Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

Home > Press > Alltracel Releases 2006 Full Year Preliminary Results

Alltracel Pharmaceuticals Plc., ("Alltracel", or "the Company"), (AIM:AP.L), the
medical technology company focused on the Woundcare, Oralcare and
Cardiovascular Health markets, today announces its preliminary results for
the year ended 31 December 2006.

Alltracel Releases 2006 Full Year Preliminary Results

DUBLIN and LONDON | Posted on April 13th, 2007

- Turnaround in profitability with a first time full year positive
EBITDA of EUR1.2M versus a loss of EUR1.1M in 2005

- Significant growth in gross margin percentage up 4 points to 39%
driven by the commencement of first technology license revenue in the final

- Continued strong oral care trade performance with business wins in
all major markets and advanced discussions on potential M&A activity

- Successful development and commercialisation of patented Nanofibre
technology and securing of first license revenue via Nanopeutics(TM)

- Significant technological and commercial progress on proprietary PAGA
science leading to new market entry in CVH and Cosmeceuticals markets in

Financial Highlights:

- First year of positive EBITDA achieved, operating profit increased
and continued revenue growth with margin improvement:

- 2006 EBITDA of EUR1.2M positive versus EBITDA loss of EUR1.1M in 2005

- 2006 Operating profit of EUR315k versus operating loss of EUR1.7M in

- 2006 GM% of 39% versus 35% in 2005

- 2006 revenue of EUR20.1M versus EUR19.2M in 2005

- 2006 closing cash balance of EUR3.0M

Operating Highlights:

- Significant scientific breakthroughs in nanofibre technology for both
proprietary PAGA and other technologies, the establishment of the
Nanopeutics(TM) subsidiary and securing of first revenues:

- Following successful nanofibre trials and development work with
technology partners Elmarco and the University of Liberec; Nanopeutics(TM)

- a specialist subsidiary dedicated to the commercialisation of
Nanospider(TM) technology for the global woundcare and subsequently
specialist healthcare markets - was established.

- Nanopeutics(TM) consequently agreed a license bearing exclusive
nanotechnology development partnership with a global leader in professional
woundcare. This concept development project is ahead of schedule and the
successful conclusion to the development work is expected to lead to an
exclusive global royalty bearing license and supply agreement for
Nanospider(TM) based technology and specialist products and related
services for the professional sector.

- Commercial negotiations with this global leader have now commenced
and an announcement will be made to the market should these negotiations
successfully conclude.

- Nanopeutics(TM) has also signed an exclusive technology and product
concept development agreement with HemCon Medical Technologies Inc., the
haemorrhage control market leaders in military markets.

- Other partnership negotiations on similar exclusive concept
development agreements are ongoing with existing companies in the global
consumer woundcare and the global blood filtration markets.

- Technological breakthroughs in anti-microbial and healing properties
leading to the 2007 launch of Phytopeutics(TM) Dermal Health Technology for
the personal care cosmeceuticals market:

- Following earlier preclinical trials confirming wound and dermal
healing properties in a number of finalised product delivery systems and a
subsequent range of successful specialist dermal technology tests Alltracel
is developing a specialist dermal healing technology for the cosmeceutical
market. This proprietary technology covers a full range of dermal health
solutions for non traumatised skin; from anti-microbial for younger skin to
collagen expression for older skin and will be marketed under the
Phytopeutics(TM) technology brand name.

- Alltracel has already been in partnership discussions with a number
of specialist skin care and cosmeceutical suppliers and customers
internationally. The Company is currently in late stage negotiations with a
global leader in the specialist personal care market for an exclusive
global technology and business development alliance for Phytopeutics(TM)
which is expected to be formalised this quarter.

- Completed successful CVH combination trials and development of a
highly soluble variant and initiation of alliance discussions with North
American trial partner:

- Successful combination trials were completed with both sterol and
statin bio-actives, as was the successful development of a highly soluble
derivative of Alltracel's patented cardiovascular health benefiting

- Subsequent commercialisation negotiations are now in the final stages
with one of the sterol combination trial partners, a North American based
CVH specialist, for the establishment of a technology and business
development alliance to enter the global nutrition market with a range of
patented CVH functional food and bio-active technologies.

- A separate announcement will be made to the market in due course.

- Continued strong organic growth at Westone, the specialist Oral Care

Tony Richardson, Chief Executive Officer, commented:

"2006 has been a watershed year in terms of financial performance,
technology breakthroughs and significant commercial developments. Our 2006
focus was on delivering first time full year profitability through improved
margins and cost controls, developing our proprietary technology to secure
revenue through licensing to large scale global partners in our chosen
markets and driving continued growth in Westone, our specialist oral care
subsidiary. We are pleased to have delivered on these three objectives.

The business reached full year profitability in 2006 for the first
time, in terms of both EDITDA achieving a positive EUR1.2M versus a loss of
EUR1.1M in 2005; as well as in operating profit where the EUR0.3M profit
compared to a loss of EUR1.7M in 2005. This EUR2.0M positive operating
profit swing is a result of both a move to a higher margin license model in
woundcare as well as continued overhead reduction across the business.
Gross margin percentage has grown to 39% for the year versus 35% in 2005
and we will continue to focus on the development of more profitable revenue
streams for our technology.

Our oral care business, Westone, continues to perform well and we have
continued to build on our strong share of the European private label sector
with numerous new business wins from both current and new customers in all
our main markets. We remain strongly committed to this business and are
looking at a number of M&A opportunities in this area.

We had major scientific breakthroughs during 2006 on our proprietary
PAGA technology across all the relevant markets and on a number of
technological platforms including thin film and nanofibre. In particular,
the establishment and immediate performance of our nanofibre specialist
subsidiary Nanopeutics(TM) has been encouraging with our first license
revenue deal secured in professional woundcare and exciting prospects for
significant subsequent revenue flows in professional and in a number of
other woundcare sectors. Securing these type of large scale partnership
deals with global market leaders remains a priority for Nanopeutics(TM) for

In CVH the successful combination trials and development of the soluble
variant of our bio-active has led to advanced commercial negotiations with
a North American based nutritionals company to establish a specialist
alliance to enter the global nutrition market with a range of patented CVH
functional food and bio-active technologies. We are excited by the
potential here and expect to see Alltracel's first revenue flows in the CVH
market in late 2007.

The ongoing technology development work in woundcare, particularly
around the anti-microbial and healing capabilities of m.doc(TM) and its
variants, has produced a major new market opportunity in the growing and
profitable cosmeceutical marketplace. Cosmeceutical efficacy testing and
ongoing discussions with potential suppliers and partners over the past six
months has led to the development of the Phytopeutics(TM) dermal health
technology brand which are now moving to commercialise in 2007. A further
announcement is expected on this move later this quarter. Finally we
strengthened our overall scientific resources and capability through the
appointment of Dr. Pat Fottrell to the Board in May.

Overall it has been a busy year for Alltracel, and we believe the
Company is well positioned with first class patented technologies,
products, partners and people. We have evolved the business model in the
past year to reflect our current stronger proof points on the base
technologies, our highly developed network of research, development and
manufacturing partners as well as our more profitable and collaborative
partnership route to market.

2007 has begun strongly for Alltracel and we expect to continue the
momentum throughout the year through these evolving capabilities as well as
our innovative approach to both science and commercialisation.

We remain confident of continued growth as we continue the transition
to focus on a licence and technology transfer business model rather than
one focused on product revenue alone."


About Alltracel

Alltracel Pharmaceuticals PLC
    Consolidated Profit & Loss Account
                                                    Unaudited     Audited


                                                       2006         2005
                                                       EUR          EUR

    Turnover including share of associate
    turnover                                        20,054,717   19,244,673
    Share of associate turnover                     (168,263)        0
    Group turnover excluding share of
    associate turnover                              19,886,454   19,244,673

    Cost of sales                                  (12,109,070) (12,547,970)

    Gross profit                                    7,777,384    6,696,703

    Selling & Distribution Costs                   (2,705,743)  (3,827,509)
    Administrative Expenses                        (4,756,364)  (4,552,546)

    Operating Profit/ (Loss) - continuing
    operations                                       315,277    (1,683,352)

    Share of Loss in Associate undertaking           (12,190)        -

    (Loss) / profit on disposal of financial
    assets                                             (17)      (148,216)
    Interest receivable                               62,034       81,727
    Interest payable                                (485,880)    (346,646)

    (Loss) on ordinary activities before
    taxation                                        (120,776)   (2,096,487)

    Taxation                                        (519,734)    (122,082)
    Minority Interests                              (968,072)    (751,147)

    Loss for the financial period
    attributable to ordinary shareholders          (1,608,582)  (2,969,716)

    Loss brought forward at the beginning of
    period                                         (19,452,487) (16,543,327)
    Translation                                       86,551       60,556
    Loss carried forward at end of period          (20,974,518) (19,452,487)

    Loss per ordinary share (cent) - basic           (1.36)      (2.76)
    Weighted average number of shares used
    in computing loss per ordinary share -
    basic                                          118,017,325 107,444,635

    Statement of Total Recognised Gains and
                                                    Unaudited    Audited
                                                      2006        2005
                                                       EUR         EUR

    Loss for the financial period                  (1,608,582) (2,969,716)

    Translation differences                          86,551      60,556

    Total Recognised Gains and Losses for
    the financial period                           (1,522,031) (2,909,160)

    Consolidated Balance Sheet

    AT 31 DECEMBER 2006                             Unaudited     Audited

                                                       2006         2005
                                                       EUR          EUR
    Fixed Assets
    Intangible assets                               5,320,146    5,094,644
    Tangible assets                                 1,094,237    1,044,336
    Financial Assets                                1,018,302     917,341
                                                    7,432,685    7,056,321

    Current Assets
    Stocks                                          3,949,456    3,836,664
    Debtors                                         5,376,047    5,184,047
    Cash at bank and in hand                        3,004,437    2,047,679
                                                    12,329,940   11,068,390

    Creditors (amounts falling due within
    one year)                                      (6,679,244)  (7,118,574)

    Net Current Assets                              5,650,696    3,949,816

    Total Assets Less Current Liabilities           13,083,381   11,006,137

    Creditors (amounts falling due after
    more than one year)                            (2,536,782)  (2,418,897)
                                                    10,546,599   8,587,240

    Financed By
    Capital and Reserves
    Called up share capital                         1,619,745    1,347,904
    Share premium account                           28,673,822   25,805,353
    Capital conversion reserve fund                   6,736        6,736
    Other reserve                                     40,350       32,350
    Profit and Loss account - deficit              (20,974,518) (19,452,487)
    Foreign Exchange Reserve                          19,533      (15,730)

    Shareholders' equity - all equity
    interests                                       9,385,668    7,724,126

    Minority Interest                               1,160,931     863,114

                                                    10,546,599   8,587,240

    Consolidated Cash Flow

    FOR THE YEAR ENDED 31 DECEMBER 2006              Unaudited    Audited

                                                       2006        2005
                                                        EUR         EUR

    Net Cash Inflow/ (Outflow) From
    Operating Activities                             (12,389)   (2,206,708)

    Returns on Investments and Servicing of
    Interest received                                 62,034      81,727
    Interest paid                                    (485,880)   (314,296)
    Paid to minority interest                        (716,852)   (751,147)
                                                    (1,140,698)  (983,716)
    Taxation Paid                                    (102,142)   (362,687)

    Capital Expenditure and Financial
    Payments to acquire tangible fixed
    assets                                           (360,985)   (534,702)
    Sale of tangible fixed assets                      3,815      39,812
    Payments to acquire intangible fixed
    assets                                           (445,862)   (591,903)
                                                     (803,032)  (1,086,793)
    Acquisations and disposals
    Purchase of subsidiary undertaking              (1,553,216) (4,469,703)
    Cash acquired with subsidiary                        0       2,583,454
    Net cash outflow for acquisation                (1,553,216) (1,886,249)

    Cash Outflow Before Management of Liquid
    Resources and Financing                         (3,611,477) (6,526,153)

    Management of Liquid Resources
    Disposal of current asset investments                0        539,858

    Issue of shares                                  3,343,983    58,034
    Share issue expenses                             (203,673)     (770)
    New secured Loans                                2,789,766   4,232,321
    Repayment of Loans                              (1,201,191)  (600,895)
    Capital element of finance lease repaid          (160,650)   (38,530)
                                                     4,568,235   3,650,160
    Increase/ (Decrease) in cash                      956,758   (2,336,135)

    1. Called Up Share Capital                        Unaudited    Audited

                                                           2006       2005
                                                            EUR        EUR
    50,000,000,000 ordinary shares of EUR0.        625,000,000 625,000,000
    125 each

    As at 31 December 2005
    129,579,598 shares of EUR0.125 each              1,619,745

    As at 31 December 2005
    107,832,325 shares of EUR0.125 each                          1,347,904

    2. Share Premium                                 Unaudited     Audited
                                                          2006        2005
                                                           EUR         EUR

    Balance at beginning of period                  25,805,353  23,899,356
    Premium on shares issued during the period       3,072,142   1,947,801
    Share issue expenses                              (203,673)    (41,804)
    Balance at end of period                        28,673,822  25,805,353

    3. Reconciliation of Movement in Shareholders'  Unaudited      Audited
    Funds                                                2006         2005
    Group                                                 EUR          EUR

    Shareholders' funds at beginning of period      7,724,126    8,631,665
    Loss for the year                              (1,608,582)  (2,969,716)
    Transfer to Other reserves                         43,263       32,350
    Translation                                        86,551       44,826
    Net proceeds from issue of share capita         3,140,310    1,985,001
    Shareholders' funds at end of period            9,385,668    7,724,126

    4. Reconcilation of operating profit to net cash flow from operating
                                                    Unaudited      Audited
                                                         2006         2005
                                                          EUR          EUR

    Operating Profit / (Loss)                         315,277   (1,683,352)
    Depreciation                                      498,181      404,369
    Amortisation of Intangibles                       124,860      127,029
    Amortisation of Goodwill                          232,921      188,000
    Share in Loss of Associate                         12,190          -
    Gain on sale of fixed asset                           (17)     (19,132)
    Increase in stocks                               (112,792)  (1,216,817)
    Increase/ (Decrease) in debtors                  (191,998)   1,254,537
    (Decrease)/ Increase in creditors              (1,068,105)  (1,261,342)
    Movement in provisions                            177,095          -

    Net cash outflow from operating activities        (12,389)  (2,206,708)

    5. Analysis of Net Funds
                                                      Non Cash
                             01/01/2006   Cashflow    movement   31/12/2006

    Cash                      2,047,679     956,758               3,004,437
    Total                     2,047,679     956,758       0       3,004,437

    Bank & third party loans (3,631,426) (1,588,626)             (5,220,052)
    Finance Leases             (326,066)    160,649   (317,084)    (482,501)
                             (1,909,813)   (471,219)  (317,084)  (2,698,116)


1. The results for the year ended 31 December 2006 are extracted from the Company's Draft statutory financial statements which will be sent to shareholders upon finalisation. The above preliminary announcement constitutes abbreviated group accounts under regulation 40 of the European Communities Group Accounts Regulations 1992. The abbreviated accounts do not constitute group accounts, copies of which are required by law to be annexed to the annual return of the company. Full accounts for the year ended 31 December 2006, upon which the auditors have not yet issued their opinion, have accordingly not yet been filed with the Registrar of Companies. Full accounts for the year ended 31 December 2005 containing an unqualified opinion have been delivered to the Registrar of Companies.

2. These financial statements have been prepared under Irish GAAP on the basis of the policies as set out in the financial statements for the year ended 31 December 2005 published in Alltracel's 2005 annual report.

3. Earnings per ordinary share is computed by dividing the loss on ordinary activities after taxation of EUR1,608,582 (2005: EUR2,969,716) for the financial year by the weighted average number of ordinary shares in issue of 118,017,235 (2005: 107,444,635). Diluted earnings per share are not disclosed as it is anti-dilutive.

The results announcement was approved by the Board of Directors of Alltracel plc on 12 April 2007.

Notes to Editors

Alltracel, (AIM: AP.L) ( ) the Healthcare Innovation group is focused on taking proprietary technology from research right through to commercialisation in the global healthcare market.

Alltracel Pharmaceuticals Plc., ("Alltracel") was founded in 1996 and is a public company which listed on London's Alternative Investment Market in July 2001.

With corporate headquarters in Dublin, Ireland; Alltracel has a commercial office in London, England; R&D subsidiary in the Czech Republic and manufacturing facilities in Shenzhen, China. Alltracel also has a wide network of research, development and manufacturing partners in Europe, Asia and North America.

Alltracel operates via two main divisions Alltracel Healthcare Group and Alltracel Healthcare Technologies:

Alltracel Healthcare Technologies is focused on the commercialisation effort behind proven innovation technologies and services for the global healthcare market. Alltracel Healthcare Group has a range of stake holdings, joint ventures and wholly owned business units operating in a variety of healthcare categories including Wound Care, Oral Care, Cardiovascular Health.

- Alltracel's specialist Oralcare subsidiary Westone ( )is headquartered in London, England and is the leading contract supply and manufacturing partner for the European private label inter-dental market. Westone also partners with a number of leading oral care brandsinternationally.

- Alltracel's specialist Nanotechnology subsidiary Nanopeutics(TM) ( ) is headquartered in Liberec in the Czech Republic and is dedicated to the commercialisation of Nanospider(TM) technology for the global healthcare market.

Alltracel Healthcare Technologies specialises in innovation, research, development and the deployment of proprietary technology in the global healthcare market. Alltracel Healthcare Technologies has established a substantial intellectual property portfolio with patents in a number of healthcare applications areas.

m-doc(TM) is a trademark of Alltracel Pharmaceuticals PLC.

Nanospider(TM) and Nanopeutics(TM) are trademarks controlled by Nanopeutics s.r.o.

Cautionary Statement Regarding Forward-Looking Statements

This announcement contains forward-looking statements. We have based these forward-looking statements on our current plans, expectations and projections about future events. Words like; "intend", "expect", "seek", "will", "plan", "could", "may", and similar expressions often identify forward-looking statements but are not the only ways of doing so. Forward-looking statements involve inherent risks and uncertainties arising from factors outside of our control, such as; financial conditions, regulatory developments, technological developments, activities of our competitors and other factors. We caution you that such factors may cause actual results to materially differ from those contained in forward-looking statements. The forward-looking statements are made only as of the date of this announcement and we do not intend, except as required by law, to update any forward-looking statements to reflect new information or subsequent events or circumstances.

For more information, please click here

Dublin: Denise Cronin
Alltracel: +353-1-235-2162

London: Deborah Scott
Financial Dynamics: +44-(0)207-831-3113

New York: Sean Leous
Financial Dynamics: +1-212-850-5626

Copyright © PR Newswire Association LLC.

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press


Researchers identify structural changes that occur in enveloped viruses before invading host August 21st, 2018

Novel nanoparticle-based approach detects and treats oral plaque without drugs August 17th, 2018

Research brief: UMN researchers use green gold to rapidly detect and identify harmful bacteria August 15th, 2018

New technology can detect hundreds of proteins in a single sample: Improvement of barcoding technique offers cost-effective alternative to current technology August 13th, 2018


Researchers identify structural changes that occur in enveloped viruses before invading host August 21st, 2018

Magnetic antiparticles offer new horizons for information technologies: Computer simulations reveal new behavior of antiskyrmions in gradually increased electric currents August 21st, 2018

Energy-efficient spin current can be controlled by magnetic field and temperature: SCMR effect simplifies the design of fundamental spintronic components August 20th, 2018

Color effects from transparent 3D printed nanostructures: New design tool automatically creates nanostructure 3D print templates for user-given colors Scientists present work at prestigious SIGGRAPH conference August 18th, 2018

Financial Reports

Nanometrics to Announce Second Quarter Financial Results on July 31, 2018 July 12th, 2018

180 Degree Capital Corp. to Provide Live Remote Access to Its Annual Meeting of Shareholders on June 12, 2018 June 12th, 2018

Nanometrics Reports First Quarter 2018 Financial Results: Record Revenues, Gross Margin and Earnings; Outlook Strengthens for FY 2018 May 1st, 2018

Nanometrics to Announce First Quarter Financial Results on May 1, 2018 April 10th, 2018

The latest news from around the world, FREE

  Premium Products
Only the news you want to read!
 Learn More
Full-service, expert consulting
 Learn More

Nanotechnology Now Featured Books


The Hunger Project