New financial goals for Surgical Science
The Board of Surgical Science has decided on new financial goals for the company.
New financial goals:
The goal is for Surgical Sciences' turnover in 2026 to amount to SEK 1,500 million. Achieving this target may entail supplementary acquisitions. The Educational Products business area is expected to grow by an average 10-15 percent annually over the period. With a larger and broader product portfolio, the products will have different growth rates. For example, Surgical Science has certain niche products to be able to submit complete tenders, but they are sold individually to a lesser extent. The Industry/OEM business area is expected to have increasing growth during the period as robotic surgery products containing technology from Surgical Science are launched on the market. During the period, other application areas are also anticipated to be digitalized, which together with expanded areas using simulation leads to increasing revenues.
Adjusted EBIT shall amount to 40 percent at the end of the period. Adjusted EBIT will be calculated as EBIT excluding amortization and write-downs of surplus values related to acquisitions.
In connection with the acquisition of Simbionix being announced on July 28, 2021, it was announced that Surgical Sciences' financial goals would be revised and communicated when the process of integrating the company had begun and the review had been completed. In the quarterly report for the third quarter, it was announced that Surgical Sciences' new financial targets would be announced prior to the publication of the year-end report in February.
Surgical Science previously had the following financial goals, which were communicated in November 2019:
The goal is for Surgical Sciences' turnover in 2024 to amount to SEK 400 million. Achieving this target may entail supplementary acquisitions. The Educational Products business area is expected to grow by an average 15 percent annually over the period. The Industry/OEM business area is expected to grow more unevenly depending on when new assignments are received and license payments commence. The target also presupposes that customers in the area release their products (mainly surgical robots but also other complicated medical device products) to the market and start generating sales.
EBITDA shall amount to at least 40 percent. During individual quarters, the margin may fluctuate, as a consequence of the sales mix and costs in order to enhance the organization’s capacity to achieve the sales target.
Gothenburg, Sweden, January 25, 2022
Surgical Science Sweden AB (publ)
The press release, in its entirety, is available through the attachment or via:
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.