Cryo-Save Group N.V.: Revenue up 8% to ?10.4 million and operating profit up 53% to ?1.3 million
(Thomson Reuters ONE) -
Cryo-Save Group N.V. (Euronext: CRYO, 'Cryo-Save', or 'the Group'), the leading
international family stem cell bank, announces its trading update for the
quarter ended 31 March 2011.
Highlights for the first quarter 2011 were:
* Revenue up 8% to ?10.4 million (Q1 2010: ?9.6 million)
* EBITA(*) up 38% to ?1.6 million (Q1 2010: ?1.2 million)
* Operating profit up 53% to ?1.3 million (Q1 2010: ?0.8 million)
* Net profit up 61% to ?0.9 million (Q1 2010: ?0.6 million)
* 9,600 new samples stored in first quarter 2011, up 10% (Q1 2010: 8,800): Of
these 6,200 were new cord blood samples and 3,400 new cord tissue samples
* 175,000 samples now stored in total
* Levels of new customers opting for the combined service of cord blood and
cord tissue storage sustained at over 60%
* Acquisition of Serbian distributor Life R.F. doo for ?2.3 million in cash
and 30,000 Cryo-Save shares, with an option to acquire the remaining 30% of
the shares of Life R.F. in the next 3 years. The acquisition was earnings
enhancing with immediate effect.
* A girl from Cadiz in Spain, known as Alba, has recovered from
medulloblastoma, a highly malignant brain tumor, after receiving her own
stem cells as part of her treatment. These stem cells were obtained from her
umbilical cord at birth and were stored by Cryo-Save in Belgium. After
surgery and chemotherapy the stem cell transplantation fully rebuilt her
immune system. Alba no longer requires any medication and can live a normal
life.
* The Group completed another tranche of its share buyback programme and has
repurchased 100,000 shares during the period 6 January 2011 until 12 January
2011. The shares were repurchased at an average price of ? 5.20.
* The Board proposed a dividend of ?0.07 per share for the year ended 31
December 2010 (2009: ?0.06), a 17% increase on last year. This is the third
consecutive year that Cryo-Save has proposed a dividend increase,
demonstrating the Board's strong belief in the Group's prospects.
(*)EBITA is defined as Earnings Before Interest, Taxation and Amortisation of
identified intangible assets.
Highlights after 31 March 2011 were:
* Cryo-Save has offered to store the autologous adult stem cells of Japanese
nuclear workers at the Fukushima nuclear power plant. Following recent
scientific studies, which have shown that stem cells are able to repair the
damage caused by high radiation exposure, Japan is looking to store the stem
cells of nuclear rescue workers, but fears that it may run out of storage
capacity and has asked for help. Cryo-Save is also examining whether pre-
emptive and potentially life-saving stem cell storage measures could be made
available to all nuclear power workers around the world.
Arnoud van Tulder, Chief Executive officer, commented:
"These strong results are very positive and demonstrate that the uptake of our
combined service can be sustained at a good level.
"Our ultimate goal has always been to contribute to innovative technologies that
can provide new cures, and we are seeing daily proof that stem cell
transplantation works. The successful treatment of Alba and the potential of
stem cell treatments for radiation underpin the value of storing your own stem
cells, as well as the quality of Cryo-Save's processing and storage procedures."
Enquiries:
Cryo-Save Group, Arnoud van Tulder, Chief Executive Officer, + 31 (0)
575 548 998
SPJ Financiële Communicatie (The Netherlands), Kees Jongsma/Leon Melens, +31
(0)20 647 8181
Daniel Stewart & Company plc (UK), Christopher Theis, + 44 (0) 20 7776 6550
College Hill (UK), Rozi Morris/ Adrian Duffield, + 44 (0) 20 7457 2020
Free footage is available on www.videobankonline.com.
About Cryo-Save (www.cryo-save.com/group)
Cryo-Save, the leading international family stem cell bank, already stores
175,000 samples from cord blood and umbilical cord tissue for newborns and
adipose tissue for adults. These stem cells can mean the difference between life
and death in the case of future threats to the health of the donors. There are
already several diseases that can be cured by the use of stem cells, and the
number of treatments will only increase. Driven by its international business
strategy, Cryo-Save is now represented in 40 countries on three continents, with
ultra-modern processing and storage facilities in Belgium, Germany, Dubai, India
and France (validation in progress).
Click here for full press release in PDF:
http://hugin.info/143308/R/1513621/449514.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Cryo-Save Group N.V. via Thomson Reuters ONE
[HUG#1513621]
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2011 - 07:01 Uhr
Sprache: Deutsch
News-ID 54437
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