· Order bookings amounted to
· Net sales increased 7* percent to
· EBITA amounted to
· Net income amounted to
· Cash flow after continuous investments amounted to
· For 2013/14, the Board of Directors proposes an ordinary dividend of
· There are strong drivers for growth in radiation therapy. Elekta’s ambition is to continue to grow faster than the market and the financial objective of an annual net sales growth exceeding 10 percent in local currency remains unchanged.
· Due to lower growth in some emerging markets and a focus on tighter management of working capital, net sales is expected to grow by 7-9 percent in local currency for the fiscal year 2014/15.
· EBITA is expected to grow by 10 percent or more in local currency compared with last year. Exchange rate movements are expected to have a negative impact of approximately 2 percentage points on EBITA growth.
* Compared to last fiscal year based on constant exchange rates.
President and CEO comments
Elekta’s dedication to customers, patients and innovation has earned us a leading position in cancer care. I am convinced that our comprehensive solutions will play an even more important role in the future. During the year cancer incidence and cancer prevalence continued to grow faster than the capacity increased, thus widening the gap between need and capacity. I believe
Mixed development during last fiscal year
Although the fourth quarter showed record net sales, the year must be qualified as challenging and characterized by mixed market development across the regions. On an aggregated level we estimate that the overall radiation therapy market growth for the year temporarily slowed down to 4 percent, which is substantially lower than historic levels.
Elekta’s order bookings rose 5* percent in the fiscal year. We achieved double-digit growth in the US, in
Net sales rose 7* percent in the fourth quarter and 7*percent for the full year. Growth was particularly strong in region
Cash flow was lower than expected for the year. We have initiated measures to gradually improve our cash flow through the year and cash conversion is targeted to return to around 70 percent.
Continued progress in product development
Our latest linear accelerator, Versa HD™, has been very well received by the market and exceeded expectations in its first year. During the year, we also launched Esteya, a brachytherapy skin cancer solution, as well as
We are in a phase of high investments in R&D. The research program for MRI-guided radiation therapy is our largest R&D undertaking to date. We invested approximately
Streamlining for the future
We will take measures to improve efficiency and to streamline the organization for further growth. One-off costs related to these measures amounted to
There are strong drivers for growth in radiation therapy. Elekta’s ambition is to continue to grow faster than the market. Our financial objective of an annual net sales growth exceeding 10 percent in local currency remains unchanged. Due to lower growth in some of our emerging markets and our focus on tighter working capital management we expect net sales to grow by 7-9 percent in local currency for the fiscal year 2014/15.
EBITA is expected to grow by 10 percent or more in local currency compared with last year. Exchange rate movements are expected to have a negative impact of approximately 2 percentage points on EBITA growth.
President and CEO
* Compared with last fiscal year, based on constant exchange rates.
To take part in the conference call, please dial in about 5-10 minutes in advance and use the access code 944936.
Swedish dial-in number: +46 (0)8 5052 0110, UK dial-in number: +44 (0)20 7162 0077, US dial-in number: + 1 877 491 0064.
The telephone conference will also be broadcasted over the internet (listen only). Please use the link: http://webeventservices.reg.meeting-stream.com/86620/
Annual report 2013/14
May – July 2014/15
Annual general meeting 2014
Interim report May – October 2014/15
For further information, please contact:
HÅkan BergstrÖm, CFO,
+46 8 587 25 547, email@example.com
+46 702 100 451, firstname.lastname@example.org
Corporate registration number 556170-4015
Kungstensgatan 18, Box 7593, SE 103 93
The above information is such that
This information was brought to you by Cision http://news.cision.com
HÅkan BergstrÖm, +46 8 587 25 547
Director Investor Relations
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