CellaVision AB Good profitability despite negative COVID-19-effect

Nachrichtenquelle: globenewswire
16.07.2020, 08:20  |  132   |   |   

The information was submitted for publication at 08.20 CET on July 16, 2020

1 April -30 June 2020

  • Net sales increased by 5% to SEK 118.0 million (112.4).
  • Sales decreased organically by 15% (+18).
  • EBITDA amounted to SEK 36.2 million (41.3).
  • EBITDA margin amounted to 31% (37).
  • Profit before tax amounted to SEK 34.4 million (37.9).
  • Earnings per share before and after dilution were SEK 1.14 (1.27).
  • Cash flow from operating activities amounted to SEK 34.1 million (17.3).

1 January-30 June 2020

  • Net sales increased by 17% to SEK 252.5 million (216.3).
  • Sales decreased organically by 8% (+24).
  • EBITDA amounted to SEK 77.4 million (79,6). 
  • EBITDA margin amounted to 31% (37).
  • Profit before tax amounted to SEK 59.8 million (72.8).
  • Earnings per share before and after dilution were SEK 1.99 (2.42).
  • Cash flow from operating activities amounted to SEK 49.5 million (68.4).

Significant events related to COVID-19

  • The company expects the COVID-19 pandemic to have a significant negative impact on CellaVision's sales and earnings for a number of months to come.
  • The Annual General Meeting resolved that no dividend for the 2019 financial year be paid.
  • Several measures on the cost side were implemented resulting in good profitability despite negative organic growth in the quarter.

“The development of the ongoing pandemic is difficult to predict. The negative effects of the pandemic in Americas is currently our biggest challenge. We initiated measures on the cost side early on to secure CellaVision's opportunities to accelerate as soon as the world situation normalizes.” Zlatko Rihter, CEO

CEO comment´s

Sales in the second quarter of 2020 amounted to SEK 118.0 million (112.4), corresponding to negative organic growth of 15 percent (+18). Including sales of RAL Diagnostics (RAL) products, growth amounted to five percent. Sales varied considerably between our different regions. EMEA grew by seven percent excluding sales of RAL’s products, including RAL, which has about 90 per cent of its sales in EMEA, growth amounted to 89 percent. Americas had a weak development in the wake of the COVID-19 pandemic with negative growth of 57 percent. APAC's development was the reverse with growth of 106 percent. Currency effects were negative by three percent in the quarter.

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CellaVision AB Good profitability despite negative COVID-19-effect The information was submitted for publication at 08.20 CET on July 16, 2020 1 April -30 June 2020 Net sales increased by 5% to SEK 118.0 million (112.4).Sales decreased organically by 15% (+18).EBITDA amounted to SEK 36.2 million (41.3).EBITDA …

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