Cryo-Save Group N.V.

Revenue up 4% to EUR41.9 million - Seite 2

acquisitions in line with its strategy to grow in current markets as well as
in new geographies
* Promising developments continue in the use of stem cell technology in the
treatment of diseases. Thus enhancing the added value of Cryo-Save´s high-
tech storage solutions of stem cells
* Fast growing fields of cellular therapy and regenerative medicine offer
further attractive market potential for Cryo-Save
* The Group is confident it will continue to maintain its market leading
position as the leading international stem cell storage brand and the
largest family stem cell bank in Europe

Revenue increased with EUR1.4 million to EUR41.9 million, largely due to increased
sales volumes in several countries, acquisitions and increased number of new
cord tissue samples, partly offset by lower business volume in mainly Southern
Europe. The impact of the economic crisis also resulted in a significantly lower
number of births in almost all countries. An increasing demand for discounts on
the service fee and instalment plans to facilitate the payment of the service
fee has been another factor affecting revenue growth.

The gross profit margin decreased with 1% to 66.6%, among others due to an
increased demand for higher reimbursements of the collection of the umbilical
cord blood and cord tissue in the hospitals.
The gross profit margin remained at the same level compared to the second half
of 2010 (66.5%).

Operational expenses increased with EUR1.6 million due to incremental expenses
related to Cryo-Lip(®) (EUR0.8 million), and the impact of the acquisitions of
Tissue Bank Cryo Center Bulgaria AD ("TBCCB") and Life R.F. doo, Serbia ("Life")
(EUR0.7 million).

The acquisitions also impacted the amortization of intangible assets which
increased by EUR0.3 million. Finally, depreciation increased by EUR0.1 million as a
result of the impact of investments in property, plant and equipment such as the
dual storage location and the new processing and storage facility in Cape Town,
South Africa. Operating profit was therefore EUR2.9 million (2010: EUR4.5 million).
Due to improved financial result and the reduced effective tax rate, net profit
for the year was EUR2.3 million compared to EUR2.6 million in 2010.

Arnoud van Tulder, Chief Executive officer, commented:

"We are pleased to report revenue growth notwithstanding the challenging
economic times. Our strong product portfolio and geographical spread once more
confirms our ability to absorb such business challenges.

"Because of our leading role in the stem cell storage industry, Cryo-Save has
developed multiple educational programs aimed at increasing global awareness
about current treatments and future promising applications. Everyone should be
aware of the important progress being made by applying stem cells in different
medical areas and the resulting benefits of storing stem cells."

Click here for full press release in PDF:
http://hugin.info/143308/R/1595276/502316.pdf

Click here for Presentation FY Results 2011:
http://hugin.info/143308/R/1595276/502338.pdf

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Source: Cryo-Save Group N.V. via Thomson Reuters ONE
[HUG#1595276]

Wertpapiere des Artikels:
NL0009272137