Vitrolife Ab · OMXSTO:VITR
Vitrolife Ab — Q1 2026 Earnings Presentation
19 slides from Vitrolife Ab's earnings presentation, Apr 23, 2026
Slide 1: Vitrolife Group
Slide 2: Conference call presentation: First quarter 2026
Conference call presentation: First quarter 2026 Bronwyn Brophy O’Connor, CEO Pär Ihrskog, CFO Vitrolife AB (publ) 2026-04-23 2
Slide 3: Reproductive health market
Reproductive health market MARKETS CUSTOMERS COMPETITORS • European cycles stable • Consolidation continuing • Supply issues from with chains expanding their competitors in parts of the • Cycle growth rate increasing footprint in all regions Consumables portfolio in North America after a slow start
Slide 4: Q1 /2026 Highlights
Q1 /2026 Highlights Americas Gross Margin Consumables Sales 59.9% Sales 11%* 9%* 4 * organic growth in local currencies
Slide 5: Sales and growth per geographical segment
Sales and growth per geographical segment Americas EMEA APAC Total Organic growth* +11% -1% +7% +5% Sales (MSEK) 264 312 232 807 Share of total sales 33% 38% 29% 5 * in local currencies
Slide 6: Market region EMEA
29% EMEA Market region EMEA 38% 33% Share of revenue Net sales, MSEK 383 Organic growth*-1% 355 -7% in SEK 328 334 326 333 • Robust growth in Europe offset by declines in 309 312 the Middle East due to lower cycle volumes. • Sales in Consumables were flat, the M.E. impacting the regions' performance
Slide 7: Market region Americas
29% Market region Americas 38% 33% Americas Share of revenue Net sales, MSEK 316 311 -2% in SEK 295 299 Organic growth*+11% 273 270 276 264 • A very strong performance across the entire portfolio in our key focus market of North America. • Sales in Consumables increased by 16%* driven by share gains
Slide 8: Market region APAC
APAC 29% Market region APAC 38% 33% Share of revenue Net sales, MSEK -3% in SEK Organic growth*+7% 270 266 265 259 250 250 • Higher market growth than we have seen for 238 232 several quarters, partially due to a low Q1 in 2025. • Consumables grew by 15%*with a strong performance across the portfoli
Slide 9: Progress on strategy execution
Mission: Be the leading global partner in reproductive health striving for better outcomes for patients Progress on strategy execution ✓ Driving profitable growth through improved market and customer segmentation. Growth ✓ Gaining share by leveraging the full Vitrolife Group portfolio. ✓ Acceleratin
Slide 10: Q1 financial highlights
Q1 financial highlights MSEK 842 807 Net sales of 807 MSEK • -4% growth in SEK 483 483 Gross income of 483 MSEK • Margin of 59.9% (57.4%) EBITDA of 251 MSEK 251 257 • EBITDA Margin of 31.1% (30.6%) • The increase in margin was driven by product and market mix. 26Q1 25Q1 26Q1 25Q1 26Q1 25Q1 Net sales
Slide 11: Net Sales Q1 2025 vs Q1 2026
Net Sales Q1 2025 vs Q1 2026 -4% 842 5% -9% 807 Net sales of 807 MSEK • Organic growth in local currencies +5% • Currency effect -9% • -4% growth in SEK • Strong Growth in Americas +11 and APAC +7. EMEA growth -1% impacted by the Middle East crisis. Net Sales Q1 25 Organic Growth Currency Net Sales
Slide 12: Gross Margin Development last 5 quarters
Gross Margin Development last 5 quarters +2.5 pp 59,9% 58,9% 58,6%* • One of the strongest quarters in gross 58,0% margin performance at 59.9% due to a 57,4% strategic focus on key markets and product Group • Strong Sales in Technologies and Consumables • Strong Sales in APAC Q1 -25 Q2 -25 Q3 -25 Q4
Slide 13: Geographical segments
Geographical segments Americas EMEA APAC Total Sales (MSEK) 264 312 232 807 Gross income (MSEK) 148 192 143 483 Gross margin % 56.1% (53.7) 61.7% (59.5) 61.7% (58.4) 59.9% (57.4) Market contribution (MSEK) 68 121 101 290 Contribution margin % 25.9% (25.3) 38.8% (39.2) 43.4% (42.4) 35.9% (35.6) 13
Slide 14: OpEx Development last 5 quarters
OpEx Development last 5 quarters 0% 368 377* 348 333 334 • Reduction in OpEx vs the last three quarters, flat vs Q1 2025 • The restructuring programme is on track. Limited impact in Q1, with savings starting in Q2 and largely realised by end-Q3 2026 Q1 -25 Q2 -25 Q3 -25 Q4 -25 Q1 -26 * Excluding imp
Slide 15: OpEx development Q1-25 vs Q1-26
OpEx development Q1-25 vs Q1-26 6 2 • OPEX remains flat in SEK YoY. 18 11 • Increases in sales and marketing expenses are 333 334 in line with strategic investments to enhance sales and marketing capabilities in the US. • Administrative Expenses: Related to IT spending • Higher R&D spending has been
Slide 16: Cash flow Q1 2026
Cash flow Q1 2026 36 95 17 172 Cash from operation 172 MSEK (69) 44 Investments 130 128 • Ongoing investment in new production facilities in Gothenburg 66 • R&D investment in Product Development 61 Financing Activities • Repayment of loans Inc. after Non Cash Paid taxes Change Cash flow Investments
Slide 17: MSEK 2026 Q1 2025 Q1
MSEK* 2026 Q1 2025 Q1 Sales 807 843 Gross margin, % 59.9 57.4 EBITDA 251 257 EBITDA margin, % 31.1 30.6 Net income 101 100 EPS, SEK 0.74 0.74 Operating cash flow 172 69 Net Debt / EBITDA rolling 12m 0.6 0.7 Proposed dividend, SEK 1.10 1.10
Slide 18: Q&A
Q&A Contact: investors@vitrolife.com 18
Slide 19: 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