Interim report January – March 2008

•Net sales amounted to 114,0 MSEK (118,9 MSEK the previous year). At comparable exchange rates net sales increased by 2 percent.

•Biotage’s operating result increased by 23 percent and amounted to 8.9 MSEK (7.2) and the operating margin amounted to 7.8 percent (6.1).

•The result after tax increased by 83 percent to 13.2 MSEK (7.2).

•The cash flow from operating activities amounted to 15.4 MSEK (14.2).

•Earnings per share amounted to 0.15 SEK (0.08).


Comments from CEO Torben Jörgensen
In the first quarter 2008 Biotage showed continued good profitability and improved margins. Sales increased by 2 percent at comparable exchange rates. In the Biosystems business area sales continue to develop positively, with an 11 percent increase at comparable exchange rates. The launch of the new Pyromark Q24 instrument took place in late March and I have expectations for successful sales.

Discovery Chemistry has to a large extent been affected by the restructuring of R&D in the big pharma companies, but despite this sales remain unchanged at comparable exchange rates. In the first quarter we launched a number of new products and we will make more new product launches in the second quarter, which should mean that we can strengthen our market position.

The development of exchange rates affects us negatively. Above all sales are affected, as a large part of our income is in USD and GBP. We can partly balance this as we have production for the Discovery Chemistry business area in the US as well as the UK.

The strategic evaluation work has resulted in a number of interesting possibilities, which are currently being pursued.


For further information, please contact:
Torben Jörgensen, President and CEO, phone: +46 707 49 05 84
Mats-Olof Wallin, CFO, phone: +46 705 93 52 73