November 28, 2019 / 10:17 AM / 9 days ago

Sweden's Elekta order growth strong in North America, profit in line

STOCKHOLM (Reuters) - Swedish radiation therapy equipment maker Elekta (EKTAb.ST) posted profits and order intake in line with its previous profit warning and said order growth was strong in North America.

Elekta, which is banking on its new Unity radiation system to help drive future growth, said second-quarter earnings before interest, taxes and amortization (EBITA) fell to 539 million crowns ($56 million) from 601 million crowns a year ago.

“Some delayed installations hampered our revenue growth and profitability, although the largest negative impact on profitability came from exchange rates,” it said, adding order growth was very strong in emerging markets and North America.

Elekta warned on Nov. 15 that second-quarter EBITA would fall to 540 million crowns, below analysts expectations of 700 million.

Elekta, a rival to U.S.-based Varian Medical Systems (VAR.N), maintained a forecast for an EBITA margin of around 18% for its full year with net sales growth of 8-10%.

Reporting by Helena Soderpalm; Editing by Edmund Blair

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