliver profitable growth consistently over time. And our track record shows that we have succeeded to deliver on this promise over the years.
But let's move into the fourth quarter. So I'm very pleased to being able to report an all-time high sales for a quarter, ending at NOK151.1 million, that is an 11.4% increase over the same quarter last year. And as we can see here, the currency effect is quite modest, and that means that the currency-neutral sales is also close to 10%. We can see that our third-party products is up 10% as well, meaning that we have good performance also from our own product sales, also close to 10%.
I would particularly point to Americas, which is really
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