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CORRECTION: Integrum AB: A new record revenue quarter with 61% growth | ||||||
By: PR Newswire Association LLC. - 29 Feb 2024 | Back to overview list |
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The figures for Rights of Use assets (6,620 KSEK) were missing in the previous report and have now been added. The total sums for Fixed Assets and the Balance Sheet remain the same. MÖLNDAL, Sweden, Feb. 29, 2024 /PRNewswire/ -- THIRD QUARTER 2023/24 (NOV - JAN)
Significant events in the third quarter
1 MAY - 31 JANUARY 2022/23 (9 MONTHS)
CEO's statement The third quarter has been characterized by record sales figures, mainly driven by our continued expansion in the US and a recent accelerating growth in emerging markets. Yet another quarter with record sales and profit Revenues amounted to 30.1 MSEK in the third quarter, corresponding to an increase of 61.2 percent compared to the same period last year. Excluding direct currency effects, operating profit amounted to 6.1 MSEK leading to an EBIT margin of 20.2%. Enhanced collaborations in the US In the US, which is our prioritized market, we have worked to deepen existing collaborations with hospitals offering treatment with our innovative products. The work is based on Integrum's network model to collect and connect healthcare professionals that surround the patient undergoing treatment with the OPRA™ Implant system. By building an ecosystem with all key players, we lessen hospitals' administrative burden and help them funnel patients through the treatment process. Ultimately, we believe this will increase patient turnover and, most importantly, improve the individual patient's healthcare experience. In November, we announced our plans to apply for pre-market approval (PMA) for the use of the OPRA™ Implant System in above-elbow treatment. Following a successful meeting with the FDA, we are working with high focus to compile the necessary regulatory documentation needed for a formal application. Expansion into new markets Integrum's innovative and bone-anchored OPRA™ Implant System restores mobility in a completely different way than traditional socket prostheses. To this end, our ambition is to treat as many amputees as possible, as quickly as possible, with the OPRA™ Implant System to improve their quality of life. Hence, during the fall, alongside our US operations, we have focused on making the OPRA™ Implant System available in Ukraine and Turkey - two countries that, for various reasons, have seen rapidly growing groups of amputees. In December, we announced the establishment of a clinical center of excellence in Kyiv - aimed at training Ukrainian surgeons in using the OPRA™ Implant System. During the fall, I visited the center three times to perform surgeries, initially pro bono to swiftly get the center into operations. In January, the center independently performed seven surgeries, and is now conducting self-sufficient clinical activities offering the OPRA™ Implant System. The collaboration has generated orders already in the short term; at the end of January, Integrum sold and delivered OPRATM Implant Systems to a value of SEK 3.5 million. The need for Integrum's bone-anchored prosthetic treatments in Ukraine is partly driven by an increased incidence of the tourniquet syndrome, which primarily affects soldiers at the front. The syndrome occurs when treatment of extensive injuries to limbs is delayed. Due to the restricted blood flow during acute treatment with torniquets, the affected individual is usually left with a short stump. In these cases, socket prostheses use is almost impossible, unlike the OPRA™ Implant System which can restore full mobility. During my last visit in Kyiv, I met with Ukraine's Minister of Health, Viktor Liashko, who expressed the country's extensive need for high-standard prosthetic treatments and its willingness to invest in restoring the population's health. According to the Ukrainian Ministry of Health, nearly 100,000 people are expected to have an amputation at the end of 2024. In Turkey, since the end of October, we have been working with our partner Medikon to establish a business solution to offer treatments for people injured in the country's extensive earthquake in early 2023. A skilful organization to achieve high growth We have, time and again, shown the overturning potential in our innovative bone-anchored solutions - based both on a large body of scientific and clinical evidence, as well as important public recognition. As the organization has grown with skilled experts in key positions, we now see an important shift in our regulatory and commercial activities laying the foundation for meaningful growth. Integrum is the world's foremost company in in advanced amputation treatment, and we look forward to leading the way in restoring mobility globally. Mölndal, 29 February 2024 Rickard Brånemark Chief Executive Officer The interim report can be found here: https://integrum.se/investor-relations/financial-reports-calendar/ This disclosure contains information that Integrum AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 29-02-2024 09:39 CET. For more information please contact: Rickard Brånemark, CEO. Phone: +46 70 846 10 61, E-mail: rickard.branemark@integrum.se Jörgen Svanström, CFO. Phone: +46 70 734 96 60, E-mail: jorgen.svanstrom@integrum.se Certified Adviser: The Company's Certified Adviser is Carnegie Investment Bank AB (publ). The following files are available for download:
View original content:https://www.prnewswire.com/news-releases/correction-integrum-ab-a-new-record-revenue-quarter-with-61-growth-302075497.html SOURCE Integrum AB |
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