Year-End Report Vigmed AB Holding (publ) January 1 – December 31, 2015

Financial information for the fourth quarter

  • Net Sales for the fourth quarter amounted to kSEK 1,116 (kSEK 685 in the fourth quarter 2014).
  • Operating profit in the fourth quarter for the Group amounted to  MSEK -21.4 (MSEK -9.6).
  • Net income per weighted number of shares for the fourth quarter amounted to  SEK -0.51 (SEK-0.26).
  • Cash flow from operating activities during the fourth quarter amounted to  MSEK -6.1 (MSEK -4.2).
  • Cash flow from investing activities during the fourth quarter amounted to  MSEK -1.8 (MSEK -3.5).
  • Cash flow from financing activities during the fourth quarter amounted to  MSEK 50.6 (MSEK 52.0). The positive cash flow from financing activities relates to the rights issue of net MSEK 50.6 MSEK (MSEK 52.1).

  Financial information for 2015 in brief  

  • Net sales in 2015 amounted to MSEK 4.2 (MSEK 1.1 in 2014).
  • Operating result for the year for the Group amounted to MSEK -48.2 (MSEK -32.0).
  • Net income per weighted number of shares for the year amounted to SEK -1.14 (SEK-0.85).
  • Cash flow from operating activities during 2015 amounted to MSEK -40.3 (MSEK -20.9).
  • Cash flow from investing activities during the year amounted to MSEK -7.4 (MSEK -10.1). Investments in 2015 are mainly development costs relating to SWiTCH and Vigclip 3.
  • Cash and cash equivalents at end of period amounted to MSEK 65.4 (MSEK 63.5).
  • The shareholders’ equity at the end of the period amounted to MSEK 74.3 (MSEK 73.8).

Sales for the year amounted to MSEK 4.2 (MSEK 1.1 in 2014). Sales consisted of both the infusion product line CLiP® and the newly launched arterial catheter SWiTCH which were delivered to 16 of our distributors, mainly on the European market. Vigmed has signed agreements with new distributors and commenced sales to the majority of these during the year. 

Feedback from some customers pointed out a detail in the design, affecting the robustness of some of the CLiP products. After thorough analysis, the product design was modified and updated. A new version, Vigclip® 3, has been successfully launched during the end of the year and the response has been positive on the market.

Henrik Olsen was appointed interim CEO in Vigmed Holding AB (publ) in October after the decision of refocusing the Group’s resources on sales. This was followed by a reorganization which resulted in a smaller and more focused management team as well as the workforce being reduced by four people.  

Vigmed took over the supply chain from the Danish partner, MBH International A/S and shipped its first order of the needle protected arterial catheter Vigmed® SWiTCH from the newly established warehouse.

A rights issue was fully subscribed in December and Vigmed received MSEK 50.6 after deduction of issuance costs.

For further information contact:

Chairman of the board, Lennart Holm +46 70 630 8562 or CEO, Henrik Olsen +46  76 349 7364

Vigmed är ett svenskt medicinteknologiskt bolag vars mission är att eliminera nålssticksskador och risken för smittspridning av farliga blodburna infektionssjukdomar genom att  erbjuda marknaden unika nålskyddade stickprodukter. Vigmed har sitt huvudkontor i Helsingborg. Vigmeds aktie handlas på NASDAQ OMX First North under kortnamnet VIG och har cirka 5 600 aktieägare. Remium Nordic AB är bolagets Certified Advisor. Ytterligare information om bolaget återfinns på Vigmeds hemsida: www.vigmed.com/investor

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About Us

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