BICO

July-September 2024 (compared with July-September 2023)

• Net sales amounted to SEK 495.5m (587.6) which corresponds to a decrease of −15.7% compared to the corresponding quarter previous year
• Organic sales growth for the quarter amounted to −12.6% (16.7%). From Q1 2024, BICO reports all organic growth figures in constant currency
• The gross margin amounted to 53.1% (52.8%). From Q1 2024, BICO has changed to functional reporting and comparable numbers have been adjusted
• Adjusted EBITDA amounted to SEK 39.6m (94.7) corresponding to a margin of 8.0% (16.1%)
• EBITDA amounted to SEK 37.0m (89.5) corresponding to a margin of 7.5% (15.2%)
• Net profit/loss for the quarter from continuing operations amounted to SEK −247.5m (−40.1) corresponding to earnings per share from continuing operations before and after dilution of SEK −3.49 (−0.57)
• Cash flow from operating activities amounted to SEK 45.0m (3.6)

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

• Net sales amounted to SEK 1,539.7m (1,613.3) which corresponds to a decrease of −4.6% compared to the corresponding period previous year
• Organic sales growth for the period amounted to −3.8% (6.0%). From Q1 2024, BICO reports all organic growth figures in constant currency
• The gross margin amounted to 49.9% (50.1%). From Q1 2024, BICO has changed to functional reporting and comparable numbers have been adjusted
• Adjusted EBITDA amounted to SEK 76.3m (131.6) corresponding to a margin of 5.0% (8.2%)
• EBITDA amounted to SEK 53.5m (265.3) corresponding to a margin of 3.5% (16.4%)
• Net profit/loss for the period from continuing operations amounted to SEK −355.4m (−345.5) corresponding to earnings per share from continuing operations before and after dilution of SEK −4.99 (−4.89)
• Cash flow from operating activities amounted to SEK −23.2m (16.4)

Q3 2024 takeaways

• Soft market for instruments sales primarily in Academia & Research and Diagnostics segments due to Capex constraints and fewer project starts in Lab Automation, hampered Q3 sales performance
• All business areas EBITDA positive during the quarter
• Andreas Joersjö was appointed General Counsel in July (and assumed office during mid-October 2024)
• Launch of updated strategy, BICO 2.0 during the Capital Markets Day held on September 17, 2024
• Launch and implementation of new business area structure and reporting segments: Lab Automation, Life Science Solutions, and Bioprinting and BICO’s financial targets reiterated

Significant events after Q3 2024

• Appointment of the Nomination Committee for the 2025 Annual General Meeting
• BICO entered an agreement to divest Nanoscribe
• BICO completed a repurchase of convertible bonds to a nominal value of SEK 118m
• CELLINK announced further right-sizing and launched a sharpened commercial agenda

Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held later today, on November 26, 2024, at 10:00am CET, at which President & CEO Maria Forss and CFO Jacob Thordenberg will present the interim report.

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

If you wish to participate via webcast, please use the link below:
https://ir.financialhearings.com/bico-q3-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=50049741