RaySearch Laboratories: Interim report January 1 - March 31, 2020

RAY BRegulatory press release2020-05-05 10:45

"Order intake rose 49 percent, net sales rose 21 percent and the operating margin increased to 25 percent (13) in the first quarter of 2020", says Johan Löf, CEO of RaySearch.

FIRST QUARTER (JANUARY-MARCH 2020)

Order intake SEK 300.0 M (201.6)
Net sales SEK 208.9 M (173.1)
Operating profit SEK 51.6 M (23.2)
Profit after tax SEK 40.5 M (17.2) and
earnings per share before/after dilution SEK 1.18 (0.50)
Cash flow SEK -4.2 M (-1.8)
Order backlog SEK 1,281.5 M (876.9) at the end of the period

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

The RayStation® treatment planning system was selected by several leading cancer centers, including Oslo University Hospital in Norway, Haaglanden Medical Center, Leiden University Medical Center and Haga Hospital in the Netherlands, Liverpool Cancer Therapy Centre in Australia and Banner MD Anderson Cancer Center in Arizona, US.
In February 2020, MD Anderson Cancer Center in Texas, US, ordered additional RayStation licenses for approximately SEK 40 M with the aim of replacing their existing treatment planning systems.

SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD

It is not possible at present to estimate the full effect of COVID-19 on RaySearch. The company is financially robust and well-adapted to digital collaboration. The R&D and the delivery capacity are relatively unchanged. However, RaySearch's preliminary assessment is that COVID-19 could have a significantly adverse effect on the second quarter, mainly because orders may be delayed. Management is monitoring the situation closely and is prepared to take action if needed.
Due to COVID-19, the Annual General Meeting has been postponed and will be held on June 30, 2020. RaySearch will provide notice of the AGM no later than four weeks before then.

The information contained in this interim report is such that RaySearch Laboratories AB (publ) is obliged to disclose under the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication on May 5, 2020 at 7:45 a.m. CET.

TELECONFERENCE IN CONJUNCTION WITH THE INTERIM REPORT

CEO Johan Löf and CFO Peter Thysell will present RaySearch's interim report for January-March 2020 at a teleconference to be held in English on Tuesday, May 5, 2020 at 4:00 p.m. CET.

For login details to the teleconference, please register on:
http://emea.directeventreg.com/registration/4674269 (http://emea.directeventreg.com/registration/6642347)

FOR FURTHER INFORMATION, PLEASE CONTACT:

Johan Löf, President and CEO Tel: +46 8 510 530 00 E-mail: johan.lof@raysearchlabs.com
Peter Thysell, CFO Tel: +46 70 661 05 59 E-mail: peter.thysell@raysearchlabs.com

ABOUT RAYSEARCH

RaySearch Laboratories AB (publ) is a medical technology company that develops innovative software solutions for improved cancer treatment. The company develops and markets the RayStation treatment planning system and RayCare oncology information system to cancer centers all over the world and distributes the products through licensing agreements with leading medical technology companies. The company is also developing a new treatment control system, RayCommand, which is expected to be launched at the beginning of 2021. RaySearch's software is currently used by over 2,600 centers in more than 65 countries. The company was founded in 2000 as a spin-off from the Karolinska Institute in Stockholm and the share has been listed for trading on Nasdaq Stockholm since 2003.
More information about RaySearch is available at www.raysearchlabs.com