LinkMed reports increased sales revenues for 2009 fourth quarter

Feb 23 2010

GROUP FINANCIAL PERFORMANCE JANUARY – DECEMBER*)

• Net sales were SEK 83.2 million
• Operating income (EBIT) was SEK 18.7 million
• Net income after tax amounted to SEK 10.2 million
• Results of investing activities were SEK 0.0 million
• Earnings per share, basic and diluted, was SEK 0.69
• Equity per share was SEK 34.71
• Equity/assets ratio was 68 percent

PARENT COMPANY FINANCIAL PERFORMANCE JANUARY – DECEMBER

• Results of investing activities were (Group contributions) SEK 29.8 million (0.0)
• Other income was SEK 4.7 million (3.6)
• Net income after tax was SEK 7.7 million (-13.9)

KEY EVENTS IN THE FOURTH QUARTER

• Likvor receives first orders for CELDA™ from Norrland University Hospital and Uppsala Univer-sity Hospital
• LinkMed acquires an additional 55.2 percent of AbSorber, resulting in that AbSorber becomes a new LinkMed subsidiary
• LinkMed implements a guaranteed rights issue of convertibles worth SEK 84.9 million before issue costs
• AbSorber is granted patent in Europe for the XM-ONE® transplantation test
• Biovator enters into agreement with BASF

COMMENTS ON 2009 FROM LINKMED CEO INGEMAR LAGERLÖF:

“Operating income in 2009 was SEK 18.7 million despite non-recurring costs of SEK 3.9 million in the second half of the year related to the transition to an in-house sales organi-zation in the transplantation sector. Through the acquisition of additional shares in Ab-Sorber, LinkMed now has an ownership stake of 98 percent in the company and is thereby ultimately ready for a combination with Olerup SPP to create a larger and more attractive transplantation-sector company. The company strengthened its financial position during the year through a rights issue consisting of shares and convertibles. In addition, renegotiations and other measures reduced company commitments by a total of SEK 50 million in 2009 and 2010, which also had a positive effect on finances. LinkMed is therefore entering 2010 with a strong financial position and robust cash flow from the company’s transplantation sector operations. I am looking forward to an eventful and exciting 2010, where several of our portfolio companies can continue to take great strides forward, and where the value in our companies gains even better visibility.”