ORIGIO a/s
Organic growth of 21% in Q4 2010 and positive results for GM-CSF study
ORIGIO a/s (OSE: ORO), a leader in Assisted Reproductive Technologies (ART), has issued its fourth
quarter report for 2010. The Q4 report is available on ORIGIO’s website (www.origio.com), and through the
Oslo Børs Information System.
Financial highlights, Q4 and full year 2010
• Revenue: Revenue in Q4 2010 of DKK 80.7 million which is 31% higher than Q4 2009. Revenue
full year 2010 of DKK 308.0 million or 16% higher than 2009. Organic growth amounted to 21% in
Q4 2010 and 12% full year 2010 in constant currency.
• EBITDA: EBITDA before special items increased in Q4 2010 to DKK 9.3 million, equalling an
increase of 64% compared to Q4 2009. Full year 2010 EBITDA before special items amounted to
DKK 43.8 million (14.2% of revenue) vs. DKK 36.2 million (13.6% of revenue) in 2009
• Cash flow from operations: Operating cash flow of DKK 17.9 million in Q4 2010 vs. DKK 6.5
million in Q4 2009. Operating cash flow in 2010 of DKK 27.5 million compared to DKK 25.6 million
full year 2009
Selected Strategic and Operational Highlights
• Strong results for GM-CSF study supporting product launch of EmbryoGen® in commercially
attractive subgroup
• Patent integrity for human use of GM-CSF in IVF media in Europe upheld. Opposition has
appealed
• IGF-II media studies demonstrated positive data on late pregnancy rates
• Acquisition of all assets from US-based Incept BioSystems, Inc (microfluidics)
• Partnering process for Stem cells ongoing. Several material transfer agreements signed
• Cryopette® received FDA clearance
• Relocation to the new media manufacturing and HQ building completed
Financial Guidance 2011
• Revenue: Revenue for 2011 is expected to be DKK 330 - 340 million. This entails an organic growth
rate of 7-10%. The guidance is excluding revenue from EmbryoGen® and any up-front payments
from stem cells.
• EBITDA%: EBITDA% before special items for 2011 is expected to be in the range of 13-15%,
excluding EmbryoGen® launch effects and related costs.
• Capital expenditures: Capital expenditures (capex) are expected to be DKK 10-15 million.
• Operating cash flow: We expect operating cash flow to be above DKK 25 million.
• The guidance is based on an average USD/DKK exchange rate for 2011 of 5.35
Organic growth of 21% in Q4 2010 and positive results for GM-CSF study
ORIGIO a/s (OSE: ORO), a leader in Assisted Reproductive Technologies (ART), has issued its fourth
quarter report for 2010. The Q4 report is available on ORIGIO’s website (www.origio.com), and through the
Oslo Børs Information System.
Financial highlights, Q4 and full year 2010
• Revenue: Revenue in Q4 2010 of DKK 80.7 million which is 31% higher than Q4 2009. Revenue
full year 2010 of DKK 308.0 million or 16% higher than 2009. Organic growth amounted to 21% in
Q4 2010 and 12% full year 2010 in constant currency.
• EBITDA: EBITDA before special items increased in Q4 2010 to DKK 9.3 million, equalling an
increase of 64% compared to Q4 2009. Full year 2010 EBITDA before special items amounted to
DKK 43.8 million (14.2% of revenue) vs. DKK 36.2 million (13.6% of revenue) in 2009
• Cash flow from operations: Operating cash flow of DKK 17.9 million in Q4 2010 vs. DKK 6.5
million in Q4 2009. Operating cash flow in 2010 of DKK 27.5 million compared to DKK 25.6 million
full year 2009
Selected Strategic and Operational Highlights
• Strong results for GM-CSF study supporting product launch of EmbryoGen® in commercially
attractive subgroup
• Patent integrity for human use of GM-CSF in IVF media in Europe upheld. Opposition has
appealed
• IGF-II media studies demonstrated positive data on late pregnancy rates
• Acquisition of all assets from US-based Incept BioSystems, Inc (microfluidics)
• Partnering process for Stem cells ongoing. Several material transfer agreements signed
• Cryopette® received FDA clearance
• Relocation to the new media manufacturing and HQ building completed
Financial Guidance 2011
• Revenue: Revenue for 2011 is expected to be DKK 330 - 340 million. This entails an organic growth
rate of 7-10%. The guidance is excluding revenue from EmbryoGen® and any up-front payments
from stem cells.
• EBITDA%: EBITDA% before special items for 2011 is expected to be in the range of 13-15%,
excluding EmbryoGen® launch effects and related costs.
• Capital expenditures: Capital expenditures (capex) are expected to be DKK 10-15 million.
• Operating cash flow: We expect operating cash flow to be above DKK 25 million.
• The guidance is based on an average USD/DKK exchange rate for 2011 of 5.35
Her lidt udvalgte slides.
Læg mærke til deres perfomance på slide 7, hvor de viser at de outperformer deres egne forventninger. Og med den vækst de har vist de andre år, så tror jeg også de kommer til at opjustere deres forventninger yderligere i 2011.
Origio_Q4_230211__Compatibility_Mo..
Læg mærke til deres perfomance på slide 7, hvor de viser at de outperformer deres egne forventninger. Og med den vækst de har vist de andre år, så tror jeg også de kommer til at opjustere deres forventninger yderligere i 2011.
Origio_Q4_230211__Compatibility_Mo..