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.
 https://ir.financialhearings.com/bico-q4-2022/register
 
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=5005818

The presentation will also be available on the company’s website:
 https://bico.com/investors/financials/financial-reports-and-presentations/