Ortivus AB (publ) interim report for the period April – June 2023

Expanding Ortivus’ product range with new applications.

Significant events for the period April – June 2023

  • Ortivus is awarded a contract for the delivery of equipment to the ambulance and hospital operations of Region Kronoberg. The contract pertains to the delivery of Ortivus’ solution MobiMed Life, semi-automatic and manual defibrillators. The order value is estimated to be 4.9 MSEK, and the contract duration is 2 years with a potential extension of 1+1 years.
  • Ortivus qualifies for the NHS framework agreement concerning MobiMed Life, creating new opportunities in the United Kingdom.
  • Ortivus’ product range is further expanded through an asset acquisition of the vehicle control system FleetCtrl, which, together with Ortivus’ other solutions, constitutes a competitive total solution for the future of healthcare.

Significant events after end of the period

  • Ortivus has entered into a contract to supply MobiMed ePR and MobiMed enRoute to support the ambulance operations of Region Jönköpings län. The contract duration is 5 years, with the possibility of an extension for another 5 years. The order value amounts to 4.2 MSEK during the initial contract period, and an additional 4.2 MSEK in the event of a contract extension.
  • A subcontractor responsible for the data operation of MobiMed ePR falls victim to a criminal cyberattack, affecting some of the company’s British clients. The system is isolated, and the application becomes unavailable for a period of time.
  • Ortivus enters into an agreement with the company’s main shareholder, Ponderus Invest, covering a credit line of 8.0 MSEK. The company’s liquidity is being strengthened to effectively manage prolonged procurement processes, delayed deliveries, and customer payments.

April – June 2023

  • Net sales amounted to 20.7 (26.4) MSEK.
  • The gross margin amounted to 37% (57%).
  • EBITDA amounted to -4.8 (3.5) MSEK.
  • Earnings after tax per share before and after dilution amounted to -0.11 (0.08) SEK.
  • Operating cash flow before changes in working capital amounted to -4.3 (8.9) MSEK.

January – June 2023

  • Net sales amounted to 48.7 (51.0) MSEK.
  • The gross margin amounted to 43% (53%).
  • EBITDA amounted to -4.6 (5.5) MSEK.
  • Earnings after tax per share before and after dilution amounted to -0.10 (0.12) SEK.
  • Operating cash flow before changes in working capital amounted to -2.8 (0.8) MSEK.
Apr-Jun 2023 Apr-Jun 2022 Jan-Jun 2023 Jan-Jun 2022 Jan-Dec 2022
Net sales (MSEK) 20.7 26.4 48.7 51.0 104.5
Gross margin (%) 37% 57% 43% 53% 47%
Operating profit (MSEK) -4.7 3.5 -4.2 5.5 5.8
Operating margin (%) -23% 13% -9% 11% 6%
EBITDA (MSEK) -3.5 4.4 -2.0 6.8 10.2

Contacts

For further information, please contact

Reidar Gårdebäck, 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 2023-08-25 08:30 CEST.

Attachments

Ortivus Interim Report Apr Jun 2023

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