BUSINESS AREA

Medtech

Companies in the Medtech business area provide medical device products within the medtech market and assistive equipment within Homecare.

The companies within Medtech had a good second quarter and net sales increased by 8 percent to SEK 1,615m (1,496), of which organic growth was 7 percent and exchange rate changes positively affected net sales by 1 percent. EBITA increased by 37 percent to SEK 200m (145), corresponding to an EBITA-margin of 12.3 percent (9.7). EBITA was positively affected by the reversal of contingent considerations of SEK 7m. Adjusted for this the EBITA margin amounted to 11.9 percent. The closure of Camanio is progressing according to plan and the company has had a negative impact on the result with SEK 8m (15).

In the interim period, net sales increased by 9 percent to SEK 3,323m (3,050), of which organic growth was 8 percent and exchange rate changes positively affected net sales by 1 percent. EBITA amounted to SEK 398m (401), corresponding to an EBITA-margin of 12.0 percent (13.2). EBITA was positively affected by the reversal of contingent considerations of SEK 7m (83). Adjusted for this EBITA increased by 23 percent and the EBITA margin amounted to 11.8 percent (10.4). Camanio has had a negative impact on the result with SEK 29m (30), of which SEK 6m refers to a restructuring reserve related to the successive closure of the company.

Sales growth in Medtech remained strong in the second quarter. Gross margins strengthened, and cost efficiency improved. The EBITA margin increased significantly compared to the second quarter of 2023. 

In Hospital, demand was strong, and the companies gained market share thanks to market-leading customer support, reliable deliveries, and constantly updated product portfolios. Some key suppliers continue to have delivery problems, leading to some products being backordered. 

Patient waiting lists are still long and have not decreased significantly in most markets, mainly due to staff shortages and strikes. The long waiting lists are expected to continue to require more planned surgeries, thereby driving demand. 

The companies continuously work on developing customer offerings and product portfolios in the prioritized segments, adding new products to the range while phasing out others.

The eye surgery business has undergone extensive restructuring in recent quarters, resulting in a return to a decentralized business model and significantly reduced costs, both as a result of dismantled central functions and through efficiency improvements in the companies. In addition, the product portfolio and sales efforts have been focused on profitable segments. These measures have led to improved margins. Improvement activities are now gradually shifting focus to sales growth. 

The companies in Homecare had a strong second quarter, with profitability developing very positively in several companies. The closure of Camanio is progressing according to plan, and costs decreased significantly during the quarter. All users are expected to have migrated to other solutions during the third quarter and the closure of the Camanio business will be completed.