STOCKHOLM, Jan. 28, 2021 /PRNewswire/ --
FOURTH QUARTER 2020
- Order intake increased 39% to 122.1 (88.1) MSEK (43% in
- Order backlog amounted to 350.5 (267.1) MSEK.
- Revenue increased 46% to 74.3 (51.0) MSEK (49% in constant
- Operating profit amounted to 9.8 (-0.5) MSEK, corresponding to
a margin of 13.2 (-1.0) %.
- Net results after tax amounted 12.5 (-12.5) MSEK.
- Result per share amounted to 0.37 (-0.40) SEK.
FULL YEAR JAN - DEC
- Order intake increased 16% to 312.6 (269.8) MSEK (17% in
- Revenue increased 8% to 221.6 (205.4) MSEK (9% in constant
- Operating profit amounted to 17.1 (2.0) MSEK, corresponding to
a margin of 7.7 (1.0) %.
- Net results after tax amounted 14.4 (-13.8) MSEK.
- Result per share amounted to 0.43 (-0.45) SEK.
We are closing the year with a record order intake, a record
high revenue and all time high operating profit. Considering that
the Covid-19 pandemic still had an impact on our business in
various markets, we are pleased with the result. It confirms our
long-standing belief, that motion management is on its way to
become standard of care.
We had a strong growth in order intake during the fourth
quarter. Especially China and
North America contributed to the
success. In both regions, C-RAD succeeded to secure large orders
related to prestigious proton therapy projects.
Our business in Europe and APAC
started to recover in the first half of 2020 after that pandemic
related measures took precedence for the hospital administration in
the beginning of the year.
China has shown very good
annual growth rates over the past years. We continue to see a good
potential in the business in China. The unmet demand for cancer care,
especially outside the tier one cities, is significant and
investments to build up local cancer care facilities are supported
by the government. C-RAD has an excellent position in the market
that allows us to further build our presence. The business in
North America started to recover
only during the third quarter and in the fourth quarter we could
see the result of the sales efforts that we did during the year.
Also, our partnership with Elekta in North America contributed to the strong order
intake in the fourth quarter.
We are delivering order growth in all product categories. Our
positioning products is the core of our business and it is
encouraging to see its strong development. I also want to highlight
the service business that grows at an even higher pace at 64
percent, as a consequence of a larger installed base but also an
attachment rate on the rise. The success of the service business
underlines our customers long-term engagement for our products and
solutions and furthermore secures an important recurring revenue
stream for the company.
Revenue grew significantly in the fourth quarter with 46
percent. As many countries were more selective in applying
lock-down measures, more customers were willing to take deliveries
as installations of our system resumed. APAC, China in particular, is the main contributor
to the revenue growth both in the quarter and for the full year,
which is a result of the strong order intake during the year.
Operating expenses during the year is lower due to active decisions
to reduce cost but also for natural reasons with less travel and
less conventional marketing exhibitions. The growth in revenue in
combination with cost discipline generated a record operating
profit for the quarter of 9.8 MSEK, a margin of 13 percent, and
17.1 MSEK for the full year, a margin of 8 percent.
C-RAD ends the year with several positive factors for further
success in terms of compelling solutions and a huge market
potential supported by a great team, a solid financial platform and
a record high order backlog.
We are proud of what we have achieved during the last year. I
want to extend my appreciation to all C-RAD employees for great
contributions during this very challenging but still successful
year. We can continue to expect volatility in individual quarters,
and it is still unknown what further impact Covid-19 might have,
but I am convinced that we will continue to see a growing demand
for our solutions in high precision radiation therapy. I am very
much looking forward to the new year.
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 email@example.com
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 January
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