Interim report Q3, 2022: Actions done and synergies ahead

Cision Publicerad: 27 Oct 2022 08:00

Third quarter

Sales of SEK 798 (406) million, corresponding to an increase of 97% in SEK, whereof acquired growth 75% and currency effect 20%. Sales pro forma, adjusted for business related to Covid-19 tests, increased by 5% in local currencies.
Consumables increased sales by 18% in SEK, Technologies decreased by 5% in SEK, and Genetic Services contributed sales of SEK 348 million.
Including the acquisition, we have strong growth in all market regions. Americas 222%, EMEA 33%, Japan Pacific 88% and Asia 33% in local currencies.
Organic growth in local currency, pro forma, adjusted for business related to Covid-19 tests in Americas was 7%, EMEA -8%, Japan Pacific 32% and Asia 10% in local currencies.
Restructuring costs for Genetic Services of SEK 29 million, whereof SEK 7 million impacted EBITDA and SEK 22 million impacted the financial net.
Operating income before depreciation and amortisation (EBITDA) was SEK 276 (162) million, corresponding to a margin of 34.5% (40.0%) (pro forma 33.9). EBITDA per share increased by 47%.
Net income was SEK 108 (105) million, resulting in earnings per share of SEK 0.80 (0.89).

First nine months

Sales of SEK 2,379 (1,167) million, corresponding to an increase of 104% in SEK, whereof acquired growth 76% and currency effect 17%. Sales pro forma, adjusted for business related to Covid-19 tests, increased by 10% in local currencies.
Consumables increased sales by 23% in SEK Technologies by 10% in SEK, and Genetic Services contributed sales of SEK 993 million.
Including the acquisition, we have strong growth in all market regions. Americas 238%, EMEA 55%, Japan Pacific 60% and Asia 40% in local currencies.
Organic growth in local currency, pro forma, adjusted for business related to Covid-19 tests in Americas was 12%, EMEA 3%, Japan Pacific 18% and Asia 16% in local currencies.
Restructuring costs for Genetic Services of SEK 31 million, whereof SEK 9 million impacted EBITDA and SEK 22 million impacted the financial net.
Operating income before depreciation and amortisation (EBITDA) was SEK 777 (460) million, corresponding to a margin of 32.6% (39.4%) (pro forma 33.7). EBITDA per share increased 39%.
Net income was SEK 321 (310) million, resulting in earnings per share of SEK 2.36 (2.77).

Gothenburg, October 27, 2022
VITROLIFE AB (publ)
Thomas Axelsson, CEO