Stille (STIL) Q4 2024 earnings summary

Executive summary

• Achieved strong growth in Q4 2024, with net sales up 106.8% year-over-year to MSEK 159.8, driven by organic growth and the Fehling acquisition.

• Gross margin improved to 57.1% from 45.6% year-over-year, reflecting operational improvements and favorable sales mix.

• Completed integration of Fehling, expanded acquisition pipeline, and launched imagiQ3 surgical table.

• Strategic review led to phasing out the GS2 table platform, resulting in a non-cash impairment of MSEK 24.1.

Financial highlights

• Full-year net sales reached MSEK 569.9, up 93.3% from MSEK 294.9 in 2023; organic growth was 8.3%.

• EBITDA before non-recurring items for Q4 was MSEK 45.4 (28.4% margin), and for the year MSEK 145.2 (25.5% margin).

• EBIT before non-recurring items for Q4 was MSEK 35.5 (22.2% margin); full-year EBIT before non-recurring items was MSEK 114.9 (20.2% margin).

• Profit after tax for Q4 was MSEK 15.0 (up from 7.6); full-year profit after tax was MSEK 58.2 (up from 26.6).

• Earnings per share for Q4 was SEK 1.66 (1.52); full-year EPS was SEK 6.48 (5.31).

• Operating cash flow for Q4 was MSEK 49.6 (7.3); full-year operating cash flow was MSEK 73.5 (37.3).

Outlook and guidance

• Focus remains on premium surgical instruments and C-arm tables, with continued investment in the U.S. market and capacity expansion to meet demand.

• No dividend proposed for 2024 to prioritize future acquisitions.

• Monitoring potential U.S. trade regulation and tariff changes that could impact business.