Mentice publishes the company's interim report for the period January - March 2024.

Slower start of the year while ambition still in line with financial targets.

Significant events during the first quarter 2024 (Jan - Mar)

Mentice has received a major repeat order from a world-leading medical technology company.

Mentice performed its first Capital Market Day on March 21 in Stockholm.

Mentice presented revised Financial Targets during the Capital Markets Day.

Financial targets

Growth

20-30% annual growth in net sales.

Profitability

To reach a 20% EBITDA margin within three years with a longer-term target of 30%.

FIRST QUARTER 2024 (JAN - MAR)

Order intake amounted to 38 (58) MSEK, a decrease of -34.2%, of which -0.1% was related to the currency effect.

The order book by the end of the period was 146.9 (126.2) MSEK, an increase of 16,4%.

Net sales amounted to 45.3 (65.0) MSEK, a decrease of -30%, whereof -28% organic and -2% currency effect.

Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to -18.4 (7.3) MSEK.

Net income for the period amounted to -24.6 (-1.5) MSEK.

Earnings per share (EPS) were -0.96 (-0.06) SEK.

Cash flow from operating activities amounted to 1.9 (1.2) MSEK.

Webcast presentation of the interim report

To join the presentation, please visit https://investor.mentice.com.

Contact:

Goran Malmberg

Email: goran.malmberg@mentice.com

Tel: +1 (312) 860 5610

About Mentice

Mentice (STO: MNTC) is the world leader in proficiency based simulation solutions for image guided interventional therapies. Our solutions help healthcare professionals acquire, retain, and enhance their procedural skills driving improved productivity and outcomes. Mentice solutions are scientifically validated and have been specifically developed for healthcare providers and the medical device industry. Neurovascular, cardiovascular, and peripheral interventions are just some of the clinical areas covered by our solutions.

(C) 2024 Electronic News Publishing, source ENP Newswire