Cryo-Save Group N.V.: Q1 2014 Trading Update | Underlying operating result +75% compared to Q1 2013
May 6, 2014 - London
Frédéric Amar, Chief Executive officer, commented:
"During the first quarter of 2014, the full impact of the cost saving program, which has been initiated in 2013, materialized, which positively impacted the numbers. Although the volume stayed behind our expectations, with the new configuration, the Group will show much better results.
"The acquisition of the commercial operations of Salveo, increases our presence and market share, mainly in Italy. The positive impact on the business as a whole gives a boost to better profitability of the Group, regain market share and market position".
- Revenue of €6.6 million (Q1 2013: €7.8 million)
- Gross profit of €4.5 million (Q1 2013: €4.9 million)
- Operating expenses before depreciation and amortisation of €4.2 million (Q1 2013: €4.8 million)
- Underlying*** operating expenses before depreciation and amortisation of €3.9 million (Q1 2013: €4.8 million)
- Significant decrease due to the impact of the sale of Cryo-Save India, less consultancy fees and the impact on the cost saving program which fully materialized in Q1 2014.
- EBITDA*: €0.3 million (Q1 2013: €0.2 million)
- Underlying*** EBITDA*: €0.5 million (Q1 2013: €0.2 million)
- EBITA**: -€0.1 million (Q1 2013: -€0.2 million)
- Underlying*** EBITA**: €0.2 million (Q1 2013: -€0.2 million)
- Operating result: -€0.4 million (Q1 2013: -€0.5 million)
- Underlying*** operating result: -€0.1 million (Q1 2013: -€0.5 million)
- Net result: -€0.3 million (Q1 2013: -€0.7 million)
- Underlying*** net result: nil (Q1 2013: -€0.7 million)
* EBITDA is defined as Earnings Before Interest, Taxation, Depreciation, and Amortisation
** EBITA is defined as Earnings Before Interest, Taxation and Amortisation of identified intangible assets
*** Underlying results exclude non-recurring restructuring expenses and impairment losses
- 6,000 new samples stored in the first quarter of 2014 (Q1 2013: 7,700)
Of these, 3,600 were new cord blood samples and 2,400 new cord tissue samples
- Over 260,000 samples have been stored in total at 31 March 2014
- 68% of new customers opt for combined service of cord blood and cord tissue storage
|Enquiries: Cryo-Save Group||+ 31 (0) 575 548 998|
|Frédéric Amar, Chief Executive Officer|
About Cryo-Save (www.cryo-save.com/group)
Cryo-Save, the leading international family stem cell bank, stores more than 250,000 samples from umbilical cord blood and cord tissue. There are already many diseases treatable by the use of stem cells, and the number of treatments will only increase. Cryo-Save has cryopreserved samples from over 70 countries on six continents, with ultra-modern processing and storage facilities in Belgium, Germany, Dubai and South Africa.
 Q1 2013 figures were restated due to the application of IFRS 11 'Joint Arrangements', where the interest in the African joint venture has not been proportionally consolidated as from 1 January 2014 and therefore the comparative figures have been restated.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Cryo-Save Group N.V. via Globenewswire