Highlights Medicover January – March 2005

5/3/2005 6:00 AM EST

- Revenue for the first quarter ending 31 March 2005 amounted to € 13.2 million (€ 9.7 million), representing 36 percent revenue growth versus last year. Excluding the acquisition effect, the revenue growth was 33 percent.

- Constant currency revenue growth amounted to 21 percent and excluding acquisitions, 19 percent.

- Membership growth was robust with 11,700 (5,000) new members for the quarter, bringing total members to 151,600 (122,000).

- The operating profit before depreciation and amortization (EBITDA) for the quarter amounted to
€ 1.1 million (€ 0.6 million) or 8.6 percent (6.5 percent) of revenue.

- The operating profit (EBIT) for the quarter amounted to € 0.3 million (loss € 0.2 million).

- The profit after tax for the quarter amounted to € 36,000 (loss € 0.2 million), equivalent to a profit per share of € 0.003 (loss € 0.014) and the diluted profit per share was € 0.003 (loss € 0.014).

- Net cash inflow from operating activities after tax payments was € 0.3 million (outflow € 0.1 million) for the quarter.

- In April, we announced an additional acquisition in the Polish laboratory market and a proposed rights issue of about SEK 107 million to finance further strong expansion.



Investor Relations Contacts

Fredrik Rågmark
Managing Director
Phone: +32 2 357 55 77
E-mail:  

Joe Ryan
Financial Director
Phone: +32 2 357 55 77
E-mail: