YEAR-END REPORT VIGMED HOLDING AB JANUARY 1 – DECEMBER 31 2014
During the past year Vigmed has launched three new products in the market: CLiP® Ported, CLiP® Winged and CLiP® Neo. In December 2014 the Company received CE mark for the new product line SWiNG, which was then launched in January 2015. A new safety solution for arterial catheters - SWiTCH - is currently in its validation phase and will be ready for launch in September.
The company has signed distribution agreements for most of the priority markets within EU and these distributors can now meet EU requirements of moving from non-safety to safety products by including Vigmed’s patented safety solutions in public tenders.
Establishing presence in the European markets is currently in focus, at the same time products and partnerships for the US and China markets are being prepared.
In December 2014, a rights issue of 6,261,904 new shares was conducted in which Vigmed Holding AB raised MSEK 52.1. This allows Vigmed to focus on market penetration and further develop innovative products.
The organization has been strengthened by an additional five employees. Vigmed is now ready with a competent, experienced and well-motivated team to take the next step in the commercialization of Vigmed’s safety products.
Financial information for the fourth quarter in brief
- Net Sales for the fourth quarter amounted to kSEK 685 (0 SEK in 2013).
- Operating profit in the fourth quarter for the Group amounted to MSEK -9.6 (MSEK -4.6).
- Net income per weighted number of shares for the fourth quarter amounted to SEK -0.26 (SEK-0.12).
- Cash flow from operating activities during the fourth quarter amounted to SEK -4.2 million (SEK -4.4 million).
- Cash flow from investing activities during the fourth quarter amounted to MSEK -10.9 (MSEK -4.0).
- Cash flow from financing activities during the fourth quarter amounted to MSEK 59.4 (MSEK -0.3). The positive cash flow from financing activities relates mainly to the rights issue of net MSEK 52.1.
Financial information for the year in short
- Net Sales for the year amounted to kSEK 1,124 (0 SEK during 2013).
- Operating profit for the year for the Group amounted to MSEK -32.0 (MSEK -21.0).
- Net income per weighted number of shares for the year amounted to SEK -0.85 (SEK-0.65).
- Cash flow from operating activities during the year amounted to MSEK -20.9 (MSEK -23.3).
- Cash flow from investing activities during the year amounted to MSEK -17.5 (MSEK -12.3).
- Cash flow from financing activities amounted to MSEK 60.0 (MSEK 24.8). The financing relates mainly to the rights issue of MSEK 52.1.
- Cash and cash equivalents at end of period amounted to MSEK 63.5 (MSEK 41.8).
- The shareholders’ equity at the end of the period amounted to MSEK 73.8 (MSEK 53.4).
The Board of Directors of Vigmed Holding AB
For additional information please read the full Year-End Report
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 by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden, and has approximately 20 employees. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and has approximately 5 400 shareholders. Remium Nordic AB is the Company’s Certified Advisor.
Additional information such as company description, a video presentation and risk factors can be found on Vigmed’s website: www.vigmed.com/investor