Vitrolife: Mixed results in Q3 - ABG

4.7% miss on EBITDA vs cons
Consumables and Technology good, still challenges in Genetics
Estimates likely down 1-3% on EBITDA for consensus


Q3 results

Vitrolife reported a mixed set of numbers in Q3 with improved gross margin, but miss on sales and EBITDA vs cons. Total organic growth of +7.0% (vs ABGSCe +7.8% and vs cons +7.9%) driven by +13% growth in Consumables (ABGSCe +11%), +11% in Technologies (ABGSCe +4%), and +0% in Genetics (ABGSCe +6%). Total sales in Q3 of SEK 867m (-3.0% vs ABGSCe, and -3.6% vs cons) and EBITDA of SEK 289m (+0.4% vs ABGSCe, and -4.7% vs cons). Gross margin in Q3 came in at 58.6% (ABGSCe 57.3% and cons 57.9%) positively impacted by product mix and improved efficiencies. The miss on EBITDA vs ABGSCe was due to weaker-than-expected in Genetics, related to slow genomic kit sales and negative FX impact.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/Vitrolife/Equity-research/2024/10/vitrolife---mixed-results-in-q3/