Interim report January – September 2012

Continued strong growth and resolution to distribute Transplantation

Third quarter
Group, including discontinuing operations

• Sales growth was 17 percent in local currency. Sales amounted to SEK 97 (85) million, corresponding to an increase of 14 percent in SEK.
• Sales growth within Fertility was 16 percent in local currency and 13 percent in SEK. Sales growth within Transplantation was 23 percent in local currency and 22 percent in SEK.
• Operating income (EBIT) amounted to SEK 13 (14) million. One-time expenses of SEK 5 million were charged against operating income ahead of the setting up of Xvivo as an independent listed company. Excluding these expenses, operating income amounted to SEK 18 (14) million, corresponding to an operating margin of 18 (17) percent.
• Net income amounted to SEK 8 (10) million, which gave earnings per share of SEK 0.43 (0.49).
• Application for sales approval of STEEN Solution™ in USA submitted to the US Food and Drug Administration, FDA.
• After closing day Vitrolife completed the acquisition of Cryo Management Ltd, one of the world’s leading players within time-lapse for IVF, based in Hungary.
• A resolution was adopted at the Extraordinary General Meeting of shareholders in September to distribute the transplantation business to the shareholders in October, and this business is thus reported as discontinuing operations.
• After the resolution had been adopted to distribute Vitrolife’s transplantation business, Vitrolife’s Board set up new financial objectives for the company after closing day.

January - September

Group, including discontinuing operations

• Sales growth was 16 percent in local currency. Sales amounted to SEK 306 (261) million, corresponding to an increase of 17 percent in SEK.
• Sales growth within Fertility was 16 percent in local currency and 17 percent in SEK. Sales growth within Transplantation was 20 percent in local currency and 23 percent in SEK.
• Operating income (EBIT) amounted to SEK 45 (37) million, corresponding to an increase of 21 percent. The operating margin was 15 (14) percent.
• Income before tax amounted to SEK 44 (41) million. Net income amounted to SEK 31 (29) million, which gave earnings per share of SEK 1.58 (1.45).
• The cash flow from operating activities was SEK 40 (29) million.

November 1, 2012

Gothenburg, Sweden

VITROLIFE AB (publ)

Thomas Axelsson

CEO                  

Queries should be addressed to:

Thomas Axelsson, CEO, tel +46 31 721 80 01

Mikael Engblom, CFO, tel +46 31 721 80 14

Vitrolife is required to publish the information in this press release in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on November 1, 2012 at 8:30 a.m.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

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Vitrolife is a global biotechnology/medical device Group that has business activities within the areas of fertility and transplantation. The Fertility product area works with nutrient solutions (media), cryopreservation products and advanced consumable instruments such as needles and pipettes, for the treatment of human infertility. There is also business to enable the use and handling of stem cells for therapeutic purposes. The Transplantation product area works with solutions and systems to evaluate and maintain organs outside the body in order to select usable organs and keep them in optimal condition while waiting for transplantation.

Vitrolife today has approximately 220 employees and its products are sold in almost 90 markets. The company is headquartered in Gothenburg, Sweden, and there are offices in USA, Australia, France, Italy, United Kingdom, China and Japan. The Vitrolife share is listed on NASDAQ OMX Stockholm, Small Cap.
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Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452.

Tel: 46 31 721 80 00. Fax: 46 31 721 80 90. E-mail: info@vitrolife.com. Website: www.vitrolife.com

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