STOCKHOLM, Sweden, July 26, 2002 (PRIMEZONE) -- Gambro:
-- Group revenues increased 9%, good organic growth in all business areas
-- Operating earnings, EBITDA, up 5% (up 87% incl. nonrecurring 2001)
-- Operating cash flow strong at MSEK 480 (-730)
MSEK Q2 Curr January-June Curr
ency ency
(excl nonrecurring 2002 2001 Cha adju 2002 2001 Chang adju
items) nge sted e sted
Revenues 7,053 6,619 +7% +10% 13,962 12,799 +9% +9%
EBITDA(1) 1,126 1,076 +5% +7% 2,232 2,122 +5% +4%
EBITDA margin 16.0% 16.3% 16.0% 16.6%
EBITDA margin (incl 16.0% 2.2% 16.0% 9.3%
nonrecurring)
Operating cash flow 336 -300 480 -730
Earnings per share, 0.13 0.13 0.39 0.45
SEK
Cash earnings(2) per 2.21 2.12 4.56 4.26
share, SEK
(1) Earnings before depreciation and amortization
(2) Net income plus depreciation and amortization
Second quarter highlights:
-- Strong revenue growth, +10% currency adjusted, in all significant respects organic. -- Gambro Healthcare revenue per treatment in the U.S. improved by USD 6 to USD 252. -- Continued strong development of operating cash flow due to strong growth within all business areas and improved performance within Gambro Healthcare. -- Cash flow, currency effects and very few acquisitions led to reduced net debt. -- EBITDA margin for the group remained stable from the first quarter this year but somewhat lower than the second quarter last year. -- Margin improvement in Gambro Healthcare. Gambro Renal Products' margin was somewhat reduced from last year's high level. Gambro BCT's margin was significantly lower in line with the strategy to widen its business scope, including expansion of PET spending.
"We see the momentum in our services business; our action program has started to pay off in a market without external positive contribution," said Soren Mellstig, Gambro president and CEO. "The product and business shift in our product business areas affected our margins in the quarter."
For further information please contact:
Lars Granlof, Senior Vice President, CFO, tel. +46-8-613 65 00, +46 70 513 65 48 Janette Jennische, Vice President, Corporate Communications, tel. +46 8 613 65 00, +46 70 212 50 53 Pia Irell, Director, Investor Relations, tel. +46 8 613 65 00, +46 70 513 65 91 Kevin Smith, President, Gambro Inc., Investor Relations U.S., tel. +1 303 231 4750
Gambro's financial information is also available on the Internet: www.gambro.com
The company will host a conference call and web cast to present its second quarter results today at 16:00 Central European time. Teleconference callers should dial +44 (0)20 8781 0577 (if calling from Europe) or +1 303 713 7929 (if calling from the US). Regarding the web cast, please find all related information on Gambro's web site: www.gambro.com/investors/.
Next report:
Nine-month report: October 25, 2002
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
www.waymaker.net/bitonline/2002/07/26/20020726BIT00030/wkr0001.doc The full report www.waymaker.net/bitonline/2002/07/26/20020726BIT00030/wkr0002.pdf The full report