Publication of BICO Group interim report January – March 2023May 4, 2023 6:00 am
Healthy operational cash flow and improved profitability from cost savings program
BICO Group AB 559050–5052 (NASDAQ STOCKHOLM: BICO).
January-March 2023 (compared with January-March 2022)
- Net sales amounted to SEK 500.7m (477.2), which corresponds to an increase of 4.9% (268.5%) compared to the corresponding quarter previous year.
- Organic revenue growth for the quarter amounted to 3.7%, and 10.1% excluding covid-19 related sales in Ginolis (52.0% including Ginolis and 51.0% excluding Ginolis).
- Adjusted EBITDA amounted to SEK -9.3m (6.0), corresponding to a margin of -1.9% (1.3) and SEK 28.7m (14.3) excluding covid-19 related sales in Ginolis corresponding to a margin of 5.9% (3.3%).
- EBITDA amounted to SEK -22.5m (-19.4), corresponding to a margin of -4.5% (-4.1%)
- Net profit/loss for the quarter amounted to SEK -118.4m (-43.5), corresponding to earnings per share before and after dilution of SEK -1.67 (-0.68).
- The gross margin amounted to 70.4% (73.9).
- Cash flow from operating activities amounted to SEK 60.4m (-69.2).
“Record high operational cash flow following the important net working capital improvement activities started in 2022. All in all, a stable quarter with strong proof points on organic growth relative to peers as well as cost savings and cash flow initiatives.”
Erik Gatenholm, President & CEO BICO Group AB
Q1 Key takeaways
- Stable quarter with strong proof points on cost and cash flow initiatives.
- Relatively strong organic growth compared with industry peers.
- Right-sizing of Ginolis.
- Continuous progress in Sartorius partnership.
- Cost savings program launched in Q3, 2022 developed according to plan.
Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held on May 4, 2023 at 10:00am CEST, at which President & CEO Erik Gatenholm and CFO Jacob Thordenberg will present the Q1 report. The presentation will be given in English.
The presentation will be available on BICO’s website from 09:00am CEST.
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.