CellaVision AB Year-end bulletin, Jan-Dec 2018 - Seite 2

Full year 2018
Sales for 2018 amounted to SEK 364.8 million (309.3), corresponding to organic growth of 15 percent. The operating profit was SEK 111.6 million (90.9), equivalent to an operating margin of 30.6 percent (29.4). CellaVision has thus again delivered a year in line with our financial targets. All regions performed well. APAC had the strongest growth during the year, with 28 percent, closely followed by EMEA, which after a few weaker years, grew by 25 percent. The Americas, with the well-penetrated markets in the USA and Canada, grew by 11 percent. 

Market development in the fourth quarter
The Americas again experienced a strong quarter, with sales growing by 49 percent to 57.6 million (38.6). The number of installations for end customers continues to increase and market penetration is developing at a stable rate. Our investment in our own organization for local market support in Brazil, which was established in mid-2017, is now starting to make a positive contribution to sales growth in the Americas. 

EMEA had a stable fourth quarter, with sales growing by 30 percent to 25.1 million (19.3). This is a result of our consistent focus on market expansion in the region. In the past 18 months new organizations for local market support were established in the Middle East, France, Europe's German-speaking countries and the United Kingdom/Ireland. These organizations are now fully operative and we see how the rate of sales is increasing step by step. 

APAC again experienced a strong quarter, with sales growing by 56 percent to 28.3 million (18.2). Marketing activities continued at a high level in the key markets of Japan and China. 

Geographical expansion
Geographical expansion is crucial to CellaVision's growth. In 2018 we established our own organizations for local market support in Mexico, India and in South East Asia, based in Thailand, as well as extending the organization in China so that we now have a local presence in the Chengdu area as well. In early 2019 we will establish more organizations for local market support in Spain/Portugal and Italy. At the end of 2018 CellaVision had 15 local organizations that together offer market support in more than 30 countries.