Elos Interim report, 1 January–31 March 2015

• 23 April marked the conclusion of the acquisition of the North American company, Onyx Medical LLC, based in Memphis, TN, US. The company is a leading supplier to the Trauma & Extremities segment in the Orthopaedics area.
• Net sales increased and totalled SEK 105.5 M (88.5), a rise of 11.7%*. Order bookings amounted to SEK 96.1 M (115.4), down 21.6%*.
• Operating profit totalled SEK 5.7 M (6.3). Earnings for the quarter were adversely affected by non-recurring expenses of SEK 4.5 M (0). Adjusted for these items, operating profit amounted to SEK 10.2 M, with the year-on-year improvement mainly due to a positive volume trend.
• Profit after net financial items totalled SEK 7.6 M (4.3). Net financial items were positively impacted by exchange-rate gains of SEK 2.9 M (losses: 0.5).
• Profit after tax for continuing operations amounted to SEK 5.6 M (3.2), corresponding to SEK 0.93 (0.53) per share.
• Cash flow after investments totalled SEK 6.2 M (3.0).

* Adjusted for exchange-rate fluctuations during the year.

President and CEO, Johannes Lind-Widestam, comments:
”During the first quarter, we were able to transform the robust order bookings during 2014 into deliveries. Sales rose 11.7%, adjusted for exchange-rate differences. The underlying operating profit, adjusted for non-recurring items, amounted to SEK 10.2 M and has continued to move in a positive direction, with a year-on-year improvement of some 60%. Order bookings for the quarter were lower than in the year-earlier period. The decline was due to a combination of intense order bookings during Q1-2014, plus a reduction in lead times to customers. Customers place orders for delivery with shorter lead times. The underlying order trend remains positive.

The acquisition of Onyx provides a platform in the North American market, which we have aimed at, and will significantly raise our market share in the Trauma and Spine area. The acquisition will have a directly positive impact on the Group’s earnings per share on an annual basis, as well as on other key data.”

For further information, contact:
Johannes Lind-Widestam, President and CEO, 46 (0)705-41 72 22, e-mail: johannes.lind-widestam@elos.se
Ulrica Ehn, CFO, 46 (0)510-48 43 67, 46 (0)702-72 11 61, e-mail: ulrica.ehn@elos.se

The information in this interim report is such that Elos AB (publ) is obligated to publish in accordance with the Securities Market Act and/or the Financial Instruments Trading Act.
The information was issued for publication on 27 April 2015 at 13:00 a.m. (CET)

For additional information about the Elos Group, visit www.elos.se

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