Vitrolife AB (publ): Report on Operations 2020: Strong end to a turbulent year

Rhea-AI Summary

Vitrolife AB reported a Q4 2020 sales figure of SEK 382 million, down 7% year-over-year. For the entire year, sales fell to SEK 1,246 million, a 16% decline. The company's EBITDA for Q4 increased to SEK 164 million, marking a 43% margin, while the annual EBITDA dropped to SEK 454 million with a 36% margin. Net income for Q4 was SEK 108 million, leading to earnings per share of SEK 0.99. A dividend of SEK 87 million was proposed. The company also faces a lawsuit over patent infringement.

Positive

• Q4 EBITDA increased to SEK 164 million with a 43% margin.
• Q4 net income improved to SEK 108 million, resulting in earnings per share of SEK 0.99.
• Proposed dividend of SEK 87 million (SEK 0.80 per share).

Negative

• Q4 sales decreased by 7% to SEK 382 million.
• 2020 total sales fell by 16% to SEK 1,246 million.
• Annual EBITDA down by 23% to SEK 454 million with a lower margin of 36%.
• Lawsuit regarding patent infringement in Germany.

GOTHENBURG, Sweden, Feb. 10, 2021 /PRNewswire/ --

Fourth quarter

• Sales amounted to SEK 382 (409) million, corresponding to a decrease of 7 percent in SEK. Sales were unchanged in local currency.
• Operating income before depreciation and amortisation (EBITDA) amounted to SEK 164 (160) million, corresponding to a margin of 43 (39) percent. Fluctuations in exchange rates negatively impacted EBITDA by SEK 21 million.
• Net income amounted to SEK 108 (96) million, which gave earnings per share of SEK 0.99 (0.89).

Whole year 2020

• Sales amounted to SEK 1 246 (1 480) million, corresponding to a decrease of 16 percent in SEK. Sales decreased by 13 percent in local currency.
• Operating income before depreciation and amortisation (EBITDA) amounted to SEK 454 (587) million, corresponding to a margin of 36 (40) percent. Fluctuations in exchange rates negatively impacted EBITDA by SEK 24 million.
• Net income amounted to SEK 288 (384) million, which gave earnings per share of SEK 2.64 (3.53).

After the end of the period

• The Board proposes a dividend of SEK 87 (-) million, corresponding to SEK 0.80 (-) per share.
• Lawsuit received regarding claimed patent infringement with regard to Time-lapse in Germany.

Gothenburg, February 10, 2021

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 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 February 10, 2021.

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/report-on-operations-2020--strong-end-to-a-turbulent-year,c3283277

The following files are available for download:

https://mb.cision.com/Main/1031/3283277/1370332.pdf

Report on Operations 2020

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SOURCE Vitrolife AB (publ)

FAQ

What were Vitrolife's Q4 2020 sales figures?

Vitrolife's Q4 2020 sales were SEK 382 million, a 7% decrease compared to the previous year.

How much did Vitrolife earn in 2020?

For the full year 2020, Vitrolife reported a net income of SEK 288 million.

What is the proposed dividend for Vitrolife in 2021?

Vitrolife proposed a dividend of SEK 87 million, equating to SEK 0.80 per share.

What was the impact of currency fluctuations on Vitrolife's EBITDA?

Currency fluctuations negatively impacted Vitrolife's EBITDA by SEK 21 million in Q4 2020.

What lawsuit is Vitrolife currently facing?

Vitrolife has received a lawsuit regarding claimed patent infringement related to Time-lapse technology in Germany.