LifeWatch AG

EQS-Adhoc: LifeWatch AG: LifeWatch reports 2016 Financial Results


EQS Group-Ad-hoc: LifeWatch AG / Key word(s): Final Results
LifeWatch AG: LifeWatch reports 2016 Financial Results

17-March-2017 / 17:45 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
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LifeWatch reports 2016 Financial Results

Zug/Switzerland, March 17, 2017 - LifeWatch AG (SIX Swiss Exchange: LIFE), a
leading provider of medical solutions and remote diagnostic monitoring services
in the digital health market, today reports its 2016 financial results.

In 2016 revenue was USD 113.8 million representing an increase of 6.8% over
prior year's adjusted revenues. Gross profit for the period was USD 56.7
million, or 49.8% of revenue resulting in an EBITDA of USD 2.1 million.

While the revenue in 2016 was modestly higher than the estimated growth in the
Company's market segment, the Company's profitability was negatively impacted by
two large legal settlements, one-time costs associated with the discontinuation
of the Vital Signs Patch (VSP) and International Normalized Ratio (INR)
initiatives as well as the discontinuation of internal device development and
closure of subsidiaries in Japan and India. These strategic decisions
facilitated LifeWatch's transition to a pure-play service provider and have
resulted in a nimbler organization which LifeWatch believes will yield improved
operating results for the Company in 2017 and beyond.

In 2016, on a non-adjusted basis, EBIT was a negative USD 7.7 million due to
increases in non-capitalized R&D, sales and marketing, general and
administrative costs, increased legal expenses and costs attributable to the
establishment of a joint-venture in Turkey.

After adjusting for one-time costs and write-offs, EBIT and EBITDA would result
in approximately USD 4 million and USD 14 million, or 4% and 12% of revenue,
respectively.

Outlook 2017
Following the successful capital increase and the settlement of the major legal
cases in 2016, LifeWatch's efforts are focused on revenue growth and sustained
profitability.

The completion of several in-house technology projects is anticipated to improve
the efficiency of operations, increase gross profit and contribute to expansion
in profitability. Several additional growth initiatives including the
commencement of business in Turkey as well as the collaboration with GE
Healthcare are also expected to contribute to LifeWatch's business.

2017 has started well and indications are positive. LifeWatch anticipates
achieving double-digit revenue growth and positive operating results even after
taking into account the costs associated with solicitation of potential
acquirers following the public offer made by Aevis Victoria SA and investments
into the Turkish joint venture.


Key Figures for Fiscal Year 2016(unaudited, in USD millions)

                               FFY 2016 FFY 2015

                               adjusted unadjusted adjusted unadjusted

Revenues                       113.83   113.83     106.63   88.63

Gross profit                   60.35    56.74      55.59    37.59

As % of revenues               53.0%    49.8%      52.1%    42.4%

EBITDA / (LBITDA)              14.05    2.15       15.57    (3.62)

As % of revenues               12.3%    1.9%       14.6%    -4.1%

EBIT / (LBIT)                  4.23     (7.67)     7.54     (11.66)

As % of revenues               3.7%     -6.7%      7.1%     -13.2%

Net income / (loss)            (1.50)   (13.40)    1.62     (11.95)

As % of revenues               -1.3%    -11.8%     1.5%     -13.5%

Total fixed assets, net        18.36    18.36      16.35    16.35

Total equity                   56.93    56.93      39.33    25.77

Employees at the end of period 640      640        612      612


Detailed reporting
The 2016 Annual Report will be available on the LifeWatch website via the
following link:https://www.lifewatch.com/Investor-Relations/Financial-Publicatio
ns-and-Presentations.html


Calendar:
April 26, 2017: Ordinary Shareholders Meeting in Zurich
August 24, 2017: Analyst Conference Results HY 2017


A press and analyst meeting will take place on March 20 at 10.00 in Zurich.
Dr. Stephan Rietiker, CEO, and Andrew Moore, CFO, will comment on the results of
the 2016 financial year and provide an update on current projects.

The Live Audio Webcast and the presentation slides can be found under the
following link:
http://lifewatch170316-live.audio-webcast.com

The dial-in numbersto join by telephone are detailed below:
CH: +41 22 580 59 70
GER: +49 69 2222 29 043
UK: +44 203 009 2452
USA: +1 855 402 7766
Participants Pin-Code: 60170589#


For further questions:
LifeWatch AG, Andrew Moore, CFO
c/o Communicators AG , Ralph Spillmann
Mobile: +41 79 514 64 84
E-Mail: investor-relations@lifewatch.com


About LifeWatch AG
LifeWatch AG, headquartered in Zug and listed on SIX Swiss Exchange (LIFE),
Switzerland, is a leading healthcare technology and solution company,
specializing in advanced digital health systems and wireless remote diagnostic
patient monitoring services. LifeWatch's services provide physicians with
critical information to determine appropriate treatment and thereby improve
patient outcomes. LifeWatch AG has operative subsidiaries in the United States,
in Switzerland and in Israel, and is the parent company of LifeWatch Services
Inc., and LifeWatch Technologies, Ltd. LifeWatch Services, Inc. is a leading
U.S.-based provider of cardiac monitoring services. LifeWatch Technologies Ltd.,
based in Israel, is a leading developer and manufacturer of telemedicine
products. For additional information, please visitwww.lifewatch.com.

Sign up for customized e-mail alerts and documentation requests at
https://www.lifewatch.com/Investor-Relations/Alert-Service.html

This press release includes forward-looking statements. All statements other
than statements of historical facts contained in this press release, including
statements regarding future results of operations and financial position, the
business strategy, and plans and objectives for future operations, are
forward-looking statements. The words "believe," "may," "will," "estimate,"
"continue," "anticipate," "intend," "expect" and similar expressions are
intended to identify forward-looking statements. LifeWatch AG has based these
forward-looking statements largely on current expectations and projections about
future events and financial trends that it believes may affect the financial
condition, results of operations, business strategy, short-term and long-term
business operations and objectives, and financial needs. These forward-looking
statements are subject to a number of risks, uncertainties and assumptions. In
light of these risks, uncertainties and assumptions, the forward-looking events
and circumstances described may not occur and actual results could differ
materially and adversely from those anticipated or implied in the
forward-looking statements. All forward-looking statements are based only on
data available to LifeWatch AG at the time of the issue of this press release.
LifeWatch AG does not undertake any obligation to update any forward-looking
statements contained in this press release as a result of new information,
future events or otherwise.

THIS PRESS RELEASE IS NOT BEING ISSUED IN THE UNITED STATES OF AMERICA AND MUST
NOT BE DISTRIBUTED TO UNITED STATES PERSONS OR PUBLICATIONS WITH A GENERAL
CIRCULATION IN THE UNITED STATES. THIS PRESS RELEASE DOES NOT CONSTITUTE AN
OFFER OF SECURITIES OF LIFEWATCH AG OR ANY OF ITS SUBSIDIARIES FOR SALE IN THE
UNITED STATES, OR AN INVITATION TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES OF
LIFEWATCH AG OR ITS SUBSIDIARIES IN THE UNITED STATES. IN ADDITION, THE
SECURITIES OF LIFEWATCH AG AND ITS SUBSIDIARIES HAVE NOT BEEN REGISTERED UNDER
THE UNITED STATES SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD OR DELIVERED
WITHIN THE UNITED STATES OR TO U.S. PERSONS ABSENT FROM REGISTRATION UNDER OR AN
APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE UNITED STATES
SECURITIES LAWS.

Additional features:


Document:http://n.eqs.com/c/fncls.ssp?u=LIHESOUDAL
Document title: 20170317_Financial Results16_EN
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End of ad hoc announcement------------------------------------------------------

Language: English

Company:  LifeWatch AG

          Baarerstrasse 139

          6300 Zug

          Switzerland

Phone:    +41 41 728 67 78

Internet: www.lifewatch.com

ISIN:     CH0012815459

Valor:    811189

Listed:   Regulated Unofficial Market in Berlin, Stuttgart; Open Market in
Frankfurt; SIX Swiss Exchange



 

End of Announcement EQS Group News Service

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555261  17-March-2017 CET/CEST
 

 


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