Addlife Ab Class B · OMXSTO:ALIF_B
Addlife Ab Class B — Q1 2025 Earnings Presentation
16 slides from Addlife Ab Class B's earnings presentation, Apr 25, 2025
Slide 1: Interim Report Q1 2025
Interim Report Q1 2025 APRIL 25, 2025
Slide 2: Significant margin improvement and reduced debt level
Significant margin improvement and reduced debt level • Significant EBITA margin improvement in both business areas Labtech 12.1% (11.5%) Medtech 13.5% (11.6%) • Healthy customer demand, sales increased by 5% organic and currency adjusted growth 4% Medtech sales in UK low compared to a very st
Slide 3: Profit & Loss Q1 – strong EBITA growth
Profit & Loss Q1 – strong EBITA growth • Sales growth, +5% Organic growth +4% Acquired growth +1% • Increased revenue with improved gross margin and largely unchanged opex resulted in +18% EBITA growth • Lower interest rates resulted in lower interest costs vs last year (SEK 58m vs 77m) • EBITA-
Slide 4: Positive development of EBITA-margin
Positive development of EBITA-margin EBITA-margin %* 13,0% 12,5% 12,7% • EBITA growth Q1 2025 +18% 12,0% 11,5% 11,5% 11,5% FY 11,3% 11,0% • EBITA-margin 10,5% FY 10,5% 10,0% Labtech 12.1% (11.5) 9,5% 9,0% Medtech 13.5% (11.6) Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 * Excluding reversal of c
Slide 5: Operating cash flow improving
Operating cash flow improving Operating cash flow per quarter Operating cash flow and cash conversion 700 1400 140% 131% 600 1200 120% 118% 500 102% 1000 100% 94% 400 89% 800 79% 80% 80% 72% 76% 300 239 70% 600 60% 200 105 97 400 40% 100 0 200 20% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 0 0% 2023 2024 2025 2016
Slide 6: Cash flow Q1
Cash flow Q1 • Operating cash flow SEK 239m (97) • Working capital SEK -74m (-134) • Increased accounts receivables related to strong sales at the end of the quarter • Fx impact on cash SEK -76m (29)
Slide 7: Change of net debt
Change of net debt • Net debt reduced by SEK 413m in Q1 2025 • Net debt reduction SEK 931m vs Q1 2024 • Majority of loan in EUR – positive Fx impact in the quarter Net debt include: bank loan + leasing liabilities + contingent considerations + pension liabilities + provisions – cash
Slide 8: Net debt and leverage
Net debt and leverage Net debt KPI's • Net debt reduced by SEK 413m in 6 000 4,5 Q1 2025 3,9 3,9 4 3,8 • EBITDA LTM SEK 1,584m (1,440) 5 500 3,7 3,5 3,6 3,6 3,5 3,2 5 000 3 2,8 4 500 2,5 • Net debt / EBITDA 2.8, reached ambition 2 of below 3.0 4 000 1,5 3 500 1,0 1,1 1,1 1,0 1,1 1,0 1,0 0,9 0,9 1 •
Slide 9: Bank loan and covenants
Bank loan and covenants Debt structure, incl utilization of extension options • Variable interest, margin +3m Euribor 3000 2000 • Average interest rate Q1 2025 4.8% 1000 0 Q4 Q1 - Q4 Q1 - Q4 Q1 Q2 Q3 Q4 • Interest cost expected to come down 2024 2025 2026 2027 based on recent interest rate cuts RCF
Slide 10: Labtech Q1
Labtech Q1 • Organic, currency adjusted revenue growth +12%, Acquired growth 3% • EBITA margin improved to 12.1% (11.5) • Activity in diagnostics is stable and growing • Demand in pharma remains high, some hesitation still in academic research investment • Good progress with tenders • Strong servi
Slide 11: Medtech Q1
Medtech Q1 • Positive sales development in most companies Revenues lower in UK compared to a strong Q1 2024 with significant instrument sales, outlook is positive Revenue declined in some areas due to efforts to focus the product portfolio on higher margin products Homecare demand is currently
Slide 12: Previously established priorities remain in 2025
1 PROTECT AND IMPROVE PROFIT Previously established 2 ORGANIC GROWTH priorities remain in 2025 3 CASH FLOW 4 ACQUISITIONS
Slide 13: Acquisition of Edge Medical
Acquisition of Edge Medical APRIL 1, 2025 • Leading distributor of advanced products and services in orthopedic surgery, spine and neurology in UK and Ireland • Fast growing, with sales of approximately GBP 8 million, high margins (>30% EBITDA margin) • The acquisition is in line with the AddLife st
Slide 14: AddLife is well positioned for potential global trade disruptions
AddLife is well positioned for potential global trade disruptions Majority of group supply from Europe • More than 90% of revenue in Europe 100% 9% 7% 100% • More than 80% of suppliers in Europe 90% 84% 80% • Limited exposure to changes in business cycle 70% • Decentralised model: able to quickly ad
Slide 15: Summary and outlook
Summary and outlook • Significant margin improvement • Overall healthy revenue growth • Continuous work to evolve portfolio towards more profitable products MBA SURGICAL EMPOWERMENT partners with CMR Surgical • Cash flow improvement and reduced debt Achieved our ambition to reach Net debt /EBITDA
Slide 16: Q&A
Q&A Q&A APRIL 25, 2025