Growth and improved margins

Demand for radiotherapy continued to improve in the quarter and supported our order growth. We managed the supply chain challenges well and strong installation volumes at the end of the quarter increased revenue. The Cost-reduction Initiative is progressing according to plan, supporting profitable growth going forward.

Gustaf Salford
President and CEO

Third quarter
• Gross order intake amounted to SEK 5,316 M (4,441), corresponding to a 9 percent increase in constant exchange rates
• Net sales were SEK 4,337 M (3,602), corresponding to an 8 percent increase in constant exchange rates
• Adjusted gross margin amounted to 38.4 percent (36.7)
• Adjusted EBIT amounted to SEK 463 M (340), corresponding to an adjusted EBIT margin of 10.7 percent (9.4)
• Earnings per share was SEK 0.57 (0.60) before dilution and SEK 0.56 (0.60) after dilution
• Adjusted earnings per share was SEK 0.84 (0.60) before dilution and SEK 0.83 (0.60) after dilution
• Cash flow after continuous investments amounted to SEK -163 M (187)

First nine months
• Gross order intake amounted to SEK 13,785 M (12,467), corresponding to a 2 percent decrease in constant exchange rates
• Net sales were SEK 11,745 M (10,309), corresponding to a 2 percent increase in constant exchange rates
• Adjusted gross margin amounted to 38.2 percent (37.5)
• Adjusted EBIT amounted to SEK 911 M (1,074), corresponding to an adjusted EBIT margin of 7.8 percent (10.4)
• Earnings per share was SEK 1.04 (1.93) before dilution and SEK 1.04 (1.93) after dilution
• Adjusted earnings per share was SEK 1.58 (1.93) before dilution and SEK 1.58 (1.93) after dilution
• Cash flow after continuous investments amounted to SEK -1,174 M (-173)

Significant events

Third quarter
First patient treated with motion management using Unity
In December, the first patients completed their full course of radiation therapy treatment with Elekta Unity MR-Linac using Comprehensive Motion Management (CMM) with True Tracking and automatic gating functionalities at University Medical Center (UMC) Utrecht. 

Second quarter[1]
• Elekta’s Nomination Committee for AGM 2023
• Elekta Care 360 launched
• CE mark for CMM with True Tracking and automatic gating
• Elekta wins majority of Italian public tender
• Elekta Esprit receives CE mark and FDA clearance
• AGM 2022 approves dividend and new Board member
• Changes in Executive Management (Andrew Wilson, Karin Svenske Nyberg)

First quarter1
• New radiosurgery system Elekta Esprit launched
• Elekta and the Netherlands Cancer Institute to co-develop the next generation of radiotherapy solutions
• Elekta's Nomination Committee’s proposal to the AGM
• Changes in Executive Management (Carlos Castilleja)

[1] For more details about the previous significant events please see respective quarterly report.

1 Compared to last fiscal year based on constant exchange rates.
2 Adjusted gross margin = Gross margin excluding items affecting comparability attributable to the Cost-reduction
Initiative within the Resilience and Excellence Program, see page 26.
3 Adjusted EBIT = Operating income (EBIT) excluding items affecting comparability attributable to the Cost-reduction
Initiative within the Resilience and Excellence Program, see page 27.
4 Adjusted earnings per share = Net income attributable to Parent Company shareholders, excluding items affecting
comparability attributable to the Cost-reduction Initiative, in relation to the weighted average number of shares
(excluding treasury shares), see page 27.

# # #

For further information, please contact:
Cecilia Ketels, Head of Investor Relations
Tel: +46 76 611 76 25, e-mail: cecilia.ketels@elekta.com
Time zone: CET: Central European Time

Tobias Hägglöv, CFO
Tel: +46 76 107 47 99, e-mail: tobias.hagglov@elekta.com
Time zone: CET: Central European Time

About Elekta
As a leader in precision radiation therapy, Elekta is committed to ensuring every patient has access to the best cancer care possible. We openly collaborate with customers to advance sustainable, outcome-driven and cost-efficient solutions to meet evolving patient needs, improve lives and bring hope to everyone dealing with cancer. To us, it's personal, and our global team of 4,700 employees combine passion, science, and imagination to profoundly change cancer care. We don't just build technology, we build hope. Elekta is headquartered in Stockholm, Sweden, with offices in more than 40 countries and listed on Nasdaq Stockholm. For more information, visit elekta.com (http://www.elekta.com/) or follow @Elekta (https://twitter.com/Elekta) onTwitter.