SIGNIFICANT EVENTS DURING THE FORTH QUARTER 2024 (OCT – DEC)

• Mentice announced the recruitment of Frans Venker as new CEO, starting Jan 1, 2025.
• The order intake during the quarter increased due to large orders received and announced:
  • A significant order from a top 20 global Med Tech company of 630,000 USD.
  • A significant order from a top 20 global Med Tech company of 1,062,750 EUR.
  • A significant order from a top 20 global Med Tech company of 912,200 USD.
• Mentice launched a patient-specific simulation product, the VIST®/Ankyras® integration, allowing physicians to rehearse a procedure based on the results of an Ankyras® simulation.

SIGNIFICANT EVENTS AFTER END OF PERIOD

• Mentice announced a significant order from a top 20 global Med Tech company of 648,410 USD.

FOURTH QUARTER (OCT- DEC 2024)

• Order intake amounted to 108.7 (103.9) MSEK, an increase of 5%.
• Net sales amounted to 86.2 (70.4) MSEK, an increase of 22.4%, whereof 21.4% organic, 1.2% acquired and -0.2% currency effect.
• Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to 16.6 (2.3) MSEK.
• EBITDA adjusted for one-time costs amounts to 24.1 (2.3) MSEK.
• Net income for the period amounted to 2.0 (-2.8) MSEK.
• Earnings per share (EPS) were 0.08 (-0.11) SEK.
• Cash flow from operating activities amounted to 13.4 (-8.3) MSEK.

 
FULL-YEAR (JAN – DEC 2024)

• Order intake amounted to 278.9 (304.2) MSEK, a decrease of -8%.
• The order book by the end of the period was 138 (156) MSEK, a decrease of -12%.
• Net sales amounted to 290.3 (273.6) MSEK, an increase of 6.1%, whereof 5.3% organic, 1.4% acquired and -0.6% currency effect.
• Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to 16.6 (24.2) MSEK.
• EBITDA adjusted for one-time costs amounts to 24.1 (24.2) MSEK.
• Net income for the period amounted to -18.4 (-2.8) MSEK.
• Earnings per share (EPS) were -0.72 (-0.11) SEK.
• Cash flow from operating activities amounted to 17.9 (36.5) MSEK.

 
CEO Frans Venker Comments:

Q4 marked a strong quarter to finishing the year, delivering solid performance across the board, with strong cash flow in the quarter. Order intake increased 5% year-over-year to 109 MSEK, while revenue grew 22% to 86 MSEK. EBITDA showed significant improvement, reaching 17 MSEK compared to 2 MSEK in Q4 2023.

We are maintaining our overall strategy while putting efforts into operational and commercial execution. Our primary focus remains on both the Medical Device Industry and on strengthening our position in Healthcare Systems. Through our Strategic Alliances, we continue leveraging our unique interface with Image Guided Therapy lab providers to drive growth.

Key near-term priorities include completing the integration of our acquisitions in physical simulation and therapy support to maximize their value contribution. We are also strengthening our commercial organization, particularly in the US market, to capitalize on our pipeline of opportunities.

Our R&D investments continue to focus on maintaining our technology leadership position, while we optimize operations across the organization to improve efficiency and financial performance. With a strong organization, we will continue developing our talent base to support our growth ambitions. In my first months, I will conduct a thorough review of our organization and operations to identify additional opportunities for growth and value creation.

Webcast presentation of the year-end report
The Year-end Report Q4 for the period October – December 2024 will be presented by CEO Frans Venker and CFO Ulrika Drotz on February 13, 2025, at 11:00 CET. The live broadcast is followed by a Q&A moderated by Carnegie’s analyst Rikard Engberg.

The presentation will be held in English.

For more information on how to register, please visit https://investor.mentice.com/.