Year-end report

Year-end report Perbio Science AB 2001 A successful year · Net sales up 35% to SEK 1 899 (1 409) million · Continued strong earnings growth at all divisions - Operating profit before amortisation of goodwill up 78% to SEK 348 (196) million - Profit after financial items but before amortisation of goodwill up 99% to SEK 339 (170) million - Profit after financial items up 112% to SEK 318 (150) million - Net profit up 114% to SEK 193 (90) million · Bioresearch division: - New test for mad cow disease (BSE) developed together with Prionics AG - Sales of amidites (reagents for DNA synthesis) taken over from Amersham Biosciences · Cell Culture division: - Investment in new plant to double cell culture media production capacity - Joint venture company HyNetics set up with Kinetics Group to market new production method for media and sterile liquids · Medical Device division: - HME (heat & moisture exchanger) product group gains reimbursement status in the USA · 2001: Summary Perbio Science continued during 2001 to cement its position as one of the world's leading suppliers of products for the research, development and production of protein-based pharmaceuticals. Following on from the human genome (HUGO) project, customers have been focusing their research efforts on the human proteome, leading to a growing need for Perbio's products and technologies for protein research and protein production. The breadth of our product range has strengthened our position as a leading supplier to the biotechnology industry. The foundations for Perbio Science's strong growth have been laid over a number of years. Long-term strategies and programmes in a variety of areas have helped to create the strong platform on which we can now build. Some of the most important factors contributing to our current position are as follows: · The serum strategy adopted in 1997 means that we have secured access to high-quality serum raw materials, which has paid off in the form of both a larger market share and higher prices. · The acquisition of the patents for the sterile single-use handling systems BioProcess Containers in 1998 paved the way for technological advances that have made us a leader in this product area. · The expansion of our sales organisation with new sales offices has brought us into direct contact with the market and increased both sales and profitability. Product development work is now taking place closer to the customer and we are getting new products onto the market more quickly. · The restructuring of the Boston operation in 2000 has boosted earnings. Production was transferred to Rockford, making it more cost- effective, while Boston has concentrated its activities on research into, among other things, multiplex protein analyses used in drug development. · Our long-term focus on tools for protein research has made us an important supplier in this area. The success of the HUGO project and the subsequent focus on proteins have meant that the needs of researchers worldwide now coincide with our core business. · The HME (heat & moisture exchanger) product group has gained reimbursement status in the USA. The market outlook remains bright in all segments. Perbio Science is continuing to expand its sales organisation, a record number of important products have been launched and several more strategically important alliances have been entered into with major pharmaceutical companies. All three divisions at Perbio Science reported significant increases in sales and earnings in 2001, with organic sales growth climbing from 22% to 34%. Net sales increased by 35% to SEK 1 899 (1 409) million, profit after financial items but before amortisation of goodwill by 99% to SEK 339 (170) million and net profit by 114% to SEK 193 (90) million. The group's tax charge was brought down another percentage point to 39% (40). Perbio Science decided to postpone its planned launch on Nasdaq during the year due to the state of the capital markets. The company still plans to float on Nasdaq but not until the time is right. SEK 4 million in expenses relating to listing on Nasdaq have been charged. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/12/20020212BIT00270/bit0001.doc The full year-end report http://www.waymaker.net/bitonline/2002/02/12/20020212BIT00270/bit0001.pdf The full year-end report