Frederic Amar, appointed ESPERITE CEO on March 2014, is implementing from the onset an aggressive reorganization and development of the company. Frederic Amar's far-reaching new business model has materialized in three separate synergetic business units attacking new markets with a diversified offer, transforming a mono-product business model into a biotech multiservice company. ESPERITE's consolidated operations feature now reduced complexity, sustainable lower overhead, centralized administrative services, integrated sales and marketing strategies coupled with the technology to handle large volumes efficiently. The preliminary (unaudited) financial results for year ended 31 December 2014 published today reflect these improvements.

Frederic Amar, CEO of ESPERITE:

"ESPERITE, both an aspiration and inspiration, reborn on July 2014 to signal a whole new way of doing business and create growth. It was a year of strong impulse and fierce implementation of new ideas. Execution exceeded expectations and results will too. I am proud of our achievements this year transforming a fragile company into an ambitious start-up.Our strategic investments and mastery of technology brings ESPERITE to pole position."

Financial highlights

  • Revenue €27.6 million (2013: €29.8 million)
  • Gross profit as percentage of revenue 62.2% (2013: 64.5%)
  • Underlying* operating expenses before depreciation, amortization and impairments: €17.7 million (2013: €18.7 million)
  • Underlying EBITDA**: -€0.56 million (2013: €0.5 million)
    • CryoSave: +€0.53 million
    • Genoma ‐€0.63 million
    • The Cell Factory and others: ‐€0.46 million
  • Underlying EBITA***: -€2.1 million (2013: -€1.0 million)
  • Underlying operating result: -€3.4 million (2013: -€2.3 million)
  • Underlying net result: -€3.3 million (2013: -€2.4 million)
  • Cash position of €2.1 million as of 31 December 2014 (2013: €8.6 million)

To support its going concern assessment, the board of directors has obtained a funding statement of Salveo Holding S.A. ("Salveo"), a company controlled by Mr Frederic Amar, in which Salveo has declared that, if during a period of one year after the date of the signing of the 2014 audited consolidated financial statements and of the auditor's report contained therein the Company establishes that it is unable to fund its operations and that other sources of cash income are unavailable, Salveo will be prepared to provide the Company debt and/or equity funding on market terms for an amount up to €2 million.

* Underlying results exclude non-recurring restructuring expenses and impairment losses.
** 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.

About ESPERITE

ESPERITE group, listed at Euronext Amsterdam and Paris, is a leading international company in regenerative and predictive medicine since 2000, operational in 40 countries with a network of 6,000 clinics worldwide. ESPERITE serves clients in its state-of-the-art lab facilities in Geneva coupled with ultra-modern processing and storage facilities in Belgium, Switzerland, Germany, Dubai, South Africa and Portugal. Its family stem cell bank, CryoSave, stores almost 275,000 samples from umbilical cord blood and cord tissue.

To learn more about the ESPERITE group, or to book an interview with CEO Frederic Amar: +31 575 548 998 - ir@esperite.com or visit the websites at www.esperite.com and www.genoma.com.

PDF Downloads
distributed by