Vitrolife Ab · OMXSTO:VITR
Vitrolife Ab — Q3 2026 Earnings Presentation
21 slides from Vitrolife Ab's earnings presentation, Oct 22, 2026
Slide 1: Excellence
EXCELLENCEd
Slide 2: Conference Call Presentation: Third quarter 2026
CONFERENCE CALL PRESENTATION: Third quarter 2026 Bronwyn Brophy O’Connor, CEO Pär Ihrskog, CFO Vitrolife AB (publ) 2026-10-22
Slide 3: Q3 2026 highlights
Q3 2026 highlights HIGH GROW TH IN RESTRUCTURING STRONG EARNINGS TECHNOLOGIES PROGRAMME ON PER SHARE PLAN AND ON TIME 21% organic growth, 8% gross reduction in SEK 0.94 (0.75) driven by all regions headcount Driven by improved net income and share repurchases programme 3
Slide 4: Market overview
Market overview EM EA APAC AMERICAS • European IVF cycle activity • China: IVF cycles down versus • Highest cycle growth of the 3 picked up in the quarter. last year. regions. • Middle East patient demand • Other major APAC markets • U.S. market is moving towards remains subdued but there are trendi
Slide 5: Market region EMEA
Share of revenue Market region EMEA 29% 38% EMEA 33% Net sales, MSEK 333 333 340 312 319 320 309 300 280 Organic growth*+11% 260 62,0% 61,7% 61,9% 61,2% 240 58,5% • Europe growing strongly and signs that the Middle East 220 expects a return of cycles with capital sales increasing in 200 the region.
Slide 6: Market region Americas
Share of revenue Market region Americas 29% 38% 33% Net sales, MSEK Americas 299 300 292 292 276 264 Organic growth*+5% 250 57,8% • Double digit growth in North America, with a good 55,7% 56,1% 54,0% 55,1% performance across the entire portfolio. In South America, 200 the strategic exit from low-pro
Slide 7: Market region APAC
Share of revenue Market region APAC APAC 29% 38% 33% Net sales, MSEK 259 260 260 250 245 240 232 Organic growth +2% 220 200 60,4% 61,7% 61,2% 61,1% • Sales* in the APAC region increased by +2% overall. 59,9% 180 • A soft quarter for Consumables with -5% organic growth due to weak demand in China & t
Slide 8: Mission: Be the leading global partner in reproductive health
Mission: Be the leading global partner in reproductive health striving for better outcomes for patients Increasing the penetration and utilisation of EmbryoScope® across all regions Profitable Growth Our key focus market of North America continues to deliver double digit growth In Genetics our
Slide 9: Financial highlights
Financial highlights Pär Ihrskog Group CFO
Slide 10: Geographical segments
Geographical segments Americas EMEA APAC Total Sales (MSEK) 292 333 260 884 Gross income (M SEK) 161 203 159 523 Gross margin % 55.1% (54.0) 61.2% (62.0) 61.1% (60.4) 59.2% (58.9) M arket contribution (M SEK) 86 126 111 323 Contribution margin % 29.3% (26.0) 38.0% (39.9) 42.8% (42.1) 36.5% (36.0) 10
Slide 11: Q3 financial highlights
Q3 financial highlights MSEK 884 Net sales of 884 MSEK 835 • 6% growth in SEK* Gross income of 523 MSEK • Margin of 59.2% (58.9%) 523 492 EBITDA of 279 MSEK • EBITDA Margin of 31.6% (30.3%) • The margin increase was driven by higher 279 sales and improved gross margins. 253 26Q3 25Q3 26Q3 25Q3 26Q3 2
Slide 12: Net sales and EBITDA margin, last 5 quarters
Net sales and EBITDA margin, last 5 quarters M SEK and EBITDA in % of Net Sales 891 884 857 835 807 34.4% 30.3% 31.1% 31.6% 28.2% Q3 -25 Q4 -25* Q1 -26 Q2 -26 Q3 -26 12 * Excluding restructuring reserve of 55 MSEK. Q4 -25 and Q1 -26 derived from reported full-year and half-year figures. Source: Vitr
Slide 13: Net sales Q3 2025 vs Q3 2026
Net sales Q3 2025 vs Q3 2026 Net sales of 884 MSEK +6% 900 +6% -2% +2% 884 • Organic growth in local currencies -2% +2% excluding exited business was +6% +6% 850 835 • Exited business effect - NACE & 800 GPDx effect was -2% 750 • Currency effect +2% 100 • Total Growth in SEK +6% growth 50 0 Net Sale
Slide 14: Gross margin development, last 5 quarters
Gross margin development, last 5 quarters 60,3% 59,9% 59,2% • Positive impact - US tariff refund of 9 58,9% MSEK 58,6%* • A lower Genetic Services share had a small positive mix effect. • Negative impact from higher material costs, combination of USD-purchased materials and general cost inflation. •
Slide 15: Operating expenses development, last 5 quarters
Operating expenses development, last 5 quarters M SEK and in % of Net Sales 377* 348 345 334 320 • Operating expenses decreased by SEK 3 million to SEK 345 (348) million • Savings from the restructuring programme 42,3% were offset by higher bad debt provisions 41,7% 41,4% 39,0% 37,3% and inflation-dr
Slide 16: Status update restructuring programme
Status update restructuring programme • Programme on plan and on time, with most of the planned activities delivered by the end of Q3 2026 as communicated in December 2025. Target scope: • Exit of GPDx, NACE and low-profit markets within genetic services, representing around 2–3% of Group revenue; ap
Slide 17: Cash flow from operating activities by quarter
Cash flow from operating activities by quarter 255 224 • Operating cash flow was SEK 224 (255) million, a decrease of SEK 31 million. 172 160 • Working capital contributed SEK -5 140 (37) million, a SEK 42 million decline and the main reason for lower cash flow. • Tax payments increased to SEK 46 (30)
Slide 18: Status update share repurchase programme
Status update share repurchase programme • Up to SEK 500 million approved by the Board, from 17 July 2026 until the 2027 AGM, complementing dividends. • SEK 246 million repurchased in Q3 (2,695,000 shares); treasury holdings at approximately 2.0% of outstanding shares on 30 September. • Programme co
Slide 19: Key financials
Key financials M SEK* 2026 Q3 2025 Q3 Sales 884 835 Gross margin, % 59.2 58.9 EBITDA 279 253 EBITDA margin, % 31.6 30.3 EBITA margin, % 28.9 27.6 Net income 124 102 EPS, SEK 0.94 0.75 Operating cash flow 224 255 Net Debt / EBITDA rolling 12m 0.8 0.7
Slide 20: Q&A
Q&A Contact: investors@vitrolife.com 20
Slide 21: Disclaimer
Disclaimer This presentation may contain estimates and forward-looking statements, which reflect the Management’s current views with respect to the market, certain future events and financial performance. Although the statements are based upon estimates the Management believes to be reasonable, there