LINKÖPING, Sweden, Sept. 4, 2020 /PRNewswire/
-- International medical imaging IT and cybersecurity
company Sectra's (STO: SECT B) highest priority is to
help customers give patients the best possible care and to protect
critical infrastructure and communication where society is the most
vulnerable. Demand for the company's services and products remained
high during the first quarter and order bookings more than doubled
compared with the year-earlier period. Aside from the typical
seasonal effects, sales and profit were affected by the ongoing
pandemic. With a strong financial position, positive cash flow and
significant recurring revenue, Sectra is relatively well equipped
to continue managing the pandemic but will, like others, be
affected by it.
First quarter in figures
- Order bookings increased 156.5% to SEK
612.3 million (238.7). Of the order bookings during the
quarter, 12% were recognized during the quarter and a further
estimated 24% to 34% pertains to revenue within 12 months after the
end of the quarter.
- Net sales amounted to SEK 298.9
million (332.8). Adjusted for currency fluctuations, net
sales amounted to SEK 306.8
million.
- Operating profit totaled SEK 27.4
million (29.4), corresponding to an operating margin of 9.2%
(8.8). Adjusted for currency fluctuations, operating profit
amounted to SEK 29.8
million.
- Profit before tax amounted to SEK 21.4
million (30.6).
- Cash flow improved and after changes in working capital
amounted to SEK 85.5 million (neg:
28.0).
Comments from Torbjörn Kronander, President and CEO of Sectra
AB
"Our customers and employees are doing a fantastic job maintaining
society's critical functions and meeting the needs arising during
the difficult circumstances brought about by the pandemic. New
working methods have been introduced, and on several occasions, we
have delivered new functionality that helps customers meet their
challenges."
"The pandemic has not stopped us from expanding the Sectra
family with new customers during the quarter. Both Imaging IT
Solutions and Secure Communications reported significantly
increased order bookings, which contributed to more than doubling
the Group's order bookings compared with the year-earlier quarter.
As expected, our sales volume was lower than the comparative
period, primarily due to delays caused by the pandemic.
Additionally, a stronger Swedish krona led to a weaker outcome. The
pandemic and currency fluctuations have had the largest effect on
the outcomes in Imaging IT Solutions and Business Innovation, while
Secure Communications reported sales growth. However, reduced
travel, among other factors, entailed reductions in certain expense
items. The Group reported a currency-neutral operating profit on
par with the comparative quarter, which we are pleased with given
the current situation."
"Recent customer satisfaction surveys conducted in the US
established that Sectra has performed well during the pandemic,
further increasing the already-high levels of customer
satisfaction. This shows that our corporate culture is strong and
that we have fantastic employees. With satisfied customers, a
strong balance sheet, a positive cash position and significant
recurring revenue, we are relatively well equipped to manage the
high level of uncertainty in the world."
See the attached interim report for further CEO comments and
information.
Presentation of the interim report
Torbjörn Kronander, President and CEO of Sectra AB, and Mats
Franzén, CFO of Sectra AB, will present the financial report and
answer questions. The presentation will be held in English.
Time: September 4, 2020 at
10:00 a.m. (CEST)
To participate, follow online at
investor.sectra.com/q1report2021 or call one of the following
numbers five to ten minutes before the conference begins:
SE: +46850558374
UK: +443333009031
US: +18335268397
This information constitutes information that Sectra AB
(publ) is obliged to make public pursuant to the EU Market Abuse
Regulation and/or the Swedish Securities Markets Act. The
information was submitted for publication, through the agency of
the contact person set out below, at 08:15
a.m. (CEST) on September 4,
2020.
About Sectra
Sectra assists hospitals throughout the world to enhance the
efficiency of care, and authorities and defense forces in
Europe to protect society's most
sensitive information. Thereby, Sectra contributes to a healthier
and safer society. The company was founded in 1978, has its head
office in Linköping, Sweden, with
direct sales in 19 countries, and operates through partners
worldwide. Sales in the 2019/2020 fiscal year totaled
SEK 1,661 million. The Sectra
share is quoted on the Nasdaq Stockholm exchange. For more
information, visit https://sectra.com/.
CONTACT:
For further information, please contact:
Dr. Torbjörn Kronander, President and CEO, Sectra AB, +46 (0)
705 23 52 27
This information was brought to you by Cision
http://news.cision.com
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The following files are available for download:
https://mb.cision.com/Main/1263/3188072/1302213.pdf
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Sectra™s three-month
interim report 2020/2021
|
https://news.cision.com/sectra/i/sectra-s-digital-pathology-solution,c2821532
|
Sectra's digital
pathology solution
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https://news.cision.com/sectra/i/sectra-communications,c2821533
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Sectra
Communications
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https://news.cision.com/sectra/i/torbjorn-kronander--sectra-ab,c2821534
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Torbjörn Kronander,
Sectra AB
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