Q4 2024 RaySearch Laboratories AB (publ) Earnings Call Transcript
Key Points
- RaySearch Laboratories AB (RSLBF) achieved record sales for the fourth quarter, reaching SEK323 million, an 8% increase compared to the same period in 2023.
- The company reported an operating profit of SEK74 million, corresponding to an operating margin of 23%, driven by increased license revenue.
- RaySearch Laboratories AB (RSLBF) has a strong cash position of SEK463 million, stable cash flow, and no loans, allowing for a proposed dividend increase from SEK2 to SEK3 per share.
- The company has been a pioneer in proton arc therapy, with the Trento Proton Therapy Center in Italy becoming the first in the world to introduce discrete proton-arc treatments.
- RaySearch Laboratories AB (RSLBF) expanded its product offering by acquiring DrugLog, a quality assurance system for chemotherapy, complementing its existing portfolio.
- Order intake for the fourth quarter decreased by 4% from the previous year, with license order intake down 1% and support order intake down 5%.
- The cash flow from operations decreased to SEK103 million in the quarter compared to SEK116 million last year, affected by fluctuations in contract assets and liabilities.
- The company experienced a 26.5% downturn in sales in Europe and Africa for Q4 2024, attributed to fluctuations in order volumes across regions.
- RaySearch Laboratories AB (RSLBF) faces challenges in converting order intake to revenue, as seen with the Ortega order, which has yet to generate revenue.
- There is a weak correlation between order intake and sales growth, as order intake and revenue often occur in the same quarter, complicating revenue forecasting.
Welcome to the presentation of RaySearch year-end. In today's call is Johan Löf, RaySearch's founder and CEO; and also Nina Grönberg, RaySearch's new CFO. Welcome, Nina.
Summary of the quarter, including the financials and after [orally] or in writing. I also want to remind you that this this session is recorded. And you can find it through the same link as you used for this Teams meeting and on RaySearch website.
And for that, I hand over to you. Johan, go ahead.
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I would like to start by welcoming all of you to today's webcast, and also by welcoming Nina, who recently joined us here at RaySearch as CFO.
I'm happy to announce that our sales for the fourth quarter were our highest ever, SEK323 million, an increase of 8% compared to the same period in 2023. Operating profit was SEK74 million corresponding to an operating margin of 23%.
The improved margin was mainly driven by increased license
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