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Report on operations 2013: High growth and improved profitability

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Fourth quarter

Continuing operations:

  • Sales growth was 27 percent in local currency. Sales amounted to SEK 124 (98) million, corresponding to an increase of 26 percent in SEK.
  • Operating income (EBIT) amounted to SEK 22 (12) million, corresponding to an operating margin of 18 (12) percent. The quarter was affected by the write-down of intangible assets with regard to Labware to the tune of SEK 9 (-) million.
  • The comparative figures for 2012 relate to continuing operations, Fertility, unless otherwise stated.
  • Net income amounted to SEK 15 (0) million, which gave earnings per share of SEK 0.77 (-0.01).
  • Contract manufacturing of STEEN Solution for Xvivo Perfusion AB terminated.
  • Increased collaboration with Biolamina AB within the stem-cell area resulted in Vitrolife investing SEK 4 million in Biolamina in a directed share issue.

Whole year

Continuing operations:

  • Sales growth was 29 percent in local currency. Sales amounted to SEK 453 (362) million, corresponding to an increase of 25 percent in SEK.
  • Operating income (EBIT) amounted to SEK 80 (50) million, corresponding to an operating margin of 18 (14) percent.
  • Net income amounted to SEK 57 (27) million, which gave earnings per share of SEK 2.84 (1.36).
  • Integration of Cryo Management Ltd, which was acquired at the end of 2012, focusing on sales of Primo Vision.
  • Acquisition of all the shares in the Danish company HertArt ApS, which has developed the Labware range.

After the end of the year

  • The Board proposes a dividend of SEK 1.00 (0.60).
  • The Board has, in connection with the close, resolved to increase the operating margin target to 17 percent compared to earlier 15 percent at the same time as the ambition for growth remains at 20 percent.

Gothenburg, February 6, 2014

VITROLIFE AB (publ)

Thomas Axelsson, CEO

Queries should be addressed to:

Thomas Axelsson, CEO, tel 46 31 721 80 01

Mikael Engblom, CFO, tel 46 31 721 80 14

Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on February 6, 2014 at 08:30 a.m.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

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Vitrolife is an international medical device Group. Vitrolife Fertility product area develops, produces and markets medical devices for assisted reproduction. Work is also carried out to enable the use and handling of stem cells for therapeutic purposes

Vitrolife has approximately 240 employees and the company's products are sold in almost 110 markets. The company is headquartered in Gothenburg, Sweden, and there are also offices in USA, Australia, France, Italy, United Kingdom, China, Japan, Hungary and Denmark. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap.

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Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452. Tel: 46 31 721 80 00. Fax: 46 31 721 80 99. E-mail: info@vitrolife.com. Website: www.vitrolife.com/

Tags:

report on operations Vitrolife fertility IVF Mikael Engblom Thomas Axelsson time-lapse Carsten Browall HertArt ApS Labware

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