Press release - BICO - We create the future of health

Interim report January-March 2021: High organic growth, strengthened gross margin, and strategic acquisitions

First quarter, 2021

  • Net sales amounted to MSEK 129.5 (38.0), which corresponded to an increase of 241% (55) compared to the corresponding period previous year, of which 62% (25) was organic growth.
  • Operating profit before depreciation (EBITDA) amounted to MSEK -34.9 (-5.7), corresponding to a margin of -26.9% (-14.9). The operating profit during the quarter was affected by acquisition costs totaling MSEK 20.5.
  • Profit/loss for the period amounted to MSEK -47.8 (-33.5), which generated earnings per share after dilution of SEK -0.90 (-0.80). The result was positively affected by the market valuation of the company's short-term investments of MSEK 4.4 (-22.7).
  • The gross margin amounted to 77.3% (74.8), mainly due to higher revenue per product, improved product mix and increased share of sales in services and consumables.
  • Rolling twelve-month net sales from consumables amounted to MSEK 46.2 (19.2), an increase of 140%. The share of total product sales was 12.9%, a decrease of 0.2 percentage points (13.1% in the comparison period).
  • During the quarter, the Finnish company Ginolis, specializing in advanced diagnostics automation and advanced robotics solutions, was acquired for MSEK 648.8. In addition, the American company MatTek, a global leader in in-vitro technology and alternative drug testing models for pharmaceuticals and cosmetic products, was acquired for MSEK 610.
  • During March, the offering of senior unsecured convertible bonds convertible to Class B share and a class B share issue to a total amount of MDSEK 3 were completed.

CELLINK ended the first quarter and began its 5th year as a listed company with a strengthened position in the global market because of new product launches, a capital raise of BSEK 3, effective work by the global sales team, further development of our global workforce and the acquisitions of Ginolis and MatTek. The acquisition of Ginolis in advanced diagnostics automation and advanced robotics solutions and the acquisition of MatTek, a global leader in in-vitro technology and alternative drug testing models for pharmaceuticals and cosmetic products, mean that we can continue to persistently challenge and develop the industry. Through our bioconvergence agenda, we are well positioned, together with our customers and partners, to create the future of medicine.”, says Erik Gatenholm, CEO CELLINK.

The first quarter resulted in continued high organic growth and a strengthened gross margin mainly due to higher average revenue per product, an improved product mix and an increased share of sales of services and consumables. The Group was burdened by increased costs during the quarter which was attributable to acquisition related costs, increased investments in personnel, systems, and innovative product development. The quarter has historically been the Group's weakest and Industrial Solutions had a negative impact on earnings due to a lower delivery rate compared with the significant positive impact on earnings that the segment had in the previous quarter (Q5, 2019/2020). The variation was due to the order- and the delivery situation during the year, where the segment historically has made its entire profit in the second half of the year. However, it should be emphasized that Industrial Solutions ended the quarter with a historically large order backlog.”, says Erik Gatenholm, CEO CELLINK.

Digital Capital Markets Day, May 12, 2021. 14:00-17:00 (CEST)
The presentation for the CMD will be available on the company's website on 13.45 (CEST). The presentations will also be recorded and available post the CMD at the company’s website. For program and more information about the CMD please visit https://www.cellink.com/investors/cellink-digital-capital-market-day/.

Date: Wednesday, May 12, 2021. 14:00-17:00 (CEST)
Registration: https://www.cellink.com/investors/cellink-digital-capital-market-day/. The CMD will take place on the digital platform GoToWebinar. 

Annex: Interim report January-March 2021

This information is such that CELLINK is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted for publication by the contact persons set out below on May 12, 2021 at 08.00 (CEST).

For further information, please contact:

Erik Gatenholm, CEO       
Phone (Sweden): +46 73 267 00 00
Phone (US): +1 (650) 515 5566

Email: eg@cellink.com   
Gusten Danielsson, CFO                            
Phone (Sweden): +46 70 991 86 04     
Phone (US): +1 (857) 332 2138

Email: gd@cellink.com

About CELLINK
Founded in 2016, CELLINK is the leading bioconvergence company in the world that provides technologies, products and services to create, understand and master biology. With a focus on the application areas of bioprinting, multiomics, cell line development, and diagnostics, the company develops and markets innovative technologies that enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical and cosmetic industries. CELLINK’s products are trusted by more than 2,000 laboratories, including ones at all the top 20 pharmaceutical companies, are being used in more than 65 countries, and have been cited in more than 1,700 publications. CELLINK is creating the future of medicine. CELLINK is listed on the Nasdaq Stockholm under CLNK B. www.cellink.com/investors

Latest press releases