Report on operations 2014: Acquisition of FertiliTech and strengthened income

Fourth quarter

• Acquisition of all the shares in Unisense FertiliTech A/S (“FertiliTech”), the market leader in embryo monitoring, time-lapse, for IVF.
• Non-cash issue of 1,879,179 shares for part-financing of the acquisition of FertiliTech.
• Sales amounted to SEK 137 (124) million, corresponding to an increase of 11 percent in SEK. Sales growth was 4 percent in local currency. Last year’s figure included sales of the transplant product STEEN Solution™ to Xvivo to the tune of SEK 5 million. Adjusted for this, the increase in sales amounted to 8 percent in local currency.
• Operating income (EBIT) amounted to SEK 36 (22) million, corresponding to an operating margin of 26 (18) percent.
• Net income amounted to SEK 28 (15) million, which gave earnings per share of SEK 1.39 (0.77).

Whole year 

• Sales amounted to SEK 511 (453) million, corresponding to an increase of 13 percent in SEK. Sales growth was 8 percent in local currency. Last year’s figure included sales of the transplant product STEEN Solution™ to Xvivo to the tune of SEK 13 million. Adjusted for this, the increase in sales amounted to 11 percent in local currency.
• Operating income (EBIT) amounted to SEK 143 (80) million, corresponding to an operating margin of 28 (18) percent.
• Net income amounted to SEK 109 (57) million, which gave earnings per share of SEK 5.46 (2.84).

After the end of the year

• The Board proposes a dividend of SEK 1.50 (1.00).
• In conjunction with the year-end closing, the Board decided to adjust the company’s profitability objective to an operating margin before depreciation and amortization (EBITDA) of 30 percent.

Gothenburg, February 6, 2015

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 February 6, 2015 at 08:30 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 an international medical device Group. The Fertility product area develops, produces and markets medical devices for assisted reproduction. Work is also carried out to enable the use and handling of stem cells for therapeutic purposes

Vitrolife has about 330 employees and the company's products are sold in about 110 markets. The company is headquartered in Gothenburg, Sweden, and there are also offices in USA, Australia, France, Italy, United Kingdom, China, Japan, Hungary and Denmark. The Vitrolife share is listed on NASDAQ OMX Stockholm, Mid Cap.

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 99. E-mail: info@vitrolife.com. Website: www.vitrolife.com/

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