- 2015 results that reflect a ramp-up in activity and strong sales dynamic.
- Reinforcement of sales and operational teams in Europe and the United States to accompany growth in 2015 and prepare for next development milestones.
MEDIAN Technologies (ALMDT), a medical imaging solutions and service provider for image interpretation and management in oncology, has published its yearly results for 2015.
The Board of Directors of MEDIAN Technologies met on the 7th of April 2016 and approved the consolidated financial statements for 2015. (The company presents from now on its consolidated financial statements).
“2015 was marked by a new acceleration in growth linked to clinical trials and the ramp-up of the company’s teams in line with its development” said Fredrik Brag, Chairman and CEO of MEDIAN Technologies.
| In €K (audited figures) |
12/31/2015 |
12/31/2014* |
| Revenue from ordinary activities |
3,890 |
1,544 |
| Staff costs |
(5,671) |
(3,852) |
| External costs |
(3,638) |
(1,971) |
| Operating result |
(5,684) |
(4,492) |
| Net financial result |
156 |
22 |
| Net Result – profit or (loss) |
(5,527) |
(4,480) |
*The consolidated financial statements for the financial year ended on the 31st of December 2014 have been restated (See Annual financial report – Consolidated statements – notes annexed)
2015 results: Increase in headcount to accompany new growth and increase in equity
MEDIAN Technologies’ turnover amounted to €3.9m in 2015, a major increase on 2014 which is primarily linked to the execution of clinical trial contracts.
The company also adjusted its structure to accommodate forecasts of a sharp increase in growth with a new wave of recruitments in Europe and the United States. Recruitments will fill new positions within the company’s operations, sales and marketing teams. This increase in MEDIAN Technologies’ headcount is reflected in the company’s staff costs. External costs increased in line with the growth in turnover and the costs linked to new order intake.
Including these items, the Company reported an operating loss of €5,684k and net loss of €5,527k, which is consistent with its strategic roadmap.
At December 31, 2015, MEDIAN Technologies had a solid balance sheet and €30.3m in net cash. Equity amounted to €26.2m following the capital increase of €19.8m carried out last July.
Outlook: robust sales dynamic
MEDIAN Technologies has a stronger presence on the clinical trials market which means that the company can pursue its expansion policy, targeting new clients amongst “Big Pharma” and biotech companies.
At December 31, 2015, its order backlog* stood at €21.3m against €11m on December 31, 2014. As a reminder, MEDIAN Technologies’ order backlog amounted to €18.26m on June 30, 2015.
The annual financial report is available on the company website at mediantechnologies.com
Our next update
Publication of the half-year results – October 12, 2016
(*) Order backlog refers to customer orders that have been received but not yet completed.