Global 
Sverige 
USA Stille AB: First Quarter 2020
The otherwise often stable business area Surgical Instruments grew by 8 percent compared to previous year, mostly attributed to increased sales in the US. While the quarter started off strong, sales were negatively affected in March due to market realignment from surgery to intensive care. Together, this amounted to a revenue of 36.8 MSEK for the first quarter.
It is great to see the progress made in the Surgical Instrument business area in the US, but I want to underscore that the challenges are still ahead of us, comments Hanna Ernestam Wilkman and elaborates. As Stille’s products have an emphasis toward the operating room, which is currently paused to provide extra resources to intensive care, we are now seeing a reduced demand for our products. As such, we are repeating the earlier communicated forecast that sales, results and cashflow is expected to be significantly lower than previous year. It is difficult to forecast further than that, adds Stille’s CEO.
Several measures have been taken to balance the effects of a reduced demand, for example, implementing short-time work. Simultaneously, the company is working together with subcontractors, partners and distributors to ensure the company’s ability to deliver when the pandemic fades. Stille continues to prioritize their product development to ensure continued product leadership.
We have challenging times ahead of us and it is important for us to focus on our employees’ health and employment. Our financial situation remains strong, as does the demand for our products in the long-term, concludes Hanna Ernestam Wilkman.
Summary: First Quarter 2020
- Revenues amounted to 36.8 MSEK (38,4).
- Gross margin amounted to till 39,8 procent (43,7).
- Operating profit amounted to 4,7 MSEK (7,6), equal to an operating margin of 12,9 procent (19,9).
- Net income amounted to 4,4 MSEK (6,0), equal to 11,9 procent (15,6).
- Cashflow from current operations amounted to 0,5 MSEK (-0,6).
- Postponed annual meeting and withdrawal of earlier proposed dividends due to COVID-19.
| MSEK | jan-mar 2020 |
jan-mar 2019 | apr-mar 2019/2020 | jan-dec 2019 |
| Revenue, MSEK | 36,8 | 38,4 | 155,1 | 156,7 |
| Operating margin, % | 12,9 | 19,9 | 16,5 | 18,2 |
| Operating profit | 4,7 | 7,6 | 25,6 | 28,5 |
| EBIT, MSEK | 5,6 | 7,9 | 26,5 | 28,8 |
| Net income, MSEK | 4,4 | 6,0 | 21,3 | 22,9 |
| Earnings per share, SEK | 0,91 | 1,24 | 4,4 | 4,74 |
Torshälla, April 29th 2020
