Stille AB: Interim Report Q2 2021

Stille AB (publ) publishes the report for the second quarter and first half of 2021. “A historically strong second quarter with growth in all markets which we operate”, comments CEO Hanna Ernestam Wilkman.

Revenues for the second quarter increased by 39 percent to 40.6 MSEK (29.3) and operating profit to 5.2 MSEK (-1.5) compared to previous year. The growth is applicable to both Surgical Instruments (44 percent) and C-arm Tables (35 percent). 

“I am pleased to see that demand for our products is returning in all markets where we are active, and it is particularly positive that the growth for both business units is the strongest on the strategically important US market”, says CEO Hanna Ernestam Wilkman.

Shortly after the end of the second quarter, Stille acquired Suisse S&T AG, a company that develops, manufactures, and markets microsurgical instruments.
    
“S&T AG meets our high expectations regarding profitability and growth potential. This acquisition is a strong complement to Stille’s product portfolio for microsurgery, while S&T AGs distribution network complement Stille’s sales channels very well. With the acquisition we double the size of our Surgical Instruments business unit. The 180th business year is undeniably a milestone in Stille’s growth journey and I am very optimistic about the future”, notes Stille’s CEO.

Strong Growth In All Markets

• Revenues amounted to 40.6 MSEK (29.3). 
• Gross margin amounted to till 45.4 percent (28.9). 
• Operating profit amounted to 5.2 MSEK (-1.5), equal to an operating margin of 12.7 percent (-5.1). The operating profit was impacted with -0,8 MSEK (0.0) in transaction costs.
• Net income amounted to 2.7 MSEK (-2.0), equal to 6.7 percent (-7.0) of revenues.
• Cashflow from current operations amounted to -3.0 MSEK (0.6).

Torshälla, July 16th, 2021.