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Interim report January - September 2011

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For the third quarter July - September

  • Net sales for the quarter were SEK 26.3 million (19.1), an increase of 37.7 percent. Third quarter results include sales from Olerup GmbH, which from June 1 is a part of the group.
  • Operating loss (EBIT) for the quarter was SEK 0.2 million (-8.0).
  • Loss after tax was SEK 59.3 million (-8.4). The results were impacted with the write down of the value of the associated companies of SEK 56.2 million for the quarter.
  • Loss per share, basic and diluted, was SEK 3.47 (-0.42).

For the January - September period

  • Net sales for the period were SEK 71.2 million (60.6), an increase of17.5 percent.
  • Operating loss (EBIT) for the period was SEK 12.1 million (-4.1) Non-recurring costs of about SEK 7 million impacted results for the period.
  • Loss after tax for the period was SEK 432.9 million (-8.4). The results were impacted with the write down of the value of the associated companies of SEK 413.9 million, of which SEK 56.2 million was charged to the third quarter.
  • Loss per share for the first nine months of the year, basic and diluted, was SEK 25.09 (-0.33).
  • Equity per share was SEK 9.00 (33.54).
  • Equity/assets ratio was 36 (68) percent.

Key events in the third quarter

  • The Board decided September 20 to implement a guaranteed rights issue in Allenex of up to SEK 154.7 million with preferential rights for existing shareholders.
  • In conjunction with the decision to implement a rights issue, Allenex presented its long-term financial objectives for the Group.
  • In August, Allenex’s divestment of holdings in NovaHep AB and Recopharma AB was finalized.
  • In July, Olle Olerup left the position of CEO of the Allenex subsidiary Olerup SSP AB.

Key events after the period end

  • A rights issue in Allenex was implemented during the September 30 – October 21 period, providing the company with a cash injection of approximately SEK 108.6 million before issue costs. In addition, Allenex’s convertible (KV1) was reduced by SEK 44.1 million by offsetting against shares.
  • In conjunction with the completion of the Allenex rights issue, it was announced that the two largest shareholders in Allenex, Mohammed Al Amoudi and FastPartner AB (publ), subscribed to new shares corresponding to their share of the issue and in addition subscribed to additional shares in accordance with the guarantee undertaking. As a result, their respective ownership stakes in the company are over 30 percent of the shares and votes in Allenex, reaching the limit for a mandatory bid on Allenex.
  • In October, AbSorber won patent protection in the U.S. for its diagnostic cross-match test XM-ONE®.
  • At the annual ASHI congress (The American Society for Histocompatibility and Immunogenetics) held in mid-October in New Orleans, Allenex presented for the first time under the new company name its extended transplantation product portfolio.

CEO Anders Karlsson’s comments on the third quarter 2011:
“The greatly improved operating results for the third quarter are a good indication of what the company is capable of delivering. Above all, sales in North America continue to show strong growth, while steady growth also continues in Europe. We are now beginning to see that our investments in proprietary sales channels in recent years is generating returns. In mid-October, Allenex participated in the annual tissue typing congress, ASHI, in New Orleans, at which response from customers was very positive. We have rapidly built up a good reputation in the North American market and our products continue to win market share. During the quarter, we continued our work to make operations more efficient and have established a joint operating organization for our entire transplantation sector operations. Going forward, we will continue to see significantly lower costs in terms of synergies and rationalization as a result of the streamlining.”


Allenex AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13:00 (CET) on November 16, 2011.

For more information please contact:
Anders Karlsson, CEO tel: +4670-918 00 10, email: anders.karlsson@allenex.se
Okee Williams, Portfolio & IR Manager tel: +4670-60 053 64, email: okee.williams@allenex.se

Or visit www.allenex.se

Allenex is a life science company that develops, manufactures, markets and sells high quality products and services that facilitate safer transplants with better results. Allenex is listed on NASDAQ OMX Stockholm, Small Caps, (ticker: ALNX). The Allenex-group had a total of 59 employees at the period end.

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