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]
