EN – Trading update Q1 2011
Revenue up 8% to €10.4 million and operating profit up 53% to €1.3 million
Cryo-Save Group N.V. (Euronext: CRYO, ‘Cryo-Save’, or ‘the Group’), the leading international family stem cell bank, announces its trading update for the quarter ended 31 March 2011.
Highlights for the first quarter 2011 were:
- Revenue up 8% to €10.4 million (Q1 2010: €9.6 million)
- EBITA* up 38% to €1.6 million (Q1 2010: €1.2 million)
- Operating profit up 53% to €1.3 million (Q1 2010: €0.8 million)
- Net profit up 61% to €0.9 million (Q1 2010: €0.6 million)
- 9,600 new samples stored in first quarter 2011, up 10% (Q1 2010: 8,800): Of these 6,200 were new cord blood samples and 3,400 new cord tissue samples
- 175,000 samples now stored in total
- Levels of new customers opting for the combined service of cord blood and cord tissue storage sustained at over 60%
- Acquisition of Serbian distributor Life R.F. doo for €2.3 million in cash and 30,000 Cryo-Save shares, with an option to acquire the remaining 30% of the shares of Life R.F. in the next 3 years. The acquisition was earnings enhancing with immediate effect.
- A girl from Cadiz in Spain, known as Alba, has recovered from medulloblastoma, a highly malignant brain tumor, after receiving her own stem cells as part of her treatment. These stem cells were obtained from her umbilical cord at birth and were stored by Cryo-Save in Belgium. After surgery and chemotherapy the stem cell transplantation fully rebuilt her immune system. Alba no longer requires any medication and can live a normal life.
- The Group completed another tranche of its share buyback programme and has repurchased 100,000 shares during the period 6 January 2011 until 12 January 2011. The shares were repurchased at an average price of € 5.20.
- The Board proposed a dividend of €0.07 per share for the year ended 31 December 2010 (2009: €0.06), a 17% increase on last year. This is the third consecutive year that Cryo-Save has proposed a dividend increase, demonstrating the Board‘s strong belief in the Group’s prospects.
*EBITA is defined as Earnings Before Interest, Taxation and Amortisation of identified intangible assets.
Highlights after 31 March 2011 were:
- Cryo-Save has offered to store the autologous adult stem cells of Japanese nuclear workers at the Fukushima nuclear power plant. Following recent scientific studies, which have shown that stem cells are able to repair the damage caused by high radiation exposure, Japan is looking to store the stem cells of nuclear rescue workers, but fears that it may run out of storage capacity and has asked for help. Cryo-Save is also examining whether pre-emptive and potentially life-saving stem cell storage measures could be made available to all nuclear power workers around the world.
Arnoud van Tulder, Chief Executive officer, commented:
These strong results are very positive and demonstrate that the uptake of our combined service can be sustained at a good level.
Our ultimate goal has always been to contribute to innovative technologies that can provide new cures, and we are seeing daily proof that stem cell transplantation works. The successful treatment of Alba and the potential of stem cell treatments for radiation underpin the value of storing your own stem cells, as well as the quality of Cryo-Save’s processing and storage procedures.
+ 31 (0) 575 548 998
Arnoud van Tulder, Chief Executive Officer
SPJ Financiële Communicatie (The Netherlands)
+ 31 (0)20 647 8181
Kees Jongsma/Leon Melens
Daniel Stewart & Company plc (UK)
+ 44 (0) 20 7776 6550
College Hill (UK)
+ 44 (0) 20 7457 2020
Rozi Morris/ Adrian Duffield
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