“We close a strong first quarter where we continue to successfully navigate the Covid-19 challenges. We grow organically by 4,1%, with a strong profitability development where we report our highest gross margin for a single quarter to date, and our adjusted operating profit increases by 45% in comparable currencies. Our rental business grows by double-digit numbers with a solid performance in core rental both in the US and Europe. At the end of the quarter we also saw an accelerated activity level in capital sales, especially within the Patient handling category which grows 15% in the quarter,” says Joacim Lindoff, President & CEO.

“Although the pandemic continues to impact the market, this quarter indicated a gradual return to a more normal and long-term sustainable demand. The solid start to 2021 strengthens our view for the full year and we look forward to another exciting and successful year for Arjo,” adds Joacim Lindoff.

January-March 2021 in brief

• Net sales amounted to SEK 2,168 M (2,273).
  Net sales grew organically by 4.1%.
• Adjusted EBITDA increased 11.0% to SEK 495 M (445).
  In comparable currencies, profit was SEK 529 M, corresponding to an improvement of about 19%.
• Adjusted operating profit increased by 27.9% to SEK 260 M (203).
  In comparable currencies, profit was SEK 294 M, corresponding to an improvement of about 45%.
• Profit after financial items increased to SEK 231 M (140).
• Earnings per share rose to SEK 0.64 (0.39).
• Cash flow from operations amounted to SEK 275 M (287).

Telephone conference

Fund managers, analysts and the media are invited to a teleconference on April 27 at 08.00 CET. Please see details below to join the conference:

Sweden: +46 8 505 583 56
USA: +1 833 249 8404
UK: +44 333 300 9269

A presentation will be held during the telephone conference. To access the presentation, please use this link: https://tv.streamfabriken.com/arjo-q1-2021

Alternatively, use the following link to download the presentation:
https://www.arjo.com/int/about-us/investors/reports--presentations/2021/

A recording of the teleconference will be available for 90 days via the following link: https://tv.streamfabriken.com/arjo-q1-2021

For more information, please contact:

Kornelia Rasmussen
Executive Vice President, Marketing Communications & Public Relations
Tel: +46 (0)10 335 4810
Email: kornelia.rasmussen@arjo.com

Maria Nilsson
Investor Relations & Corporate Communications
Tel: +46 (0)10 335 4866
Email: maria.nilsson@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 April 27, 2021.

About Arjo

Creating the best conditions for mobility is at the very core of a high-quality healthcare offering. Arjo’s products and solutions for patient handling, hygiene, disinfection, diagnostics, prevention of pressure injuries and deep vein thrombosis, and our medical beds, are designed to promote mobility, safety and dignity in all care situations.

With 60 years of experience of improving the everyday lives of patients, residents and healthcare providers, sales of SEK 9 billion in 2020 and a global workforce of slightly more than 6,000, Arjo is constantly reinforcing its commitment to create healthier outcomes for people with reduced mobility.www.arjo.com