Mentice publishes the company's interim report for the period January-September 2021

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Mentice AB

28 Oct, 2021, 06:54 GMT

Continued growth through Q3 and for the year to date

STOCKHOLM, Oct. 28, 2021 /PRNewswire/ --

Third quarter (July–September 2021) and the first nine months of the year (January-September 2021)

  • Order intake amounted to 51.8 (34.6) MSEK for the third quarter and 131.9 (95.5) MSEK for the first nine months of the year.
  • Order book by the end of the period was 83.6 (43.0) MSEK.
  • Net sales amounted to 38.7 (33.4) MSEK for the third quarter and 117.4 (91.6) MSEK for the first nine months of the year.
  • Earnings before depreciations and amortisations (EBITDA) totaled -0.6 (4.1) MSEK for the third quarter and -9.6 (-8.3) MSEK for the first nine months of the year.
  • Net income for the period amounted to -6.5 (0.3) MSEK for the third quarter and -24.3
    (-16.4) MSEK for the first nine months of the year.
  • Earnings per share (EPS) was -0.29 (-0.01) SEK for the third quarter and -1.01 (-0.68) SEK for the first nine months of the year.
  • Cash flow from operating activities totaled -7.7 (-6.2) MSEK for the third quarter and -12,5 (10.5) MSEK for the first nine months of the year.

CEO Göran Malmberg comments:

"We are glad to be able to present yet another quarter with strong performance on both net sales and order intake. For the first 9 months we are 28% above the same period for last year with respect to net sales, and for order intake we are 40% above the same period last year. For the third quarter we are 16% above same period last year for net sales (26% excluding negative currency impact from USD), while our order intake is up 50% for the quarter compared to last year. The large difference between order intake and net sales for the quarter can be explained by delays in deliveries impacting net sales negatively with about 6 MSEK. These orders will be delivered in Q4. This lag in revenue, as well as higher personnel costs, has had a negative impact on our profitability and our cash flow for the quarter.

The Medical Device Industry is still the main driver for growth, and we see now that the hospital market is slowly getting back to normal. For the first 9 months we are 18% above last year in net sales for the Healthcare Systems segment but still below the levels from 2019. Our order book is growing quarter by quarter, and it is now 84 MSEK with about 30 MSEK planned for the remainder of 2021."

Webcast presentation of the interim report

Mentice's interim report for January–September 2021 will be presented by CEO Göran Malmberg with the possibility to ask questions on October 28, 2021 at 09:30 CET. The presentation will be held via the web and in English.

To register for the presentation, please visit www.mentice.com/financial-reports-presentations.

Please make sure to register at least a few minutes in advance.

For more information, please contact:

Göran Malmberg, CEO, Mentice
Email: goran.malmberg@mentice.com
US Mobile. +1 (312) 860 5610
Sweden Mobile +46 (0) 703 09 22 22

About Mentice

Mentice is the world leader in software and hardware simulation solutions for endovascular therapies. Our solutions help healthcare professionals acquire, retain, and enhance their procedural skills driving improved productivity and outcomes. Mentice solutions are scientifically validated and have been specifically developed for healthcare providers and the medical device industry. Neurovascular, cardiovascular and peripheral interventions are just some of the clinical areas covered by our solutions. More information on www.mentice.com

This information is information that Mentice AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person, at 08.30 CET on October 28, 2021.  

Marketplace| Nasdaq First North Growth Market, Stockholm | Ticker symbol MNTC

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