The business update provides a preliminary announcement of the company's financial performance as of March 31, 2022, and indicates that BICO delivered results that are in line with and exceed the company's financial targets. The financial targets, which have previously been communicated, state that the annual organic growth should be above 35 percent, and that the company should deliver a positive EBITDA.
Business update for the period January - March 2022
The following figures are preliminary, and may be adjusted in the interim report published on May 18, 2022:
• Net sales amounted to SEK 477 M (129.5), an increase of 268% (241) compared with the corresponding period last year, of which the organic growth amounted to 52% (62).
• Gross profit amounted to SEK 352 M (100.1), which corresponds to a gross margin of 73.9% (77.3)
• EBITDA amounted to SEK -19 million (-34.9), which corresponds to a margin of -4.1% (-26.9).
• Adjusted EBITDA amounted to SEK 6 M (-12.4), which corresponds to a margin of 1.3% (-9.6)
Erik Gatenholm, CEO of BICO, comments:
“I am proud and grateful for our organization, which works every day to achieve our strategic goals, and which always shows its commitment to pushing BICO forward on our exciting growth journey. The results tentatively indicate that we are delivering strong interim financial performance that exceed our financial target for organic growth and that shows that we are moving towards the profitability for which we have targeted.”
“We have a good plan for achieving profitability and have since last year worked actively to create an even stronger structure within the financial organization to deliver on this – an area that our new interim CFO, Mikael Engblom, will continue to lead and accelerate."
For further information, please contact:
Åsa Hillsten, SVP & Head of IR, BICO
Telefon (EU): +46 70-081 81 17
This information is such that BICO Group AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the above contact persons, for publication on May 2, 2022, at 08:30 (CET).
Founded in 2016, BICO (formerly CELLINK) is enabling the future of life-saving treatments by reducing the organ shortage and accelerating drug development by providing accessible life science solutions that combine biology and technology (bioconvergence). The company focuses on developing, manufacturing, selling, and supporting its life sciences equipment, consumables, and reagents for both manufacturing as well as research purposes. BICO has more than 25,000 products in the field, sales in more than 65 countries, delivers to all top 20 pharmaceutical companies, and have been cited in more than 10,000 scientific publications. BICO is listed on Nasdaq Stockholm under: BICO.