Year-end report 2006
Biotage achieves profit for the full year and continues its positive profit development in the fourth quarter
• For the full year 2006 Biotage reports a 2.8 MSEK profit (-39.9 MSEK last year). The positive development of the operating result and the result after tax continued during the fourth quarter. The cash flow for the operating activities was very strong in the fourth quarter.
• Net sales increased by 21% to 519.5 MSEK (430.4) in the full year 2006. At constant exchange rates and pro-forma* the full year increase was approx. 9%. In the fourth quarter net sales decreased by 1% and amounted to 136.6 MSEK (138.4). At constant exchange rates and pro-forma* the increase was a 7%.
• The operating result for the full year improved by 69.4 MSEK and amounted to 6.5 MSEK (-62.9). In the fourth quarter the operating result improved to 9.4 MSEK (-4.7).
• The result after tax amounted to 2.8 MSEK (-39.9) for the full year and to 11.0 MSEK (0.4) in the fourth quarter.
• Earnings per share amounted to 0.03 SEK (-0.57) for the full year and to 0.12 SEK (0.01) in the fourth quarter.
• The cash flow from operating activities has improved considerably and amounted to 39.9 MSEK (-21.7) for the full year and to 28.0 MSEK (10.2) in the fourth quarter. The positive cash flow development is among other things attributable to the positive results development and to improvements of the working capital.
• The Biosystems business area developed very well, in the fourth quarter as well as in the full year. Sales have increased and the business area has had good profitability in 2006.
• Biotage is running five major product development projects. In the first six months of 2007 we will launch a new series of consumables and re-launch the company’s evaporation system.
* Note: Pro-forma refers to an adjustment for the distribution of Corbett’s products in the Biosystems business area (divested in 2005), and for the Argonaut business in the Discovery Chemistry business area (acquired on June 3, 2005). The pro-forma figures have not been subject to review by the company’s accountant.