Interim report January - June 2012

2012-07-13 - 08:30

Strong sales growth in Asia and strengthened operating income

Second quarter
Group, including discontinuing operations

  • Sales growth was 20 percent in local currency. Sales were the highest ever for a single quarter and amounted to SEK 109 (88) million, corresponding to an increase of 25 percent in SEK.
  • Sales growth within Fertility was 21 percent in local currency and 25 percent in SEK and was generated primarily by continued strong sales growth in Asia. Sales growth within Transplantation was 18 percent in local currency and 25 percent in SEK.
  • Operating income (EBIT) amounted to SEK 17 (13) million, corresponding to an increase of 32 percent. The operating margin was 15 (14) percent. Income before tax amounted to SEK 18 (15) million. Net income amounted to SEK 13 (10) million, which gave earnings per share of SEK 0.67 (0.51).
  • Dividend of SEK 0.60 (0.60) per share, in total SEK 11,737,661 (11,735,914).
  • Thomas Axelsson appointed as CEO of Vitrolife.
  • Vitrolife entered into an agreement to acquire Cryo Management Ltd, one of the world’s leading players within time-lapse for IVF, based in Hungary.
  • Application for sales approval of STEEN Solution™ in the USA was submitted to the US Food and Drug Administration, FDA, after the end of the reporting period.

First half year
Group, including discontinuing operations

  • Sales growth was 16 percent in local currency. Sales amounted to SEK 209 (176) million, corresponding to an increase of 19 percent in SEK. Sales growth within Fertility was 15 percent in local currency and 18 percent in SEK. Sales growth within Transplantation was 17 percent in local currency and 24 percent in SEK.
  • Operating income (EBIT) amounted to SEK 32 (23) million, corresponding to an increase of 40 percent. The operating margin was 15 (13) percent. Income before tax amounted to SEK 32 (27) million. Net income amounted to SEK 23 (19) million, which gave earnings per share of SEK 1.15 (0.96).
  • The Board decided to begin preparations for a spin-off of the transplantation business. It is planned that the spin-off will take place during the second half of 2012 through distribution of the shares in the subsidiary Xvivo Perfusion AB in accordance with “Lex Asea”.

July 13, 2012

Gothenburg, Sweden

VITROLIFE AB (publ)

Thomas Axelsson

CEO                  


Queries should be addressed to:

Thomas Axelsson, CEO, phone 46 31 721 80 01

Mikael Engblom, CFO, phone 46 31 721 80 14

Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on July 13, 2012 at 08:30 a.m.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.