Interim report, May–October 2022/23
Product launches and Cost- reduction Initiatives on track
The uncertain macroeconomic environment and supply chain challenges continued to impact our installations, costs and margins in the second quarter. At the same time, we saw revenue growth in Europe and the U.S., as well as in Service. Elekta successfully launched key products that will support profitable growth going forward. Our Cost-reduction Initiative also progressed well during the quarter.
Gustaf Salford
President and CEO
Second quarter
- Gross order intake amounted to SEK 4,598 M (4,045), corresponding to a 6 percent decrease in constant exchange rates
- Net sales were SEK 4,081 M (3,697), corresponding to a 5 percent decrease in constant exchange rates
- Adjusted gross margin amounted to 37.3 percent (38.6)
- Adjusted EBIT amounted to SEK 316 M (533), corresponding to an adjusted EBIT margin of 7.7 percent (14.4)
- Earnings per share was SEK 0.32 (1.00) before/after dilution
- Adjusted earnings per share was SEK 0.55 (1.00) before/after dilution
- Cash flow after continuous investments amounted to SEK -417 M (-17)
First six months
- Gross order intake amounted to SEK 8,468 M (8,025), corresponding to an 8 percent decrease in constant exchange rates
- Net sales were SEK 7,408 M (6,707), corresponding to a 1 percent decrease in constant exchange rates
- Adjusted gross margin amounted to 38.1 percent (37.9)
- Adjusted EBIT amounted to SEK 447 M (734), corresponding to an adjusted EBIT margin of 6.0 percent (10.9)
- Earnings per share was SEK 0.47 (1.33) before/after dilution
- Adjusted earnings per share was SEK 0.74 (1.33) before/after dilution
- Cash flow after continuous investments amounted to SEK -1,010 M (-360)
| Group summary | Q2 | First six months | ||||||
| SEK M | 2022/23 | 2021/22 | Δ | 2022/23 | 2021/22 | Δ | ||
| Gross order intake | 4,598 | 4,045 | -6% | 1 | 8,468 | 8,025 | -8% | 1 |
| Net sales | 4,081 | 3,697 | -5% | 1 | 7,408 | 6,707 | -1% | 1 |
| Gross margin | 36.2% | 38.6% | -2.4 ppts | 37.4% | 37.9% | -0.6 ppts | ||
| Adjusted gross margin 2 | 37.3% | 38.6% | -1.3 ppts | 38.1% | 37.9% | 0.1 ppts | ||
| EBIT | 199 | 533 | -63% | 316 | 734 | -57% | ||
| Adjusted EBIT 3 | 316 | 533 | -41% | 447 | 734 | -39% | ||
| EBIT margin | 4,9% | 14,4% | -9.5 ppts | 4,3% | 10,9% | -6.7 ppts | ||
| Adjusted EBIT margin 3 | 7,7% | 14,4% | -6.7 ppts | 6,0% | 10,9% | -4.9 ppts | ||
| Cash flow 4 | -417 | -17 | -2,362% | -1,010 | -360 | -181% | ||
| Earnings per share, SEK 5 | 0,32 | 1,00 | -68% | 0,47 | 1,33 | -64% | ||
| Adjusted earnings per share, SEK 5 6 | 0,55 | 1,00 | -45% | 0.74 | 1,33 | -45% | ||
1 Compared to last fiscal year based on constant exchange rates.
2 Adjusted gross margin = Gross margin excluding items affecting comparability attributable to the Cost-reduction
Initiative within the Resilience and Excellence Program, see page 29.
3 Adjusted EBIT = Operating income (EBIT) excluding items affecting comparability attributable to the Cost-reduction
Initiative within the Resilience and Excellence Program, see page 29.
4 After continuous investments.
5 Before/after dilution.
6 Adjusted earnings per share = Net income attributable to Parent Company shareholders, excluding items affecting
comparability attributable to the Cost-reduction Initiative, in relation to the weighted average number of shares
(excluding treasury shares), see page 29.
# # #
For further information, please contact:
Tobias Hägglöv, CFO
Tel: +46 76 107 4799, e-mail: tobias.hagglov@elekta.com
Time zone: CET: Central European Time
Cecilia Ketels, Head of Investor Relations
Tel: +46 76 611 76 25, e-mail: cecilia.ketels@elekta.com
Time zone: CET: Central European Time
About Elekta
As a leader in precision radiation therapy, Elekta is committed to ensuring every patient has access to the best cancer care possible. We openly collaborate with customers to advance sustainable, outcome-driven and cost-efficient solutions to meet evolving patient needs, improve lives and bring hope to everyone dealing with cancer. To us, it's personal, and our global team of 4,700 employees combine passion, science, and imagination to profoundly change cancer care. We don’t just build technology, we build hope. Elekta is headquartered in Stockholm, Sweden, with offices in more than 120 countries and listed on Nasdaq Stockholm. For more information, visit elekta.com or follow @Elekta on Twitter.