CellaVision Year-end bulletin 2013 Strong close to 2013

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News Desk 2018

Feb 13, 2014 at 2:30 AM

CellaVision Year-end bulletin 2013

Strong close to 2013 January 1 - December 31, 2013 * Net sales increased by 6 % to 179.9 million (169.5). * Operating profit increased by 25 % to SEK 25.9 million (20.7). * Profit before tax increased to SEK 24.7 million (18.6). * Earnings per share increased to SEK 0.79 (0.27) * Cash and cash equivalents increased to SEK 57.9 million (46.2) at the end of the year. * More sales channels in EMEA through agreements with Beckman Coulter and Abbott. * A new product, DI-60, that has been integrated in our partner Sysmex automated line for blood analysis, made a positive contribution to sales in Q3 and Q4. * Increased initiatives in China generated strong sales growth. * The Board of Directors proposes an increased dividend to SEK 0.50 (0.40) per share for 2013. October 1 - December 31, 2013 * Net sales increased by 29 % to SEK 64.9 million (50.4). * Operating profit increased to SEK 16.3 million (6.8). * Profit before tax increased to SEK 16.2 million (6.1). * Earnings per share increased to SEK 0.54 (-0.13). * Strong sales growth in North America. * Continued sales growth in the Asia Pacific region. Key ratios (SEK million) Oct-Dec 2013 Oct-Dec 2012 Full year 2013 Full year 2012 Net sales 64.9 50.4 179.9 169.5 Gross profit or loss 39.8 31.7 112.6 110.1 Operating profit 16.3 6.8 25.9 20.7 Operating margin, % 25.1 13.5 14.4 12.2 Profit/loss before tax 16.2 6.1 24.7 18.6 Return on operating capital - - 45 46 % Cash flow for the period 15.3 -6.4 11.6 -10.6 Comments by CellaVision's CEO Yvonne Mårtensson: "After an excellent finish to 2013 we achieved six per cent sales growth and an operating margin of more than 14 per cent for the full year, despite a weak first half year. The historically strong fourth quarter exceeded our expectations with growth of 29 per cent compared with the same period in the previous year. The sales growth and the strong result can be explained by business brought forward from Q1 2014, our hard work during the year to support our partners in sales processes, and sound cost control at all stages. With an operating margin of more than 14 per cent for the full year, we are approaching our target of 15 per cent, while there is some way to go before we achieve the average sales growth target of 15 per cent per year. Initiatives in Asia and the Pacific region have turned out well and sales in the region have almost trebled compared with the previous year. Sales in EMEA and North America recovered in the second half of the year, but were down six and ten per cent respectively for the full year. It is gratifying that the integrated CellaVision and Sysmex product, DI-60, was well received and has now generated sales from all three geographical markets. In October a term sheet was signed with the Chinese distributor Mindray and an agreement is under discussion. In the year's closing quarter we also had the honor of receiving two Swedish industry awards; the LabTech Award and the PhotonicSweden Award. This is important confirmation of our competence in product development and successful global commercialization of our product idea. We continue to strengthen our market position with our unique concept that replaces manual microscopes and improves the process of blood analysis. During the year we extended our global partnerships and the work of making CellaVision the natural choice for large laboratories is continuing. Interest in our concept is increasing and we have confidence in our ability to utilize the great potential for further market penetration that exists." Questions concerning the report can be addressed to: Yvonne Mårtensson, CEO, CellaVision AB Tel: +46 708 33 77 82. Email: yvonne.martensson@cellavision.se Magnus Blixt, CFO, CellaVision AB Tel: +46 708 33 81 68. Email: magnus.blixt@cellavision.se [HUG#1761432]

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