Q3 19/20: Continued growth and Main market listing during an ongoing pandemic

CELLINK publishes the interim report for the period March 2020 – May 2020 as well as the report for the first nine months. The report is available on the company's website: https://cellink.com/investors/. This press release presents a summary of the report.

Third quarter

  • Net sales amounted to kSEK 41,603 (kSEK 29,624), corresponding to an increase of 40% (143%) compared to the third quarter of the previous financial year, of which 8% (106%) organic growth.

  • Operating profit before depreciation and amortization (EBITDA) amounted to kSEK -10,575 (kSEK 1,293), corresponding to a negative margin (4.4%). The operating profit was negatively affected by one-offs relating to the Main market listing of kSEK -4,176.
  • Net income amounted to kSEK -25,533 (kSEK 289), generating earnings per share of SEK -0.60 (SEK 0.01). Net income was, in addition to listing costs, also negatively affected of the market valuation of the company’s short-term investments of kSEK -14,108.
  • Rolling 12 months recurring revenue amounts to kSEK 20,606 (kSEK 8,493), corresponding to an increase of 143%. The share of total product sales is 14%, an increase with 4.5 percentage points since the 12-month period ending May 31, 2019.

First nine months

  • Net sales amounted to kSEK 125,275 (kSEK 73,460), corresponding to an increase of 71% (156%) compared to the first nine months of the previous financial year, of which 26% (132%) organic growth.
  • Operating profit before depreciation and amortization (EBITDA) amounted to kSEK -25,215 (kSEK 5,787), corresponding to a negative margin (7.9%). The operating result was negatively affected by one-offs relating to the Main market listing of -8,372 kSEK.
  • Net income amounted to kSEK -47,955 (kSEK 2,327), generating earnings per share of SEK -1.18 (SEK 0.07). Net income was, in addition to listing costs, also negatively affected by the market valuation of the company’s short-term investments of kSEK -14,621.

Events during the quarter (March-May 2020)

  • On March 4, the company received a grant of approximately MSEK 2 from Vinnova to develop tissues for drug residues.
  • On March 31, the company received an order for hand disinfectant and test equipment of MSEK 5.2 from the Swedish National Board of Health and Welfare.
  • On April 1, it was announced that CELLINK wins the prestigious Red Dot Award for design quality of CELLCYTE X.
  • On April 20, CELLINK’s shares began trading on Nasdaq Stockholm following the move from Nasdaq First North.
  • On May 14, the company announced a partnership with AstraZeneca to use CELLINK's 3D bioprinting to create liver organoid cultures.
  • On May 20, the company's founder and CEO Erik Gatenholm was awarded Svenska Dagbladet's business achievement in 2020.

Events during the rest of the financial year (Sept-Feb 2019/2020)

  • On October 14, the company announced that CELLINK's four founders had been named “Entrepreneurs of the Year 2019” in Sweden.
  • On October 25, CELLINK announced that it had set up a subsidiary in France. The Group has also started companies in Japan and the UK during the financial year.
  • On November 21, CELLINK released two new bioinks, an expansion of three existing ink series, a new Thickening series and two products for improved cell analysis. The products were launched continuously until January 2020.
  • On December 13, the Board of Directors set financial targets for the Group for the period 2019-2022. CELLINK's goal is to grow organically by at least 35% per year and further through acquisitions.
  • On December 23, a five-year agreement was signed for a new production area in Gothenburg. This increases the production area from 300 m2 to 1600 m2.
  • On January 10, the 4:1 stock split was registered.
  • On January 29, the company carried out a new share issue and raised approximately MSEK 377.
  • On February 3, the company extended its cooperation agreement with AstraZeneca by one year.

Events after the end of the period

  • On June 9, CELLINK was granted a patent for its unique cellulose-based bioink technology that enables bioprinting of multiple cell types for tissue engineering and regenerative medicine. Patent protection applies to the US market.
  • On June 10, CELLINK and Lonza partnered to offer complete workflows for 3D cell culture.
  • On June 24, CELLINK called an extraordinary general meeting to request a mandate to issue new shares in connection with possible acquisitions.

For further information, please contact:

Erik Gatenholm, CEO                                   Gusten Danielsson, CFO

Phone (Sweden): +46 73 267 00 00              Phone (Sweden): +46 70 991 86 04

Phone (US): +1 (650) 515 5566                    Phone (US): +1 (857) 332 2138

Email: [email protected]                                  Email: [email protected]                     

Important information

This information is such information as CELLINK AB is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on July 9, 2020 at. 08:30 CET.

About CELLINK

CELLINK is a niche life-science company developing and delivering life-science solutions for cell culturing. We focus on three application areas including bioprinting, analysis and liquid handling & bioprocessing to be able to deliver a complete solution in our life science niche. We target to develop and commercialize cell culture technologies, enabling researchers to print human organs and tissues for pharmaceutical and cosmetic applications. Founded in 2016 with installations in more than 55 countries, CELLINK is changing the future of medicine as we know it. Visit www.cellink.com to learn more. CELLINK is listed on Nasdaq Stockholm Main Market under CLNK B.

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