Boule Diagnostics AB (publ) interim report January-March 2017

Instrument sales remain strong  

Quarter January-March 2017

  •  Net sales amounted to SEK 106.6 million (84.4), up 26.3 percent. Adjusted for the change in the USD and EUR exchange rates, this represents an increase of 22.4 percent.
  •  Number of instruments sold in the quarter was 1,143 (695), an increase of 65 percent.
  •  Cash flow from operating activities amounted to SEK 18.5 million (6.1).
  •  Operating profit was SEK 12.0 million (8.4) which corresponds to an operating margin of 11.2 percent (9.9).
  •  Net profit amounted to SEK 8.7 million (6.3).
  •  Earnings per share before dilution amounted to SEK 1.84 (1.33), and after dilution to SEK 1.79 (1.33).

Significant events during the quarter

Tender won in India

Boule has won yet another public tender in India for 100 hematology systems in total. The systems were delivered during the quarter. The systems have been installed at blood banks in the state of Uttar Pradesh.

New CEO and Group President

Ernst Westman resigned as CEO and Group President on 31 March after 23 years of service. The board appointed Fredrik Dalborg new CEO and Group President with effect from 3 April 2017. He joins the group from Terumo BCT.

New financial targets and dividend policy

The Boule board resolved to revise the company’s financial targets and to modify the dividend policy. For further information on this, please see page 14 in the interim report.

Comments from CEO Fredrik Dalborg

”I joined Boule Diagnostics as CEO and Group President on 3 April. My initial focus has been on quickly gaining an understanding of customer needs, market development and organization via numerous, detailed discussions with customers, distributors and employees in different parts of the world.

We have a highly skilled team of employees and good relationships with customers and distributors. Our products have a very good reputation with regard to quality, precision and low service requirements and it is pleasing to note that we have strong positions on both mature markets such as the USA and on growth markets such as Russia and India.

We now have to work to strengthen the company and develop it to the next level. Our priorities moving forward will be:

  1. Further measures to support and strengthen our sales and profitability growth.
  2. To continue to improve current products and develop new ones.
  3. To strengthen our product portfolio via distribution agreements, OEM products and potential acquisitions.

In parallel with the above, we are continuing our process efficiency programs, reviewing how our manufacturing structure can be optimized while ensuring our high quality and regulatory standards.”

The interim report for January-March 2017 in its entirety is found below.

For more information, please contact:
Fredrik Dalborg, CEO and President, Boule Diagnostics AB, phone +46-8-744 77 00

About Boule Diagnostics AB (publ)
Boule Diagnostics AB is a fast-growing diagnostics company, developing and manufacturing systems and consumables for hematology diagnostics for the public healthcare providers worldwide. The company is primarily focused on small and medium-sized hospitals, clinics and laboratories in outpatient care as well as other diagnostics companies in both human and veterinary hematology. The group is comprised of operating subsidiaries in Sweden, the US and China. The Boule Diagnostics share is traded on NASDAQ Nordic since 2011.

The information was submitted for publication, through the agency of the contact person set out above, at 13:00 CET on May 11, 2017.


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