”We close a year in which growth was primarily held back by lower critical care rental volumes in the US compared with 2021. Adjusted for this the Group grew organically by approximately 3% in 2022, which demonstrates the strength of our underlying business. During the fourth quarter, growth continued across all major markets outside the US, and we report an adjusted EBITDA-result of SEK 500 M. In addition, reduced inventory levels contribute to a cash conversion above our target,” says Joacim Lindoff, President and CEO of Arjo.

“We manage the short-term challenges in our environment and in parallel we strengthen our positions for the future. We have a positive momentum in both rental and service, as well as in our pressure injury prevention solutions, and we expect an organic sales growth for 2023 in line with our 3-5% target,” concludes Joacim Lindoff.

October-December 2022 in brief

• Net sales increased to SEK 2,686 M (2,456).

Net sales declined organically by 2.2%.

• Adjusted EBITDA amounted to SEK 500 M (541).
• Adjusted operating profit amounted to SEK 216 M (301).
• Profit after financial items amounted to SEK 124 M (254).
• Earnings per share amounted to SEK 0.34 (0.70).
• Cash flow from operations amounted to SEK 452 M (639).
• The cash conversion was 101.1% (123.0).

January-December 2022 in brief

• Net sales increased to SEK 9,979 M (9,070).

Net sales declined organically by 0.2%.

• Adjusted EBITDA amounted to SEK 1,841 M (2,072).
• Adjusted operating profit amounted to SEK 765 M (1,116).
• Profit after financial items amounted to SEK 597 M (989).
• Earnings per share amounted to SEK 1.64 (2.72).
• Cash flow from operations amounted to SEK 915 M (1,734).
• The cash conversion was 51.8% (85.3).
• A dividend per share of SEK 0.85 (1.15) is proposed, corresponding to approximately SEK 232 M.

Telephone conference

Fund managers, analysts and media are invited to participate in a conference call and presentation of the report on January 25 at 08.00 CET via the following link: https://ir.financialhearings.com/arjo-q4-report-2022 

Those who wish to ask questions verbally via the teleconference will need to register via the link below. A phone number and a conference ID will be provided after registration in order to access the conference. Link to registration: https://conference.financialhearings.com/teleconference/?id=500830

Alternatively, use the following link to download the presentation:
https://www.arjo.com/int/about-us/investors/reports--presentations/2023/

A recorded version of the conference is accessible for three years via the following link:
https://ir.financialhearings.com/arjo-q4-report-2022

For more information, please contact:

Maria Nilsson, Acting EVP Communications & Public Relations

Tel: +46 734 244 515

Email: maria.nilsson@arjo.com  

Sara Ehinger, VP Investor Relations & Corporate Communications

Tel: +46 723 597 794

Email: sara.ehinger@arjo.com

This information is information that Arjo AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 CET on January 25, 2023.

About Arjo

At Arjo, we believe that empowering movement within healthcare environments is essential to quality care. Our products and solutions are designed to promote a safe and dignified experience through patient handling, medical beds, personal hygiene, disinfection, diagnostics, and the prevention of pressure injuries and venous thromboembolism. With 6,500 people worldwide and 65 years caring for patients and healthcare professionals, we are committed to driving healthier outcomes for people facing mobility challenges. www.arjo.com