In our fourth quarter, we faced challenging market conditions impacting our results negatively. We concluded a year of profitable growth resulting in an expanded EBIT margin of 150 basis point and we delivered a book-to-bill ratio of 1.09 for the full year. At the recent ESTRO exhibition, we successfully launched a new market leading CT-adaptive linac, Elekta Evo, completing our comprehensive product offering.
Gustaf Salford
President and CEO
Fourth quarter
Gross order intake increased by 1 percent to SEK 6,436 M (6,359), corresponding to a 1 percent decrease in constant exchange rates
Net sales decreased by 2 percent to SEK 5,023 M (5,125), corresponding to a 2 percent decrease in constant exchange rates
Adjusted gross margin amounted to 36.6 percent (37.8)
Adjusted operating income (Adjusted EBIT) amounted to SEK 651 M (832), corresponding to an adjusted EBIT margin of 13.0 percent (16.2)
Earnings per share was SEK 1.08 (1.43) before dilution and SEK 1.08 (1.43) after dilution
Adjusted earnings per share was SEK 1.15 (1.53) before dilution and SEK 1.15 (1.53) after dilution
Cash flow after continuous investments amounted to SEK 872 M (1,574)
Full year
Gross order intake decreased by 2 percent to SEK 19,697 M (20,143), corresponding to a 5 percent decrease in constant exchange rates
Net sales increased by 7 percent to SEK 18,119 M (16,869), corresponding to a 5 percent increase in constant exchange rates
Adjusted gross margin amounted to 37.5 percent (38.1)
Adjusted operating income (Adjusted EBIT) amounted to SEK 2,145 M (1,743), corresponding to an adjusted EBIT margin of 11.8 percent (10.3)
Earnings per share was SEK 3.41 (2.47) before dilution and SEK 3.41 (2.47) after dilution
Adjusted earnings per share was SEK 3.62 (3.11) before dilution and SEK 3.62 (3.10) after dilution
Cash flow after continuous investments amounted to SEK 815 M (400)
The Board of Directors proposes a dividend of SEK 2.40 (2.40) per share (paid in two installments)
Group summary
Q4
Full year
SEK M
2023/24
2022/23
Δ
2023/24
2022/23
Δ
Gross order intake
6,436
6,359
-1%
1
19,697
20,143
-5%
1
Net sales
5,023
5,125
-2%
1
18,119
16,869
5%
1
Adjusted gross margin 2
36.6%
37.8%
-1,2 ppts
37.5%
38.1%
-0,5 ppts
Adjusted EBITDA 3
956
1,092
-12%
3,287
2,806
17%
Adjusted EBITDA-margin 3
19,0%
21,3%
-2,3 ppts
18,1%
16,6%
1,5 p.e.
Adjusted EBIT 4
651
832
-22%
2,145
1,743
23%
Adjusted EBIT margin 4
13,0%
16,2%
-3,3 ppts
11,8%
10,3%
1,5 ppts
Gross margin
36.4%
37.7%
-1,3 ppts
37.4%
37.6%
-0,2 ppts
EBITDA
930
1,069
-13%
3,189
2,596
23%
EBITDA-margin
18,5%
20,9%
-2,4 ppts
17,6%
15,4%
2,2 p.e.
EBIT
617
784
-21%
2,039
1,431
43%
EBIT margin
12,3%
15,3%
-3 ppts
11,3%
8,5%
2,8 ppts
Cash flow after continuous investments
872
1,574
-702
815
400
415
Adjusted earnings per share before/after dilution, SEK 5
1.15 / 1.15
1.53 / 1.53
-24%
3.62 / 3.62
3.11 / 3.10
17%
Earnings per share before/after dilution, SEK
1.08 / 1.08
1.43 / 1.43
-24%
3.41 / 3.41
2.47 / 2.47
38%
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 27.
3 Adjusted EBITDA = EBITDA excluding items affecting comparability attributable to the Cost-reduction Initiative within the Resilience and Excellence Program, see page 28.
4 Adjusted EBIT = Operating income (EBIT) excluding items affecting comparability, see page 28.
5 Adjusted earnings per share = Net income attributable to Parent Company shareholders, excluding items affecting comparability, in relation to the weighted average number of shares (excluding treasury shares), see page 29.
# # #
For further information, please contact:
Tobias Hägglöv, CFO
Tel: +46 76 107 4799, e-mail: tobias.hagglov@elekta.com
Time zone: CET: Central European Time
Peter Nyquist, Head of Investor Relations
Tel: +46 70 575 29 06, e-mail: peter.nyquist@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 4,500 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 or follow @Elekta on "X", formerly known as Twitter.
This information is information that Elekta 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 persons set out above, at 2024-06-05 07:30 CEST.
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Elekta Q4 23 24 English Report.pdf
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Elekta publ AB is a Sweden-based human care company that develops and sells clinical solutions for the treatment of cancer and brain disorder. The Company offers and develops systems for radiation therapy and radio-surgery, as well as software systems that enhance workflow efficiency throughout the entire spectrum of cancer care. The Company has four product areas: Elekta Neuroscience, which develops solutions for the diagnosis and treatment of neurological diseases; Elekta Oncology, which creates clinical solutions for radiation therapy, such as linear accelerators, integrated imaging systems and clinical solutions for patient positioning and immobilization; Elekta Brachytherapy, which is engaged in the treatment of cancer through internal radiation, and Elekta Software, which develops software solutions for patient information, workflow management and treatment planning in oncology. The Company owns the service business of Asesores Electronicos Especializados SA de CV (AEESA).