#Sweden #Stockholm #financial report #RaySearch Laboratories #medical software

RaySearch Laboratories Year-End Financial Performance 2024

RaySearch Laboratories, a leader in radiation therapy software, has released its year-end report for 2024, showcasing strong financial growth and promising developments in its operations.

Fourth Quarter Highlights

In the fourth quarter, which spanned from October to December 2024, RaySearch reported substantial figures:

• - Order Intake: 305.0 million SEK, a slight decrease from 317.7 million SEK in the same quarter the previous year.
• - Net Sales: 322.7 million SEK, marking an increase from last year’s 299.6 million SEK.
• - Operating Profit: The company achieved an operating profit of 73.6 million SEK, nearly doubling from 44.4 million SEK in the prior year.
• - Profit After Tax: This stood at 60.0 million SEK, significantly higher than the 31.5 million SEK reported in Q4 2023.
• - Earnings Per Share: Rose to 1.75 SEK from 0.92 SEK reported last year.
• - Cash Flow from Operating Activities: Amounted to 102.9 million SEK, reflecting a decline from 115.8 million SEK in Q4 2023.
• - Order Backlog: At the end of the quarter, the backlog was 1,813.2 million SEK, down from 1,864.4 million SEK at the close of the previous year.

Annual Performance Overview

For the entire twelve-month period from January to December 2024, RaySearch’s growth trajectory was evident:

• - Total Order Intake: 1,087.2 million SEK, up from 1,004.2 million SEK in 2023.
• - Net Sales: Reached 1,192.0 million SEK, a significant improvement over the 1,022.2 million SEK recorded last year.
• - Operating Profit: Jumped to 260.5 million SEK from 114.9 million SEK.
• - Profit After Tax: Also saw a large increase, totaling 203.5 million SEK compared to 81.6 million SEK in 2023.
• - Earnings Per Share: Increased to 5.94 SEK from 2.38 SEK.
• - Cash Flow from Operating Activities: Surged to 485.2 million SEK from the previous 455.9 million SEK.

Additionally, the Board of Directors recommended a dividend of 3.00 SEK per share for the full year, compared to just 0.70 SEK last year, reflecting the robust financial performance.

Key Developments in Q4

RaySearch made notable progress during the fourth quarter, including:

• - An order from GenesisCare UK for the RayStation software.
• - The expansion of RayStation usage in China, with over 100 clinics now utilizing it for radiation therapy.
• - Multiple centers within the French Unicancer network opted for RayStation, enhancing the software's presence in Europe.
• - Institut Curie in France started using RayStation specifically for proton therapy planning.
• - The software's application in clinical settings has notably progressed in Italy, particularly at the Trento Proton Therapy Center, where proton-arc therapy is being used.

Events Post Reporting Period

Looking ahead, in January, RaySearch secured an order from the Polish company Medim for its product DrugLog, which marks a significant addition to its portfolio. Furthermore, the appointment of Nina Grönberg as the new CFO was announced, taking effect on January 27, 2025.

Conclusion

The year 2024 has been a pivotal one for RaySearch Laboratories, not only in terms of financial health but also in the successful adoption of its technologies in key markets. With a solid earnings report and planned expansion, RaySearch is set for continued advancements in the medical technology sector. The forthcoming Webcast, where CEO Johan Löf and CFO Nina Grönberg will elaborate on the report, is anticipated to shed further light on the future strategies for the company.

For inquiries and detailed information about RaySearch's year-end financial performance, please reach out to their contact personnel. The company looks forward to strengthening its market position in the coming year.