CellaVision AB: Interim report January-March 2017
(Thomson Reuters ONE) -
Very strong start to 2017 with sales growth of 60 percent
January 1-March 31, 2017 Significant events after the period
close
* Net sales increased by 60 % to
SEK 93.1 million (58.3). * The company established a market
* Operating profit was SEK 34.3 support organization in the German-
million (13.9). speaking part of Europe.
* The operating margin was 36.9% * Distribution agreement for the
(23.9). veterinary market in the Americas.
* Profit before tax was SEK 34.5
million (14.2).
* Earnings per share were SEK 1.06
(0.42)
CEOs comments
CellaVision had an exceptionally good first quarter in 2017. Sales for the Group
grew by 60 percent to SEK 93.1 million (58.3) and the operating profit increased
to SEK 34.3 million (13.9), corresponding to an operating margin of 36.9 percent
(23.9). Cash flow for the quarter was SEK 15.6 million (13.0).
Market development
In the Americas, sales increased by 104 percent in the quarter and amounted to
SEK 56.0 million (27.6). In the USA and Canada we now see a market maturity in
which the majority of the human healthcare market chooses digital image analysis
rather than traditional microscopy.
APAC also reported strong growth compared with the relatively weak first quarter
of 2016. Sales growth was 188 percent, with sales of SEK 14.8 million (5.1)
after a positive performance, above all in Japan and China. During the quarter
we also completed the first installations in Korea, India and Indonesia.
In EMEA sales decreased by 13 percent to SEK 22.3 million (25.6) compared with
the strong first quarter of 2016. We have great confidence in EMEA and are
currently investing in local market support organizations in France and Germany,
which are important markets for CellaVision.
Geographical expansion
The recent years' growth in the Americas is mainly due to our having had a
presence for a long time, with our own local organizations for market support in
the USA and Canada. This long-term work has meant that CellaVision's technology
is the accepted industry standard in these countries, with consequent sound
market penetration.
In 2016 we established our own local organizations for market support in four
countries. We will continue with more establishments, starting first with
Germany in 2017. The ambition is to build up strong positions over time in
several important markets.
The veterinary market
In the first quarter of 2017 we received our first veterinary order outside the
Americas, from NMBU (the Norwegian University of Life Sciences). After having
adjusted the business model in 2016 for our veterinary offer, enabling us to
work via different distribution partners just as in the human healthcare market,
we contracted two different partners for distribution in the veterinary market;
Semacare for Oceania and Sysmex for the Americas.
Innovation
Development of a new technology platform, aimed at broadening our offer to
include small and mid-size laboratories in both human healthcare and the
veterinary market, is going as planned. The project has just entered an
intensive phase with careful market preparations ahead of the launch in 2018.
Developed partnerships
CellaVision works continually to develop collaboration with our various
distribution partners. An important part of this work is the e-learning platform
CellaVision® Academy, which enables our distribution partners and end customers
to receive training in the use of CellaVision's analyzers cost effectively. In
the first quarter of the year another training module was launched for
preparation of blood smears.
CellaVision's successes in recent years have generated a strong net cash balance
and this makes accelerated business development possible. The first quarter of
the year showed strong growth and CellaVision's assessment continues to be that
the long-term opportunities for growth are good. However, we see that even in
the future we will experience major fluctuations in sales between individual
quarters.
Zlatko Rihter,
President and Chief Executive Officer
Key Ratios
+---------------------------------------------------------------+
|(MSEK) Jan-Mar 2017 Jan-Mar 2016 Jan-Dec 2016|
+---------------------------------------------------------------+
|Net sales 93.1 58.3 265.0 |
+---------------------------------------------------------------+
|Gross profit 68.0 40.9 188.9 |
+---------------------------------------------------------------+
|EBITDA 36.4 15.9 82.4 |
+---------------------------------------------------------------+
|Operating profit 34.3 13.9 74.2 |
+---------------------------------------------------------------+
|Operating margin, % 36.9 23.9 28.0 |
+---------------------------------------------------------------+
|Profit/loss before tax 34.5 14.2 75.8 |
+---------------------------------------------------------------+
|Cash flow for the period 15.6 13.0 25.8 |
+---------------------------------------------------------------+
|Equity ratio, % 83.4 83.0 80.4 |
+---------------------------------------------------------------+
Questions concerning the interim report can be addressed to:
Zlatko Rihter, VD, CellaVision AB, Tel: 0733-62 11 06,
E-mail: zlatko.rihter(at)cellavision.se
Magnus Blixt, CFO, CellaVision AB, Tel: 0708-33 81 68
E-mail: magnus.blixt(at)cellavision.se
About CellaVision
CellaVision is an innovative, global medical technology company that develops
and sells its own leading systems for routine analysis of blood and other body
fluids in health care services. The products rationalize manual laboratory work,
and secure and support effective workflows and skills development within and
between hospitals. The company has leading-edge expertise in image analysis,
artificial intelligence and automated microscopy. Sales are via global partners
with support from the mother company in Lund and by the market support
organizations in the US, Canada, China, Japan, Dubai, Korea, Australia, France
and Germany.
In 2016 sales were SEK 265 million and sales continue to increase, with a growth
target of at least 15 % per year over an economic cycle. CellaVision's
registered office is in Lund, Sweden. The share is listed on the Nasdaq
Stockholm, Small Cap list. Read more at www.cellavision.com
CellaVision Interim report jan-march 2017:
http://hugin.info/132164/R/2101513/796835.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CellaVision AB via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 04.05.2017 - 08:20 Uhr
Sprache: Deutsch
News-ID 540208
Anzahl Zeichen: 7943
contact information:
Town:
Lund
Kategorie:
Business News
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