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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
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Scandinavian Medical Solutions
Scandinavian Medical Solutions (SMSMED) investor relations material
Scandinavian Medical Solutions H1 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 25/26 earnings summary20 May, 2026
Executive summary
Revenue for H1 25/26 reached DKK 92.3 million, reflecting resilience despite challenging market conditions and high geopolitical uncertainty, US trade barriers, and Middle East unrest leading to deferred investments and tighter financing access.
Strategic focus on cash flow improvement, inventory reduction, and operational efficiency, with decisive corrective actions including cost reductions and CapEx optimizations.
All commercial commitments were honored, maintaining quality positioning despite a market-wide price war.
Cash flow improved significantly, with operating cash flow at DKK 110 million and free cash flow before financing at DKK -11.1 million, up from DKK -33.3 million in FY 2024/25.
The order backlog remains high, supporting confidence in a stronger H2 and full-year outlook, with new board perspectives and proactive long-term strategy focus.
Financial highlights
Revenue for H1 25/26 was DKK 92.3 million, down from DKK 122.7 million year-over-year, index 75 compared to H1 24/25.
Gross profit was DKK 16.2 million (gross margin 17.6%), compared to DKK 24.2 million (19.7%) in H1 2024/25; some reports show gross margin at 12.1% due to deliberate pricing.
EBITDA was DKK -6.9 million, down from DKK 0.6 million in H1 2024/25.
Net profit was DKK -10.0 million, compared to DKK -2.3 million in H1 2024/25.
Inventory reduced to DKK 18 million, and operating cash flow improved to DKK 110 million.
Outlook and guidance
Full-year 2025/26 guidance maintained: revenue DKK 190–220 million, EBITDA DKK 0–5 million, revised down from previous DKK 220–250 million and EBITDA DKK 11–15 million.
H2 2025/26 expected revenue: DKK 99–129 million; EBITDA: DKK 6.5–11.5 million.
Focus areas for H2 include lean cost structure, further inventory reduction, improved free capital, aggressive sales, detailed inventory evaluation, and maintaining product quality.
High order backlog and lower capacity costs support expectations for a stronger H2.
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Latest events from Scandinavian Medical Solutions
- FY2024/25 revenue and EBITDA guidance cut amid market and currency uncertainties.SMSMED
Investor update - 8% revenue growth and strong Rental/Parts performance, with improved outlook for 2025/26.SMSMEDH2 24/25
- Revenue and EBITDA met targets, with 100% rental utilization and strong U.S. market entry.SMSMEDH2 23/24
- FY2024/25 revenue and EBITDA guidance cut sharply amid global market and demand uncertainties.SMSMEDInvestor update
- Revenue up 20% but profit fell as margin pressure and U.S. expansion weighed on results.SMSMEDH1 24/25
Next Scandinavian Medical Solutions earnings date
H2 25/2623 Nov, 2026
Scandinavian Medical Solutions
Next Scandinavian Medical Solutions earnings date
H2 25/2623 Nov, 2026
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Frequently asked questions
Scandinavian Medical Solutions A/S is a Denmark-based company specializing in the provision of high-quality pre-owned medical imaging equipment. Established in 2008, the company focuses on offering a range of medical imaging equipment, including devices for MRI, mammography, X-ray, and more, to healthcare facilities worldwide. It is committed to enabling healthcare personnel and organizations to deliver better, more cost-effective healthcare services. Scandinavian Medical Solutions also provides innovative healthcare solutions, including unique and tailored rental solutions and parts services, thereby enhancing the accessibility and efficiency of medical imaging diagnostics. The company is headquartered in Denmark, and its shares are listed on the Copenhagen Stock Exchange.