Elos Medtech Interim report, 1 January – 30 June 2015

• 23 April marked the conclusion of the acquisition of the North American company Onyx Medical LLC, based in Memphis, TN, in the US. The company is a leading supplier to the Trauma & Extremities market segment in the Orthopaedics area.
• Net sales rose to SEK 244.6 M (189.8), corresponding to an increase of 21.4%* mainly due to the acquisition of Onyx Medical. Order bookings amounted to SEK 222.9 M (205.5), up 1.8%*.
• Operating profit adjusted for non-recurring expenses totalled SEK 26.8 M (17.5) up 52.2%*. This improvement was mainly attributable to the acquisition of Onyx Medical and the volume growth reported by other units. Operating profit including non-recurring expenses corresponding to SEK 5.5 M (0) totalled to SEK 21.3 M (17.5).
• Profit after net financial items totalled SEK 18.6 M (15.1). Net financial items were positively impacted by exchange-rate differences of SEK 0.3 M (0.1).
• Profit after tax totalled to SEK 13.2 M (11.2), corresponding to SEK 2.18 (1.85) per share.
• Cash flow after investments totalled a negative SEK 145.8 M (pos: 28.1), of which corporate acquisitions accounted for a negative SEK 160.4 M.
• In accordance with a resolution by the Annual General Meeting, the company changed its registered name to Elos Medtech AB during the second quarter.

* Adjusted for exchange-rate fluctuations.

President and CEO, Johannes Lind-Widestam, comments:

“We experienced favourable sales growth in the second quarter, mainly due to the acquisition of Onyx. We also reported a continued healthy sales trend in the Dental Implant Systems and Diagnostics market segments. Operating profit continued to improve in line with our expectations due to the acquisition and as a result of our continued volume growth in other units. Order bookings during the second quarter grew 32.4%. However, we observed a temporary slowdown in the Medical Devices market segment, where we expect a slightly weaker trend in the near future. There is a high level of activity with respect to the integration business relations with Onyx and we hope to see strong growth figures in the Trauma & Spine market segment in the future.”

For further information, contact:
Johannes Lind-Widestam, President and CEO, 46 (0)705-41 72 22, e-mail: johannes.lind-widestam@elosmedtech.com
Ulrica Ehn, CFO, 46 (0)510-48 43 67, 46 (0)702-72 11 61, e-mail: ulrica.ehn@elosmedtech.com

The information in this interim report is such that Elos Medtech AB (publ) is obligated to publish in accordance with the Securities Market Act and/or the Financial Instruments Trading Act.
The information was issued for publication on 21 August 2015 at 08:00 a.m. (CET)

For additional information about the Elos Medtech Group, visit www.elosmedtech.com

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