· Order bookings amounted to SEK 5,128 M (5,224), equivalent to an increase of
In the second quarter order bookings increased 10* percent.
· Net sales increased 10* percent to SEK 4,355 M (4,180).
· EBITA amounted to SEK 555 M (599) before non-recurring items of SEK -61 M (
· In the second quarter EBITA amounted to SEK 407 (468) before non-recurring
items of SEK -27 M (-10).
· Net income amounted to SEK 183 M (273). Earnings per share amounted to SEK
0.48 (0.70) before dilution and SEK 0.48 (0.70) after dilution.
· Cash flow after continuous investments amounted to SEK -523 M (223). In the
second quarter cash flow after investments was SEK 61 M (398). Significantly
stronger cash flow is expected for the remainder of the year.
· Exchange rate movements compared to fiscal year 2012/13 are expected to have
a negative impact of about 5 percentage points on EBITA growth.
· The outlook in local currency is reiterated. In fiscal year 2013/14, net
sales is expected to grow by more than 10 percent in local currency. EBITA is
expected to grow by approximately 10 percent in local currency.
· Niklas Savander has been appointed new President and CEO for Elekta
effective May 1, 2014.
* Compared to last fiscal year based on constant exchange rates.
President and CEO comments
It is gratifying to see that our long-term growth strategy is continuing to be
successful. Elekta’s order bookings increased 10* percent in the second quarter.
In Europe, the Middle East and Africa order bookings was particularly strong and
increased by 32* percent. In North America, order bookings rose 21* percent,
which was significantly higher than the market as a whole. In Asia Pacific we
remain confident of the performance for the full year. In the quarter order
bookings declined, but this should be viewed in light of the sharp increase
noted in the preceding year.
Strong progress for Versa HDTM
Elekta is the technology leader in our industry and sales of our latest linear
accelerator, Versa HDTM, is developing strongly in Europe and North America.
Continuously stretching the boundaries for modern cancer care is an important
element in our assignment to improve the quality of life for people with cancer.
Accordingly, it was particularly rewarding to note the great interest in our
latest innovations presented at the ASTRO meeting in September. The launch of
Esteya®, our new solution for the treatment of skin cancer, has been very
successful. The new software solution Monaco® 5 recently received 510(k)
clearance and interest from customers is exceeding expectations.
Major investments in product development
Elekta’s important development project, MR Linac, is being conducted in close
collaboration with our users and will now be further intensified. Recently, our
research consortium comprising some of the world’s leading cancer clinics and
researchers convened, with MD Andersson Cancer Center of the US as host. It was
an enthusiastic group, representing a large proportion of the collective global
expertise in modern cancer care, which shared experiences and planned the next
steps in development work.
We are also continuing our efforts in training and education. In September, we
opened the Atlanta LINC (Learning and Innovation Center), in the US. The concept
is being deployed in other markets and we recently opened LINC Beijing in China.
Training and education is a key element in our strategy for emerging markets and
LINC Beijing will further strengthen our leading position and our commitment to
Strong sales growth
Sales increased 10* percent during the first six months of the year. The growth
was good in all regions.
EBITA, before non-recurring items, amounted to SEK 555 M for the first six
months. Exchange-rate effects had a negative impact of SEK -90 M. Compared to
the preceding year, the proportion of Leksell Gamma Knife® units in the product
mix was lower, but deliveries are expected to be stronger during the second half
of the year.
In line with the seasonal patterns of prior years, cash flow is expected to be
significantly stronger for the remainder of the year. Continuous investments
during the period increased by SEK 200 M over last year which is mainly
attributable to the MR Linac project and training and education centers. Cash
flow after continuous investments was SEK 61 M during the second quarter.
Outlook for the full-year unchanged
We reiterate the outlook for the full-year. Net sales is expected to grow by
more than 10 percent in local currency and EBITA is expected to grow by
approximately 10 percent in local currency. Our strategy is successful and our
efforts are generating benefits for shareholders and cancer patients. We will
continue to represent a pioneering spirit in modern cancer care and in the
treatment of neurological disorders. We have a proven strategy, a unique market
position, world leading technology and a firm commitment to continue develop
modern cancer care.
Tomas Puusepp, President and CEO
* Compared with last fiscal year, based on constant exchange rates.
Elekta will host a telephone conference at 10:00 – 11:00 CET on December 4, with
President and CEO Tomas Puusepp and CFO Håkan Bergström.
To take part in the conference call, please dial in about 5-10 minutes in
advance and use the access code 938863.
Swedish dial-in number: +46 (0)8 5052 0110, UK dial-in number: +44 (0)20 7162
0077, US dial-in number: + 1 877 491 0064.
The telephone conference will also be broadcasted over the internet (listen
only). Please use the link: https://engage.vevent.com/rt/elekta~elektaq2report
Interim report May– January 2013/14 February 27, 2014
Year-end report May – April 2013/14 May 28, 2014
For further information, please contact:
Håkan Bergström, CFO, Elekta AB (publ)
+46 8 587 25 547, email@example.com
Johan Andersson, Director Investor Relations, Elekta AB (publ)
+46 702 100 451, firstname.lastname@example.org (email@example.com)
Elekta AB (publ)
Corporate registration number 556170-4015
Kungstensgatan 18 – Box 7593 – SE 103 93 Stockholm, Sweden
The above information is such that Elekta AB (publ) shall make public in
accordance with the Securities Market Act and/or the Financial Instruments
Trading Act. The information was published at 07:30 CET on December 4, 2013.
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