Ten-year summary

Increased stability and profitability based on a long-term, innovative and efficient approach

Excel sheet with ten-year key figures

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Summary by year

2016/2017 Stable performance by the Group despite unexpected currency effects

Sales growth in a number of markets. The outcome in the UK was adversely impacted by currency effects in British pounds following the Brexit vote. The future focus on new geographic markets, such as France, and new product areas, such as digital pathology and critical infrastructure, had a negative effect on the earnings trend, but offer major growth potential. All financial goals were exceeded, with positive trends with respect to net sales, operating profit and cash flow. Sectra establised a new subsidiary in Canada for direct sales. The Board of Directors proposed that SEK 170.7 million be transferred to the shareholders.

2015/2016 More healthcare customers in the operational phase yielded increased sales, earnings and cash flow

Sales growth, primarily in Norway, the UK and the US. Order bookings were well above net sales. Two companies were acquired and the market for Sectra’s secure communication systems was expanded through the launch of IT security services for the energy sector. Two new subsidiaries for direct sales was established, one in France (medical systems) and one in Finland (secure communications). Increased cash flow and all financial goals were achieved. The company transferred SEK 169.6 million to the shareholders.

2014/2015 Increased stability based on long-term customer contracts

Many large, long-term customer contracts were signed and record-breaking order bookings were achieved. Strong growth in Norway, the UK and the US. Cash flow impacted by the large number of customer projects in the installation phase. Launch of IT system for digital pathology and acquisition of partner company in Denmark. All financial goals were achieved and Sectra transferred SEK 168.8 million to the shareholders.

2013/2014 Positive profit trend

Due to the structural changes, internal efficiency enhancements, business and product development implemented in recent years, the Group achieved its operating margin target of 15%. Strong growth in the Netherlands and the UK, and increased investments in product development. The company transferred SEK 167.7 million to the shareholders.

2012/2013 Focused growth initiatives

Efforts to strengthen the company’s position in markets where Sectra holds an established position continued, including the UK, where the medical IT services company Burnbank was acquired. Order bookings rose 30% due to successful sales in such countries as the Netherlands, the UK and Sweden. Strong financial position and solid cash flow. The company transferred SEK 166.9 million to the shareholders.

2011/2012 Sectra’s largest structural transaction

Sectra divested the operation for low-dose mammography. The capital gain was SEK 322 million and the structural transaction had an exceedingly positive impact on profitability and cash flow. Through redemption programs, Sectra distributed SEK 184 million to shareholders in autumn 2011 (attributable to distributable profits in 2010/2011) and an additional SEK 185 million for the year after decision by the Annual General Meeting. Order bookings rose 11% due to successful sales in northern Europe, but the weak economic situation led to slower growth in many countries. Higher interest income and positive exchange-rate differences contributed to the higher profit margin.

2010/2011 Deliveries commence with new-generation IT system for medical imaging

Sectra’s sales rose nearly 4%, despite slower market growth due to the economic situation in Europe and the US. Very few major transactions were implemented, which contributed to lower order bookings. A development project for a new-generation IT system for medical imaging management was completed, which led to increased depreciation/amortization. Earnings were negatively impacted by the stronger SEK, and currency fluctuations had a negative effect of SEK 18 million on the net financial items. Net earnings for the year were impacted by major investments in the lowdose mammography product.

2009/2010 Product development for greater efficiency

Previously, Sectra had been relatively immune to the strained economic situation in the US and Europe but this fiscal year growth was affected by slowed demand. Major investments were made in the product development of a new-generation IT system for medical imaging management (PACS). The SEK was strengthened and currency fluctuations had a negative impact of SEK 9 million on net financial items. Net earnings for the year were impacted by major investments in the low-dose mammography product.

2008/2009 Listed on the stock exchange for ten years with growth and profitability

Continued growth in order bookings and sales. Several major transactions with healthcare customers contributed to order bookings of more than SEK 1 billion. For example, Sectra received an order valued at SEK 360 milion for a regionwide IT system for medical imaging management for Northern Ireland’s entire public healthcare system. The USD and EUR strengthened against the SEK and currency fluctuations had a positive impact of SEK 41 million on net financial items. However, net earnings for the year were impacted by major investments in the low-dose mammography product.

2007/2008 Order bookings exceed 1 billion for the first time

The year was characterized by continued higher international sales and sharply increased service and support operations. Combined, this resulted in stable sales growth, a profit margin of 11% that meet the Group's goal and the highest order bookings ever. Order bookings increased 49%. The exceptionally high order bookings was, among others, a result of Sectra securing major service and support contracts for medical image management solutions.

Strategic acquisitions and divestments

Sectra has grown both organically and through acquisitions. The company’s first acquisition was carried out in 1995. Over the years, Sectra also divested various smaller operations. Most recently in 2011, Sectra divested the operation for development and sales of the low-dose mammography product MicroDose Mammography, an innovation that halved the radiation doses delivered during mammography examinations.

Acquisitions over the previous five years

2015

  • RxEye AB, Sweden, business area Imaging IT Solutions.
  • EXP Analytics Oy, Finland, business area Secure Communications.
  • it-mark ApS, Denmark, business area Imaging IT Solutions.

2012

  • Product rights for radiation dose monitoring system, Sweden, business area Imaging IT Solutions.
  • Burnbank Ltd, UK, business area Imaging IT Solutions.

 

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