Half Yearly Report

 28th Sep 2015

EKF Diagnostics Holdings plc (AIM: EKF), the point-of-care, central laboratory, and molecular diagnostics business, announces its unaudited interim results for the six months ended 30 June 2015.

Financial Highlights

Revenue up marginally to £16.78m (H1 2014: £16.77m)

  • Adjusted EBITDA* is £0.73m (H1 2014: £2.22m)
  • Gross margin on Point-of-Care business up to 52% (H1 2014: 49%)
  • Cash at 30 June 2015 was £2.08m (31 Dec 2014: £8.35m), net debt of £5.18m (31 Dec 2014: net cash £2.10m) after deferred consideration payments of £1.43

* Before exceptional items and share based payments

 Operational Highlights

Strongest tender pipeline to date with a number to be decided in H2, including significant Middle East win

  • Underlying growth across most Point-of-Care product lines
  • Year-on-year revenue growth from diabetes products expected to be substantial
  • SensPoint analyser due for full launch in early 2016
  • Significant progress in sTNFR development
  • PointMan expected to complete CE Marking process in H2
  • PKU on course to launch in Q1 2016

Commenting on outlook, David Evans, Executive Chairman of EKF, said:

“The Company expects to see the benefits of revenues from tender orders in H2, including those which were delayed from H1. We will look to update the market with details of our Middle East tender win once we are able to do so.”

The full announcement can be downloaded here.