CellaVision Year-end bulletin 2014 Year-end bulletin 2014

Year-end bulletin 2014 Strongest quarter in CellaVision's history and first major veterinary order. October 1-December 31, 2014 January 1-December 31, 2014 * Net sales increased by 12 % to SEK * Net sales increased by 21 % to 72.5 million (64.9). SEK 216.9 million (179.9). * Operating profit was SEK 16.8 million * Operating profit increased to (16.3). SEK 42.8 million (25.9). * Operating margin was 23.2 percent * Operating margin increased to (25.1). 19.7 percent (14.4). * Profit before tax was SEK 16.6 million * Profit before tax increased to (16.2). SEK 43.4 million (24.7). * Earnings per share were SEK 0.49 * Earnings per share increased to (0.54). SEK 1.32 (0.79). * CellaVision's first major order in the * The board of directors proposes veterinary market valued at more than a dividend increase to SEK 1 per SEK 12 million. share for 2014 (0.50). * Sysmex DI-60 and CellaVision® DM1200 approved for sale in China. CEO's comments We also increased expansion After being in place for a few weeks I potential in China through the can verify that my first impression of registration approval from the CFDA CellaVision as a well-run and for the Sysmex DI-60 and flour­ishing company is correct. I would Cellavision® DM1200. We assess that like to thank Yvonne Mårtensson who, the veterinary segment as limited together with all the competent but see opportunities of more em­ployees, built up the company to what potential business in the future. it is today. CellaVision has the potential to add We have a strong core business and it substantial customer value in the will be an inspiring challenge to take veterinary segment by adapting the CellaVision to the next level. It is product portfolio to the needs of gratifying that the positive sales trend the veterinary market. CellaVision's has been main­tained for the sixth primary focus in this segment lies quarter in a row. Sales in the quarter in the North American market, as it were SEK 72.5 million, with sales growth is relatively consolidated, with of 12 percent and an operating margin of large veterinary labo­ratories where more than 23 percent. This means that the sample volumes are high and the need historically strong fourth quarter of for an effective analysis method 2013 has now been surpassed. Strong sales great. growth in EMEA and our first veterinary We have completed the initial pre- business are some of the factors behind study, in collabora­tion with Clear the sales increase. We also had an Lake Medical Foundation, regarding advantageous change in the exchange rate the previously communicated for both euro and dollars, which together technology acquisition. The had a positive impact on earnings for the objective of expanding our current quarter of more than SEK 5 million. product portfolio with a platform For the full year 2014 growth of 21 for small laboratories remains and percent and an operating margin of 20 we are continuing an internal percent were achieved, with a positive development project. exchange rate impact on sales of 3 In 2014 a financial outcome was percent. Our sales trend was good, at the achieved that is the best in the same time as work on sound cost control company's history and in continued to bear fruit. This contributes acknowledgement of this the Board to our generating a strong cash flow from proposes that the dividend be operating activi­ties of SEK 40 million increased to one krona. CellaVision during the year. must have the ambition and curiosity CellaVision maintained a high pace of to continually improve patient innovation during the year, with the diagnoses, but also to be more launch of new software for advanced effective, cut costs and remove analysis of red blood cells, the sources of error in health care. We CellaVision®Advanced RBC Application and will achieve continued success by CellaVision® DM9600, which after a utilizing our core competency in somewhat slow start accelerated in terms digital image analysis, focusing on of sales. hematology. This is a fantastically exciting starting point for me as the new CEO. Zlatko Rihter, President and Chief Executive Officer +----------------------+------------+------------+--------------+--------------+ |MSEK) |Oct-Dec 2014|Oct-Dec 2013|Full year 2014|Full year 2013| +----------------------+------------+------------+--------------+--------------+ |Net sales | 72.5| 64.9| 216.9| 179.9| +----------------------+------------+------------+--------------+--------------+ |Gross profit | 50.5| 39.8| 145.1| 112.6| +----------------------+------------+------------+--------------+--------------+ |Operating profit | 16.8| 16.3| 42.8| 25.9| +----------------------+------------+------------+--------------+--------------+ |Operating margin, % | 23.2| 25.1| 19.7| 14.4| +----------------------+------------+------------+--------------+--------------+ |Profit/loss before tax| 16.6| 16.2| 43.4| 24.7| +----------------------+------------+------------+--------------+--------------+ |Return on operating | -| -| 62.0| 45.0| |capital % | | | | | +----------------------+------------+------------+--------------+--------------+ |Cash flow for the | -6.6| 15.3| -6.0| 11.6| |period | | | | | +----------------------+------------+------------+--------------+--------------+ Questions concerning the report can be addressed to: Zlatko Rihter, VD, CellaVision AB Tel: 0733-62 11 06. E-post: zlatko.rihter@cellavision.se Magnus Blixt, CFO, CellaVision AB Tel: 0708-33 81 68. E-post: magnus.blixt@cellavision.se Link text: CellaVision AB Year-end bulletin 2014 [HUG#1893768]