SUMMARY OF THE INTERIM REPORT
The Group's net sales for the quarter amounted to 2.7 (0.9) MSEK. The increase in sales is partly attributable to increased sales activity in the Company's focus areas, resulting in orders whose deliveries have been reallocated from the previous quarter.
Operating costs have decreased significantly compared to the same period last year. The reduction in operating costs is attributable to efficiencies in both staff and other external costs. However, the default interest on the loan financing, which was due to be repaid in December, resulted in significantly increased costs this quarter, negatively affecting the overall result.
The result for quarter 2 amounted to -8.3 (-6.8) MSEK and, in addition to the reduced operating costs, is also negatively affected by the aforementioned higher financial costs compared to the same period last year.
DEVELOPMENT IN THE GROUP, APRIL -
· Total net sales amounted to 2.7 (0.9) MSEK
· Operating profit amounted to -5.1 (-6.2) MSEK
· The result for the period amounted to -8.3 (-6.8) MSEK
· Earnings per share amounted to -0.26
*These figures do not include the decided but not yet registered partially guaranteed rights issue that the Company announced on
FINANCIAL OVERVIEW
Figures in parentheses below indicate information for the corresponding period during the previous financial year.
TURNOVER AND RESULT FOR THE GROUP
The net sales for quarter 2 amounted to 2.7 (0.9) MSEK. The increase in sales is partly attributable to increased sales activity in the Company's focus areas, resulting in orders whose deliveries have been reallocated from the previous quarter. Operating costs have decreased significantly compared to the same period last year. The reduction in operating costs is attributable to efficiencies in both staff and other external costs. However, the default interest on the loan financing, which was due to be repaid in December, resulted in significantly increased costs this quarter, negatively affecting the overall result. The result for quarter 2 amounted to -8.3 (-6.8) MSEK and, in addition to the reduced operating costs, is also negatively affected by the aforementioned higher financial costs compared to the same period last year.
FINANCIAL POSITION
Cash and cash equivalents amounted to 1.7 MSEK at the balance sheet date compared to 1.3 MSEK at the beginning of the period. The cash flow for the quarter amounted to 0.4 (8.6) MSEK. The equity/assets ratio at the end of the period was 35%.
SIGNIFICANT EVENTS DURING THE PERIOD 1 APRIL -
The tender is estimated to be worth approximately 1.7 MSEK per year for at least 2 years.
The board of
The issue is covered by approximately 85% of subscription commitments and guarantee commitments. The primary purpose of the rights issue is to enable a strategy through increased efforts in marketing and sales, mainly within the company's focus regions.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
With the new financing structure, the company plans to, after an initial amortization, retain a remaining loan debt of approximately
The full report can be found in the company's website: https://www.s2m.se/en/financial-reports
This disclosure contains information that
Contact Details
Petter Sivlér - CEO,
Telephone: +46 (0)8-70 000 50
E-mail: petter.sivler@s2m.se
Certified Adviser
Telephone +46 (0)8-580 065 99
Website: www.vatorsec.se
E-mail: ca@vatorsec.se
About
Share's ticker: S2M
Share's ISIN-code: SE0011725084
https://news.cision.com/s2medical-ab/r/interim-report-april---june-2023,c3824217
https://mb.cision.com/Main/17719/3824217/2253840.pdf
(c) 2023 Cision. All rights reserved., source