The operating result showed a turnaround to profitability.
Turnover rose 87.0 percent to SEK 158.2 million (84.6). In constant currencies, the increase was 76 percent.
“Strong sales growth was driven by increased Cerament usage among existing and new customers within EUROW and North America, and the continued successful launch of Cerament G in the US”, commented the CEO. Emil Billback.
Gross profit was SEK 145.8 million (76.8), gross margin 92.2 percent (90.8).
Operating profit was SEK 14.9 million (-13.9), operating margin 9.4 percent.
Profit after tax was SEK 228.8 million (-15.0).
Earnings per share ended at SEK 3.47 (-0.23).
Cash flow from current operations is SEK 16.4 million (9.8).
A combination of a doctor’s strike in Great Britain, the holiday season and staff shortages at hospitals across Europe resulted in slightly lower numbers of orthopedic procedures than usual, Billback notes.
The company plans to submit a 510(k) application for expanded use of Cerament G for trauma/open fracture in the fourth quarter. FDA’s communication goal is a three-month processing time.
| Net sales | 158.2 | 84.6 | 87.0% |
| Gross profit | 145.8 | 76.8 | 89.8% |
| gross margin | 92.2% | 90.8% | |
| Operational results | 14.9 | -13.9 | |
| operating margin | 9.4% | ||
| Net result | 228.8 | -15.0 | |
| Earnings per share, SEK | 3.47 | -0.23 | |
| Cash flow from current operations | 16.4 | 9.8 | 67.3% |
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