Update on the impact of covid-19 on Vitrolife´s sales
Vitrolife estimates that sales in the second quarter will amount to about 40-50% of the corresponding period last year in local currency and that sales recovery will continue during the rest of the year.
In connection with the interim report for January - March 2020, Vitrolife announced a large reduction in inflow of orders due to covid-19 during the beginning of the second quarter. Sales during the first weeks of April amounted to approximately one third of the corresponding period last year and the company then informed that the second quarter is expected to be very weak. Since the beginning of April, a slow recovery in the number of IVF treatments in the world has been noted, although there are major regional differences. The recovery is driven, among other things, by easing restrictions in many countries, but is limited by, among other things, safety measures at clinics and patients' uncertainty. "We have seen a recovery since the beginning of April and we expect the recovery to continue for the rest of the year, but it is difficult to estimate how quickly IVF clinics will be back in normal operation with treatments," says Thomas Axelsson, CEO of Vitrolife.
The company estimates that the vast majority of patients that now postpone IVF treatments will complete these at a later date. The company estimates that the long-term market outlook is essentially unchanged and Vitrolife therefore expects a continuously expanding market, which in monetary terms is expected to grow by 5-10 per cent per year for the foreseeable future.
Gothenburg, June 3, 2020
VITROLIFE AB (publ)
Thomas Axelsson, CEO
Queries should be addressed to:
Thomas Axelsson, CEO, tel 46 31 721 80 01
Mikael Engblom, CFO, tel 46 31 721 80 14
This information is information that Vitrolife AB 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 above, at 8.30 am CET on June 3, 2020.
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
Vitrolife is an international medical device Group. Vitrolife develops, produces and markets medical devices for assisted reproduction.
Vitrolife has approximately 400 employees and the company's products are sold in about 110 markets. The company is headquartered in Gothenburg, Sweden, and there are also offices in Australia, Belgium, China, Denmark, France, Germany, Italy, Japan, United Kingdom and USA. The Vitrolife share is listed on NASDAQ Stockholm.
Vitrolife AB (publ), Box 9080, SE-400 92 Göteborg, Sweden. Corporate identity number 556354-3452. Tel: 46 31 721 80 00. Fax: 46 31 721 80 99. E-mail: email@example.com. Website: www.vitrolife.com/