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Elekta AB Class B EKTA B

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Morningstar’s Analysis

Currency in SEK
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Gross Orders Bounce Back for Elekta, but Near-Term Uncertainty Remains

Alex Morozov, CFA Regional Director

Analyst Note

| Alex Morozov, CFA |

We are maintaining our fair value estimate of SEK 133 for wide-moat Elekta following the release of second-quarter results. With the continuing global coronavirus pandemic recovery, total revenue and gross orders have returned to 2019/20 levels in the quarter, but the uncertainty around near-term growth remains material as we see the pandemic return. We currently view shares as undervalued.

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Company Profile

Business Description

Sweden-based Elekta develops, manufactures, and distributes treatment planning systems for neurosurgery and radiotherapy, including stereotactic radiosurgery and brachytherapy. The company's installed base of more than 4,850 linear accelerators and software is used in more than 6,000 hospitals globally. The company's sales are evenly distributed across geographies, with North and South America accounting for 28%; Europe, the Middle East, and Africa accounting for 37%; and Asia-Pacific contributing the remainder.

Kungstensgatan 18, Box 7593
Stockholm, 103 93, Sweden
T +46 858725400
Sector Healthcare
Industry Medical Instruments & Supplies
Most Recent Earnings Oct 31, 2021
Fiscal Year End Apr 30, 2022
Stock Type
Employees 4,522