Interim report Vigmed Holding AB (publ) January – March 2015

  • Net Sales for the first quarter amounted to SEK 1.5 million (0 SEK in the first quarter 2014).
  • Operating profit in the first quarter for the Group amounted to SEK -9.1 million (SEK  -5.6 million).
  • Net income per weighted number of shares for the first quarter amounted to SEK  -0.21 (SEK -0.15).

With products delivered to eleven countries in Europe, Vigmed sales took off as expected during the first quarter of 2015, and closed just above SEK 1.5 million for the first three months, 35% higher than for the full year of 2014. In January however, some customer feedback indicated that a detail in the design could affect the robustness of the CLiP Winged product line. The issue itself was not of a kind that required a recall of the products, but distributors were informed and offered a replacement of their existing stock of the products in question.

As a consequence of the received feedback, some adjustments to the product design were made in order to meet the high quality requirements the company has set on its products. Vigmed’s distributors can expect to receive first deliveries of improved products at the beginning of July and onwards. These adjustments will however delay the market uptake by a few months, which is why the company will not meet previously communicated sales aspirations of 50 MSEK for 2015.

“It is currently difficult to foresee the immediate market up-take for this year, which is why we have decided not to give any new short-term sales forecast for 2015. The ongoing market launch of the CLiP product lines and the upcoming launch of SWiTCH allow us all however to look forward to the coming quarters with great confidence”, says Vigmed CEO Finn Ketler.

For further information contact:

Chairman of the board, Lennart Holm +46 70 630 8562 or CEO, Finn Ketler +46 42 600 5311

Vigmed is a Swedish medical technology company whose mission is to eliminate needlestick injuries and the associated risk of cross infections with blood-borne infectious diseases by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden, and has 20 employees. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and has approximately  5 600 shareholders. Remium Nordic AB is the Company’s Certified Advisor.


Additional information about the company can be found on Vigmed’s website: www.vigmed.com/investor

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Vigmed is a Swedish medical technology company whose mission is to eliminate needlestick injuries by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and the company has approximately 5 600 shareholders. Remium Nordic AB is the Company’s Certified Advisor. Additional information can be found on Vigmed’s home page: www.vigmed.com

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Quotes

It is currently difficult to foresee the immediate market up-take for this year, which is why we have decided not to give any new short-term sales forecast for 2015. The ongoing market launch of the CLiP product lines and the upcoming launch of SWiTCH allow us all however to look forward to the coming quarters with great confidence.
Finn Ketler, CEO Vigmed