BICO

January-March 2024 (compared with January-March 2023)

• Net sales amounted to SEK 510.3m (488.7) which corresponds to an increase of 4.4% (increase of 11.5%) compared to the corresponding quarter previous year
• Organic sales growth for the quarter amounted to 4.7% (-1.1%). From Q1, BICO reports all organic growth figures in constant currency
• The gross margin amounted to 45.1% (51.5%). From Q1, BICO has changed to functional reporting and comparable numbers has been adjusted
• Adjusted EBITDA amounted to SEK -9.0m (26.1) corresponding to a margin of -1.8% (5.3%)
• EBITDA amounted to SEK -19.0m (15.7) corresponding to a margin of -3.7% (3.2%)
• Net profit/loss for the quarter from continuing operations amounted to SEK -29.2m (-76.5) corresponding to earnings per share from continuing operations before and after dilution of SEK -0.40 (-1.07)
• Cash flow from operating activities amounted to SEK -17.3m (60.4)

Q1 takeaways

• Mixed sales performance throughout the business areas, where Biosciences delivered strong sales growth
• Slower sales in Academia and Diagnostics
• As part of preparation before launching the updated strategy BICO performs a strategic review of the R&D roadmap and the Group’s product portfolio
• Conclusions from whistleblower investigation communicated

Significant events after Q1

• Catharina Nordlund assumed office as Chief Human Resources Officer
• Anders Fogelberg appointed as Chief Commercial Officer (CCO)
• Announced changed method for impairment test of goodwill resulting in retroactive impairment of goodwill and other intangible assets for 2022 and 2023

BICO announced changed method for impairment test of goodwill which resulted in retroactive impairment of goodwill for 2022 and 2023
BICO has resolved on a retroactive impairment of goodwill and other intangible assets with an accumulated non-cash effect on EBIT in 2022 and 2023 of SEK -1,788m. The retroactive impairment of goodwill and other intangible assets and is non-cashflow affecting and will not negatively impact the P&L Q1 2024 figures. Full information is disclosed in this interim report, see note 1 and note 10.

Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held later today, on May 7, 2024, at 10:00am CEST, at which President & CEO Maria Forss and CFO Jacob Thordenberg will present the interim 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:
https://ir.financialhearings.com/bico-q1-report-2024

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=50048880