Skanditek's Year-End Release 1999.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--Feb. 24, 2000 Net turnover for the year amounted to MSEK MSEK Meyer, Suozzi, English & Klein (New York law firm) MSEK Million Swedish Kroner 121.1 (36.1) of which newly acquired companies accounted for MSEK 88.8. The operating result was a loss of MSEK 2.9 (loss 9.0), after providing net depreciation of MSEK 19.3 (0) on goodwill including associate companies. Income after financial net amounted to MSEK 3.4 (loss 8.3) New name and significantly expanded business Industriforvaltnings AB Skandigen changed its name on Jan. 25, 2000 to Skanditek Industriforvaltning AB. The company's shares are now listed on the OM Stockholm Exchange's "O" list under the abbreviated name STEK. The change of name is a consequence of the change in the nature of the business brought about by the acquisition of the privately owned "KBB KBB Kelley Blue Book KBB Koninklijke Bijenkorf Beheer KBB Kulak Burun Bogaz (Turkish: Ear, Nose & Throat) KBB Kelly Bell Band KBB Kim Basinger Band KBB Kentucky Backroads Band (band) companies" in return for shares in January 1999. Through the acquisition, the business within biotechnology was broadened to also comprise investments within information technology, contract manufacturing of electronics and technically advanced industrial components and qualified services. Skanditek is today an industrial holding company that develops expanding companies. As active owners, Skanditek contribute industrial and financial competence at board and management level. In so doing, long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. value is generated for shareholders and partners. Consolidated net turnover and result The Group's net turnover in 1999 amounted to MSEK 121.1. Newly acquired companies accounted for MSEK 88.8. The net turnover in 1998 amounted to MSEK 36.1 and was entirely attributable to Fermentech Medical. The consolidated result was a net loss of MSEK 4.3 (loss 8.3), which corresponds to a loss of SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 0.08 per share (loss of 0.85 on the number of shares in issue at the time). The proceeds from the sale in August of shares corresponding to 10 per cent of Sibia Neurosciences Inc. amounted to MSEK 69.3, and realized a capital gain of MSEK 21.5. The acquisition of the KBB companies brought goodwill of MSEK 97.2 onto the books. This goodwill item will be written off over five years, giving an annual expense of MSEK 19.4. Together with the reversal of negative goodwill and write-downs in the excess value of associated companies associated company associate n → Partnerfirma f associated company n → società collegata , net depreciation of goodwill of MSEK 19.3 was charged against income. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. information from SPP (1) (Scalable Parallel Processor) A multiprocessing computer that can be upgraded by adding more CPUs. (2) (Standard Parallel Port) The Centronics parallel port that was used on the first PCs. , the Skanditek Group's share of SPP's surplus funds Surplus funds Cash flow available after payment of taxes in a project. amounts to MSEK 3.6. In view of the uncertainty concerning how the allocated funds are to be utilized, they are not taken up in the closing accounts. Parent company The parent company's net turnover for 1999 amounted to MSEK 1.4 (0.2). The parent company's net income for 1999 amounted to MSEK 22.3 (loss 16.0). Group companies The KBB companies were acquired in return for shares in the company in January 1999. The transaction is stated as a reverse acquisition as this gives the fairest picture of the transaction. As a result of the issue the former owners of the acquired companies obtained effective control over Skanditek. Fermentech Medical Ltd reports a net turnover of MSEK 30.5 (36.1) for 1999, and a loss after financial net of MSEK 2.7 (loss 3.0). Skanditek owns 97 per cent of the capital. CMA CMA - Concert Multithread Architecture from DEC. Microdialysis microdialysis, n a technique for measuring extracellular concentrations of substances in tissues, usually in vivo, by means of a small probe equipped with a semipermeable membrane. AB reports a net turnover of MSEK 42.6 (41.4) for 1999, and a loss after financial net of MSEK 5.5 (profit 2.2). Skanditek owns 56 per cent of the capital. Mydata Automation AB reports a net turnover of MSEK 467.1 (400.7) for 1999, and income after financial net of MSEK 14.1 (loss 6.2). Skanditek owns 39 per cent of the capital. Direct and indirect, Skanditek controls 53 per cent of the votes. Following the purchase of further shares on November 26th Mydata's status changed from that of associate company to Group company. 10 per cent of Mydata's annual figures are included in the consolidated income statement consolidated income statement An income statement that combines the income statements of two or more organizations. As with other consolidated statements, a consolidated income statement eliminates any funds owed to or due from firms within the same group. for Mydata as a Group company. For the rest of the year, Mydata is included in the figures for associate companies with Skanditek's share. Associate companies Companies, in which Skanditek owns between 20 and 50 per cent of the votes, are reported as associated companies. Associate companies are included in the accounts using the capital interest method. In previous interim reports, associated companies have been reported using the cost value principle. Brief information on each holding is provided below. In some holdings, the share of votes exceeds the share of capital. Axis AB, which has a split fiscal year, reports a net turnover of MSEK 636.4 for the 1999 calendar year and a loss after financial net of MSEK 9.8. For the fiscal year May 1998-April 1999, the company reports a net turnover of MSEK 559.8 (521.7) and income after financial net of MSEK 0.8 (11.2). Skanditek has an 18 per cent interest in its capital. Beep beep - bell Network AB reports a net turnover of MSEK 8.4 (5.4) for 1999 and a loss after financial net of MSEK 2.6 (loss 2.9). Skanditek owns 38 per cent of the capital. BioNative AB reports a net turnover of MSEK 40.0 (45.0) for 1999 and a loss after financial net of MSEK 1.2 (0). Skanditek owns 24 per cent of the capital. H.Lunden Kapitalforvaltning AB reports a net turnover of MSEK 9.2 (17.5) for 1999 and income of MSEK 3.3 (17.2) after financial net. Skanditek has a 14 per cent interest in the capital. InRo Biomedtek AB reports a net turnover of MSEK 0.5 (0.6) for 1999 and income after financial net of MSEK 0.3 (0.2). Skanditek owns 33 per cent of the capital. PartnerTech AB reports a net turnover of MSEK 807.4 (585.6) for 1999 and income after financial net of MSEK 62.5 (25.1). Skanditek owns 25 per cent of the capital. PartnerTech is listed on the OM Stockholm Stock Exchange's "O" list. PBK PBK Paperback (book) PBK Phi Beta Kappa PBK Pembroke (postal locality, Malta) PBK Pseudophakic Bullous Keratopathy (cornea disorder) Outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. AB reports a net turnover of MSEK 44.0 (32.3) for 1999 and income after financial net of MSEK 4.0 (0.3). Skanditek owns 40 per cent of the capital. Plenia Sweden AB, which has a split fiscal year, reports a net turnover of MSEK 5.4 for the 1999 calendar year and a loss after financial net of MSEK 33.9. For the fiscal year July 1998-June 1999, the company reports a net turnover of MSEK 2.1 and a loss after financial net of MSEK 37.9 Skanditek owns 35 per cent of the capital. Svenska Finanstipset AB, which was formed in 1999, reports no net turnover for 1999 and a loss after financial net of MSEK 1.7. Skanditek owns 38 per cent of the capital. Vellinge Electronics AB, which has a split fiscal year, reports a net turnover of MSEK 426.0 for the 1999 calendar year and income after financial net of MSEK 33.3. For the fiscal year May 1998-April 1999, the company reports a net turnover of MSEK 402.5 (329.3) and income after financial net of MSEK 31.0 (27.5). Skanditek owns 37 per cent of the capital. Other portfolio companies Arkivator AB reports a net turnover of MSEK 549.8 (511.1) for 1999 and income after financial net of MSEK 100.6 (101.1). Skanditek owns 14 per cent of the capital. Arkivator is listed on the OM Stockholm Stock Exchange's "OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). " list. Arkivator has in January 2000 acquired LGP LGP Linux Game Publishing LGP Low Ground Pressure LGP Local Governance Program (Iraq) LGP LG.Philips LGP Lysosomal Membrane Glycoprotein LGP Linux Global Partners LGP Left-Green Alliance (Iceland) through a non-cash issue after which Skanditek owns 10 per cent. The Chimney Pot chimney pot n. A short, usually earthenware pipe placed on the top of a chimney to improve the draft. AB reports a net turnover of MSEK 35.6 (27.4) for the fiscal year July 1998- June1999 and income after financial net of MSEK 6.1 (2.4). At the closing date, Skanditek owned just under 20 per cent of the capital. TPC (Transaction Processing Performance Council, San Francisco, CA, www.tpc.org) An organization devoted to benchmarking transaction processing systems. In order to derive the number of transactions that can be processed in a given time frame, TPC benchmarks measure the total performance of Security AB reports a net turnover of MSEK 1.7 for the period January-September 1999 and a loss after financial net of MSEK 4.1. Skanditek owns 17 per cent of the capital. TPC Security is listed on Aktietorget. Liquidity, equity/assets ratio and number of shares At the closing date, the Group's liquid funds amounted to MSEK 97.0 (29.5). In addition, short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. investments in listed shares amounted to MSEK 56.7 (0). The Group's interest-bearing liabilities amounted to MSEK 5.0 (7.6). The Group's equity/assets ratio was 67 (80) per cent. The parent company's equity/assets ration ration a fixed allowance of total feed for an animal for one day. Usually specifies the individual ingredients and their amounts and the amounts of the specific nutriments such as carbohydrate, fiber, individual minerals and vitamins. was 98 per cent (94). Equity per share was SEK 8.82 (10.20). The proceeds of an issue of six million shares on July 1st amounted to MSEK 136.1 after issue expenses. Following the issue, the number of shares amounts to 55,043,920. Events after the close of the fiscal year A declaration of intent with biotech bi·o·tech n. Informal Biotechnology. biotech Noun short for biotechnology Noun 1. company Vitrolife AB from Gothenburg concerning a merger between Vitrolife and Skanditek's Scottish subsidiary Fermentech Medical Ltd. was announced on February 9th . The merger will take the form of Vitrolife acquiring Fermentech in return for shares. A final decision will be taken at Vitrolife's Extra-ordinary General Meeting in March. Vitrolife is planning a flotation flotation or froth flotation Most widely used process for extracting many minerals from their ores. The method separates and concentrates ores by altering their surfaces so that they are either repelled or attracted by water. during the year. The acquisition of further shares in The Chimney Pot AB in January has brought Skanditek's holding to 40 per cent. Dividend The Board recommends that the company for the 1999 fiscal year will pay no dividend. Annual General Meeting The Annual General Meeting will be held at 4 p.m. on Thursday, April 13, 2000 on the premises of Svenska Lakaresallskapet (Swedish Medical Society), Klara Ostra Kyrkogata 10, Stockholm. Future information The annual report is expected to be mailed to shareholders by no later than March 28. After this, it will be available at the company's head office and on the website in pdf format. Interim reports are planned for release on the following days: Quarterly report, Thursday, May 11 Half-yearly report, Wednesday, Aug. 30 Nine-monthly report, Wednesday, Nov. 8 Reports and press releases are published in English and Swedish. Stockholm, Feb. 24, 2000 SKANDITEK INDUSTRIFORVALTNING AB (publ) The Board This report has not been subject to a general examination by the company's auditor. Please visit http://www.bit.se for further information The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/02/24/20000224BIT00940/bit0001.doc The full report http://www.bit.se/bitonline/2000/02/24/20000224BIT00940/bit0002.pdf |
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