Revenio Group Oyj - Financial Statement Release

Revenio Group Corporation: Financial Statement Bulletin January 1-December 31, 2016

Revenio Group Corporation, Financial Statement Release, February 16, 2017 at
9:00

Revenio Group Corporation's Financial Statement Bulletin January 1-December
31, 2016 (Unaudited)

This release is a summary of Revenio Group's January-December 2016 financial
statement bulletin. The complete report is attached to this release as a pdf-
file. The stock exchange release is also available on the company's website
at www.revenio.fi.

Q4/2016: Continued strong growth and profitability. Net sales +21%, operating
profit +74%

October-December 2016 in brief, continuing Group functions:
  * Net sales totaled EUR 6.6 (5.5) million, an increase of 21.3 per cent
  * Operating profit amounted to EUR 2.1 (1.2) million; an increase of 73.8%
  * Earnings per share from continuing operations amounted to EUR 0.21 (0.14)
  * As of January 1, 2017, Timo Hildén has been the CEO of Revenio

January-December 2016 in brief, continuing Group functions
  * Net sales totaled EUR 23.4 (20.3) million, an increase of 15.7 per cent
  * Operating profit was EUR 7.1 (5.8) million, an increase of 22.5 per cent
  * Strong growth in probe sales continued, amounting to EUR 6.3 (5.1) million,
    or 26.8 per cent of net sales
  * Earnings per share from continuing operations came to EUR 0.70 (0.61)
  * In March, Revenio announced that the U.S. Food and Drug Administration (FDA)
    had not granted a sales permit for the Icare HOME tonometer in the U.S. The
    company submitted a renewed sales permit application to the FDA in November.
  * After the review period in January, the company received four additional
    questions from the FDA, to which they replied within 20 days. The company
    expects the FDA's decision in late March 2017.
  * In April, a sales permit for Icare ic100 was granted in the United States
  * An application was filed for the CE mark for the asthma product to be named
    Ventica. The CE marking has been granted after the review period in January.
  * The Board will propose to the Annual General Meeting of March 22, 2017 a
    dividend of EUR 0.74 (0.70)


 Key figures, continuing functions, MEUR



                          1.1-       1.1- Change-      1.10-      1.10- Change-
                    31.12.2016 31.12.2015       % 31.12.2016 31.12.2015       %

 Net sales, Group         23.4       20.3    15.7        6.6        5.5    21.3

 Operating profit,         7.1        5.8    22.5        2.1        1.2    73.8
 Group

 Net sales, Health        23.4       20.3    15.7        6.6        5.5    21.3
 Tech

 Operating profit,         8.6        7.4    17.0        2.6        1.8    41.4
 Health Tech

 Undiluted earnings       0.70       0.61    14.8       0.21       0.14    50.2
 per share

 Cash flow from
 operating                 6.0        4.9    22.6        2.1        1.5    40.2
 activities

                        31 Dec     31 Dec Change,
                          2016       2015      %-
                                            point

 Equity ratio-%           78.9       81.6    -2.7

 Gearing-%               -43.8      -48.3     4.5




Financial guidance for 2017

Net sales growth is expected to remain strong. Profitability is expected to
remain at a healthy level despite growth investments.

Timo Hildén, President and CEO, comments on the company's performance in 2016:

The year 2016 mainly brought us success, but we also experienced some setbacks.
Among our achievements were strong sales in China, the completion of the Icare
ic100 tonometer within the agreed schedule for sales, as well as the sales
permit we obtained for this device in the United States. The United States
continues to be our largest individual market, and it is important for us to
succeed there. Centralizing the manufacture of probes mainly in Finland has also
proved to be an extremely wise and well-managed move.

The past year has also been challenging. In addition to success, we also
experienced some setbacks: the application process for the sales permit for the
Icare HOME tonometer in the United States did not go as smoothly as we had
hoped, and we had to submit a new sales permit application to the FDA at the end
of the year. The application process, as a whole, was a great deal more
cumbersome than anticipated. However, thanks to the commitment and hard work put
into the project by our employees, we believe that our efforts will be rewarded.

Revenio Research Oy's development projects for skin cancer and asthma-related
products are progressing as planned. Our asthma product was named Ventica® and
received the CE mark, which will give us the opportunity to launch the first
clinical trials of the commercial product.

We continue to expect growth. We have invested in the future by complementing
the rebound tonometry, which is used to measure intraocular pressure, with other
health technologies on which we our expertise is focused. This will ensure that
we are not dependent on one product and technology but will become a true health
technology product developer and marketer. We have prepared for the future by
recruiting skilled professionals for various positions in Finland as well as
abroad, and we expect solid results from them in terms of both sales and R&D. We
have a good reputation and can choose from among the best applicants. We have
kept our in-house team as compact as possible and have used skilled partners
whenever possible for tasks that require special expertise. These cooperation
partners have made a valuable contribution to our achievements.

I would like to thank Olli-Pekka Salovaara, Revenio's long-term President and
CEO, for his nearly ten-year journey as CEO, during which we have crafted
Revenio into a successful health care technology company. We have been pioneers
in many areas, in which we can be proud of as a company.

Olli-Pekka Salovaara: "Again, our personnel reached excellent results.
Warmhearted thanks to them. I also wish to thank our shareholders for their
trust in us. I am convinced that Revenio Group's world-class know-how and
strategy form a solid platform for success in the future too. This creates a
good foundation to continue from. I wish you continued success!"

Briefing

A briefing for analysts, portfolio managers, and media representatives will be
held on February 16, 2017, starting at 9:30 a.m. at Pörssitalo (Fabianinkatu
14, 00100 Helsinki). The presentation materials will be available on the
company's website at www.revenio.fi after the event.

Revenio Group Corporation
Board of Directors

For further information, please contact:
CEO&President Timo Hildén
Telephone: +358 40 580 4774
timo.hilden@revenio.fi
www.revenio.fi

DISTRIBUTION:
Nasdaq Helsinki
Financial Supervisory Authority
Principal media
www.revenio.fi

The Revenio Group in brief
Revenio is a Finnish, globally operating health technology corporation whose
worldwide success is based on intraocular pressure measurement technology that
has a strong patent. Revenio Group consists of, in addition to the parent
company, Icare Finland Oy which focuses on intraocular pressure measurement
technology and its fully owned subsidiary Icare USA Inc., research and
development company Revenio Research Oy and Oscare Medical Oy, in which Revenio
holds a 53.5% interest. The common denominators of Revenio's business operations
include screening, follow-up, and the global need to make cost savings through
preventive health care.

Revenio seeks vigorous growth in health technology. Revenio aims to develop even
more efficient and easily adopted methods for the early-stage detection of
diseases with significance for public health. The focus of Revenio's screening
technology is on the early detection of glaucoma, osteoporosis, skin cancer, and
asthma, and the monitoring of these during the treatment process.

In 2016, Revenio Group's net sales totaled MEUR 23.4, with its operating margin
for continuing operations standing at 30.1% from continuous operations. Revenio
Group Corporation is listed on Nasdaq Helsinki.

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Attachments:

Revenio Group Corporation Financial Statement Bulletin 2016.pdf