Investing.com -- Stockholm-listed shares in Elekta (ST:EKTAb) dropped to bottom of the pan-European Stoxx 600 on Wednesday after the Swedish radiation therapy group reported a fall in fourth-quarter profit that was larger than anticipated.

Adjusted earnings before interest and taxes during the three-month period slumped by 22% to SEK 651 million, missing JPMorgan estimates cited by Reuters.

In a statement, Chief Executive Gustaf Salford said the company had faced "challenging market conditions" during the quarter that impacted its returns.

Analysts at Jefferies said that inflationary pressures, along with weakness in its Americas and Europe, Middle East, and Africa regions, dented the results.

Should the losses hold, Elekta's stock is on track for its worst day since 2019.

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