Vitrolife Ab · OMXSTO:VITR
Vitrolife Ab — Q1 2023 Earnings Presentation
12 slides from Vitrolife Ab's earnings presentation, Apr 21, 2023
Slide 1: Interim report Q1 / 2023
Interim report Q1 / 2023 2023-04-21 Vitrolife AB (publ) Jón Sigurdsson, interim CEO Patrik Tolf, CFO
Slide 2: Good start to the year
Good start to the year First quarter Sales Organic growth* Adjusted gross margin** 854 MSEK +9% 59.2% +14% in SEK In local currencies (58.2%) EBITDA adjusted for non-recurring costs Earnings per share Operating cash flow 282 MSEK 0.74 SEK 160 MSEK Margin 33.0% (30.4%) +23% (90 MSEK) *Organic growth
Slide 3: Sales and growth per market region in local currencies
Sales and growth per market region in local currencies Americas EMEA APAC Total Organic growth +6% +1% +23% +9% (excl discontinued business) Organic growth (incl discontinued business) +5% -2% +19% +6% Sales (MSEK) 287 319 249 854 Share of total sales 34% 37% 29% 3
Slide 4: Consumables business area
Consumables business area 19% 365 Organic Growth in local currencies 348 349 334 +12% 307 280 284 284 +7% +10% Americas EMEA +15% APAC Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 Net sales, MSEK 4
Slide 5: Technologies business area
Technologies business area 11% 156 157 Organic Growth in local currencies 141 140 +7% 122 115 116 102 -35% -13% Americas EMEA +55% APAC Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 Net sales, MSEK 5
Slide 6: Genetic Services business area (pro forma 2021)
Genetic Services business area (pro forma 2021) 9% 341 348 349 Organic Growth in local currencies* 332 314 308 325 +7% 304 +10% +2% Americas EMEA +6% APAC Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 Net sales, MSEK 6 *Excluding discontinued business Covid-19 and GPDx
Slide 7: Q1 financial highlights
Q1 financial highlights Net sales of SEK 854 million (752), + 14% in SEK MSEK 854 • Positive impact from currencies of SEK 57 million (8%) • Organic growth in local currencies 752 • 6% total sales • 9% excluding discontinued business Gross income of SEK 485 million (419) 485 • Margin of 56.8% (55.7%
Slide 8: Operating expenses
Operating expenses MSEK +14% 326 17 285 +8% • Sales and Marketing activities • Non-recurring staff and personnel cost 309 • Negative exchange rate impact • Exploratory research focus 22Q1 23Q1 8
Slide 9: Key financials
Key financials 2023 2022 Full year 2022 Q1 Q1 Sales, MSEK 854 752 3,234 Gross Margin, % 57% 56% 55% Adj. Gross Margin, %* 59% 58% 57% Adjusted EBITDA, %** 282 228 1,050 Adjusted EBITDA Margin, %** 33% 30% 33% Earnings per share, SEK 0.74 0.60 2.91 Operating cash flow, MSEK 160 90 636 Net Debt / EBIT
Slide 10: Management comments
Management comments • Strong DNA of profitable growth • New structure is up and running – synergies ahead • Our combined competence enhance our value adding product offering to customers • Progress in our operational excellence work • Time-lapse is becoming standard of care in several markets • Prod
Slide 11: Q/A Session
Q/A Session Contact: Patrik Tolf, CFO, ptolf@vitrolife.com, +46 31 766 90 21
Slide 12: 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, ther