MEDARTIS power pace in America!

The medical technology company MEDARTIS reported good half-year figures and is on track to achieve its annual targets; the outlook for 2023 was confirmed. MEDARTIS was able to increase both sales and profit. Net sales increased by a strong +16.8% to CHF 103.3 million. At constant exchange rates, the increase would have been as much as 20.8%. The largest contribution to this growth came from business in the EMEA region (Europe, Middle East, Africa). Here, revenues climbed +13.5% to CHF 51.5 m. Meanwhile, the USA was the fastest growing region in 1H23, with sales up 39.2% to CHF 25.5 m . Broken down by product category, the "lower extremities" business grew by a high +28.6% to CHF 17.1 million. The largest business area, "upper extremities", recorded a sales growth of still remarkable +9.1% to CHF 66.7 million. On the profit side, MEDARTIS achieved a gross profit (EBITDA) of CHF 13.1 million, thus +7.8% compared to the same period of the previous year. The margin is thus 12.6% (previous year: 11.2%). The result was burdened by an IT attack, which was, however, resolved relatively quickly. This incident resulted in one-off costs of CHF 1.8 million, which is why MEDARTIS posted a net loss of CHF 0.8 million on the bottom line. A year ago, there had been a small profit in the books. For the full year, MEDARTIS is targeting internal sales growth of +15% to +18% and a normalized EBITDA margin of 13% to 15%.

MEDARTIS is focused on growth and has high ambitions accordingly. Especially the strong growth in the USA indicates a successful implementation of the corporate strategy. According to the survey, MEDARTIS is still underrepresented among many investors and therefore has potential. If the price target of CHF 110 is reached quickly, we will realize the advanced profit!