UPPSALA, Sweden, Feb. 8, 2002 (PRIMEZONE) -- Q-Med:
-- The Swedish company Q-Med AB has continued its strong growth
during 2001. Turnover increased by 60 per cent during the year to
SEK 380.2 (237.2) million. During the fourth quarter turnover
increased by 50 percent and amounted to SEK 122.7 (81.9) million.
-- Operating income excluding Ixion amounted to SEK 55.3 (42.3)
million for 2001, with an operating margin of 14.5 (17.8) percent.
During the fourth quarter the corresponding operating income was
SEK 19.7 (18.6) million and the operating margin 16.1 (22.7)
percent.
Key ratios 2001
Amounts in SEK millions 2001 2000 % 2001 2000 %
Jan - Dec Oct - Dec
Turnover 380,2 237,2 +60 122,7 81,9 +50
Gross margin 343,2 212,1 +62 114,1 73,6 +55
Gross margin,
% of turnover 90,3 89,4 93,0 89,9
Operating income 23,7 33,7 -30 11,0 14,6 -25
Operating income,
% of turnover 6,2 14,2 8,9 17,8
Operating income 55,3 42,3 +30 19,7 18,6 +6
excluding Ixion
Operating income excluding
Ixion, % of turnover 14,5 17,8 16,1 22,7
Income after financial
items 35,4 44,0 -20 13,9 17,6 -21
Net income for the year 35,3 35,1 +1 12,8 13,1 -2
Number of employees at
year-end 266 197 +35
Profit per share, SEK 1:43 1:46 -2
Share price at year-end,
SEK 173 192 -10
Market value 4.277 4.713 -9
Bengt Agerup, President and CEO, comments as follows: "2001 was yet another year of strong growth for Q-Med. Q-Med started its present business operations in 1995 as a close company. Since then, the company has developed at a furious pace. During the years 1996 - 2000 the turnover almost doubled each year. In the same way there was more or less a doubling of the net income year after year. Turnover during 2001 reached an impressive SEK 380 million even though we couldn't quite maintain the doubling rate. The increase compared with the previous year amounted to 60 percent. During the year we have invested very heavily in research and development. 2001 has been characterized by laying a platform for continued expansion. We could also express it as the year being used to sow for a harvest which will start to come during 2002. About 70 new employees have been recruited during the year and Q-Med has at present just over 260 employees in 8 countries and sales occur in 60 markets. Q- Med has a very strong position and is ready for further expansion."
Enclosure: Report on Operations 2001.
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The following files are available for download: www.waymaker.net/bitonline/2002/02/08/20020208BIT00510/bit0002.doc The full year-end report www.waymaker.net/bitonline/2002/02/08/20020208BIT00510/bit0002.pdf The full year-end report