Publication of year-end Report January – December 2022February 22, 2023 7:00 am
All-time high revenue and improved profitability
BICO Group AB 559050–5052 (NASDAQ STOCKHOLM: BICO).
OCTOBER – DECEMBER 2022
(COMPARED WITH OCTOBER – DECEMBER 2021)
- Net sales amounted to SEK 674.1 million (519.1), which corresponds to an increase of 30% (151) compared to the corresponding quarter previous year.
- Organic revenue growth for the quarter amounted to 8% (25).
- EBITDA amounted to SEK 24.3 million (13.0), corresponding to a margin of 3.6% (2.5).
- Adjusted EBITDA amounted to SEK 26.9 million (24.1), corresponding to a margin of 4.0% (4.6).
- Net profit/loss for the quarter amounted to SEK -901.8 million (-25.9), corresponding to earnings per share before and after dilution of SEK -13.73 (-0.41). This was affected by goodwill impairment of Ginolis amounting to SEK 625.0 million.
- The gross margin amounted to 71.6% (72.3).
JANUARY – DECEMBER 2022
(COMPARED WITH JANUARY – DECEMBER 2021)
- Net sales amounted to SEK 2,239.5 million (1,257.3), which corresponds to an increase of 78% (244) compared to the corresponding period previous year.
- Organic growth for the period amounted to 17% (44).
- EBITDA amounted to SEK -56.3 million (-45.1), corresponding to a margin of -2.5% (-3.6).
- Adjusted EBITDA amounted to SEK 62.1 million (16.9), corresponding to a margin of 2.8% (1.3).
- Net profit/loss for the period amounted to SEK -835.7million (-229.2), corresponding to earnings per share before and after dilution of SEK -12.94 (-3.97). This was affected by impairment of Ginolis amounting to SEK 625.0 million.
- The gross margin amounted to 73.6% (72.2).
- Strategic collaboration with Sartorius, resulting in commercial opportunities and a strengthened balance sheet.
- The Board proposes no dividend for 2022.
“We remain focused on executing our business plan for profitable growth and improved cash flow.”
Erik Gatenholm, President & CEO BICO Group AB
Q4 KEY TAKEAWAYS
- SEK 487 million directed share issue to Sartorius
- All-time high revenue
- Continued improvements on profitability and cash flow
- Continued focus on operational efficiency and portfolio synergies
- Cost savings program on target
- Impairment of goodwill in Ginolis
10 NOVEMBER 2022 BICO ANNOUNCED NEW FINANCIAL TARGETS FROM 2023:
- Double-digit organic revenue growth in constant currency
- EBITDA Margin less capitalized development cost > 10%
- NET DEBT / EBITDA <3.0x.
INVITATION TO PRESENTATION:
Join us for a combined presentation webcast and telephone conference with the opportunity to ask questions at 10:00 am CET today on February 22, 2023, with President & CEO Erik Gatenholm and CFO Jacob Thordenberg. The presentation webcast will be accessible via the following link:
Information about the presentation and webcast:
If you wish to participate via webcast, please use the link below.
Via the webcast you can ask written questions.
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.
The presentation will also be available on the company’s website: