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Regulatory press release

Publication of BICO Group Interim Report January-September 2024

BICO Group
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July-September 2024 (compared with July-September 2023)

  • Net sales amounted to SEK 495.5m (587.6) which corresponds to a decrease of −15.7% compared to the corresponding quarter previous year
  • Organic sales growth for the quarter amounted to −12.6% (16.7%). From Q1 2024, BICO reports all organic growth figures in constant currency
  • The gross margin amounted to 53.1% (52.8%). From Q1 2024, BICO has changed to functional reporting and comparable numbers have been adjusted
  • Adjusted EBITDA amounted to SEK 39.6m (94.7) corresponding to a margin of 8.0% (16.1%)
  • EBITDA amounted to SEK 37.0m (89.5) corresponding to a margin of 7.5% (15.2%)
  • Net profit/loss for the quarter from continuing operations amounted to SEK −247.5m (−40.1) corresponding to earnings per share from continuing operations before and after dilution of SEK −3.49 (−0.57)
  • Cash flow from operating activities amounted to SEK 45.0m (3.6)

January-September 2024 (compared with January-September 2023)

  • Net sales amounted to SEK 1,539.7m (1,613.3) which corresponds to a decrease of −4.6% compared to the corresponding period previous year
  • Organic sales growth for the period amounted to −3.8% (6.0%). From Q1 2024, BICO reports all organic growth figures in constant currency
  • The gross margin amounted to 49.9% (50.1%). From Q1 2024, BICO has changed to functional reporting and comparable numbers have been adjusted
  • Adjusted EBITDA amounted to SEK 76.3m (131.6) corresponding to a margin of 5.0% (8.2%)
  • EBITDA amounted to SEK 53.5m (265.3) corresponding to a margin of 3.5% (16.4%)
  • Net profit/loss for the period from continuing operations amounted to SEK −355.4m (−345.5) corresponding to earnings per share from continuing operations before and after dilution of SEK −4.99 (−4.89)
  • Cash flow from operating activities amounted to SEK −23.2m (16.4)

Q3 2024 takeaways

  • Soft market for instruments sales primarily in Academia & Research and Diagnostics segments due to Capex constraints and fewer project starts in Lab Automation, hampered Q3 sales performance
  • All business areas EBITDA positive during the quarter
  • Andreas Joersjö was appointed General Counsel in July (and assumed office during mid-October 2024)
  • Launch of updated strategy, BICO 2.0 during the Capital Markets Day held on September 17, 2024
  • Launch and implementation of new business area structure and reporting segments: Lab Automation, Life Science Solutions, and Bioprinting and BICO’s financial targets reiterated

Significant events after Q3 2024

  • Appointment of the Nomination Committee for the 2025 Annual General Meeting
  • BICO entered an agreement to divest Nanoscribe
  • BICO completed a repurchase of convertible bonds to a nominal value of SEK 118m
  • CELLINK announced further right-sizing and launched a sharpened commercial agenda

Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held later today, on November 26, 2024, at 10:00am CET, at which President & CEO Maria Forss and CFO Jacob Thordenberg will present the interim report.

The presentation will be available on BICO’s website from 09:00am CET.
https://bico.com/investors/

If you wish to participate via webcast, please use the link below:
https://ir.financialhearings.com/bico-q3-report-2024

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=50049741

For further information, please contact:
Maria Forss, President & CEO, BICO Group AB
Phone: EA Isabella Lundin +46 73 515 99 64
E-mail: mf@bico.com

Jacob Thordenberg, Chief Financial Officer, BICO Group AB
Phone: +46 73 534 88 84
E-mail: jt@bico.com

This information is information that BICO Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-11-26 07:00 CET.

For inquires related to the presentation or teleconference or if you wish to send questions to the speakers, please contact BICO Investor Relations.
Phone: +46 735 46 57 77
E-mail: ir@bico.com

About BICO
BICO is a lab automation partner and provider of selected workflows to pharma and biotech. With 46,000+ instruments installed in over 65 countries, BICO products, software, and solutions are found in more than 3,500 laboratories, including the world’s top 20 pharmaceutical companies, and have been cited in over 12,000 publications. Operating through three business areas – Lab Automation, Life Science Solutions, and Bioprinting – BICO strives towards the vision to enable and automate the life science lab of the future. BICO is listed on Mid-Cap, Nasdaq Stockholm under BICO. www.bico.com

Attachments
BICO Q3 2024 ENG

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