Interim report for the period January - September 2013

Third quarter July – September
2013

  · Group net sales in the third quarter 2013 decreased by 3 percent to 103.4
MSEK (107.1). At comparable exchange rates sales increased by 1 percent.
  · Operating profit in the quarter amounted to 7.6 MSEK (8.9).
  · The result after tax amounted to 6.9 MSEK (3.7).
  · Earnings per share amounted to 0.10 SEK (0.05).
  · The cash flow from operating activities amounted to 14.1 MSEK (12.2).
  · Net cash at September 30 amounted to 80.5 MSEK, compared to 82.7 MSEK at
June 30.

Nine month period January – September 2013


  · Group net sales in the first nine months 2013 decreased by 7 percent to
323.0 MSEK (349.0). At comparable exchange rates sales decreased by 1 percent
compared to the corresponding period last year.
  · Operating profit in the nine month period amounted to 25.8 MSEK (30.3).
  · The result after tax amounted to 22.9 MSEK (24.7).
  · Earnings per share amounted to 0.34 SEK (0.34).
  · The cash flow from operating activities excluding discontinued operations
amounted to 36.4 MSEK (37.5).
  · Net cash at September 30 amounted to 80.5 MSEK, compared to 165.4 MSEK at
December 31, 2012.
  · Dividends to shareholders were paid in May to the amount of 34.9 MSEK
(29.3).
  · At the end of the reported period Biotage had a holding of 4,398,685 own
shares acquired under the repurchasing program decided at the 2013 Annual
General Meeting.

Comments by CEO Torben Jörgensen

Continued budget restrictions and uncertainties regarding the future affect the
willingness to invest among many of our customers. Not least does this apply to
the academic world, particularly in the US, where the uncertain political
situation contributes to the deteriorating business climate. Despite this, our
underlying operations grew by one percent compared to the corresponding quarter
last year.

The currency development continues to be unfavorable for Biotage, primarily the
strong Swedish krona and a weak Japanese yen. A comparison of the sales reported
in the quarter with the corresponding period last year shows a three percent
decrease, but at comparable exchange rates the underlying business grew by one
percent. The currency effect at a comparison of sales between the third quarters
in 2012 and 2013 amounts to -4.5 MSEK and to no less than -24.1 MSEK for the
nine month period.

Overall we see the weakest sales development in India and China. Otherwise the
lack of sales growth is relatively evenly distributed between the various
geographic regions.

On the positive side I note that we emerged from the quarter with a larger order
book than normally, partly due to orders that had not yet been delivered at the
end of the period, partly due to sales in countries where we only deliver
against bank documents and where these documents were not in place at the end of
the quarter.

During the period we have carried out a large number of demonstrations of our
recently launched Flash and Mass detector instrument Isolera™ Dalton. The system
is appreciated in the market and we are hopeful that we can translate the great
interest into sales. We have also managed to win important customers for our
consumables in the Purification product area. The strategically important
product area Sample Prep grew in the quarter and contributes to an increase in
the relative share of consumables in our sales. In the product area Industrial
Resins we have closed an agreement concerning continued collaboration with one
of our existing customers. The contract runs until the end of 2015 and concerns
development work as well as deliveries of products for continued evaluation.

The operating margin amounts to 56.6 percent for the quarter as well as for the
nine month period, and on a rolling 12 month basis we achieve 57.4 percent.
During the quarter instrument sales contributed 41 percent of the sales and
consumables 59 percent. On a rolling 12 month basis this relation is 42 and 58
percent, respectively.

The transfer of the production of the product lines TurboVap® och RapidTrace®
from the contract manufacturer in the US to our own factory in Cardiff, Wales
was successfully completed during the quarter. The transfer led to non-recurring
costs to the amount of 0.5 MSEK in the quarter. Our intention is to further
develop this production unit.

For further information, please contact:
Torben Jörgensen, President and CEO, phone: +46 707 49 05 84
Erika Söderberg Johnson, CFO, phone: +46 730 50 80 56

The information in this press release is of the kind that Biotage AB (publ) is
required to make public according to the Financial Instruments Trading Act. The
information was released for publication at 08.30 on October 25, 2013.
About Biotage
Biotage offers solutions, knowledge and experience in the areas of analytical
chemistry, medicinal chemistry, separation and purification. The customers
include pharmaceutical and biotech companies, food producers and leading
academic institutions. The company is headquartered in Uppsala and has offices
in the US, UK, China and Japan. Biotage has approx. 290 employees and had sales
of 463 MSEK in 2012. Biotage is listed on the NASDAQ OMX Nordic Stockholm stock
exchange. Website: www.biotage.com