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Elos Medtech AB: Elos Medtech - Interim report, 1 January - 30 September 2016

Continued improved earnings and strong cash flow

· Net sales increased to SEK 418.7 M (367.7) which, adjusted for
exchange-rate fluctuations, corresponds to a rise of 14.7%, of which
organic growth was 2.1%.

· Operating profit improved to SEK 39.7 M (25.5, adjusted for
non-recurring items of 34.0).

· Profit after net financial items totalled SEK 32.1 M (20.0). Net
financial items were positively affected by exchange-rate differences
of SEK 1.1 M (0.1).

· Profit after tax amounted to SEK 23.5 M (12.9), corresponding to SEK
3.88 (2.13) per share.

· Cash flow from operating activities improved to SEK 73.3 M (41.7).
Cash flow after investments amounted to SEK 53.7 M (neg: 148.9).

CEO, Jan Wahlström, comments

"The market scenario for Elos Medtech remained strong during the third
quarter of the year and sales rose by 14.7% (2.1% in organic growth)
in the period January-September 2016, in comparison with the
corresponding period of 2015. The operating margin was 9.5% (6.9).

It is gratifying that all segments are showing positive figures.
Geographically, we note a distinct increase in demand in Asia and the
Nordic region. This, in combination with internally implemented
structural measures and investments, has generated favourable results
during the current year, with operating profit rising by 55.7% to SEK
39.7 M (adjusted for non-recurring items in the year-earlier period,
the rise was 14.7%). Cash flow from operating activities strengthened
further to SEK 73.3 M (41.7).

In the Dental Implant Systems market segment, Elos Medtech
additionally strengthened its market-leading position in Europe.
Growth of 9.8% was noted during the first nine months of 2016.
Activity in contract services remained strong in the third quarter.
In the field of own products, the favourable trend continued through
the launch of new products (Hybrid Base in Digital Dentistry) and new
distribution agreements, thus enabling more sales channels.

The trend in the Trauma & Spine market segment slackened somewhat
during the third quarter of 2016. Sales amounted to SEK 142.3 M
(107.9) on a nine-month basis and sales for the third quarter was SEK
42.3 M (50.5). A contract customer of Onyx in the US has moved a
product to its own manufacturing, which leads to decreased delivery
volumes. The capacity freed up in production is now being filled
gradually with new assignments and the current plan is that
production will return to full capacity a bit into 2017. The
underlying market trend in the Trauma & Spine area remains strong.

During the third quarter, a reversal of trend was noted in the Medical
Devices market segment, where a slightly more than 3% sales decline
in the first half of the year turned into a total increase of 3.4%
for the first nine months of the year. Sales from the operation in
Tianjin, China, made a strong contribution to this rise.

The favourable trend in the Diagnostics market segment continued
during the third quarter and a total sales increase of 17.2% was
reported for the first nine months of the year. Sales to the existing
customer base were good, at the same time as we are continuing to
attract new customers.

Investments during the third quarter totalled SEK 2.8 M, compared with
total investments of SEK 21.4 M in the first half of the year. The
outcome of these investments, which mainly related to extension,
rebuilding and new building of capacity at Microplast and new
capacity in Gørløse in Denmark, was satisfactory, resulting in
increased delivery volumes.

Overall, it can be said that Elos Medtech has entered a healthy phase
of development, very much due to previously approved and implemented
investments. Meanwhile, we see a stable market, which is expected to
be sustained in the immediate future. With generally strong
profitability throughout the Group and reduced borrowing, it can be
concluded that Elos Medtech is on the right track."

Jan Wahlström
President and CEO

For further information, contact:
Jan Wahlström, President and CEO, +46 70-212 18 89, e-mail:

Ulrica Ehn, CFO, +46 510-48 43 67, +46 702-72 11 61, e-mail:

This is information that is such information that Elos Medtech AB
(publ) is obliged to published in accordansce with the EU Market
Abuse Regulation and the Securities Market Act. The information was
issued for publication by the contact person stated above, on 26
October 2016, at 08:00 (CET).

For additional information about the Elos Medtech Group, visit


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