A quarter of record sales and one-time expenses

Fourth quarter

  · Sales increased by 19 percent in local currency. Sales were the highest ever for a single quarter and amounted to SEK 95 (81) million, corresponding to an increase of 18 percent in SEK.
  · Operating income (EBIT) amounted to SEK 4 (9) million. The operating margin was 4 (11) percent. One-time expenses of SEK 7 million are included and consist of remuneration to the former CEO, write-down for a development project and disposal of production equipment. EBIT excluding one-time expenses amounted to SEK 11 million, corresponding to an operating margin of 11 percent.
  · Income before tax amounted to SEK 4 (11) million. Net income amounted to SEK 2 (-1) million, which gave earnings per share of SEK 0.11 (-0.04).
  · The cash flow from operating activities was SEK 10 (21) million.
  · Magnus Nilsson handed over responsibility for the Group in order to be able to completely focus on Vitrolife's transplantation area, Xvivo, which will be a more independent unit within Vitrolife. Thomas Axelsson was appointed Acting CEO.

Whole year

  · Sales increased by 27 percent in local currency. Sales amounted to SEK 365 (298) million, corresponding to an increase of 20 percent in SEK.
  · Operating income (EBIT) increased by 24 percent and amounted to SEK 41 (33) million. The operating margin was 11 (11) percent. One time expenses of SEK 7 million are included and consist of remuneration to the former CEO, write-down for a development project and disposal of production equipment. EBIT excluding one-time expenses amounted to SEK 48 million, corresponding to an operating margin of 13 percent.
  · Income before tax increased by 9 percent to SEK 45 (41) million. Net income amounted to SEK 31 (29) million.
  · Vitrolife was the first company to obtain regulatory approval in China for a whole series of cultivation media for IVF.
  · A study showed that EmbryoGlue®, a product patented by Vitrolife, increases the chances of infertile women having children.
  · A clinical study showing good results when using STEEN Solution? was published in a prominent scientific journal. In all more than 100 patients have now received new lungs through the use of STEEN Solution?.
  · Increased growth potential for Vitrolife in China - regulatory approval was obtained for instruments used in IVF treatment.
  · Regulatory approval of aspiration needles in Japan, the second largest IVF market in the world.
  · American study on STEEN Solution? was begun and so far 7 out of a total number of 12 planned transplantations have been carried out.
  · Magnus Nilsson handed over responsibility for the Group in order to be able to completely focus on Vitrolife's transplantation area, Xvivo, which will be a more independent unit within Vitrolife. Thomas Axelsson was appointed Acting CEO.

After the end of the year

  · The Board's proposal for dividend amounts to SEK 0.60 (0.60) per share.

Gothenburg, February 7, 2012

VITROLIFE AB (publ)

The Board of Directors