Le Lézard
Classified in: Health, Science and technology
Subjects: CCA, ACC

Sectra's Three-month Interim Report 2019/2020: Successful Initiatives in the US, Now Sectra's Largest Market


LINKÖPING, Sweden, Sept. 3, 2019 /PRNewswire/ -- International medical imaging IT and cybersecurity company Sectra (STO: SECT B) reported growth in all operating areas during the first quarter. The fastest growth was reported by the operations in the US, where more customers chose Sectra's scalable enterprise imaging solution to create a unified strategy for medical diagnostic imaging and improved patient care.

First quarter in figures

Torbjörn Kronander, President and CEO of Sectra AB, comments

"After a year of record-high order bookings, we are reporting a more cautious beginning to 2019/2020. All operating areas are growing, we are making major investments for the future and we are following our plans. The orders from last year are now moving into the product delivery and customer deployment stage, which affected profit and cash flow for the period. This is particularly true as we needed to increase our costs (primarily on the personnel side) to manage these major deployments, yet the orders will not generate revenue until a later stage. Comprehensive and long-term customer contracts provide long-term stability, but they also lead to negative cash flows and major costs during the installation phase. The increased costs for deployment also meant that we, for the first time in a long time, did not achieve one of our financial goals during the quarter. Five-year growth in EBIT per share ended the quarter at 44% (the goal is 50%). When the installation phase is over, the costs will be replaced by revenue and positive cash flows for a long time to come."

"Within the Imaging IT Solutions operating area, the US is currently one of our fastest-growing markets. During the quarter, we received orders from new customers, including the Vanderbilt Medical Center, one of the most famous hospitals in the US. We also completed the installation at Stanford Health Care, a prestigious order that we received one year ago. Sectra's high levels of customer satisfaction and long-term work are strengthening our position, and the US has now outgrown Sweden as the Group's largest market in terms of sales."

"As for our security operations, we acquired the assets of the Swedish IT security company Columbitech AB and shares in its US subsidiary during the quarter. The acquisition is in line with our strategy to expand primarily through organic growth, supplemented by acquisitions that strengthen this organic growth. The acquisition will establish Secure Communications in the US, while also strengthening our expertise and complementing the operating area's cybersecurity products."

For further CEO comments and information, see the attached interim report.

Presentation of the interim report

A presentation will be held by Torbjörn Kronander, President and CEO of Sectra AB, and Mats Franzén, CFO of Sectra AB. The presentation will be held in English.

Time: September 3, 2019 at at 10:00 a.m. (CET).
Follow online via sectra.com/q1report2019 or call:
SE +46851999383
UK +443333009034
US +18335268380

A recorded version after the conference will also be available via this link after the conference.

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 8:15 a.m. (CET) on September 3, 2019.

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 2017/2018 fiscal year totaled SEK 1,267 million. The Sectra share is quoted on the Nasdaq Stockholm exchange. For more information, visit www.sectra.com.

For further information, please contact:
Dr. Torbjörn Kronander
CEO and President Sectra AB
+46 (0) 705-23-52-27

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/sectra/r/sectra-s-three-month-interim-report-2019-2020--successful-initiatives-in-the-us--now-sectra-s-larges,c2893597

The following files are available for download:

https://mb.cision.com/Main/1263/2893597/1099392.pdf

Sectra's three-month interim report 2019/2020

https://news.cision.com/sectra/i/sectra-tiger-r-in-smartphone-tablet,c2674378

Sectra Tiger/R in smartphone tablet

https://news.cision.com/sectra/i/torbjorn-kronander,c2674379

Torbjörn Kronander

https://news.cision.com/sectra/i/sectra-s-visualization-table-and-digital-pathology,c2674943

Sectra's visualization table and digital pathology

 

SOURCE Sectra


These press releases may also interest you

at 08:46
Airspace Experience Technologies , an aviation technology start-up, and Spirit AeroSystems, a global aircraft design and manufacturing company, have signed a memorandum of understanding and a definitive agreement to cooperate on creation of...

at 08:43
NuLife Ventures (nulifeventures.com) announces that former Major League Baseball player, Eric King has joined NuLife Ventures of Chattanooga. Mr. King became an athletic spokesperson and consumer of NuLife Ventures' acclaimed product line which...

at 08:38
On February 17, 2020, Auros Knowledge Systems released major enhancements to their knowledge-based system, Auros IQ 3, to help organizations efficiently promote data-driven, closed-loop, and continuous learning. Using AI, meaningful patterns of...

at 08:38
Projetech, a global provider of IBM Maximo as a Service (MaaS), is ringing in 2020 reflecting on 30 years in business. Founded in 1990, the business to business (B2B) SaaS company has clients all over the world in many industries. "The legacy...

at 08:38
Creatio (formerly bpm'online), a leading low-code, process automation and CRM company, is announcing ACCELERATE, a free premier gathering for IT and digital leaders, will be held in Chicago on May 7th-8th, 2020. The ACCELERATE event series gathers...

at 08:38
Studio MFP (https://studiomfp.com/) recently announced a social media marketing contest to highlight a spectrum of successful packaged services that it offers to help small businesses succeed. The contest features Studio MFP's suite of popular...



News published on 3 september 2019 at 02:31 and distributed by: