Year-end report, January 1 - December 31 2012

(For complete report, please see attached file)

Biolight’s strong sales growth continues

“Biolight’s sales during the fourth quarter 2012 were very strong. Our active sales efforts have continued to bear results. During the fourth quarter, we maintained our third quarter sales volume and revenue levels. In 2013, we will continue to work the markets, but even more intensively and through more retailers,” says Pär Olausson Lidö, Biolight’s President.

Biolight AB (publ)

Year-end report, January 1 – December 31 2012


  • Net sales increased by 72% to SEK 2,159 thousand (1,258) in the fourth quarter, and by 26% to SEK 7,613 thousand (6,035) for the whole year
  • Net operating result for the fourth quarter improved by SEK 168 thousand to SEK -4,020 thousand (-4 188)
  • Loss before taxes improved by SEK 187 thousand to SEK -3,953 thousand in the fourth quarter (-4 140)
  • During the fourth quarter, the Company took significant non-recurring costs amounting to approximately SEK 1,200 thousand. We do not expect these items to be repeated in 2013
  • Loss per share for the fourth quarter was SEK -0.03 (-0.09), and SEK -0.03 (-0.09) after full dilution
  • The cash flow from operating activities for the fourth quarter improved by SEK 1,248 thousand to SEK -2,889 thousand (-4,137).


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Comments from Biolight’s President Pär Olausson Lidö

The Company has carried out extensive structural changes that are beginning to bear positive results. We are in the middle of a trend characterised by a substantial sales increase and enhanced performance compared to preceding periods.

Our international campaign began in November when we, together with Niva Medical, participated in Europe’s most important medical technology fair, Medica in Düsseldorf. We embarked on a new strategy in 2012 and implementation of this strategy will continue during 2013.

The implementation of the Company’s general strategy has continued according to plan. Our status for a few of the more important points is as follows:

– The whole organisation has moved to a new office in Stockholm, and the Gothenburg branch has been closed.

– A new marketing manager joined the Company on September 1

– A new financial manager joined the Company on December 1

– Recruitment of new sales personnel and retailers was initiated in the second half of 2012 and will continue in 2013

- Sales of our new product on the animal market has got off to a very good start

- Our new product is as good as ready for CE certification as a medical technology product for humans

– Collaboration negotiations with new distributors are on-going.



Biolight AB is a medical technology company that has developed and commercialised the idea of biological effects of pulsating light. Biolight reduces the healing time for wounds, inflammations and pain and contributes to increased circulation in the body.

Biolight offers a patented system consisting of treatment equipment and unique light therapy programs. The treatment is non-pharmaceutical and is applied externally. Biolight generates its revenue by leasing and selling treatment equipment and treatment programs.

On top of our pure sales efforts, Biolight is focusing on further developing its technology and application areas, as well as clinical trials to verify our method and its effects.

The company was recently ISO13485-certified. ISO13485 is a standard for quality management systems in medical equipment.

The Biolight share is listed on the Nordic MTF (Nordic Growth Market AB).


Market and sales

Globally, the wound-care market is large, but it is also conservative and working it takes time. Our efforts in this market have gradually changed which has led to several large players in the geriatric care market evaluating, buying or renting Biolight equipment. Our establishment efforts in the wound-care market will continue, but our sales efforts on human applications will focus on business areas and markets with relatively low entry barriers, short chains of command and clear incentives for using the product. Here are some examples:

  • Selling to companies that need Biolight, due to staff with sedentary or strenuous jobs
  • Selling to medical chiropodists who find and treat early diabetes wounds
  • Selling to elite sporting clubs, where wounds and rehabilitation times lead to high costs


The animal market has shown strong development and despite a traditionally weak month in December, our revenue figures for the fourth quarter are comparable to the third quarter. Compared to the same period last year, the Company’s revenue has almost doubled. Worth noting is the fact that demand for our product in the animal market has increased significantly, and more and more customers contact Biolight with the intent of purchasing equipment. We have also recruited new ambassadors and satisfied users, such as Stig H Johansson, Björn Goop, and Patrik Kittel. Our sales will continue to grow through:

  • more retailers
  • more customer meetings at race-horse tracks, riding clubs and equestrian competitions in Sweden
  • collaboration with veterinarian clinics


Net sales and results

Net sales in the fourth quarter improved by 72% compared to the same period last year. Compared to earlier quarters during 2012, the fourth quarter’s net revenue was more or less the same as the third quarter’s, but significantly better than in the first and second quarters.

Our operating results improved by SEK 168 thousand compared to the same quarter last year. However, the Company took significant non-recurring costs amounting to approximately SEK 1,200 thousand during the fourth quarter. We do not expect these items to be repeated in 2013. These costs were mainly due to wind-up costs for our previous product model, development of a new Web site and other marketing costs, reorganisation costs for our Company, in particular our Finance department, relocation of our office and office rent, as well as accounts receivable write-downs. These costs also largely explain the SEK 2,464 thousand increase in our fourth-quarter operating costs, compared to the third quarter. The costs for the coming quarter are expected to be lower than in the fourth quarter but higher than the third quarter of 2012, due to a partially new organization and increased sales in 2013.

Our net sales for the year increased by 26% and our net operating income improved by SEK 2,893 thousand compared to the same period last year. The reasons behind this are a much more cost-effective organisation combined with marketing campaigns with attractive prices, enhanced market communication and increasing support to our sales agents. Our new sales strategy was implemented in June, and immediately started bearing results in July.


Financial position and liquidity

The group’s equity amounted to SEK 13,503 thousand (5,581). Our equity ratio is 75.6 % (62.4 %).

The Company has a short-term overdraft facility amounting to SEK 143 thousand.


Cash flow

The cash flow from operating activities was SEK -2,889 thousand (-4,137) in the fourth quarter. The SEK 1,248 thousand improvement can be mainly attributed to less capital being tied up in working capital, in particular reduced inventory and customers’ advance cash payments for 2013.


Acquisitions and disposals

We have not made any acquisitions or disposals during the reporting period.



Investments in equipment, furniture and fittings were SEK 0 thousand (0) in the fourth quarter. Sales of fixed assets amounted to SEK 0 thousand (0).



Our average number of employees during the fourth quarter was 5, compared to 9 during the same period last year.


Exposure and risk factors

Through its operations, Biolight is exposed to both operational and financial risks. Identifying potential risks and evaluating how to manage them is a continuous process within the company. As the Company is currently in an early commercial phase, the sales development is hard to forecast, and this presents a substantial risk.

The chapter “Riskfaktorer och särskilda överväganden” (Risk Factors and Special Considerations) in our 2011 Annual Report contains a complete description of the risks the Company has identified and how we have chosen to manage them.


Parent company

The Group includes the Parent Company and the wholly-owned subsidiaries Biolight Patent Holding AB and Biodynam AB. We do not carry out any activity in our subsidiaries, so for all intents and purposes, the group’s accounts correspond to the parent company’s accounts. Consequently, information about the parent company is the same as for the group.


Proposed dividend

The Board of Directors proposes that no dividend be paid for the financial year 2012.


Significant events after the reporting date

The Board decided on 15 February to extend the maturity of existing warrants linked to last year's issue. The term is extended from 31 March 2013 to 31 March 2014.


Future reports

Interim report for January – March, 2013                                                  April 23, 2013

Annual report                                                                                         April 2013

Interim report for January – June, 2013                                                    August 27, 2013


Biolight’s financial reports are published on the Company’s web site,


For further information, please contact:

Pär Olausson Lidö, President, phone: +46 702 15 01 11

About Us

LightAir AB (publ)’s mission is to improve people's health and well-being by developing and selling effective air purifiers for all types of environments. The products are based on two unique and patented technologies. The company's share is listed on Nordic MTF (Nordic Growth Market AB) under the ticker LAIR MTF. Read more at