Q3 2024 Medistim ASA Earnings Call Transcript
Key Points
- Medistim ASA (FRA:MD1) reported a 7% growth in sales in Norwegian currency for the third quarter, with a total sales growth of 5.3% when accounting for currency effects.
- The Americas region showed a robust recovery with a 17.3% increase in sales, currency neutral, for the third quarter.
- Year-to-date, the Americas region has shown a 6.3% growth, and the EMEA region has shown the highest growth percentage at 6.8%.
- Third-party products experienced significant growth, with a 14% increase year-to-date.
- The company has a solid cash position, ending the period with NOK127.3 million in cash.
- Operating profit (EBIT) is slightly down compared to the previous year, largely due to product mix and costs from establishing new direct market operations.
- The Asia Pacific region experienced a decline in sales, particularly due to low sales to Japan and the transition in China.
- There is a declining trend in the unit sales of imaging systems, with 15 fewer units sold this quarter.
- Net finance is negative due to foreign currency effects, impacting the overall financial results.
- The earnings per share are down compared to the same period last year, reflecting weaker EBIT performance.
Good morning, everyone, and welcome to Medistim's Third Quarter and Year-to-Date September Financial Results Presentation. So, my name is Kari Krogstad and together with CFO, Thomas Jakobsen, we will be very happy to take you through the results.
And just before we get started here, just want to remind everyone of our track record and our ambition, which is to continue to deliver profitable growth as we've seen that we've done in the past. So with a growth in sales of around 10% annually.
But let's look at the third quarter results. So in this third quarter, we are delivering 7% growth in Norwegian currency. And taking into account the currency effect here, we see a total sales growth of 5.3%. So this means that sales growth has been gradually increasing during the first quarter this year, both in Norwegian currency and currency neutral.
But the most encouraging development this quarter is the robust recovery from our Americas sales region. So we can see that Americas is up by 17.3% currency neutral this quarter.
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