Vitrolife Ab · OMXSTO:VITR
Vitrolife Ab — Q4 2022 Earnings Presentation
13 slides from Vitrolife Ab's earnings presentation, Feb 2, 2023
Slide 1: Fourth Quarter and Full Year report / 2022
Fourth Quarter and Full Year report / 2022 2023-02-02 Vitrolife AB (publ) Thomas Axelsson, CEO Patrik Tolf, CFO
Slide 2: Strong profitable growth
Strong profitable growth Fourth quarter Sales Organic growth* Adjusted gross margin 855 MSEK +11% 56.5% +66% in SEK In local currencies (56.9 % Pro forma) EBITDA EBITDA per share Operating cash flow 273 MSEK 2.02 SEK 166 MSEK Margin 31.9% (27.8% Pro forma) +196% (0 MSEK) Full year 2022 Sales Organic
Slide 3: Sales and growth per market region
Sales and growth per market region Total Q4 growth rate (local currencies) 81% 31% 32% 56% 48% Organic growth (local currencies) 8% 2% 21% 29% 11% Growth pro forma* (local currencies) 1% 6% 15% 24% 7% Sales (MSEK) 303 316 138 98 855 Share of Vitrolife 35% 37% 16% 12% Group’s sales 3 * Pro forma: Exc
Slide 4: Consumables business area
Consumables business area 23% 348 349 334 10% In local currencies 307 280 284 284 243 -1% 1% Americas EMEA 32% 27% Asia Japan Pacific Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 Net sales, MSEK 4
Slide 5: Technologies business area
Technologies business area 36% 156 27% In local currencies 141 140 136 122 115 116 102 25% 25% Americas EMEA 16% 46% Asia Japan Pacific Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 Net sales, MSEK 5
Slide 6: Genetic Services business area (pro forma)*
Genetic Services business area (pro forma)* 14% 347 349 337 -2% in local currencies 307 293 283 279 246 -1% 2% Americas EMEA -32% 0% Asia Japan Pacific Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 Net sales, MSEK 6 *Genetic Services excluding business related to Covid-19 tests
Slide 7: Q4 financial highlights
Q4 financial highlights Net sales of SEK 855 million (514), + 66% in SEK MSEK 855 • Positive impact from currencies of SEK 94 million (18%) • Organic growth in local currencies 723 • 11% total sales • 7% pro forma excluding Covid-19 tests • 9% pro forma excluding Covid-19 tests and divested China bu
Slide 8: Operating expenses
Operating expenses MSEK +5% 295 281 Increased expenses • Sales and Marketing activities • Group related projects • Staff and personal cost • Negative exchange rate impact 20 MSEK Decreased expenses • Exploratory research • Group related projects 21Q4 22Q4 Pro forma 21Q4 8
Slide 9: Key financials
Key financials 2022 2021 2021 Q4 Delta Pro forma Full year 2022 Full year 2021 Q4 Q4 Pro forma Sales, MSEK 855 514 723 +132 3,234 1,681 Gross Margin, % 54% 58% 54% - 55% 62% Adj. Gross Margin, %* 57% 60% 57% - 57% 63% Adjusted EBITDA, MSEK** 273 164 201 +72 1,050 645 Adjusted EBITDA, %** 32% 32% 28%
Slide 10: Management comments
Management comments • Vitrolife Group - significant changes done • Time-lapse is becoming standard of care in several markets • Strong profitable growth • A better-balanced company between regions and between business areas 10
Slide 11: Bronwyn Brophy is appointed as new CEO
• Bronwyn Brophy is appointed as new CEO. She will join the company at the latest of 1 August 2023. • The Chairman of the Board, Jón Sigurdsson will assume the position as interim CEO from 1 April 2023. • Board member, Henrik Blomquist, will be the Chairman of the board from 1 April 2023 until the a
Slide 12: Q/A Session
Q/A Session Contact: Thomas Axelsson, CEO, taxelsson@vitrolife.com, +46 31 721 80 01 Patrik Tolf, CFO, ptolf@vitrolife.com, +46 31 766 90 21
Slide 13: 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