Interim report May - July 2011/12

Interim report May - July 2011/12


  · Order bookings increased 2* percent to SEK 1,700 M (1,889).
  · Net sales was unchanged* on SEK 1,428 M (1,627).
  · Operating result amounted to SEK 92 M (153).
  · Net income amounted to SEK 46 M (103).
  · Earnings per share amounted to SEK 0.50 (1.11) before dilution and
SEK 0.50 (1.09) after dilution.
  · Cash flow from operating activities amounted to SEK 159 M (-30).
Cash flow after investments was SEK 108 M (-285), including acquisition
effects of SEK -32 M (-240).
  · Elekta has signed a definitive agreement to acquire Nucletron, the
world leader in brachytherapy treatment planning and delivery. The
transaction remains subject to regulatory approval and is set for
completion in the near future.
  · For fiscal year 2011/12, net sales is expected to grow by more than
10 percent in local currency. Operating profit in SEK is expected to
grow by more than 10 percent. Currency is estimated to have a negative
effect of about SEK 125 M including hedging effects on earnings for
fiscal year 2011/12.

Table included in attached PDF file

* Compared to last fiscal year at unchanged exchange rates.

President and CEO comments

I am pleased to report that the first three months of the fiscal year
were in line with our expectations, and I am confident of our
performance for the rest of the fiscal year.

All regions performed in line with our expectations as far as order
bookings were concerned. In region Europe, Middle East and Africa order
bookings were lower compared to the corresponding period of last year.
However, it is important to keep in mind that this region in particular
experienced very strong growth during the first quarter of the previous
fiscal year due to a large order in Russia. Activity in the region
remained robust.

Order bookings continued to rise rapidly in region Asia Pacific. In
Japan, reconstruction work following the earthquake earlier this year,
has been the main priority, causing some delays in investment decisions
in cancer treatments. The positive trend in demand continued in North
and South America with particularly good development in the United
States.

Our assessment is that recent financial uncertainty has not affected
market conditions. Lifesaving treatment like cancer care will remain a
priority area for healthcare investments and for care providers around
the world. Nevertheless we are continually monitoring international
developments, and we have the preparedness and flexibility to adapt to
changing circumstances.

Elekta is a leader in most growth markets, which now account for
approximately one-third of net sales. We expect the pace of our
geographical expansion to accelerate over the next few years, providing
more people with access to cancer care. Moreover, we anticipate that our
installed base will continue to broaden in both established and emerging
markets.

The Nucletron acquisition, which is set for completion in the near
future, further improves our growth prospects. An integrated offering
ensures a more complete range of cancer treatment options. Our
combination of brachytherapy and external radiation therapy reinforces
our leading treatment methods for patients everywhere.

Net sales for the first three months, which also is the weakest period
of the fiscal year, was flat in local currency compared to the
corresponding period of last fiscal year. This has led to a weaker
operating profit. However, we expect a normal seasonal trend for the
fiscal year, with a significantly higher operating profit in the second
half of the year compared to the first half.

Elekta's order backlog is on a record level and is another strong
indication of the growth prospects for the current fiscal year.

Our outlook for fiscal year 2011/12 is unchanged. For the fiscal year
2011/12, Elekta's net sales is expected to grow by more than 10 percent
in local currency. Operating profit in SEK is expected to grow by more
than 10 percent. Currency is estimated to have a negative effect of
about SEK 125 M including hedging effects on earnings for fiscal year
2011/12.

Tomas Puusepp
President and CEO

For further information, please contact:

Håkan Bergström, CFO, Elekta AB (publ)
+46 8 587 25 547, hakan.bergstrom@elekta.com

Stina Thorman, Vice President Corporate Communications, Elekta AB (publ)
+46 8 587 25 437, stina.thorman@elekta.com

Johan Andersson Melbi, Investor Relations Manager, Elekta AB (publ)
+46 702 100 451,
johan.anderssonmelbi@elekta.com (johan.anderssonmelbi@elekta.com)

Elekta AB (publ)
Corporate registration number 556170-4015
Box 7593, SE 103 93 Stockholm, Sweden