Vitrolife AB (publ) interim report Q2, 2024: Strong Technologies growth and improved margins

Rhea-AI Summary

Vitrolife AB (publ) reported strong Q2 2024 results, with sales reaching SEK 941 million, a 4% increase in both local currencies and SEK. The company saw significant growth in its Technologies business area, up 40% in local currencies. Gross margin improved to 59.9%, while EBITDA increased to SEK 327 million with a margin of 34.7%. Net income rose to SEK 143 million, resulting in earnings per share of SEK 1.06.

Regionally, EMEA led growth at 11%, followed by Americas at 5%, while APAC declined by 5%. Vitrolife also made strategic acquisitions, including EMB's distribution activities and eFertility. The first half of 2024 showed overall positive trends, with improved financial metrics across the board.

Positive

• Sales increased by 4% to SEK 941 million in Q2 2024
• Technologies business area grew by 40% in local currencies
• Gross margin improved to 59.9% from 55.8% in Q2
• EBITDA increased to SEK 327 million with a margin of 34.7%
• Net income rose to SEK 143 million, with earnings per share of SEK 1.06
• Operating cash flow improved to SEK 236 million
• Strategic acquisitions of EMB's distribution activities and eFertility

Negative

• APAC region sales declined by 5% in local currencies
• Genetics business area sales decreased by 7% in local currencies

GOTHENBURG, Sweden, July 17, 2024 /PRNewswire/ --

Second quarter 

• Sales of SEK 941 (905) million, an increase of 4% in local currencies and 4% in SEK.
• Sales per region, in local currencies was -5% in APAC, +11% in EMEA and +5% in Americas.
• Sales growth per business area, in local currencies, was +3% in Consumables, +40% in Technologies and -7% in Genetics.
• Gross margin increased to 59.9% (55.8).
• Operating income before depreciation and amortisation (EBITDA) increased to SEK 327 (293) million, giving an EBITDA margin of 34.7% (32.4).
• Operating cash flow increased to SEK 236 million (211).
• Net income increased to SEK 143 (106) million, giving earnings per share of SEK 1.06 (0.78).
• Vitrolife Group acquired the distribution activities of medical devices from EMB, our Iberian distributor.
• Vitrolife Group acquired eFertility (STB Zorg B.V.).

First half year

• Sales of SEK 1,782 (1,759) million, an increase of 2% in local currencies and 1% in SEK.
• Sales per region, in local currencies was +6% in APAC, +4% in EMEA and -4% in Americas.
• Sales per business area, in local currencies was +8% in Consumables, +23% in Technologies and -10% in Genetics.
• Gross margin increased to 58.6% (56.3).
• Operating income before depreciation and amortisation (EBITDA) increased to SEK 600 (554) million, giving an EBITDA margin of 33.6% (31.5).
• Operating cash flow increased to SEK 434 million (372).
• Net income increased to SEK 258 (205) million, giving earnings per share of SEK 1.91 (1.52).             

Gothenburg, July 17, 2024
VITROLIFE AB (publ)
Bronwyn Brophy O´Connor, CEO

This disclosure contains information that Vitrolife AB (publ) is obliged to make public pursuant to the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 17-07-2024 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.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/vitrolife-ab--publ-/r/interim-report-q2--2024--strong-technologies-growth-and-improved-margins,c4015708

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Interim report Q2, 2024

 

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SOURCE Vitrolife AB (publ)

FAQ

What was Vitrolife's (VTRLY) sales growth in Q2 2024?

Vitrolife reported a 4% sales growth in Q2 2024, reaching SEK 941 million in both local currencies and SEK.

How did Vitrolife's Technologies business area perform in Q2 2024?

Vitrolife's Technologies business area showed strong growth of 40% in local currencies during Q2 2024.

What was Vitrolife's gross margin in Q2 2024?

Vitrolife's gross margin increased to 59.9% in Q2 2024, up from 55.8% in the same period last year.

What acquisitions did Vitrolife make in Q2 2024?

Vitrolife acquired the distribution activities of medical devices from EMB, their Iberian distributor, and also acquired eFertility (STB Zorg B.V.).

How did Vitrolife's regional sales perform in Q2 2024?

In Q2 2024, Vitrolife's sales growth in local currencies was -5% in APAC, +11% in EMEA, and +5% in Americas.