STOCKHOLM, May 7, 2021 /PRNewswire/ --
- Order intake amounted to 66.3 (47.7) MSEK, corresponding to a
growth of 39% (49% in constant currencies).
- Order backlog amounted to 340.1 (261.5) MSEK
- Revenue amounted to 60.0 (51.8) MSEK, corresponding to a 16%
growth (23% in constant currencies)
- Operating profit amounted to 6.2 (1.0) MSEK, corresponding to a
margin of 10.4 (1.9) %
- Net results after tax amounted 3.2 (0.4) MSEK
- Result per share amounted to 0.09 (0.01)
We are starting off 2021 with another solid quarter that I am
very pleased with. The revenue growth combined with marginal
increase in cost delivers a record high first quarter operating
profit for the company. The growth in order intake of almost 50
percent in constant currencies also signals a strong start of the
year. COVID-19 is still affecting our business, but it is very
encouraging to see that customers refocus on upgrading their cancer
centres with surface tracking on the journey to establish the
technology as standard of care.
Order Intake continuous to grow at high pace in all our product
segments. The cooperation with Elekta in North America is developing well and the
region has achieved a strong recovery compared to last year. Both
companies' teams are working tight together to develop the market
and to present the combined value proposition to customers. The
strong momentum in the APAC region, driven by the Chinese market,
continuous in the first quarter - reflected in order intake and
revenue. In the EIMEA region the purchasing behavior is still
somewhat affected by COVID-19. The impact partly correlates with
the COVID-19 policies of the respective governments, but we also
noted that the approval processes for capital investments, both for
private and governmental healthcare providers, became longer.
Notwithstanding, we have a largely stable result both in order
intake as in revenue within the region.
With growing revenue, an improved gross margin to 61 percent and
operating expense more or less at the same level as last year we
are delivering a solid result with an operating margin of 10
With the implementation of vaccination programs progressing and
COVID-19 related lethal going down, the focus in the healthcare
sector is shifting back on cancer care. The clinical advantages of
high precision radiation therapy are widely researched and recent
developments in the reimbursement systems in major markets, enable
customers to invest in required equipment to deliver safe and
accurate radiation therapy for the patients in need.
Based on our firm believe that surface tracking is on its way to
become standard of care in high precision radiation therapy, we
have set ambitious targets for this year. Our strategy is based on
a clear commitment to strengthen our value proposition and our
market access, while we want to further develop our cooperation
with OEM partners. We expect that product sales continues to grow
for the foreseeable future at notably higher pace than the overall
radiation therapy market. The rapid development in the service
business over the past years continues to show a positive trend. It
is our expectation that services will continue to grow and over
time constitute a larger share of our revenues.
C-RAD has a great product and a highly motivated team. I am
excited on what we have achieved so far and look optimistically at
the future. With that said, the market continuous to be volatile
and comes with a distinct seasonality pattern, which might have an
impact on both order intake and revenue in individual quarters. I
am very confident about our mid- and long-term opportunity.
Tim Thurn, CEO
C-RAD develops surface-guided imaging solutions for radiation
therapy to allow highly accurate dose delivery to the tumor, and at
the same time, to protect healthy tissue from unwanted exposure.
Using high-speed 3D cameras combined with augmented reality, C-RAD
supports the initial patient setup process and monitors the
patient's motion during treatment to ensure high confidence, an
efficient workflow, and improved accuracy. C-RAD monitors the
patient's motion without the use of tattoos or additional imaging
dose, to deliver the highest level of patient safety and
C-RAD. Inspiring excellence in cancer treatment.
C-RAD AB is listed on NASDAQ Stockholm.
For more information on C-RAD, please visit
For further information:
Tim Thurn, CEO C-RAD AB, Phone
+46-18-666930, Email firstname.lastname@example.org
This information is information that C-RAD AB (publ) is obliged
to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication at 08:30 CET on May
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