Elekta: Interim Report May – October 2012/13
STOCKHOLM, Sweden -- December 04, 2012
*Order bookings increased 17* percent to SEK 5,224 M (4,402).
*Net sales increased 22* percent to SEK 4,180 M (3,364).
*Operating result amounted to SEK 480 M (344) before non-recurring items of
SEK -17 M (133).
*Net income amounted to SEK 273 M (295). Earnings per share amounted to SEK
0.70 (0.78) before dilution and SEK 0.70 (0.77) after dilution. In
September a 4:1 share split was conducted. All data per share is changed
*Cash flow after investments was SEK 223 M (182).
*The outlook remains unchanged. For the 2012/13 fiscal year, net sales is
expected to grow by more than 15 percent in local currency. Operating
profit in SEK is expected to grow by more than 15 percent. Currency is
estimated to have a neutral impact including hedging effects on operating
*Compared to last fiscal year based on unchanged exchange rates.
President and CEO comments
I am pleased with Elekta’s performance in the second quarter, which has shown
continued good demand, strong deliveries and improved cash flow. Order
bookings continued to grow and increased by 12* percent for the first six
months. A structural expansion of cancer care is continuing in many emerging
markets and by establishing operations at an early stage in these areas,
Elekta has a market-leading position. Demand is also generally favorable in
established markets where Elekta continues to provide means for high quality
and cost-efficient cancer care for an increasing number of patients.
The success of Elekta’s new Agility beam-shaping solution continues and demand
for the solution is strong. More than 100 systems have been deliveredand it
is gratifying that a growing number of patients now have access to treatment
with Agility. The unique combination of exceptional resolution, speed and low
radiation leakage allows our users to adapt each treatment without
Deliveries were strong during the second quarter and for the first six months
net sales increased by 22** percent. Operating result increased to SEK 480 M
(344) before non-recurring items. The decline in reported net income is mainly
an effect of last year’s positive non-recurring items.
Our activities aimed at strengthening cash flow are yielding results. Cash
flow after investments amounted to SEK 398 M (42) for the quarter. Working
capital declined by 18 percent compared with the end of the preceding fiscal
year. The cash conversion rate amounted to 51 percent for the first six
months. Our aim of achieving a cash conversion rate in excess of 70 percent
The need for cancer care is growing throughout the world and Elekta is
positioned better than ever to help more patients live a better life thanks to
high-quality and cost-efficient cancer care. Elekta’s growth strategy is
continuing and the use of radiation therapy has the potential to increase
substantially in most markets in coming years. Our ongoing project aimed at
facilitating treatment combined with advanced imaging through magnetic
resonance (MR) is proceeding according to plan.
We foresee significant potential for continued growth andbelieve that market
demand will remain favorable.However, in some markets a weak economic
development and high levels of public debt might mean less availability of
financing and reduced future health care spending by the governments.
The outlook remains unchanged. We anticipate that net sales for full-year
2012/13 will increase by more than 15 percent in local currency. Operating
profit in SEK is expected to increase by more than 15 percent. Exchange rate
effects, including hedging effects, are estimated to have a neutral impact on
President and CEO
*Compared to last fiscal year based on unchanged exchange rates and for
**Compared to last fiscal year based on unchanged exchange rates.
Elekta will host a telephone conference 10:00 CET on December 4, with
President and CEO Tomas Puusepp and CFO Håkan Bergström.
To take part in the conference call, please dial in about 5-10 minutes in
advance and use the access code 925300. Swedish dial-in number: +46 (0)8 5052
0110, UK dial-in number: +44 (0)20 7162 0077, US dial-in number: + 1877 491
The telephone conference will also be broadcasted over the internet (listen
only). Please use the link:
The above information is such that Elekta AB (publ) shall make public in
accordance with the Securities Market Act and/or the Financial Instruments
Trading Act. The information was published at 07:30 CET on December 4, 2012.
This information was brought to you by Cision http://www.cisionwire.com
Elekta AB (publ)
Håkan Bergström, +46 8 587 25 547
Director Investor Relations
Johan Andersson Melbi, +46 8 587 25 415
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