Bactiguard publishes updated financial targets in alignment with sharpened license focused strategy
Following the announcement of Bactiguard’s sharpened license focused strategy on October 5, 2023, the company today publishes its updated financial targets. The updated financial targets relate to growth and profitability with net sales in excess of 1 billion SEK and an EBITDA of 500 million SEK to be delivered by year-end 2028.
The updated financial targets should not be perceived as a forecast but rather reflect what the Bactiguard Holding AB (publ) Board of Directors and Executive Management team consider to be reasonable mid-term expectations of Bactiguard, given the sharpened license focused strategy. The previous strategic goal of 1-2 new license agreements per year is replaced by the target to have at least 10 application areas in license partnerships with products in the market by year-end 2028.
The updated financial targets are anticipated to be achieved following capacity- and competence-building within Bactiguard’s licensing business and with the assumption that the license business and partnerships evolve accordingly. The transformation of Bactiguard will impact the income statement over the coming nine months, but profitability is expected to be achieved during 2024.
Thomas von Koch, CEO comments: “In essence, the targets are the same, but we are prolonging the time horizon until year-end 2028. In addition, we replace the strategic goal of 1-2 new license agreements per year with a target related to application areas and license partnerships with products in the market. Measuring this will give a better understanding of how we make progress in terms of expanding our technology.”
Previous financial targets
Bactiguard’s previous financial targets were announced on February 8, 2022, and covered the period up to 2026. The targets related to growth and profitability, with annual revenues of at least 1 billion SEK and annual EBITDA of at least 400 million SEK in 2026. In addition, Bactiguard had a strategic target of 1-2 new license agreements per year.
Interim report for the third quarter 2023
Bactiguard Holding AB (publ) publishes its interim report for the third quarter on October 27, 2023, at 08:00 CEST. In connection with this, an audiocast will be hosted for investors, analysts, and media at 11:00 CEST. Interim CEO Thomas von Koch will present the report and elaborate on the updated financial targets and answer questions together with CFO Carin Jakobson. The report and a presentation will be available on Bactiguard’s website bactiguard.com
This is information that Bactiguard Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below 2023-10-26, at 18:45 CEST.
For further information, please contact:
Nina Nornholm, Communication & IR Director +46 708 550 356
Carin Jakobson, CFO +46 70 965 16 65
About Bactiguard
Bactiguard is a global medtech company that develops antibacterial, biocompatible and safe technology and solutions to prevent medical device related infections across five therapeutic areas – orthopedics, urology, intravascular/critical care, dental, and wound care.
Bactiguard’s unique technology is based on a thin noble metal coating that prevents bacterial adhesion and biofilm formation on medical devices. Bactiguard’s infection prevention solutions make a positive impact by decreasing patient suffering, saving lives and unburden healthcare resources. They also fight against antimicrobial resistance, one of the most serious threats to global health and modern medicine.
Bactiguard operates through license partnerships with leading global medtech companies, such as BD and Zimmer Biomet, enabling them to bring medical devices with the company’s unique infection prevention technology to the market. Bactiguard also has a portfolio of wound management products and sutures.
Bactiguard is headquartered in Stockholm and listed on Nasdaq Stockholm.
Read more about Bactiguard: www.bactiguard.com
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