Esperite N.V. (Euronext: ESP, 'Esperite', or 'the Group'), the European leader in stem cells cryopreservation, now entering the fields of predictive medicine and translational regenerative medicine R&D, announces its trading update for the quarter ended 30 September 2014.
Leveraging the synergies of Esperite's large network of more than 25.000 gynaecologists and over 6.000 hospitals and private clinics has been the platform for a successful start of Genoma's activities.
Genoma is the Group's business unit active in the fields of proteomics and genomics predictive medicine. The first two products, Tranquility, a non-invasive prenatal test (NIPT) and Verity, a metabolic disorder test have been successfully launched in the Group's key markets.
CryoSave: The Group's leading international stem cell processing and cryo-preservation company and the largest stem cell bank in Europe continued the positive development regarding new client intake. This is the result of an improved and more proactive sales approach. Additional impact was made by a new communication strategy to the end clients together with a new innovative and improved collection kit.
The Cell Factory, the Group's R&D division, at the heart of the value chain, between stem cells collection & storage and the existing and future treatments that regenerative medicine is developing, implements its own proprietary new technology for clinical grade production of autologous mesenchymal and stromal stem cells. This technology allows for efficient production of stem cells at large scale required for clinical translation in regenerative medicine.
The significant improvements in the operations together with a continuous focus on the ongoing cost saving measures as well as the expansion of the Group's activities into new territories and products resulted in operating expenses of €4.4 million being €0.4 million lower than in the same period last year. This gave the basis for the €0.2 million investment in Genoma's launch activities, leading to an EBITDA of -€0.3 million which is €0.1 million above Q3, 2013.
 

Frédéric Amar, Chief Executive officer, commented:

"We are pleased to see the positive trend continue during the course of Q3. The synergies between our business units will fuel further growth."

Financial highlights

  • Revenue of €6.7 million (Q3 2013[1]:
    #_ftn1    : €6.9 million)
  • Gross profit of €4.1 million (Q3 2013: €4.4 million)
  • Operating expenses before depreciation and amortisation of €4.4 million (Q3 2013: €4.8 million)
  • EBITDA*: -€0.3 million (Q3 2013: -€0.4 million)
    • EBITDA Genoma: -€0.2 million (Q3 2013: -)
    • EBITDA The Cell Factory -€0.1 million (Q3 2013: -€0.1 million)
    • EBITDA CryoSave: €0 (Q3 2013: -€0.3 million)
  • EBITA**: €0  (Q3 2013: €0)
  • Operating result: -€1.0 million (Q3 2013: -€1.1 million)
  • Net result: -€1.0 million (Q3 2013: -€0.9 million)

* EBITDA is defined as Earnings Before Interest, Taxation, Depreciation, and Amortisation

** EBITA is defined as Earnings Before Interest, Taxation and Amortisation of identified intangible assets

Operational highlights

  • 6,500 new samples stored in the third quarter of 2014 (Q3 2013: 7,000)
    Of these, 4,000 were new cord blood samples and 2,500 new cord tissue samples
  • Almost 275,000 samples have been stored in total at 30 September 2014

 

Events after the reporting period

As of 16 October 2014, Mr Gert-Jan van de Marel, non-executive director, was appointed as Chairman of the Board.

Enquiries: Cryo-Save Group + 31 (0) 575 548 998
Frédéric Amar, Chief Executive Officer  

About Esperite (www.esperite.com)

Esperite, the leading international company in regenerative and predictive medicine. Its family stem cell bank, CryoSave, stores almost 275,000 samples from umbilical cord blood and cord tissue. There are already many diseases treatable by the use of stem cells, and the number of treatments will only increase. Esperite has cryopreserved samples from over 70 countries on six continents, with ultra-modern processing and storage facilities in Belgium, Switzerland, Germany, Dubai, South Africa and Portugal.


[1]:
#_ftnref1 Q3 2013 figures were restated due to the application of IFRS 11 'Joint Arrangements', where the interest in the African joint venture has not been proportionally consolidated as from 1 January 2014 and therefore the comparative figures have been restated.

PDF: Q3 Trading Update:
http://hugin.info/143308/R/1868196/656612.pdf


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Source: Esperite N.V. via Globenewswire
HUG#1868196