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Year-end report 2010

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  • Net sales for the year were SEK 80.5 million (83.2). Currency effects had a negative impact on sales of SEK 8 million for the year.
  • Net sales for the fourth quarter were SEK 20.0 million (19.1). Currency effects had a negative impact on sales of SEK 1 million for the quarter.
  • The underlying sales growth of Olerup SSP products for the fourth quarter was very strong. Growth for Olerup GmbH in local currency was 11 % and for Olerup Inc. was a notable 36 %.
  • Operating loss (EBIT) for the year was SEK 8.1 million (+18.7), with a loss of SEK 4.0 million (+0.5) in the fourth quarter. Nonrecurring costs had a negative impact on fourth quarter results of SEK 3.3 million. In the comparative figures for 2009, Absorber is only included from November 18 and Olerup Inc. not at all.
  • Loss after tax for the year was SEK 13.6 million (+10.2).
  • Loss per share basic and diluted was SEK 0.58 (+0.69) for the year.
  • Equity per share was SEK 33.43 (34.71).

Key events in the fourth quarter     

  • LinkMed streamlined its organization in conjunction with new strategic direction.
  • LinkMed appointed Ondra Partners as financial advisors in conjunction with the ongoing exit processes.
  • The patient logistics solution PatLog® from ONCOlog Medical is included in the proton therapy facility that the Belgian company IBA has been commissioned to deliver to a new center in Dimitrovgrad, Russia.
  • ONCOlog Medical’s PatLog® system was installed at a radiotherapy center in Germany.
  • Likvor received an order for the Likvor CELDA® system from the Örebro University Hospital.

Key events after the period end

  • Distribution agreements for the Brazilian market were entered into by the transplantation companies
  • Likvor’s CELDA® system was purchased by the Kuopio University Hospital in Finland.
  • Olerup SSP increased its product range through two exclusive sales agreements.

Comments from CEO Ingemar Lagerlöf on the quarter:

“Our intensive marketing and sales efforts have started to generate strong results. The build-up of our operations in the U.S. involved costs of SEK 12 million for the year. It is therefore with great pleasure that I am able to announce a strong sales growth of 36 percent in the U.S. for the fourth quarter. Our European team also generated a solid 11 percent growth. Over the past two quarters we incurred higher one-off costs, amounting to SEK 9.9 million, in order to transform LinkMed from a broad life science investment company to a global operator in the transplantation sector. In 2011, we will work intensively to generate high growth, mainly organic; however, we may also expand our product range through acquisitions and licensing.”

For more information please contact:
Ingemar Lagerlöf, CEO, Cell +46 (0)70-873 2733 or email ingemar.lagerlof@LinkMed.se 
Okee Williams, Portfolio Manager, Cell +46 (0)70- 600 5364 or email okee.williams@LinkMed.se

The information in this interim report is such that LinkMed AB (publ) is required to disclose under the Securities Market Act and/or the Financial Instruments Trading Act. This information was released for publication on February, 25 2011 at 08:00 CET. This report and earlier financial reports are available at www.linkmed.se

LinkMed has two business areas, a commercial transplantation sector business with two subsidiaries and a venture portfolio comprising life science companies. The venture companies, all of which are associated companies, consist of four companies in drug development and biotechnology and six companies in diagnostics and medical technology. LinkMed is listed on NASDAQ OMX Stockholm, in the Small Cap sector (ticker symbol: LMED).

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