The second quarter was characterized by our major delivery projects and transformation efforts.
Significant events for the period April - June 2024
- The contract for the delivery of MobiMed ePR to Region Norrbotten has been signed by both parties. It covers all of the region's ambulance vehicles and has a duration of five years, with the possibility of annual extensions for an additional five years. The estimated order value is 6.0 MSEK for the initial period, with an additional 4.5 MSEK upon contract extension.
- Region Örebro län has awarded Ortivus a contract for the delivery of MobiMed enRoute to the region's ambulance service. The value of the delivery is estimated at 8.3 MSEK, with a contract duration of 5 years and the possibility of annual extensions for an additional 5 years.
Significant events after end of the period
- Joanna Daffy Tiitus has chosen to step down from her role as Marketing and Communications Manager at Ortivus, as well as her position as a member of the company's management team.
- Ortivus has recruited Johan Wewel as the new Chief Financial Officer and member of the company's management team.
- Ortivus has expanded its credit facility agreement with its main shareholder, Ponderus Invest. The new credit facility now totals 25 MSEK, of which 10 MSEK has been utilized.
April - June 2024
- Net sales amounted to 17.7 (20.7) MSEK.
- The gross margin amounted to 30% (37%).
- The net income after tax amounted to -8.3 (-4.8) MSEK.
- Earnings after tax per share before and after dilution amounted to -0.19 (-0.11) SEK.
- Operating cash flow before changes in working capital amounted to -8.8 (-4.3) MSEK.
January - June 2024
- Net sales amounted to 39.7 (48.7) MSEK.
- The gross margin amounted to 36% (43%).
- The net income after tax amounted to -10.5 (-4.6) MSEK.
- Earnings after tax per share before and after dilution amounted to -0.24 (-0.10) SEK.
- Operating cash flow before changes in working capital amounted to -9.4 (-2.8) MSEK.
| Apr-Jun 2024 | Apr-Jun 2023 | Jan-Jun 2024 | Jan-Jun 2023 | Jan-Dec 2023 | |
| Net sales (MSEK) | 17.7 | 20.7 | 39.7 | 48.7 | 84.7 |
| Gross margin (%) | 30% | 37% | 36% | 43% | 37% |
| Operating profit (MSEK) | -7.8 | -4.7 | -9.9 | -4.2 | -17.6 |
| Operating margin (%) | -44% | -23% | -25% | -9% | -21% |
| EBITDA (MSEK) | -7.7 | -3.5 | -9.1 | -2.0 | -11.9 |
Contacts
For further information, please contact
Gustaf Nordenhök, CEO
Telefon +46 8 446 45 00
About Ortivus
Ortivus develops and commercialises MobiMed, e-health and medical technology solutions for a safer and more efficient healthcare. The company was founded in 1985 and is today a leading provider of mobile digital solutions for prehospital care, worldwide. Ortivus' innovations are based on in-depth expertise in cardiology as well as decades of development together with users and customers. The company's headquarters are located in Danderyd, Stockholm. The company has, since 1998, a wholly owned subsidiary based in the United Kingdom and since 2022, a wholly owned subsidiary based in Denmark.
MobiMed is a modular platform that connects and enable real-time information sharing throughout the prehospital care chain. It is currently used by over 12,000 paramedics in over 2,700 emergency vehicles. The platform, MobiMed, consists of several product modules that are completely integrated but can also be used stand-alone. MobiMed comprises four main solutions: MobiMed Monitor, that measures, monitors and shares patients' vital parameters and ECG in real-time, MobiMed ePR, - an electronic patient record for decision support, collection of patient data and clinical documentation, MobiMed enRoute, - a tool for navigation and case management, and MobiMed Life - a range of stand-alone defibrillators.
MobiMed saves vital seconds and enable healthcare professionals make the right decisions in critical situations. MobiMed also contributes to improved quality of care and saved resources.
Ortivus Class A and Class B shares are listed on the NASDAQ Stockholm Small Cap list.
Read more about Ortivus at www.ortivus.com
This information is information that Ortivus is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-23 08:30 CEST.
