Artificial Intelligence
CellaVision AB: Good profitability despite negative COVID-19-effect
The information was submitted for publication at 08.20 CET on July 16, 2020
1 April -30 June 2020Net sales increased by 5% to SEK 118.0 million (112.4).Sales decreased organically by 15% (+18).EBITDA amounted to SEK 36.2 million (41.3).EBITDA margin amounted to 31% (37).Profit before tax amounted to SEK 34.4 million (37.9).Earnings per share before and after dilution were SEK 1.14 (1.27).Cash flow from operating activities amounted to SEK 34.1 million (17.3).1 January-30 June 2020Net sales increased by 17% to SEK 252.5 million (216.3).Sales decreased organically by 8% (+24).EBITDA amounted to SEK 77.4 million (79,6). EBITDA margin amounted to 31% (37).Profit before tax amounted to SEK 59.8 million (72.8).Earnings per share before and after dilution were SEK 1.99 (2.42).Cash flow from operating activities amounted to SEK 49.5 million (68.4).Significant events related to COVID-19The company expects the COVID-19 pandemic to have a significant negative impact on CellaVision’s sales and earnings for a number of months to come.The Annual General Meeting resolved that no dividend for the 2019 financial year be paid.Several measures on the cost side were implemented resulting in good profitability despite negative organic growth in the quarter.“The development of the ongoing pandemic is difficult to predict. The negative effects of the pandemic in Americas is currently our biggest challenge. We initiated measures on the cost side early on to secure CellaVision’s opportunities to accelerate as soon as the world situation normalizes.” Zlatko Rihter, CEOCEO comment´sSales in the second quarter of 2020 amounted to SEK 118.0 million (112.4), corresponding to negative organic growth of 15 percent (+18). Including sales of RAL Diagnostics (RAL) products, growth amounted to five percent. Sales varied considerably between our different regions. EMEA grew by seven percent excluding sales of RAL’s products, including RAL, which has about 90 per cent of its sales in EMEA, growth amounted to 89 percent. Americas had a weak development in the wake of the COVID-19 pandemic with negative growth of 57 percent. APAC’s development was the reverse with growth of 106 percent. Currency effects were negative by three percent in the quarter.CellaVision responded early to the COVID-19 pandemic and implemented a series of cost-related measures that had a major impact in the quarter. The Annual General Meeting followed the Board’s proposal and decided that no dividend should be paid for 2019, which secured liquidity in the company. The impact on the Group’s total cash flow for the quarter was strong and increased to SEK 18.1 million (-23.8).Furthermore, we have prioritized our efforts and thus managed to maintain good profitability in the quarter despite negative organic growth. EBITDA amounted to SEK 36.2 million (41.3) in the quarter, corresponding to an EBITDA margin of 31 percent (37). The EBITDA margin is slightly lower than before, but given the current situation, we are satisfied with the outcome and our ability to quickly reposition the business to meet current challenges. With the measures taken we are well equipped for the future and can accelerate when the situation in the world normalizes.Effects of the COVID-19 pandemicOur end-customers in the Americas and EMEA were heavily affected by the extensive lockdowns in the quarter, and very few installations have been carried out in the USA and France in the last three months. In countries such as China and Korea, which were hit early by restrictions due to the COVID-19 pandemic, the situation has improved during the quarter and the markets are now on the path to a more normalized situation. CellaVision has not implemented any short-time work or laid off any staff due to the COVID-19 pandemic, but as part of the cost-cutting measures, we have postponed planned recruitments.Market developmentAmericas was heavily affected by the COVID-19 pandemic in the second quarter of the year with a growth amounting to negative 57 percent. Americas is normally CellaVision’s largest region, but during the second quarter of the year, Americas was the region with the lowest sales. Sales amounted to SEK 28.8 million (66.7). The lockdown in the region has resulted in limited possibilities to install, which also affected our distribution partners. The focus for CellaVision has instead been on conducting training and marketing through digital channels, which has increased significantly. We have developed a new methodology to reach our customers in the wake of the pandemic that we will benefit from in the future.EMEA grew with seven percent excluding structural effect from the acquisition of RAL. Including sales of RAL’s reagents, growth amounted to 89 percent. Although the possibility of installations was clearly limited due to the COVID-19 pandemic, sales of large systems were relatively good. Just like in North America we have become a standard in large parts of Western Europe, meaning that when a laboratory replaces its instruments and systems, CellaVision’s solutions are included in the installation. This means that we will see a normalization of sales as soon as hematology installations can be resumed. CellaVision DC-1 has been launched in most European markets, but the restrictions caused by the pandemic have meant that many smaller laboratories have been closed, which has significantly delayed the commercialization process.APAC had a strong quarter with sales of SEK 32.6 million (15.8), corresponding to an increase of 106 percent. The COVID-19 situation in APAC is more mixed than in other regions. China performed well in the quarter, in Korea we see a more normalized situation, while other countries such as Japan, Australia and India have been completely closed down during parts of the second quarter.RAL/ReagentsThe acquisition of RAL was formally completed on October 1, 2019 and RAL has since been part of CellaVision. Sales of reagents developed well during the quarter and contributed to sales growth, primarily in EMEA. We continue to launch reagents in new markets while advancing the important work of optimizing the so-called staining protocols. The acquisition has implied that CellaVision now has a wider product range and a larger market. Reagents become an integral part of the customer offering and complement previous capital goods with consumables. We work intensively to expand sample preparation products in hematology to new markets through CellaVision’s comprehensive organization for local market support. In the long term, we also expect the acquisition of RAL to enable us to expand to adjacent analysis areas outside hematology.Geographic expansionDuring the quarter we became operational in Russia. Overall, CellaVision now has 18 local organizations that offer market support in more than 40 countries. We will wait for further establishments until the COVID-19 pandemic has subsided.In addition, a global agreement was established during the quarter for CellaVision’s instruments for the veterinary market as well as a global agreement for reagents with one of our distribution partners.InnovationCellaVision DC-1 has now entered full-scale series production after a step-by-step ramping up of production in 2019. As an effect of the ongoing pandemic, demand for CellaVision DC-1 has been limited during the second quarter of the year.During the first quarter of the year, we submitted our application to the FDA (510k) for market clearance in the US for CellaVision DC-1 and preparations for the launch in 2021 are in full swing. The process of market approval in China for CellaVision DC-1, initiated in the first quarter of the year, is also proceeding according to plan.The new software for the veterinary market was completed and released to the market during the quarter. The software makes it possible to run the veterinary application on CellaVision DC-1 Vet and Sysmex DI-60. A unique function for CellaVision DC-1 Vet included in the software, is the ability to also classify avian blood. This feature is expected to open up new business opportunities. In addition, the software will also contain workflow improvements for all systems.Our long-term strategy remainsGeographic expansion and innovation are CellaVision´s core areas and we continue to increase investment to secure our future position in our market segment and maintain strong growth as soon as the effects of COVID-19 subside and the world returns to a more normalized state.In May, I informed the Board of Directors that I wish to leave CellaVision. The recruitment process to find my successor is initiated and I will continue in my current role during the notice period and leave on November 28, 2020 at the latest. The decision to leave CellaVision was difficult on many levels. CellaVision is a fantastic company, in a very strong momentum, with a strong international marketing organization, a gradually expanded development organization and an experienced and skilled management team.Zlatko Rihter,
President and CEOQuestions concerning the interim report can be addressed to:
Zlatko Rihter, VD, CellaVision AB, Tel: 0733-62 11 06,
E-mail: [email protected]Magnus Blixt, CFO, CellaVision AB, Tel: 0708-33 81 68
E-mail: [email protected]About CellaVision
CellaVision is an innovative, global medical technology company that develops and sells products for sample preparation and systems for routine analysis of blood and other body fluids in health care services. The analyzes form an important basis for rapid and correct disease diagnoses, for example in the case of infections and serious cancers. CellaVision’s products replace manual laboratory work, and secure and support effective workflows and skills development within and between hospitals. The company has leading-edge expertise in sample preparation, image analysis, artificial intelligence and automated microscopy. Sales are via global partners with support from the parent company in Lund and by the company´s 18 local market support organizations covering more than 40 countries. In 2019, sales were SEK 462 million and the company’s growth target is 15% per year over an economic cycle. CellaVision’s registered office is in Lund, Sweden. The share is listed on the Nasdaq Stockholm, Mid Cap list. Read more at www.cellavision.comPublication
This information constitutes information that CellaVision AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 8:20 a.m. CET on July 16, 2020.AttachmentCellaVision Interim report January-June 2020
Artificial Intelligence
GITEX GLOBAL and Expand North Star set to accelerate world’s AI economy with market projected to reach $2.7 trillion by 2032
• Event billed as a catalyst for redefining the world’s digital economy and AI ecosystem under this year’s ‘Global Collaboration to Forge a Future AI Economy’ theme
DUBAI, UAE, Oct. 12, 2024 /PRNewswire/ — GITEX GLOBAL, the world’s largest tech and startup event, takes centre stage in the UAE next week with this year’s 44th edition destined to redefine the world’s digital economy and AI ecosystem.
Held at Dubai World Trade Centre (DWTC) from 14-18 October, the incomparable international showpiece will be more influential than ever this time around – presenting an expanded events programme that transforms the UAE into an AI universe epicentre.
Under the theme “Global Collaboration to Forge a Future AI Economy”, GITEX GLOBAL 2024 welcomes the world’s largest technology enterprises alongside governments, investors, experts, startups, academia, and researchers.
Expand North Star, the world’s largest startup and investment show, runs concurrently at Dubai Harbour from 13-16 October – hosted by Dubai Chamber of Digital Economy and organised by DWTC.
With over 6,500 exhibiting companies, 1,800 startups, and 1,200 investors from more than 180 countries participating across 38 halls of innovation and business opportunities, these blockbuster events will see the UAE “strategically propel the next generation of AI-driven technologies”.
Trixie LohMirmand, Executive Vice President of DWTC, the organiser of GITEX GLOBAL and Expand North Star, said: “At GITEX GLOBAL in Dubai, we shall close the year with significant manoeuvres from our tech community by doubling down on global collaborations and intensive engagements amongst all involved. Through these efforts, we shall forge competitive advantages in the race towards regional and international digital supremacy.
“With international participation in GITEX GLOBAL 2024 rocketing by almost 40 per cent, it’s a barometer of the unstoppable ambitions of many young rising digital nations who are now confidently forging their ways into the future global AI economy through GITEX. As the world’s most global tech event brand with events in Germany, Singapore, Morocco, and Nigeria alongside Expand North Star, we are committed to strategically propelling the next generation of AI-driven technologies via startups, scale-ups and unicorns.”
A global agenda for tomorrow’s AI economy
According to Fortune Business Insights, the global AI market is projected to reach $621 billion in 2024 and soar to $2.7 trillion by 2032. Given its influence and impact now and in the future, the technology takes centre stage at GITEX GLOBAL 2024 with over 3,500 enterprises presenting the latest breakthrough innovations in AI, IoT, data, and the cloud.
Amongst them is TECOM Group PJSC, which celebrates its 25th successive year at GITEX GLOBAL next week. Ahead of the event, Ammar Al Malik, Executive Vice President of Commercial at TECOM Group PJSC and Managing Director of Dubai Internet City, said: “Dubai’s pro-innovation frameworks are the bedrock of tech advancements that serve a greater purpose. GITEX GLOBAL is a springboard to unlock this potential, and as the region’s leading tech hub, Dubai Internet City has been a proud partner for decades in its mission towards a brighter future. Our community is pleased to connect innovators from more than 3,500 companies across fields like artificial intelligence (AI), Web3, digital transformation, and beyond to realise this vision.”
Abu Dhabi’s most influential companies and organisations, including the Advanced Technology Research Council (ATRC) and G42 Group with its leading enterprises Presight and Khazna, will reinforce the Emirate’s position as an emerging global AI nexus. Other tech giants participating are Adobe, Alibaba Cloud, AWS, Builder Ai, Dell, Google, Honeywell, Huawei, IBM, Lenovo, Microsoft, Nvidia, Oracle, Salesforce, SAS, solutions by STC, and Tech Destination Pakistan.
Presenting the year’s largest AI event, GITEX GLOBAL will deliver 120-plus hours of AI and deep tech-focused content across various topics, facilitating discussions on the implications of AI in Future Health, Digital Finance, and EdTech. Following the wildfire pace of AI adoption and the unprecedented growth in data storage demand, the event is also launching the region’s largest Data Centre Symposium in 2024, featuring the industry leaders Datalec, Kerno, Khazna, Legrand, NTT Data, Schneider Electric, Vertiv, among many others.
The programme will build anticipation ahead of the all-new AI Everything Global 2025. This event – taking place in Abu Dhabi (4 February) and Dubai (5-6 February) will gather some of the world’s most visionary AI tech companies to construct an innovative, fair, and responsible AI industry of the future.
Fast-tracking the next generation of startups
The world’s largest startup and investment event, Expand North Star will foster the next frontier of tech and innovation. In another record-breaking edition, the event will connect the most innovative global founders with new markets, enterprise customers, and an influential pool of investors and venture capitalists with over $1.2 trillion in Assets Under Management (AUM). These include SOSV, Bessemer Ventures, Lightrock, Sinovation Ventures, and the European Innovation Fund.
Additionally, Expand North Star will seek to redefine the future of money, blockchain, and creativity through leading co-located events GITEX Impact, Fintech Surge, Future Blockchain Summit, and Marketing Mania. Accelerating the next generation of scaleups, the world’s largest start-up pitch competition, Supernova Challenge 2.0, also graces GITEX GLOBAL with the winners claiming a share of the $200,000 prize pool.
Historic international involvement
GITEX GLOBAL 2024 will welcome the highest international attendance in its history, welcoming over 400 government and digital development agencies from around the world. Alongside GITEX GLOBAL regulars, the new nations debuting this year will showcase their latest groundbreaking tech innovations.
Next week marks the largest European participation at GITEX GLOBAL with over 35 European countries exhibiting alongside 1,000-plus SMEs and 450-plus startups from debuting countries, including Austria, Bosnia and Herzegovina, Ireland, Latvia, Lithuania, Portugal, Serbia, and Slovenia.
Many rising digital nations from Latin America are also behind the record-breaking international involvement, as are those from Central and Southeast Asia. Joining long-time GITEX GLOBAL participants such as China, Japan, South Korea, and India are several debutants – Singapore, Malaysia, Kazakhstan, and Kyrgyzstan amongst them.
While promoting international business development, entrepreneurship, and investment engagements to benefit enterprises, organisations, and SMEs alike, GITEX GLOBAL welcomes the European Innovation Council for the first time, Europe’s biggest deep-tech investor.
It will also see significant collaborations with global organisations from all continents, such as the European Innovation Council, Tech Destination Pakistan, IE University, University College London (UCL), Johns Hopkins University, the Massachusetts Institute of Technology (MIT), and key corporate ventures from leading tech enterprises such as Sony, Honda, Standard Chartered, QIC, and many more.
An action-packed agenda
Throughout its six-day duration, GITEX GLOBAL will become a microcosm of the world, launching industry-defining programmes such as GITEX Editions, an exclusive platform for late-stage advanced tech companies and a premier hub for unicorns, soonicorns and rhinos. In 2024, the event will connect 59 top global unicorns, such as Axelera, DeepL, Insilico Medicine, and Synthesis AI.
The World Future Economy Digital Leaders Summit is another must-attend show with global innovators and influential leaders set to address critical priorities shaping the future of technology. Additionally, GITEX Cyber Valley is this year’s most anticipated cybersecurity showcase – hosted by the UAE Cyber Security Council. With specialists forecasting that damage costs could reach $10.5 trillion annually by 2025, the show will present a power-packed conference agenda as the world’s most influential CISOs, CIOs, and GRC leaders to discuss the risks of global cybercrime.
Leo Chen, Corporate Senior Vice President & President of Enterprise Sales at Huawei, which will be present with a flagship stand at the event, commented on the possibilities unlocked at the event for the industry: “GITEX GLOBAL offers a unique platform for us to engage in meaningful dialogues with industry peers about the trends and perspectives on industrial intelligence. We look forward to sharing our insights and learning from others to explore the endless possibilities of industrial digital and intelligent transformation.”
For more information on GITEX GLOBAL 2024 and to secure your passes, please visit www.gitex.com.
Follow GITEX Global on social media: Facebook |Instagram |X |LinkedIn |Youtube
Hashtag: #GITEXGLOBAL
About GITEX GLOBAL
GITEX GLOBAL, the world’s largest tech event, is returning for its 44th edition at Dubai World Trade Centre from 14-18 October 2024. The 2024 edition will feature 6,500 exhibitors, and welcome 200,000 tech executives from 180 countries, converging the best minds, future-focused government leaders, and the most visionary enterprises and start-ups to scrutinise, challenge, define, and empower the digital agendas of the world. Independently rated globally as the world’s best tech show, GITEX GLOBAL’s continued expansion is amplified by the launch of GITEX EUROPE Berlin, GITEX ASIA Singapore, and GITEX NIGERIA in 2025, as well as the growth of GITEX AFRICA Morocco leading up to its third record-breaking edition. More information: www.gitex.com
About Dubai World Trade Centre
A global business facilitator since 1979, Dubai World Trade Centre (DWTC) is home to the region’s leading purpose-built convention and exhibition centre. DWTC provides a platform for connecting people, products, innovation and ideas from around the world through a dynamic calendar of international trade exhibitions and its own roster of sector leading mega events. As a designated free zone, complemented by award-winning commercial real estate, DWTC plays an integral role in Dubai and the region’s growth story. Since its inauguration, DWTC has hosted over 6,000 events, with an estimated economic output of AED 248 billion, attracting over 38 million business visitors to Dubai.
Photo – https://mma.prnewswire.com/media/2529327/GITEX_GLOBAL_2024.jpg
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BERLIN, Oct. 12, 2024 /PRNewswire/ — The 14th InnoTrans took place in Berlin, Germany from September 24 to 27. The theme of the event is “The future of mobility”. At this trade fair, with a focus on digital and intelligent transformation trends in rail transportation, Huawei showcased innovative applications of FRMCS(Future Railway Mobile Communication System), AI, cloud computing, IoT, and other cutting-edge technologies in the rail industry.
Railway, as a complex and huge system that always puts safety first, needs a unified digital and intelligent foundation alongside an industry ecosystem that consists of partners specializing in diverse domains to go digital and intelligent.
Jacky Wang, Vice President of Smart Transportation BU, Huawei, said that the global rail transportation industry is striding toward an era of broadband, cloud, and intelligence. “Aligning with this trend, Huawei has launched a One Cloud, One Network, Multi-Hub Solution to help the railway industry address challenges in network bandwidth, information system integration, and digital and intelligent transformation.”
Leveraging large models, AI, big data, and intelligent algorithms, this solution promotes intelligent upgrades across a wide range of professional domains, including train operation, locomotive, rolling stock. The goal is to help customers build safe, efficient, and green integrated transportation hubs, improving overall railway transportation quality and efficiency.
Jacky Wang emphasized that the reliable FRMCS features high bandwidth, wide coverage, and low latency, and is crucial for implementing broadband across rail transportation. He went on to explain that migrating services to the cloud is becoming increasingly popular as it allows for centralized use of IT resources and unified O&M, which can reduce investment costs.
“Big data and AI technologies tailored to specific scenarios will enhance the value of data, bolster service security, and increase efficiency in production management,” said Jacky Wang.
Currently, the solution has been deployed in various service scenarios like intelligent freight train inspection, intelligent scheduling in EMU depots, and smart railway perimeter detection, resulting in substantial benefits. Huawei’s scenario-specific solutions and partners are going global, too. They are continuously addressing the challenges faced by railway customers and generating value for the industry.
Up to now, Huawei has served more than 300 urban rail lines across 70 cities and more than 180,000 km of railways worldwide.
View original content:https://www.prnewswire.co.uk/news-releases/huawei-showcases-intelligent-technologies-at-innotrans-2024-302274504.html
STOCKHOLM, Oct. 11, 2024 /PRNewswire/ — The following representatives of ASSA ABLOY AB’s shareholders will be members of the Nomination Committee for the 2025 Annual General Meeting:
– Johan Menckel, Investment AB Latour, Chairman of the Nomination Committee
– Mikael Ekdahl, Melker Schörling AB
– Marianne Nilsson, Swedbank Robur Fonder
– Yvonne Sörberg, Handelsbanken Fonder
– Carina Silberg, Alecta
The Chairman of the Board, Johan Hjertonsson, has been co-opted to the Nomination Committee.
The Nomination Committee shall prepare proposals for the Annual General Meeting in 2025 regarding the election of Chairman of the General Meeting, members of the Board of Directors, Chairman of the Board, Vice Chairman of the Board, auditor, fees for the members of the Board including division between the Chairman, the Vice Chairman and the other Board members as well as fees for committee work, fees to the company’s auditor and, if necessary, changes to the instructions for the Nomination Committee.
The Annual General Meeting will be held on 23 April 2025, in Stockholm, Sweden.
Shareholders who wish to submit proposals to the Nomination Committee should send an email to [email protected].
For more information, please contact:Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72 Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
This information was brought to you by Cision http://news.cision.com
https://news.cision.com/assa-abloy/r/nomination-committee-for-the-assa-abloy-2025-annual-general-meeting,c4050379
The following files are available for download:
https://mb.cision.com/Main/7333/4050379/3050532.pdf
Press release (PDF)
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