Q1 19/20: Strong sales growth and successful integration of acquisitions
CELLINK publishes the quarterly report for the period 1st of September 2019 – 30th of November 2019. The report is available on the company's website: https://cellink.com/investors/ This press release presents a summary of the report.
First quarter
- Net sales rose to 46,430 kSEK (19,971 kSEK), corresponding to an increase of 132% (148%) compared to the first quarter of the previous financial year, of which 51% (148%) was organic growth.
- Operating profit before depreciation and amortization (EBITDA) amounted to -884 kSEK (1,595 kSEK), corresponding to a negative margin (8.0%).
- Net income amounted to -5,147 kSEK (667 kSEK), which generated earnings per share of -0.53 SEK (0.08 SEK) after dilution.
Significant events during the period
Events during the quarter (Sept.-Nov. 2019)
- September 3: CELLINK launched a new product designed to be the most flexible bioprinting platform with six printheads on the market.
- October 1: CELLINK was granted a design patent for BIO X.
- October 2: CELLINK announced that the company was awarded the Merck Innovation Award for the latest technology designed to enhance pharmaceutical research.
- October 14: The company announced that CELLINK’s four founders had been named ”Entrepreneurs of the Year 2019” in Sweden.
- October 22: Research was published from the Karolinska Institute that shows I-DOT’s ability to facilitate genetic research in cancer diagnosis.
- October 25: CELLINK announced the opening of a new office in France.
- November 4: A study was published from Rensselaer Polytechnic Institute demonstrating CELLINK technology’s capability to produce live skin models.
- November 21: CELLINK released two new bioinks, an expansion of three existing series, a new thickener series and two products to improve cell analysis. The products will be launched on a timeline through January 2020.
Events after the end of the period
- December 13: The Board set financial targets for the Group during the 2019-2022 period. CELLINK's goal is to grow organically by at least 35% per year and to grow further through acquisitions. CELLINK's goal is also to show a positive EBITDA margin. Normally, the company's net debt compared to EBITDA should not exceed a factor of three.
- December 18: The Annual General Meeting was held. It was decided to implement a 4:1 stock split, extend the company's fiscal year to December 31, 2020 and to establish a new long-term incentive program for employees and the board of directors within the CELLINK Group.
- December 19: It was announced that BIO X won the GOOD DESIGN award from The Chicago Athenaeum Museum of Architecture and Design and Metropolitan Arts Press Ltd.
- December 23: An agreement was signed for a new production area in Gothenburg, increasing the production area size from 300 to 1600 meters squared.
- January 10: The 4:1 stock split was implemented.
For further information, please contact:
Erik Gatenholm, CEO Gusten Danielsson, CFO
Phone: EU +46 73 267 00 00 Phone: +46 70 991 86 04
US +1 (650) 515 5566 US +1 (857) 332 2138
Email: eg@cellink.com Email: gd@cellink.com
Important information
This information is such information as CELLINK AB is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on January 20, 2020 at. 08:30 CET.
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
About CELLINK
CELLINK is the leading 3D bioprinter provider and the first bioink company in the world. We focus on developing and commercializing bioprinting technologies to allow researchers to print human organs and tissues for pharmaceutical and cosmetic applications. Founded in 2016 and active in more than 50 countries, CELLINK is changing the future of medicine as we know it. Visit www.cellink.com to learn more. CELLINK is listed on Nasdaq First North Growth Market under CLNK. Erik Penser Bank AB is the company’s certified adviser, available by phone at +46 846 383 00 and by email at certifiedadviser@penser.se.