Q2 2024 Medistim ASA Earnings Call Transcript
Key Points
- Medistim ASA (FRA:MD1) achieved its best quarterly sales results with a revenue of almost NOK145 million, marking a growth of 5.5%.
- The EBIT margin has improved significantly from 16.4% in the fourth quarter of last year to 28.5% in the second quarter of 2024.
- The third-party product portfolio showed strong performance, growing 17.7% in the second quarter.
- The Americas region, particularly Canada and Latin America, showed positive growth, contributing significantly to sales.
- The company maintains a solid cash position with NOK107 million after a dividend payout, indicating strong financial health.
- Operating profit (EBIT) is slightly down compared to last year, ending at NOK41.3 million.
- Asia Pacific sales are down 15% due to the transition from distributor to direct operations, impacting overall growth.
- Increased operating expenses due to the establishment of direct sales operations in China, Canada, and Sweden.
- Inventory levels have increased due to securing end-of-life components and previous supply chain issues.
- Cash flow from operations is down, influenced by prepayment of taxes and increased working capital driven by inventory.
So a very good morning from Medistim headquarter in Oslo, and we are welcoming everyone on this Friday, the August 16, to the second quarter and first half 2024 financial results. My name is Kari Krogstad, and together with CFO, Thomas Jakobsen. We are going to take you through the highlights of the quarter and the first half, then we'll go through the financial statements, provide more comments into the various business segments and then wrap up with reiterating our strategy.
So Medistim goal and ambition has been and still is to deliver profitable growth consistently over time. And our track record shows that we have succeeded to deliver on this promise over the years with sales growth around 10%.
We aim to deliver growth every single quarter. But as you saw in the fourth quarter last year, this is not always possible. So in the first quarter, we came back with a growth of 3.5%. And this second quarter we continued the improvement.
So for the second quarter, we did delivering a revenue of almost NOK145 million.
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
