Interim Report January - March 2011

Interim Report January - March 2011

 


  · Net sales for the first quarter were SEK 20.5 million (20.3).
Currency effect had a negative impact on sales of SEK 2 million for the
quarter. Sales in local currencies increased for Olerup GmbH by 12 % and
for Olerup Inc. by 26 % year on year.
  · Operating loss (EBIT) for the period was SEK 3.1million (+4.6).
  · Results were impacted by write downs of fair value in associated
companies of SEK 240 million. The results were also impacted by
non-recurring costs of SEK 2.5 million.
  · Loss after tax for the period was SEK -246.2 million (+2.1).
  · Loss per share for the period, basic and diluted, was SEK 14.26
(+0.15).
  · Equity per share was SEK 19.17 (34.35).

Key events in the first quarter

  · Olerup SSP and AbSorber entered into an exclusive distribution
agreement covering the Brazilian market.
  · Olerup SSP entered into a sales agreement with QIAGEN GmbH for the
QIAxcel Advanced System.
  · Olerup SSP entered into an exclusive sales agreement with the U.S.
company Biotium pertaining to the
GelRed™ product.
  · AbSorber and Olerup SSP moved to new shared premises at Kungsholmen
in Stockholm, Sweden.

Key events after the period end

  · In May, Olerup SSP signed an exclusive five-year global marketing,
sales and distribution agreement with the Australian company Conexio for
Conexio's SBT Resolver™, HLA Sequencing Based Typing product line and
sequence analysis software.
  · LinkMed's Annual General Meeting took place on May 10, 2011, at
which Allenex AB was adopted as the new name of the company.
  · In May, LinkMed acquired NorDiag ASA's shares in Olerup
International AB and now owns 75 percent of the company. As a result,
Olerup International is now a subsidiary of LinkMed.
  · Anders Karlsson was appointed the new CEO of LinkMed and assumed his
new position on May 25, 2011.
  · To date, no divestments of LinkMed's holdings in associated
companies have finalized. However, some of the companies continue to
hold discussions with interested parties.
  · The company has secured its short term liquidity requirements and
intends to implement a rights issue of shares later in the year.

CHAIRMAN MONICA CANEMAN'S COMMENTS ON THE QUARTER:
”We are now entering a new phase focused entirely on our transplantation
sector operations, for which the structure is essentially in place. It
is therefore also time to make changes in the management team. The
acquisition of majority shareholding in Olerup International strengthens
our control of the sales organization, the positive effects of which we
are already seeing in terms of earnings and cash flow. We have also
broadened our product range, and the agreement we entered into with
Conexio will be of major importance in this regard. Furthermore, we are
now beginning efforts to streamline our operations and reduce costs.
First-quarter sales growth figures in the U.S. and Europe are very
encouraging, while unfortunately the strong Swedish krona continues to
have a negative effect on sales and earnings. It is very disappointing
that despite our intensive efforts to find new owners for some of our
associated companies we have not yet managed to achieve closure. As a
result, we have been obliged to make substantial downward adjustments of
both the book value and fair value of a portion of our associated
company holdings. The fact that we have not yet reached closure on these
divestments may also have an impact on liquidity, which we are
addressing with both short and long-term measures.”

LinkMed 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 08:00 (CET) on May 31,
2011.

For more information please contact:
Anders Karlsson, CEO, +46 (0)8-508 939 93 eller email
anders.karlsson@absorber.se
Okee Williams, cell +46 (0) 70-600 5364 or email
okee.williams@linkmed.se