Ortivus AB (publ) interim report for the period January – March 2022

Ortivus expands

Highlights January – March 2022

  • Ortivus signed a contract for the delivery of equipment for Region Skåne’s ambulance operations. The contract covers the delivery of Ortivus’ solution MobiMed Monitor and MobiMed Life defibrillators, including hardware and software, to all the region’s ambulance vehicles. The value of the delivery is estimated to 33 MSEK. The contract duration is 2 years with a possible extension for another 2 years.
  • Ortivus recruited Viveka Hiort af Ornäs as new Chief Financial Officer and as a member of Ortivus’ management team. Viveka succeeds Margareta Hagman, who has been acting CFO since October 2021.

Significant events after end of the period

  • Ortivus UK Ltd signed a contract with The Isle of Wight NHS Trust for delivery of MobiMed ePR to all vehicles in their ambulance organisation. The order value is 4.6 MSEK and the contract period is 3 years, with a possible extension for 1 year.
  • Ortivus received a market approval for MobiMed in New Zealand and thereby received the opportunity to market and sell MobiMed on the New Zealand market.
  • Region Kronoberg is investing in digital remote care and MobiMed was ordered for a pilot project in the regions primary care. Estimated order value is 1.0 MSEK.

January – March 2022

  • Net sales amounted to 24.6 (23.5) MSEK.
  • The gross margin amounted to 47 (50)%.
  • EBITDA amounted to 2.9 (2.0) MSEK.
  • Profit after tax amounted to 2.0 (1.7) MSEK.
  • Earnings after tax per share before and after dilution amounted to 0.04 (0.04) SEK.
  • Operating cash flow before changes in working capital amounted to 2.4 (5.1) MSEK.
Jan-Mar 2022 Jan-Mar 2021 Jan-Dec 2021
Net sales (MSEK) 24.6 23.5 94.3
Gross margin (%) 47% 50% 51%
Operating profit (MSEK) 2.0 1.7 9.3
Operating margin (%) 8% 7% 10%
EBITDA (MSEK) 2.9 2.0 12.7
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