Interim Report SciBase Jan 1 - Jun 30 2016

Press release

Interim Report

January 1 – June 30, 2016

The second quarter in figures

  • Total net sales amounted to TSEK 1,855 (918).
  • The loss after tax amounted to TSEK 14,468 (10,939).
  • The loss per share amounted to SEK 1.75 (1.80).
  • The cash flow from current operations was negative in the amount of TSEK 13,112 (13,858).
  • Significant margin improvement with gross margin increasing to 30.1% in Q2 (-34.5% Q2 15).

 The first half-year in figures

  • Total net sales amounted to TSEK 2,921 (1,975).
  • The loss after tax amounted to TSEK 26,068 (20,118).
  • The loss per share amounted to SEK 3.15 (3.63).
  • The cash flow from current operations was negative in the amount of TSEK 24,359 (23,055).
  • Significant margin improvement with gross margin increasing to 28.7% (-14.6%).

 Important events during the quarter

  • Record growth in key market Germany with total sales up 124% and electrode sales volume up 212%.
  • SciBase will insource the strategically important production of the disposable electrode from Ginolis. The companies have mutually agreed to transfer the manufacturing to SciBase when Ginolis AB has completed the next milestone in the stepwise automation of the production process. 
  • As part of the Nevisense PMA-process, a series of inspections were carried out by the US FDA with good results. 
  • The AGM was held on May 16, 2016.
  • SciBase participated in the Euromelanoma week May 9-13, a European initiative to highlight skin-cancer.  
  • On April 25th, the Annual Report for 2015 was published.

Important events after the end of the period

A milestone was passed when the hundredth clinic in Germany installed a Nevisense device.

Financial overview 

Jul 1 2015 -
Apr 1 - June 30 Jan 1 - June 30 Jun 30 2016 Jan 1-Dec 31
THE GROUP 2016 2015 2016 2015 Rolling-12 2015
Net sales, SEK ths 1 855 918 2 921 1 975 5 097 4 151
Gross margin, % 30,1% -34,5% 28,7% -14,6% 24,1% 2,5%
Equity/Asset ratio, % 92,7% 91,4% 92,7% 91,4% 92,7% 95,1%
Net indebtness, multiple 0,08 0,09 0,08 0,09 0,08 0,05
Cash equivalents, SEK ths 108 786 165 595 108 786 165 595 108 786 133 736
Cashflow from operating activities, SEK ths -13 112 -13 858 -24 359 -23 055 -47 892 -46 588
Earnings per share (before and after dilution), SEK* -1,75 -1,80 -3,15 -3,63 -5,73 -6,01
Shareholder's equity per share, SEK* 14,45 27,41 14,45 30,13 14,45 21,09
Average number of shares, 000'* 8 285 6 085 8 285 5 535 8 285 6 910
Number of shares at closing of period, 000'* 8 285 8 285 8 285 8 285 8 285 8 285
Share price at end of period, SEK 17,20 43,00 17,20 43,00 17,20 31,00
Average number of employees 19 13 19 14 15 14
*Adjusted for in May 2015 performed reversed split, 40:1