Recent Insider Transactions • May 31
Group COO & Member of Management Board recently bought kr300k worth of stock On the 27th of May, Martin Richardson bought around 1k shares on-market at roughly kr251 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Martin's only on-market trade for the last 12 months. New Risk • Apr 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Swedish stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Price Target Changed • Apr 27
Price target increased by 10% to kr268 Up from kr243, the current price target is an average from 2 analysts. New target price is approximately in line with last closing price of kr259. Stock is up 29% over the past year. The company is forecast to post earnings per share of kr9.89 for next year compared to kr6.20 last year. Reported Earnings • Apr 26
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: kr2.33 (up from kr1.63 in 1Q 2025). Revenue: kr179.1m (up 39% from 1Q 2025). Net income: kr20.9m (up 43% from 1Q 2025). Profit margin: 12% (in line with 1Q 2025). Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 9.5% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to kr259, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 14x in the Medical Equipment industry in Sweden. Total returns to shareholders of 128% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr321 per share. Announcement • Apr 04
Stille AB, Annual General Meeting, May 07, 2026 Stille AB, Annual General Meeting, May 07, 2026, at 14:00 W. Europe Standard Time. Location: advokatfirman lindahl offices, on smalandsgatan 16, stockholm Sweden Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to kr234, the stock trades at a forward P/E ratio of 27x. Average forward P/E is 12x in the Medical Equipment industry in Sweden. Total returns to shareholders of 116% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr341 per share. Reported Earnings • Feb 13
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: kr6.20 (down from kr6.48 in FY 2024). Revenue: kr567.6m (flat on FY 2024). Net income: kr55.7m (down 4.3% from FY 2024). Profit margin: 9.8% (in line with FY 2024). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 34%. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr150, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Medical Equipment industry in Sweden. Total returns to shareholders of 33% over the past three years. Price Target Changed • Oct 27
Price target decreased by 10% to kr232 Down from kr258, the current price target is an average from 2 analysts. New target price is 27% above last closing price of kr182. Stock is down 15% over the past year. The company is forecast to post earnings per share of kr4.66 for next year compared to kr6.48 last year. Reported Earnings • Oct 24
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: kr0.10 (down from kr1.41 in 3Q 2024). Revenue: kr138.8m (up 8.5% from 3Q 2024). Net income: kr864.0k (down 93% from 3Q 2024). Profit margin: 0.6% (down from 9.9% in 3Q 2024). Revenue missed analyst estimates by 8.4%. Earnings per share (EPS) also missed analyst estimates by 93%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Aug 06
Consensus EPS estimates increase by 22% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate increased from kr6.97 to kr8.50. Revenue forecast steady at kr605.2m. Net income forecast to grow 61% next year vs 45% growth forecast for Medical Equipment industry in Sweden. Consensus price target of kr268 unchanged from last update. Share price was steady at kr230 over the past week. Reported Earnings • Jul 18
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: EPS: kr1.11 (down from kr2.03 in 2Q 2024). Revenue: kr124.7m (down 13% from 2Q 2024). Net income: kr9.96m (down 45% from 2Q 2024). Profit margin: 8.0% (down from 13% in 2Q 2024). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 44%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Jun 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Independent Director Yonna Olsson is the most experienced director on the board, commencing their role in 2021. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to kr229, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 10x in the Medical Equipment industry in Sweden. Total returns to shareholders of 87% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr364 per share. Announcement • May 07
Stille AB announces Appointment of Jón Sigurdsson as Member and Chair of the Board Stille AB (publ) at its annual general meeting held on May 7, 2025, approved the appointment of Jón Sigurdsson as Member and Chair of the Board. Reported Earnings • Apr 25
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: EPS: kr1.63 (up from kr1.37 in 1Q 2024). Revenue: kr129.3m (down 7.4% from 1Q 2024). Net income: kr14.6m (up 18% from 1Q 2024). Profit margin: 11% (up from 8.8% in 1Q 2024). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 32%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 17% per year whereas the company’s share price has increased by 15% per year. Announcement • Apr 25
Stille AB to Report Fiscal Year 2025 Final Results on Apr 02, 2026 Stille AB announced that they will report fiscal year 2025 final results on Apr 02, 2026 Reported Earnings • Feb 14
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: kr6.48 (up from kr5.31 in FY 2023). Revenue: kr570.0m (up 93% from FY 2023). Net income: kr58.2m (up 118% from FY 2023). Profit margin: 10% (up from 9.0% in FY 2023). Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) missed analyst estimates by 15%. Revenue is forecast to grow 8.8% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr271, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 10x in the Medical Equipment industry in Sweden. Total returns to shareholders of 127% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr427 per share. Announcement • Feb 04
Lars Kvarnhem Declines Re-Election as Chairman of the Board of Stille AB Stille AB announced Chairman of the Board Lars Kvarnhem has declined re-election. Valuation Update With 7 Day Price Move • Jan 17
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to kr235, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 5x in the Medical Equipment industry in Sweden. Total returns to shareholders of 84% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr455 per share. Announcement • Nov 27
Stille AB (Publ) Announces the Launch of imagiQ3 Stille AB (publ) announced the launch of imagiQ3, the next generation of advanced C-arm tables. With a commitment to product leadership and innovation, the new table is designed for ultimate visualization and OR efficiency combined with minimized radiation exposure to surgeons, OR staff and patients. The imagiQ3TM Legacy builds on the successful heritage of previous generations with a highly radiolucent table top, the legendary True Free FloatTM technology and a sleek, slim design ensuring optimal visibility and access during procedures. Designed with the evolving needs of surgeons, OR staff and patients in mind, the new C-arm table combines the trusted features of imagiQ2TM with a completely new technological platform, delivering enhanced performance for healthcare professionals. imagiQ3TM Legacy's virtuous design reflects market needs of enhanced precision, ease of use, sustainability and durability. The imagiQ3TM Service Integration feature helps to assist in off-site troubleshooting, allowing Stille's technicians to remotely diagnose potential issues. Reported Earnings • Oct 25
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: kr1.41. Revenue: kr127.9m (up 82% from 3Q 2023). Net income: kr12.7m (up 31% from 3Q 2023). Profit margin: 9.9% (down from 14% in 3Q 2023). Revenue missed analyst estimates by 3.7%. Earnings per share (EPS) also missed analyst estimates by 33%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Medical Equipment industry in Sweden. Price Target Changed • Jul 23
Price target increased by 17% to kr271 Up from kr232, the current price target is an average from 2 analysts. New target price is 10% above last closing price of kr245. Stock is up 109% over the past year. The company is forecast to post earnings per share of kr8.32 for next year compared to kr5.31 last year. Reported Earnings • Jul 20
Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2024 results: EPS: kr2.03 (up from kr1.18 in 2Q 2023). Revenue: kr142.6m (up 90% from 2Q 2023). Net income: kr18.2m (up 208% from 2Q 2023). Profit margin: 13% (up from 7.9% in 2Q 2023). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 13%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 22% per year. Announcement • May 09
Stille AB Elects Jens Viebke as A New Member of the Board of Directors Stille AB at its AGM held on May 8, 2024 elected Jens Viebke as a new member of the Board of Directors. Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: kr1.37 (vs kr0.68 in 1Q 2023) First quarter 2024 results: EPS: kr1.37 (up from kr0.68 in 1Q 2023). Revenue: kr139.7m (up 93% from 1Q 2023). Net income: kr12.3m (up 261% from 1Q 2023). Profit margin: 8.8% (up from 4.7% in 1Q 2023). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Apr 11
Stille AB, Annual General Meeting, May 08, 2024 Stille AB, Annual General Meeting, May 08, 2024, at 13:00 Central European Standard Time. Location: Eskilstunavägen 34, 644 30, Torshälla Torshälla Sweden Agenda: To consider Election of Chairman of the Meeting; to consider Election of Secretary of the Meeting; to consider Verification of the voting list; to consider Approval of the agenda; to consider Election of one or two adjusters; to consider adoption of the Income Statement and Balance Sheet and the Consolidated Income Statement and Consolidated Balance Sheet, disposition of the Company’s profits; to consider Election of Board members, Chairman of the Board and Auditors; to consider Resolution on the principals for appointing the Nomination Committee; and to consider other business matters. Announcement • Apr 10
Stille AB Omits to Pay Dividend for the Financial Year 2023 The Board of Directors of Stille AB proposed that the Annual General Meeting resolves that the company's results shall be balanced carried forward and that no dividend shall be paid for the financial year 2023. Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: kr5.31 (vs kr5.45 in FY 2022) Full year 2023 results: EPS: kr5.31 (down from kr5.45 in FY 2022). Revenue: kr294.9m (up 20% from FY 2022). Net income: kr26.6m (down 2.5% from FY 2022). Profit margin: 9.0% (down from 11% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 15% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Jan 25
Stille AB (OM:STIL) acquired Fehling Instruments Gmbh & Co. Kg and Fehling Verwaltungs Gmbh. Stille AB (OM:STIL) entered into an agreement to acquire Fehling Instruments Gmbh & Co. Kg and Fehling Verwaltungs Gmbh for €36 million on November 29, 2023. The transaction is on cash free and debt free basis and will be funded through cash. The acquisition is conditional upon the Stille AB receiving sufficient financing to carry out the acquisition and the Stille AB board of directors thus intends to resolve on a directed issue of shares subject to the general meeting's subsequent approval. Stille intends to conduct a directed share issue to institutional investors with deviation from the shareholders’ pre-emption rights to finance the consideration. Fehling reported sales of €15.8 million and adjusted EBITDA of approximately €4.8 million for the year ended 2022. The transaction is expected to close at the end of January 2024. Evli Corporate Finance AB acted as financial advisor to Stille AB (OM:STIL). Kristina Schneider, Katharina Prasuhn, Ann-Kathrin Jungen, Meike Daniels, Michael KA¶mpel, Lutz Martin Keppeler, Markus Lennartz, Manuel Poncza, Ruben Schneider, Christoph Schork, Henrik Lay, Tim Petermann, Catarina Angelika Seemann,Kim Anna Schwick, Alexander Bork, Mathis Dick, Marcel Maybaum,, Astrid Luedtke, Beatrice Stange, Wolfram Meven and Michael Kreisler of Heuking Kühn Lüer Wojtek acted as legal advisor to Stille AB. Stille AB (OM:STIL) acquired Fehling Instruments Gmbh & Co. Kg and Fehling Verwaltungs Gmbh on January 25, 2024. New Risk • Jan 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 79% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. New Risk • Jan 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 38% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Shareholders have been diluted in the past year (38% increase in shares outstanding). Market cap is less than US$100m (kr1.02b market cap, or US$99.8m). Announcement • Dec 29
Stille AB Elects Victor Steien as New Ordinary Member of the Board of Directors Stille AB (publ) at its extraordinary general meeting held on December 29, 2023, the meeting resolved, in accordance with the shareholder Linc AB's proposal, that the board of directors shall consist of six board members with no deputies. Furthermore, the meeting resolved to elect Victor Steien as new ordinary member of the board of directors. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr124, the stock trades at a trailing P/E ratio of 23.2x. Average forward P/E is 21x in the Medical Equipment industry in Sweden. Total returns to shareholders of 42% over the past three years. Announcement • Nov 29
Stille AB (OM:STIL) entered into an agreement to acquire 100% stake in Fehling Instruments Gmbh & Co. Kg and Fehling Verwaltungs Gmbh for €36 million. Stille AB (OM:STIL) entered into an agreement to acquire 100% stake in Fehling Instruments Gmbh & Co. Kg and Fehling Verwaltungs Gmbh for €36 million on November 29, 2023. The transaction is on cash free and debt free basis and will be funded through cash. The acquisition is conditional upon the Stille AB receiving sufficient financing to carry out the acquisition and the Stille AB board of directors thus intends to resolve on a directed issue of shares subject to the general meeting's subsequent approval. Stille intends to conduct a directed share issue to institutional investors with deviation from the shareholders’ pre-emption rights to finance the consideration. Fehling reported sales of €15.8 million and adjusted EBITDA of approximately €4.8 million for the year ended 2022. The transaction is expected to close at the end of January 2024. Evli Corporate Finance AB acted as financial advisor to Stille AB (OM:STIL). Price Target Changed • Oct 29
Price target decreased by 8.0% to kr150 Down from kr163, the current price target is provided by 1 analyst. New target price is 42% above last closing price of kr106. Stock is down 9.8% over the past year. The company posted earnings per share of kr5.45 last year. Reported Earnings • Jul 17
Second quarter 2023 earnings released: EPS: kr1.18 (vs kr1.57 in 2Q 2022) Second quarter 2023 results: EPS: kr1.18 (down from kr1.57 in 2Q 2022). Revenue: kr75.1m (up 19% from 2Q 2022). Net income: kr5.93m (down 25% from 2Q 2022). Profit margin: 7.9% (down from 12% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • May 01
Upcoming dividend of kr1.80 per share at 1.6% yield Eligible shareholders must have bought the stock before 08 May 2023. Payment date: 12 May 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of Swedish dividend payers (5.1%). Lower than average of industry peers (2.0%). Reported Earnings • Feb 20
Full year 2022 earnings released: EPS: kr5.45 (vs kr3.21 in FY 2021) Full year 2022 results: EPS: kr5.45 (up from kr3.21 in FY 2021). Revenue: kr246.4m (up 32% from FY 2021). Net income: kr27.3m (up 70% from FY 2021). Profit margin: 11% (up from 8.6% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Medical Equipment industry in Sweden. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jan 20
Stille AB Announces Change of CEO Stille AB announced the board of director’s decision to appoint Torbjörn Sköld as the new CEO of the company. Torbjörn Sköld has long experience from leading positions where the last 20 years have been within Life science with a primary focus on orthopedics and neurosurgery. The board of directors sees Torbjörns background and experience as great value, and he is well-suited to further enhance Stille’s strategy and increase shareholder value. Torbjörn will begin his tenure on March 20th, 2023, where he will replace Hanna Ernestam Wilkman who has been the company’s CEO since April 1st, 2019. Torbjörn comes most recently from De Puy Synthes EMEA, a Johnson & Johnson company, where he has been Vice President. Reported Earnings • Oct 31
Third quarter 2022 earnings released: EPS: kr3.02 (vs kr0.68 in 3Q 2021) Third quarter 2022 results: EPS: kr3.02 (up from kr0.68 in 3Q 2021). Revenue: kr59.6m (up 17% from 3Q 2021). Net income: kr6.51m (up 90% from 3Q 2021). Profit margin: 11% (up from 6.7% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year whereas the company’s share price has increased by 7% per year. Reported Earnings • Jul 16
Second quarter 2022 earnings released: EPS: kr3.30 (vs kr0.57 in 2Q 2021) Second quarter 2022 results: EPS: kr3.30 (up from kr0.57 in 2Q 2021). Revenue: kr63.3m (up 56% from 2Q 2021). Net income: kr7.85m (up 186% from 2Q 2021). Profit margin: 12% (up from 6.8% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 11%, compared to a 89% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • May 01
First quarter 2022 earnings released: EPS: kr1.05 (vs kr0.83 in 1Q 2021) First quarter 2022 results: EPS: kr1.05 (up from kr0.83 in 1Q 2021). Revenue: kr61.6m (up 72% from 1Q 2021). Net income: kr5.28m (up 32% from 1Q 2021). Profit margin: 8.6% (down from 11% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 20%, compared to a 105% growth forecast for the industry in Sweden. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 29
Upcoming dividend of kr1.00 per share Eligible shareholders must have bought the stock before 06 May 2022. Payment date: 12 May 2022. Payout ratio is a comfortable 31% but the company is not cash flow positive. Trailing yield: 0.7%. Lower than top quartile of Swedish dividend payers (4.6%). Lower than average of industry peers (1.7%). Board Change • Apr 27
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Independent Employee Representative Director Sirpa Makipaa is the most experienced director on the board, commencing their role in 2000. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 06
Full year 2021 earnings released Full year 2021 results: Revenue: kr187.1m (up 31% from FY 2020). Net income: kr16.1m (up 95% from FY 2020). Profit margin: 8.6% (up from 5.8% in FY 2020). Over the next year, revenue is forecast to grow 33%, compared to a 88% growth forecast for the industry in Sweden. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improved over the past week After last week's 19% share price gain to kr131, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 26x in the Medical Equipment industry in Sweden. Total returns to shareholders of 82% over the past three years. Reported Earnings • Feb 19
Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat Full year 2021 results: EPS: kr3.21 (up from kr1.71 in FY 2020). Revenue: kr187.1m (up 31% from FY 2020). Net income: kr16.1m (up 95% from FY 2020). Profit margin: 8.6% (up from 5.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.8%. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 20% per year, which means it is well ahead of earnings. Announcement • Feb 17
Stille AB Proposes Dividend for 2021 The board of directors of Stille AB proposes the Annual General Meeting a dividend of 1.00 SEK per share (1.70) for 2021. Reported Earnings • Oct 28
Third quarter 2021 earnings released The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr51.1m (up 62% from 3Q 2020). Net income: kr3.43m (up 124% from 3Q 2020). Profit margin: 6.7% (up from 4.9% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 19% share price gain to kr149, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 33x in the Medical Equipment industry in Sweden. Total returns to shareholders of 78% over the past three years. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS kr0.57 (vs kr0.42 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr40.6m (up 39% from 2Q 2020). Net income: kr2.75m (up kr4.79m from 2Q 2020). Profit margin: 6.8% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 28
Upcoming dividend of kr1.70 per share Eligible shareholders must have bought the stock before 05 May 2021. Payment date: 11 May 2021. Trailing yield: 1.3%. Lower than top quartile of Swedish dividend payers (3.5%). Higher than average of industry peers (0.9%). 
