Interim report Q2, 2023: Strong growth in APAC - Vitrolife AB (publ)

Rhea-AI Summary

Vitrolife AB (publ) reported second quarter sales of SEK 905 million, a 9% increase from the previous year. Sales in APAC grew by 19% while sales in the Americas decreased by 6%. Gross margin was 55.8% and operating income before depreciation and amortization (EBITDA) was SEK 293 million.

Positive

• Second quarter sales increased by 9% to SEK 905 million.
• Sales in APAC grew by 19%.
• Gross margin was 55.8%.
• Operating income before depreciation and amortization (EBITDA) was SEK 293 million.

Negative

• Sales in the Americas decreased by 6%.

GOTHENBURG, Sweden, July 14, 2023 /PRNewswire/ -- Second quarter 

• Sales of SEK 905 (829) million, an increase of 9%, or 10% excluding discontinued business. In local currencies the growth was 3% and excluding discontinued business 4%.
• Sales, in local currencies and excluding discontinued business, increased by 19% in APAC, and 3% in EMEA, while sales in Americas decreased by 6%.
• Sales, in local currencies and excluding discontinued business, increased by 17% in Consumables, Technologies decreased by 7% and Genetic Services decreased by 4%.
• Gross margin was 55.8% (56.8), negatively impacted by non-recurring costs of SEK 6 million, giving a run-rate gross margin of 56.5%.
• Operating income before depreciation and amortisation (EBITDA) was SEK 293 (273) million. Adjusted for non-recurring costs, EBITDA was SEK 299 million, giving an EBITDA margin of 33.0% (32.9).
• Operating cash flow increased to SEK 211 million (180).
• Net income was SEK 106 (130) million, including non-recurring costs, resulting in earnings per share of SEK 0.78 (0.96).           

First half year 

• Sales of SEK 1,759 (1,581) million, an increase of 11%, or 13% excluding discontinued business. In local currencies, growth was 5% and excluding discontinued business 6%.
• Sales, in local currencies and excluding discontinued business, increased by 21% in APAC, 2% in EMEA and 0% in Americas.
• Sales, in local currencies and excluding discontinued business, increased by 14% in Consumables, Technologies growth was 0% and Genetic Services increased by 1%.
• Gross margin increased to 56.3% (56.2).
• Operating income before depreciation and amortisation (EBITDA) was SEK 554 (501) million. Adjusted for non-recurring costs of SEK 26 million, EBITDA was SEK 580 (501) million, giving an EBITDA margin of 33.0% (31.7).
• Operating cash flow increased to SEK 372 million (270).
• Net income was SEK 205 (213) million, including non-recurring costs, resulting in earnings per share of SEK 1.52 (1.56).

Gothenburg, July 14, 2023
VITROLIFE AB (publ)
Jón Sigurdsson, interim CEO

This disclosure contains information that Vitrolife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 14-07-2023 08:00 CET.

Contact: 
Patrik Tolf, CFO, phone +46 (0) 31 766 90 21

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

The following files are available for download:

https://mb.cision.com/Main/1031/3804836/2188265.pdf

Interim report Q2, 2023

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SOURCE Vitrolife AB (publ)

FAQ

What were Vitrolife AB's second quarter sales?

Vitrolife AB reported second quarter sales of SEK 905 million.

How much did sales in APAC grow?

Sales in APAC grew by 19%.

What was the gross margin?

The gross margin was 55.8%.

What was the operating income before depreciation and amortization (EBITDA)?

The operating income before depreciation and amortization (EBITDA) was SEK 293 million.