CellaVision Year-end bulletin 2014

2015-02-12 - English

Year-end bulletin 2014
Strongest quarter in CellaVision's history and first major veterinary order.

October 1-December 31, 2014

  • Net sales increased by 12 % to SEK 72.5 million (64.9).
  • Operating profit was SEK 16.8 million (16.3).
  • Operating margin was 23.2 percent (25.1).
  • Profit before tax was SEK 16.6 million (16.2).
  • Earnings per share were SEK 0.49 (0.54).
  • CellaVision's first major order in the veterinary market valued at more than SEK 12 million.
  • Sysmex DI-60 and CellaVision® DM1200 approved for sale in China.

January 1-December 31, 2014

  • Net sales increased by 21 % to SEK 216.9 million (179.9).
  • Operating profit increased to SEK 42.8 million (25.9).
  • Operating margin increased to 19.7 percent (14.4).
  • Profit before tax increased to SEK 43.4 million (24.7).
  • Earnings per share increased to SEK 1.32 (0.79).
  • The board of directors proposes a dividend increase to SEK 1 per share for 2014 (0.50).
 
CEO's comments
After being in place for a few weeks I can verify that my first impression of CellaVision as a well-run and flour­ishing company is correct. I would like to thank Yvonne Mårtensson who, together with all the competent em­ployees, built up the company to what it is today.
We have a strong core business and it will be an inspiring challenge to take CellaVision to the next level. It is gratifying that the positive sales trend has been main­tained for the sixth quarter in a row. Sales in the quarter were SEK 72.5 million, with sales growth of 12 percent and an operating margin of more than 23 percent. This means that the historically strong fourth quarter of 2013 has now been surpassed. Strong sales growth in EMEA and our first veterinary business are some of the factors behind the sales increase. We also had an advantageous change in the exchange rate for both euro and dollars, which together had a positive impact on earnings for the quarter of more than SEK 5 million.
For the full year 2014 growth of 21 percent and an operating margin of 20 percent were achieved, with a positive exchange rate impact on sales of 3 percent. Our sales trend was good, at the same time as work on sound cost control continued to bear fruit. This contributes to our generating a strong cash flow from operating activi­ties of SEK 40 million during the year.
CellaVision maintained a high pace of innovation during the year, with the launch of new software for advanced analysis of red blood cells, the CellaVision®Advanced RBC Application and CellaVision® DM9600, which after a somewhat slow start accelerated in terms of sales.
We also increased expansion potential in China through the registration approval from the CFDA for the Sysmex DI-60 and Cellavision® DM1200. We assess that the veterinary segment as limited but see opportunities of more potential business in the future. CellaVision has the potential to add substantial customer value in the veterinary segment by adapting the product portfolio to the needs of the veterinary market. CellaVision's primary focus in this segment lies in the North American market, as it is relatively consolidated, with large veterinary labo­ratories where sample volumes are high and the need for an effective analysis method great.
We have completed the initial pre-study, in collabora­tion with Clear Lake Medical Foundation, regarding the previously communicated technology acquisition. The objective of expanding our current product portfolio with a platform for small laboratories remains and we are continuing an internal development project.
In 2014 a financial outcome was achieved that is the best in the company's history and in acknowledgement of this the Board proposes that the dividend be increased to one krona. CellaVision must have the ambition and curiosity to continually improve patient diagnoses, but also to be more effective, cut costs and remove sources of error in health care. We will achieve continued success by utilizing our core competency in digital image analysis, focusing on 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 capital % - - 62.0 45.0
Cash flow for the period -6.6 15.3 -6.0 11.6

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

PDF version: CellaVision Year-end bulletin 2014

Subscribe to updates

It's possible to subscribe to CellaVision's press releases, financial information by e-mail and SMS.

Click here to register


Information request

Are you looking for some particular information about our company or our business?

Click here to get in touch


Analyst

ABG Sundal Collier AB
Sten Gustafsson
+46 8 566 286 93

Pareto Securities AB
Christian Lee
+46 8 402 52 67

 

Access our Student Resources

To access this resource, please provide the following information about yourself.