STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Allenex AB (STO:ALNX):
-- Net sales for the first six months were SEK 44.9 million (41.5), an increase of 8.2%.
-- Net sales for the second quarter were SEK 24.4 million (21.2), an increase of 14.8%.
-- Currency effects had a negative impact of SEK 4.7 million on sales for the first six months and a negative impact on sales of SEK 2.4 million in the second quarter.
-- Sales in local currencies for the first six months were up 8% in Europe and 20% in North America year on year. In the second quarter, sales were up by 5% in Europe and 18% in North America.
-- Operating loss (EBIT) for the first six months was SEK 11.9 million (+3.9), with an operating loss of SEK 8.7 million (-0.7) for the second quarter. Non-recurring costs of about SEK 7 million impacted results for the first six months, of which SEK 4.5 million were charged to the second quarter.
-- Loss after tax for the first six months was SEK 373.6 million (-0.1). The results were impacted with impairment of the value of the associated companies of SEK 358 million, of which SEK118 million was charged to the second quarter. The impairment includes IMED which did not reach its required targets and were fully written down.
-- Loss per share for the first six months basic and diluted was SEK 21.62 (+0.08), with a loss per share of SEK -7.37 (-0.07) for the second quarter.
-- Equity per share was SEK 11.65 (34.19).
-- The equity/assets ratio was 41 percent (68).
Key events during the second quarter
-- Allenex divested its holdings in the associated company OrtoWay AB.
-- In June, shareholders at the Annual General Meeting decided to change the company’s name from LinkMed AB (publ) to Allenex AB (publ).
-- In May, Allenex acquired NorDiag ASA’s holdings in Olerup International AB, now controlling 75 percent of both Olerup International AB and Olerup GmbH.
-- In May, Anders Karlsson was appointed as new CEO of the company.
-- Olerup SSP entered into an exclusive five-year agreement covering the global marketing and distribution rights for SBT technology for HLA typing and sequence analysis software.
Key events after the period end
-- In July, Olle Olerup left his position as CEO of the Allenex subsidiary Olerup SSP AB.
-- On August 9 the board of directors called an extraordinary general meeting of shareholders, which will be held in Stockholm on September 7.
-- In August, it was finalized that Allenex will divest its ownership stake in NovaHep AB and
Recopharma AB to Alden Impact Capital AG.
CEO Anders karlsson’s comments on the second quarter 2011:
“The increase in sales is very encouraging and in line with expectations. We continue to win market share above all in North America and with new products in our portfolio I am hopeful for continued revenue growth in the next quarters. The change of company name to Allenex clearly marks that we are now a transplantation sector company focused on facilitating successful transplants for more patient. This year is a period where we fully change the strategy of our business. This means that the year is burdened with costs associated with the strategy change. In the current market conditions, difficulties in finding new owners for our associated companies, as well as negative developments for some of them, mean that we have again written down the value of these holdings.”
Allenex AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 13:00 (CET) on August 25, 2011.
Allenex’s business focus is mainly on the transplantation business with subsidiary product companies AbSorber and Olerup SSP and the sales and distribution companies Olerup Inc. and Olerup GmbH. Allenex has also a portfolio of associated life science companies. Allenex is listed on NASDAQ OMX Stockholm Small Cap (ticker: ALNX).
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