Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

The Trendlines Group Reports 2016 Year-End Results


News provided by

The Trendlines Group Ltd.

22 Feb, 2017, 12:00 GMT

Share this article

Share toX

Share this article

Share toX

This image opens in the lightbox
Trendlines Logo (PRNewsFoto/The Trendlines Group Ltd.)

MISGAV, Israel and SINGAPORE, February 22, 2017 /PRNewswire/ --

The Trendlines Group Ltd. (the "Company" and together with its subsidiaries and associated companies, "Trendlines" or the "Group") an Israeli company focused on developing technology-based companies in the medical and agricultural fields, announced its financial year ended 31 December 2016 financial results ("FY2016").

     (Logo: http://mma.prnewswire.com/media/467300/The_Trendlines_Group_Logo.jpg )

2016 Highlights:  

  • 10 new portfolio companies established
  • Fair Value of Portfolio: US$83.7 million (FY2015: US$84.4 million)
  • Total current assets: US$17.3 million (FY2015: US$24.0 million)
  • Trendlines Labs revenue almost triples to US$1.14 million (FY2015: US$0.4 million)
  • Sale of E.T.View Medical Ltd. ("ETView") US$13.6 million; proceeds to Trendlines of US$3.6 million and a net gain of US$2.1 million
  • Net loss: US$6.6 million (FY2015: US$3.6 million)

FY2016 Financial Results:  

For FY2016, Total Income was US$0.1 million, compared to US$9.9 million in FY2015. The decrease in Total Income primarily reflects the US$8.0 million loss from the change in the fair value ("Portfolio Value") of Trendlines' portfolio companies, which compares to a net gain of approximately US$5.0 million in FY2015. The loss was partly offset by a US$2.1 million gain from the sale of ETView held by Trendlines under the equity method, and a strong rise in revenues from Trendlines Labs, which rose to US$1.14 million from US$0.4 million in the financial year ended 31 December 2015 ("FY2015").

Operating, general and administrative expenses were US$8.7 million in FY2016, compared to US$6.7 million in FY2015. Operating, general and administrative expenses were US$2.0 million higher in FY2016, mainly due to an increase in employment costs due to recruitment of new high level employees as part of the Company expansion, and listing expenses as a public company. Net loss for FY2016 was approximately US$6.6 million, compared to a loss of US$3.6 million in FY2015.

Current assets were US$17.3 million as at 31 December 2016, compared to US$24.0 million as at 31 December 2015. The fair value of portfolio companies was US$83.7 million as at 31 December 2016. This compares with a portfolio value of approximately US$84.4 million as at 31 December 2015.

Commenting on corporate developments during 2016, Chairman and CEO Steve Rhodes said, "In 2016, Trendlines succeeded in achieving significant goals that we set for ourselves and our investors. The accomplishment of these objectives has set the stage for strong portfolio expansion in 2017 and beyond.  Early in the year, the Israel Innovation Authority renewed our incubator license for an additional eight years and approved our request to include both medical and agricultural technology investments in the renewed license. We started 10 new companies, bringing the total number of portfolio companies, net of write-offs, to 46. Seventeen of our portfolio companies raised a total of US$20 million in follow-on capital in 2016. We have successfully grown Trendlines Labs from a unit producing revenues of $0.4 million in 2015, to a unit working with multinationals in Europe, Asia and North America, producing 2016 revenues of $1.14 million.

Regarding the Group's international expansion and Trendlines' growing partnership network, Chairman and CEO Todd Dollinger said "2016 was a year of meaningful milestones for Trendlines. Most obvious among our 2016 achievements was the establishment of Trendlines Medical Singapore, our first incubator outside of Israel. We are very pleased with the support we have received both from B. Braun in its role as an active minority shareholder and from SPRING Singapore, the enterprise development agency of the Singapore Ministry of Trade and Industry, which awarded a S$2.2 million grant to the new incubator.

Mr. Dollinger continued, "Partnering with multinational corporations has been a key element of the Trendlines success at many levels and our partnerships with multinational corporations deepened significantly during 2016. In addition to the investment by B. Braun in Trendlines Medical Singapore, B. Braun also invested in two of our portfolio companies, ApiFix and Gordian Surgical and is now working actively with our team at Trendlines Labs. Another major European partner, Bayer AG, joined with Trendlines in April 2016 to form and invest US$10 million in the Bayer Trendlines Ag Innovation Fund to invest in Trendlines portfolio companies.

In addition to Bayer and B. Braun, we have agreements in place with other multinationals in Asia and the U.S., including one for which our Labs' division developed a device which is one of the leading products for that industry giant."

We look forward to growing our work with our partners and international investors in 2017. We invite the investment community to our Company Showcase in Israel on March 29, 2017, where there will be an opportunity to hear presentations from nine of our portfolio companies and visit with the Trendlines' team."

For full financial information, please see our announcement: Unaudited Financial Statement and Dividend Announcement for the Financial Year Ended 31 December 2016

About The Trendlines Group Ltd. 

Trendlines is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines' shares are traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX International (OTCQX: TRNLY).

Forward Looking Statement  

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan," to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission.

Investor Contact Information:
Israel
Judith Kleinman
Director, Investor Relations & Corporate Communications
judith@trendlines.com
+972.72.260.7000

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.