Interim report
Page 1
Revenio Group Corporation : Interim report January 1 - September 30 , 2021 The figures in parentheses refer to the corresponding period in the previous year unless otherwise stated . Q3 / 2021 : An excellent quarter driven by very strong sales July - September 2021 • • • Net sales were EUR 19.4 ( 15.8 ) million , an increase of 22.7 % The exchange rate - adjusted net sales growth was 20.6 % In particular , very strong growth in sales of fundus imaging devices in Europe and the United States contributed to the favorable business development Operating profit was EUR 5.9 ( 3.6 ) million , or 30.7 % of net sales , an increase of 63.9 % . The 1.9 - million - euro Cutica impairment in the comparable period had a negative impact on the comparable EBIT . Comparable operating profit adjusted with the Cutica impairment was EUR 5.6 million EBITDA was EUR 6.7 ( 6.2 ) million , up by 8.1 % Cash flow from operations totaled EUR 5.8 ( 6.5 ) million . Cash flow was impacted by Oculo's development activities and changes in working capital Undiluted earnings per share were EUR 0.175 ( 0.111 ) Revenio updated its financial guidance for 2021 in August January - September 2021 • • • Net sales were EUR 55.0 ( 41.4 ) million , an increase of 32.9 % The exchange rate - adjusted net sales growth was 33.9 % Adjusted with non - recurring acquisition costs of EUR 0.7 million , the operating profit for the review period was EUR 15.7 million , while the operating profit for the reference period , adjusted with the EUR 1.9 million impairment of Cutica , amounted to EUR 11.4 million . In relation to the adjusted operating profit for the reference and reporting period , operating profit grew by 37.0 % in the reporting period EBITDA was EUR 17.2 ( 13.4 ) million , an increase of 28.1 % . EBITDA adjusted for the EUR 0.7 million non - recurring , acquisition - related costs amounted to EUR 17.8 million , or 32.4 % of net sales , up by 33.2 % The acquisition of the Australia - based Oculo business was completed in April . Oculo is an eye care- focused software platform combining clinical communication , telehealth , remote patient monitoring and data analytics capabilities . Expenses for operational development of Oculo will affect the Group's relative profitability in 2021 and 2022 Cash flow from operations totaled EUR 10.5 ( 9.1 ) million Undiluted earnings per share were EUR 0.446 ( 0.283 ) The Annual General Meeting was held on March 17 , 2021. The dividend was confirmed as EUR 0.32 ( 0.30 ) Revenio's updated strategy focusing on clinical eye care solutions was presented at Capital Markets Day in March