21.7.2005: Meldung: Gambro: Six month report January-June 2005

Revenues up 6% currency adjusted to MSEK 6,967
EBITDA at MSEK 1,394 (1,066), EBITDA margin 20.0% (16.1%)
Operating cash flow at MSEK 206 (92), excluding currency effects 671 (167)
Net income MSEK 1,444 (-1,526), excluding nonrecurring MSEK 1,036 (655), MacGREGOR (MSEK 408, Q1-05) and Department of Justice settlement (MSEK -2,181, Q2-04).
Earnings per share at SEK 4.14 (-4.54), excluding nonrecurring items 2.95 (1.79)
Agreement for distribution and promotion of HD monitors and related disposables entered with Baxter (after balance sheet date)
Outlook revised for Gambro BCT revenue growth: 12-14% expected for 2005, up from 10-12% due to strong performance in the first six months of 2005
Second quarter highlights:
Revenues for the quarter showed currency adjusted growth of 7%. Gambro BCT and Gambro Healthcare International posted strong currency adjusted growth at 15% and 13% respectively. Gambro Renal Products growth reached 4% currency adjusted. Revenue development in Asia and rest of the world was strong at 14% currency adjusted growth. EBITDA margin for the group increased to 21.0% (16.0%). The development was driven by improvements in all business areas, Gambro Renal Products 20.4% (19.9%), Gambro BCT 32.8% (29.6%) and Gambro Healthcare International 17.6% (16.7%).

Net debt increased by MSEK 1,104 compared to the first quarter 2005. Currency effects increased net debt by MSEK +1,337 (-83). Operating cash flow improved to MSEK 295 (193), excluding currency effects MSEK 598 (106).

"The strong growth momentum continues in all business areas, and the profitability has been lifted to a higher level. Business development activities continue and important steps have been taken including the distribution and promotion agreement with Baxter, and the Gambro BCT agreement with American Red Cross that will support future growth for Gambro." said S?ren Mellstig, Gambro President and CEO.

The full report including tables can be downloaded from the following link:

Gambro is a global medical technology and healthcare company with leading positions in renal care - services and products - and blood component technology. Gambro Healthcare is a provider of kidney dialysis services. Gambro Renal Products develops and supplies hemodialysis, peritoneal dialysis and acute dialysis products, therapies and services. Gambro BCT is the market leader in separation and handling of blood components.

Fredrik Dalborg
Director, Investor Relations
Tel: +46 8 613 65 84
Fax: +46 8 611 57 31
Cell phone: +46 73-3666 584
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