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2017-02-07

CellaVision AB: Year-end bulletin 2016, Strong close to 2016 and a very strong start of 2017

The information is such that CellaVision AB (publ) is obligated to disclose
pursuant to the Swedish Securities Market Act and the Financial Instruments
Trading Act.).
The information was released for public disclosure on February 7, 2017 at
08.20.

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| October 1- December 31, 2016 January 1 - December 31, 2016 |
| * Net sales increased by 11 % to SEK 265.0 million (239.4). |
| * Currency-adjusted growth was 9% (0%). |
| * Net sales increased by 18% to SEK 72.8 million (61.6). * Operating profit increased to SEK 74.2 million (65.5). |
| * Currency-adjusted growth for the quarter was 14% (-25). * The operating margin increased to 28.0% (27.3). |
| * Operating profit increased to SEK 21.6 million (16.4). * Earnings per share increased to SEK 2.51 (2.22). |
| * The operating margin increased to 29.8% (26.7). * Cash flow from operating activities was SEK 76.6 million (88.0). |
| * Earnings per share were SEK 0.75 (0.64) * The Board of Directors proposes a dividend of SEK 1.50 per share for 2016 |
| * Cash flow from operating activities was SEK 35.0 million (12.3). (1.50) |
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|Significant events after the periods close |
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| * The company reports a very strong increase of net sales for the first |
| quarter compared with the same quarter in the previous year. |
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CEOs comment

A strong quarter in the human healthcare market

2016 closed with a strong quarter for CellaVision. Sales were SEK 72.8 million
(61.6), corresponding to growth of 18 percent with a positive exchange rate
impact of about four percent. This was achieved despite the fact that the
comparative quarter in 2015 included a sale to the veterinary market of about
SEK 4 million that was not repeated in 2016. Growth for the human healthcare
market was 24 percent. The operating profit increased by 32 percent to SEK
21.6 million (16.4), corresponding to an operating margin of 29.8 percent
(26.7) and the cash flow was SEK 27.4 million (8.1).

CellaVision's largest regions, the Americas and EMEA, performed well in the
quarter. Sales in EMEA increased to SEK 26.7 million (18.0) and during the
quarter we established an organization for market support in France. The
Americas continues to perform well and CellaVision grew by 46 percent in the
human health care market in the quarter. Net sales were SEK 40.1 million
(30.4) and growth was 32 percent including both human healthcare as well as
the veterinary market.

After a period of growth, APAC reported a weaker fourth quarter, with a
decrease in sales of 54 percent to SEK 6.0 million (13.2). During the quarter
we signed an agreement with a new distribution partner, Semacare and a market
support organization was established in Oceania.

Full year 2016: Breakthrough in APAC and 27 percent global growth in the human
healthcare market

2016 was a successful year for CellaVision, with sales of SEK 265.0 million
(239.4), corresponding to growth of eleven percent. The favorable development
is a result of our breakthrough in APAC, which grew by 70 percent and
accounted for 18 percent of our sales and the strong performance in the human
healthcare market, which grew globally by 27 percent. The Americas reported
strong performance in the human healthcare market, which increased by 34
percent and including the veterinary market, the total increase was two
percent in the Americas. Growth in EMEA was four percent.

Continued investment in market penetration

2016 showed clearly the crucial importance of a direct presence in the form of
own organizations for market support. During the year we continued our
establishment in the Middle East, South Korea, Australia and France. In the
first quarter of 2017 we will establish a direct presence in Europe's
German-speaking markets and we are planning for further establishments during
the year.

New strategy for the veterinary market and stronger cooperation with
distributors

During the year we adjusted our strategy for the veterinary market and will
use an indirect business model with sales via distribution partners for that
market as well. The distribution agreement for Oceania with Semacare is the
first example of this. The veterinary market continues to be fragmented and
our activities must be seen as long-term investments.

Innovation

The project for a new technology platform for small and mid-size laboratories
is in an intensive phase, covering both product development and launch
preparations. The launch, as previously communicated, is planned for 2018.
During the year we launched upgraded veterinary software and a major upgrade
of CellaVision® Remote Review with even better network potential. In 2016 the
CellaVision® DM9600 was approved by the Chinese authorities, making all
CellaVision's analyzers approved for sale in all relevant markets.

The order inflow at the start of the first quarter of 2017 has been
exceptionally good and we expect substantially increased sales in the
Americas, APAC and EMEA. The result of all three of our regions performing
well sum up to a very strong organic sales growth for the first quarter
compared with the same period last year.

Zlatko Rihter,
President and Chief Executive Officer

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| Key Ratios |
| (MSEK) Oct-Dec 2016 Oct-Dec 2015 Full year 2016 Full year 2015 |
| Net sales 72.8 61.6 265.0 239.4 |
| Gross profit 52.8 46.4 188.9 174.2 |
| EBITDA 23.9 17.8 82.4 73.0 |
| Operating profit 21.6 16.4 74.2 65.5 |
| Operating margin, % 29.8 26.7 28.0 27.3 |
| Profit/loss before tax 20.8 16.8 75.8 65.6 |
| Cash flow for the period 27.4 8.1 25.8 54.8 |
| Equity ratio, % 80.4 83.0 80.4 83.0 |
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Questions concerning the Year-end bulletin can be addressed to:

Zlatko Rihter, VD, CellaVision AB, Tel: 0733-62 11 06,

E-mail:zlatko.rihter@cellavision.se

Magnus Blixt, CFO, CellaVision AB, Tel: 0708-33 81 68,

E-mail:magnus.blixt@cellavision.se

About CellaVision

CellaVision is an innovative, global medical technology company that develops
and sells its own leading systems for routine analysis of blood and other
body fluids in health care services. The products rationalize manual
laboratory work, and secure and support effective workflows and skills
development within and between hospitals. The company has leading-edge
expertise in image analysis, artificial intelligence and automated
microscopy. Sales are via global partners with support from the mother
company in Lund and by the market support organizations in the US, Canada,
China, Japan, Dubai, Korea, Australia and France.
In 2016 sales were SEK 265 million and sales continue to increase, with a
growth target of at least 15 % per year over an economic cycle. CellaVision's
registered office is in Lund, Sweden. The share is listed on the Nasdaq
Stockholm, Small Cap list. Read more atwww.cellavision.com

CellaVision Year-end bulletin 2016
http://hugin.info/132164/R/2076249/780811.pdf

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CellaVision AB via Globenewswire

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