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Publication of BICO Group interim report January – March 2023

MAR

Healthy operational cash flow and improved profitability from cost savings program

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   

For further information, please contact:
Erik Gatenholm, President & CEO, BICO Group AB
Telephone US: +1 (650) 515-5566
Telephone Sweden: +46 73 267 00 00
E-mail: eg@bico.com

Jacob Thordenberg, Chief Financial Officer, BICO Group AB
Phone: +46 73 534 88 84
E-mail: jt@bico.com

This information is information that BICO Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-05-04 07:00 CEST.

For media inquiries and questions about the media and investor presentation, please contact BICO Investor relations:
Phone: +46 73 546 57 77
Email: ir@bico.com

About BICO
BICO is a leading provider of life science solutions and laboratory automation that enable more efficient development of new treatments with more specificity and less need for animal testing.

The company uses bioconvergence as its operating system, combining advanced technologies with biology to streamline and automate workflows within the pharmaceutical and biopharma industries.

With 32,000+ instruments installed in over 65 countries, BICO products and solutions are found in more than 3,500 laboratories, including the world’s top 20 pharmaceutical companies, and have been cited in over 11,000 publications.

Operating through three business areas – Bioprinting, Biosciences and Bioautomation – the BICO Group strives towards the long-term ambition of enabling the reduction the world’s organ shortage and speeding up drug development to create the future of life-saving treatments.

BICO is listed on Mid-Cap, Nasdaq Stockholm under BICO. www.bico.com

Attachments
BICO Group (publ) Q1 2023 ENG

Datum 2023-05-04, kl 07:00
Källa MFN
Bifogade filer
BICO Group (publ) Q1 2023 ENG
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