BICO

October-December 2023 (compared with October-December 2022)

• Net sales amounted to SEK 636.6m (665.9) which corresponds to a decrease of 4.4% (increase of 28.3%) compared to the corresponding quarter previous year
• Organic sales growth for the quarter amounted to -4.4% (20.1%)
• The gross margin amounted to 70.2% (71.3%)
• Adjusted EBITDA amounted to SEK 86.1m (69.8) corresponding to a margin of 13.5% (10.5%)
• EBITDA amounted to SEK 95.1m (69.7) corresponding to a margin of 14.9% (10.5%)
• Net profit/loss for the quarter from continuing operations amounted to SEK -877.0m (-217.8) corresponding to earnings per share from continuing operations before and after dilution of SEK -12.42 (-3.29). This was affected by goodwill impairment in Group companies
• Cash flow from operating activities amounted to SEK 162.0m (-69.1)

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

• Net sales amounted to SEK 2,249.9m (2,120.8), which corresponds to an increase of 6.1% (68.7%) compared to the corresponding period previous year
• Organic sales growth for the period amounted to 5.8% (29.1%)
• The gross margin amounted to 70.1% (74.8%)
• Adjusted EBITDA amounted to SEK 217.7m (126.2), corresponding to a margin of 9.7% (6.0%)
• EBITDA amounted to SEK 360.4m (15.0) corresponding to a margin of 16.0% (0.7%)
• Net profit/loss for the period from continuing operations amounted to SEK -1,698.0m (-88.1) corresponding to earnings per share from continuing operations before and after dilution of SEK -24.04 (-1.33) This was affected by goodwill impairment in Group companies
• Cash flow from operating activities amounted to SEK 178.4m (-269.4)
• The Board proposes no dividend for 2023

All numbers in the Year-end report refers to continuing operations if not otherwise stated. Ginolis has been classified as discontinued operations from the fourth quarter 2023 with retroactive effect.

Q4 takeaways

• Decline in sales due to slower market in Academia, Diagnostics, and Biotech
• Improved profitability and double-digit EBITDA- and adjusted EBITDA margin
• Maria Forss assumed office as CEO and President on November 20, 2023
• Divestment of the Berlin property completed for SEK 244m
  (sale and leaseback with BICO company SCIENION)
• Agreement signed to develop lab automation solution for 28 MUSD
• Non-cash flow affecting goodwill impairment in group companies: SCIENION, Visikol, and Nanoscribe which amounted to SEK 582m

Significant events after Q4

• Catharina Nordlund appointed as Global Head of HR

Presentation for media and investors  
A telephone conference, with the opportunity to ask questions, will be held later today, on February 20, 2024, at 10:00am CET, at which President & CEO Maria Forss and CFO Jacob Thordenberg will present the year-end report. The presentation will be given in English.

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:
Via the webcast you can ask written questions.
https://ir.financialhearings.com/bico-q4-2023

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=5004043