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Mentice Year-end Report Q4, Oct - Dec 2023
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Mentice receives an order of EUR 1,733,200 for simulation solutions from a world leading MedTech company
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Mentice Investors

Our solutions help improve patient outcomes and clinical performance one therapy-one patient at a time.



FOURTH QUARTER ENDS A YEAR WITH STRONG GROWTH AND IMPROVED PROFITABILITY
Significant events during the fourth quarter 2023 (OCT-DEC)
• Mentice has received several major orders from world-leading medical technology companies.
• Mentice has appointed Ulrika Drotz Voksepp as the new CFO.
• Mentice has acquired all essential assets from Biomodex, the company´s foremost competitor within flow simulation.
• Mentice received FDA 510 (k) clearance for Ankyras™ software.

Fourth quarter (October–December 2023)
• Order intake amounted to 103.9 (90.3) MSEK, an increase of 15.0%, of which 9.2% was related to the currency effect.
• Order book by the end of the period was 156.3 (126.0) MSEK, whereof 110.0 MSEK is expected as revenue in 2024.
• Net sales amounted to 70.4 (68.7) MSEK, an increase of 2.5%, whereof 0.7% organic.
• Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to 2.3 (11.5) MSEK.
• Net income for the period amounted to -2.8 (2.1) MSEK.
• Earnings per share (EPS) were -0.11 (0.08) SEK.
• Cash flow from operating activities amounted to -6.1 (26.0) MSEK.

Full-year (January–December 2023)
• Order intake amounted to 304.2 (252.2) MSEK, an increase of 20.6%, of which 10.6% was related to the currency effect.
• The Americas region has generated 55.8% growth for order intake in 2023 compared to 2022.
• Net sales amounted to 273.6 (218.0) MSEK, an increase of 25.5%, whereof 23.9% organic.
• Earnings before interest, tax, depreciation, and amortization (EBITDA) amounted to 24.2 (-3.9) MSEK.
• Net income for the period amounted to -2.8 (-30.7) MSEK.
• Earnings per share (EPS) were -0.11 (-1.22) SEK before and after dilution.
• Cash flow from operating activities amounted to 38.7 (14.9) MSEK.

MNTC

Trading information
Short name for Nasdaq First North Growth Market : MNTC

ISIN-code: SE0012673291

The shares are registered by Euroclear Sweden AB

Advisor
FNCA Sweden AB is the Certified Advisor for the company

Important information about Nasdaq First North Growth Market Nasdaq
First North Growth Market is an alternate trading platform managed as a separate organization within NASDAQ Group. Companies listed on Nasdaq First North Growth Market is not managed under the same set of rules as the regulated main list market. The companies follow less complex set of rules and procedures adapted for small growth companies. The risk involved with investment in companies on First North Growth market can therefore be higher than investing in companies on the main market. All companies with shares that is traded on Nasdaq First North Growth Market has a certified advisor that secure and control that the rules are followed.


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Financial targets (short-medium term)

Revenue Growth
30 - 40% average annual revenue growth during short to medium terms (next 3-5 years).

Profitability
30% EBITDA margin within short to medium term (3-5 years).

Dividend Policy
Mentice is a company on a rapidly growing market. To capitalize on its market opportunities, the company will prioritize growth, both organic and through acquisitions.

Dividends

The company has no history of Dividend.

Financial Calendar

15

February

2024

Q4 Interim Report OCT-DEC 2023

21

March

2024

Capital Markets Day

3

May

2024

Q1 Interim Report JAN- MAR 2024

23

May

2024

Annual General Meeting 2024

23

July

2024

Q2 Interim Report APR - JUN

7

November

2024

Q3 Interim Report JUL - SEPT 2024