EKF Diagnostics Holdings plc final results 2014

 16th Mar 2015

EKF Diagnostics Holdings plc (AIM: EKF), the AIM listed point-of-care, central laboratory and molecular diagnostics business, announces its audited final results for the year ended 31 December 2014. EKF has an installed base of over 80,000 analysers globally and manufactures over 56 million tests annually.

 Financial Highlights

  • Revenues up 26% to £40.1m (2013: £31.8m)
    • Organic growth of 6% with acquisitions contributing £6.5m
    • Strong second half growth of 38% year-on-year
    • £2.6m negative effect of exchange rates
  • Gross profit up 22% to £19.9m (2013: £16.3m)
  • Adjusted EBITDA* up 31% to £6.3m (2013: £4.8m)
  • Cash at 31 December 2014 of £8.3m (2013: £2.6m); Net cash of £2.1m (2013: £0.1m)

* Excluding exceptional items and share based payments

 Operational Highlights

 Point-of-Care

  • Over 18,000 analysers sold during the year taking installed based to over 80,000
  • Quo-Lab instrument sales up more than 30%; Biosen instrument sales up more than 8%
  • Significant tender wins for HemoControl in Mexico and Latin America

 Central Laboratory                                                                                                                                                

  • Overall sales down 14%, with β-HB reagent sales up 9%

 Molecular Diagnostics

  • Major US collaboration to use PrecisionPath™ to improve colon cancer treatment
  • Multiple third party evaluations commissioned for PointMan™

 David Evans, Executive Chairman of EKF, said:

“Our ambitions remain to achieve double digit growth and to be able to exploit the opportunities in front of us. We are under no illusion that we must deliver on expectations and that as we continue to seek to grow we must do this in a non-dilutory fashion. I am buoyed by the opportunities in front of us and in particular the opportunities presented by PrecisionPath.”

Download the full annoucement here