BICO

BICO Group AB 559050–5052 (NASDAQ STOCKHOLM: BICO).

January-March 2023 (compared with January-March 2022)

• Net sales amounted to SEK 500.7m (477.2), which corresponds to an increase of 4.9% (268.5%) compared to the corresponding quarter previous year.
• Organic revenue growth for the quarter amounted to 3.7%, and 10.1% excluding covid-19 related sales in Ginolis (52.0% including Ginolis and 51.0% excluding Ginolis).
• Adjusted EBITDA amounted to SEK -9.3m (6.0), corresponding to a margin of -1.9% (1.3) and SEK 28.7m (14.3) excluding covid-19 related sales in Ginolis corresponding to a margin of 5.9% (3.3%).
• EBITDA amounted to SEK -22.5m (-19.4), corresponding to a margin of -4.5% (-4.1%)
• Net profit/loss for the quarter amounted to SEK -118.4m (-43.5), corresponding to earnings per share before and after dilution of SEK -1.67 (-0.68).
• The gross margin amounted to 70.4% (73.9).
• Cash flow from operating activities amounted to SEK 60.4m (-69.2).
  

“Record high operational cash flow following the important net working capital improvement activities started in 2022. All in all, a stable quarter with strong proof points on organic growth relative to peers as well as cost savings and cash flow initiatives.”

Erik Gatenholm, President & CEO BICO Group AB

Q1 Key takeaways

• Stable quarter with strong proof points on cost and cash flow initiatives.
• Relatively strong organic growth compared with industry peers.
• Right-sizing of Ginolis.
• Continuous progress in Sartorius partnership.
• Cost savings program launched in Q3, 2022 developed according to plan.

Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held on May 4, 2023 at 10:00am CEST, at which President & CEO Erik Gatenholm and CFO Jacob Thordenberg will present the Q1 report. The presentation will be given in English.

The presentation will be available on BICO’s website from 09:00am CEST.
https://bico.com/investors/

If you wish to participate via webcast, please use the link below:
Via the webcast you can ask written questions.
https://ir.financialhearings.com/bico-q1-2023/register

If you wish to participate via teleconference, please register on the link below:

After registration you will be provided phone numbers and a conference ID to access the conference.
You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=200738