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Interim report Q3, 2022: Actions done and synergies ahead

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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

Contact persons:
Thomas Axelsson, CEO, phone: +46 31 721 80 01
Patrik Tolf, CFO, phone: +46 31 766 90 21

This information is information that Vitrolife AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 am CET on October 27, 2022.

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

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Vitrolife Group is a global provider of medical devices and genetic services. Based on science and advanced research capabilities, we develop services and products for personalized genetic information and medical device products. We are supporting our customers by improving their clinical practice and the outcome of the patient’s fertility treatment. Currently, we are approximately 1,100 people worldwide, headquartered in Gothenburg, Sweden. 

Vitrolife Group’s products and services are available in more than 110 countries, through our own presence in 30 countries and a network of distributors. We are a sustainable market leader and aim to be the preferred partner to the IVF-clinics by providing superior products and services with the vision to fulfil the dream of having a baby. The Vitrolife AB (publ) is listed on Nasdaq Stockholm.
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Vitrolife AB (publ), Box 9080, SE-400 92 Gothenburg, Sweden. Corporate identity number 556354-3452.Tel: +46 31 721 80 00. Fax: +46 31 721 80 99.
E-mail: info@vitrolife.com. Website: www.vitrolife.com.

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