April–June
• Net sales rose by about 39% to SEK 3,526k (2,530k).
• Loss after financial items was SEK 5,287k (loss: 4,803k).
• Comprehensive income was a loss of SEK 5,348 (loss: 4,803k).
• Comprehensive income per share basic and diluted totaled SEK -0.22 (-0.22).
• Cash flow from operating activities during the period was SEK -4,624k (-5,767k).
• Cash and cash equivalents including short-term investments amounted to SEK 9,240k (16,829k) at the end of the period.
• Genovis launched a follow-up FabRICATOR® that is marketed under the name FabRICATOR®Z for customers primarily in the pharmaceutical industry for preclinical research.
• Genovis presented data from the mAbCHECK project. The system is based on Genovis’ enzymes combined with Capsenze’s unique technology and Bruker’s cutting-edge expertise in mass spectrometry.
January - June
• Net sales rose by about 42% to SEK 6,412k (4,514k).
• Loss after financial items was SEK 10,292k (loss: 8,642k).
• Comprehensive income was a loss of SEK 10,355k (loss: 8,642k).
• Comprehensive income per share basic and diluted totaled SEK -0.45 (-0.41).
• Cash flow from operating activities during the six-month period was SEK -9,478k (-11,980k).
Comments from CEO Fredrik Olsson
We are extremely pleased to be able to present the best quarterly sales figures in the history of the Company. Sales surged 39 percent compared with the same period last year and 22 percent against the previous quarter. In the first half of 2015 sales climbed 42 percent compared with last year, which means that after the first six months we reached nearly 80 percent of total sales for 2014. Sales increased significantly in both the US market (42 percent) and the European market (37 percent) compared with last year. Gross profit for the second quarter improved significantly compared with the corresponding period last year. However, legal expenses attributable to the judicial process in the US still had a negative impact, which we expect will diminish over time.
As a result of our successful strategy to transition to direct sales, customers have quickly accepted new products and placed orders. Our customer base is steadily growing, which allows more interaction with our customers. Contact with the end customer is crucial in order to rapidly identify market trends and needs. Direct sales strengthen our future product development and sales, which is an important tool to be able to compete in the US and European markets. Now that we face clear competition in the US, prompt delivery and good customer service are crucial. Sales growth in the first six months strengthens our conviction that Genovis is on the on the right track. In particular, it shows that we can hold our own in a globally competitive market. With our subsidiary Genovis Inc. and warehouse in the US, we can now provide next-day delivery throughout North America.
We can conclude that the new products GingisKHAN and FabRICATOR® Z, which were launched in mid-March and May, respectively, are already responsible for more than 10 percent of total sales since they were introduced. This shows that Genovis can develop new products that customers need. It is extremely gratifying that during the first six months we have shown that we can compete with the largest companies in both the US and Europe. We will continue to introduce new products in the autumn to further strengthen the product portfolio and expect continued positive sales growth. For more information, please contact: Fredrik Olsson, CEO, Genovis AB Tel: 0046 (0)46 -101233
fredrik.olsson@genovis.com
ABOUT GENOVIS
Genovis’ business concept is to develop, produce and market innovative technologies that facilitate and enable development of new treatment methods and diagnostics for customers in the medical device and pharmaceutical industries. The Group consists of Genovis AB and the subsidiary GeccoDots AB. Genovis develops and sells unique enzymes in innovative product formats that facilitate development and quality control of and biological drugs. GeccoDots uses nanotechnology to produce a new type of contrast agent that is used in medical imaging. Genovis shares are listed on NASDAQ Stockholm First North, and Consensus is Certified Adviser for the Company, t: 46 (0)31-745 50 00
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