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Ortivus AB (publ) interim report for the period July – September 2021

Ortivus expands into new markets

Highlights July – September 2021

  • Ortivus received an additional order from ST Engineering in Singapore regarding additional licenses and software adaptations. Ortivus signed a contract with ST Engineering in 2019 regarding the delivery of the MobiMed software for Singapore's ambulance service, to an order value of 27.0 MSEK. This additional order has a value of 11.7 MSEK.
  • Ortivus was awarded a contract for delivery of semi-automatic defibrillators for Region Jönköpings län's hospital operations. The value of the delivery is estimated to be 1.7 MSEK.
  • Region Örebro Län decided to prolong existing contract regarding MobiMed ePR. The total order value is 2.0 MSEK.
  • Fredrik Hovbäck ended his employment in the company and Margareta Hagman took over as interim CFO. The recruitment of a permanent CFO has been initiated.

Significant events after end of the period

  • Ortivus was awarded an additional contract for delivery of semi-automatic and manual defibrillators to Region Jönköpings Län's hospital operations. The value of the delivery is estimated to be 4.5 MSEK.
  • Ortivus and Trapeze Group entered a strategic partnerships for the Australian and New Zealand markets.

July – September 2021

  • Net sales amounted to 24.5 (25.4) MSEK.
  • The gross margin rose to 51 (31)%, during the third quarter compared to the corresponding period last year.
  • Profit after tax amounted to 2.7 (1.2) MSEK.
  • Earnings after tax per share before and after dilution amounted to 0.06 (0.03) SEK.
  • Operating cash flow amounted to 6.0 (3.1) MSEK.

January – September 2021

  • Net sales amounted to 71.7 (85.7) MSEK. During the corresponding period 2020, the turnover consisted largely of one-off deliveries, which means that the periods are not directly comparable.
  • The gross margin rose to 50 (33) %, during the third quarter compared to the corresponding period last year.
  • Profit after tax amounted to 7.6 (9.1) MSEK
  • Earnings after tax per share before and after dilution amounted to 0.17 (0.20) SEK.
  • Operating cash flow amounted to 11.5 (11.4) MSEK.
Jul-Sep 2021 Jul-Sep 2020 Jan-Sep 2021 Jan-Sep 2020 Jan-Dec 2020
Net sales (MSEK) 24.5 25.4 71.7 85.7 107.6
Gross margin (%) 51% 31% 50% 33% 36%
Operating profit (MSEK) 2.7 1.2 7.6 9.2 11.4
Operating margin (%) 11% 5% 11% 11% 11%
EBITDA (MSEK) 4.1 2.0 9.6 11.4 13.9