Bactiguard

Of the total EBITDA impact of 42 MSEK, the write-down of inventories (related to stock of devices and raw materials) stands for approximately 15 percent, the accrual of accounts receivable overdue and adjacent projects (related to license partners and distributors in Southeast Asia) for approximately 70 percent, and the costs for other structural changes for approximately 15 percent. 

“It was crucial for me, as the new CEO, to get into every detail of what could potentially negatively impact our business and in connection with preparing the Q2 report, we made an in-depth review of all financial items. In essence, what we are doing now is a well-needed clean up to be able to focus on our growth strategy. We see vast opportunities in our therapeutic focus areas and will continue our efforts in Licensing and the US go-to-market strategy. And importantly, the adjustments are of a one-time character,” states Thomas von Koch, interim CEO of Bactiguard. 

As previously reported, Bactiguard is on a transformation journey with 2022 and 2023 characterized by investments in the organization to lay the foundation for a long-term and resilient growth. The investments in the transformation of Bactiguard will consequently affect profitability, as stated most recently in the Q1 2023 report. As also reported in the Q1 2023 report, revenue streams from Bactiguard’s largest license partner Becton Dickinson (BD) are anticipated to be adjusted over the coming quarters as they have built up a significant stock in-house. 

The financial targets for 2026 stay firm and assume that the license development projects progress accordingly, including Zimmer Biomet and their broader orthopaedics portfolio, and Dentsply Sirona. The strategic goal of adding 1-2 new license agreements per year also stays firm. 

Bactiguard Holding AB will publish its interim report Q2 2023 on July 18, 2023, at 08:00 CEST which will be followed by a press conference at 11:00 CEST.