Vitrolife Ab · OMXSTO:VITR
Vitrolife Ab — Q2 2023 Earnings Presentation
12 slides from Vitrolife Ab's earnings presentation, Jul 14, 2023
Slide 1: Interim report Q2 / 2023
Interim report Q2 / 2023 2023-07-14 Vitrolife AB (publ) Jón Sigurdsson, interim CEO Patrik Tolf, CFO
Slide 2: Strong growth in APAC
Strong growth in APAC Second quarter Sales Organic growth* Gross margin** 905 MSEK +4% 56.5% +9% in SEK In local currencies (56.8%) EBITDA adjusted for non-recurring costs Earnings per share Operating cash flow 299 MSEK 0.78 SEK 211 MSEK Margin 33.0% (32.9%) (0.96 SEK) (180 MSEK) First half year 202
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 (excl discontinued -6% +3% +19% +4% business) Sales (MSEK) 297 314 295 905 Share of total sales 33% 35% 32% 3
Slide 4: Consumables business area
Consumables business area +24% 430 Organic Growth in local currencies +17% 365 348 349 334 307 284 284 +12% +9% Americas EMEA +27% APAC Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 Net sales, MSEK 4
Slide 5: Technologies business area
Technologies business area - 2% 156 157 Organic Growth in local currencies 141 140 138 -7% 122 115 116 -38% -9% Americas EMEA +6% APAC Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 2022 2023 Net sales, MSEK 5
Slide 6: Genetic Services business area
Genetic Services business area - 1% 341 348 349 Organic Growth in local currencies 332 337 308 325 304 -4% -10% +1% Americas EMEA +9% APAC Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2021 (pro forma) 2022 2023 Net sales, MSEK 6 *Excluding discontinued business Covid-19 and GPDx
Slide 7: Q2 financial highlights
Q2 financial highlights Net sales of SEK 905 million (829), + 9% in SEK MSEK 905 • Positive impact from currencies of SEK 49 million (6%) • Organic growth in local currencies 829 +9% • 3% total sales • 4% excluding discontinued business Gross income of SEK 505 million (470) 505 • Margin of 55.8% (56
Slide 8: Operating expenses
Operating expenses MSEK +7% 317 295 • Increased sales and marketing activities • Negative exchange rate impact, approximately half of the increase • Exploratory research focus 22Q2 23Q2 8
Slide 9: Key financials
Key financials 2023 2022 Full year 2022 Q2 Q2 Sales, MSEK 905 829 3,234 Gross Margin, % 55.8% 56.8% 55.0% Adjusted Gross Margin, %* 58.1% 59.1% 57.4% EBITDA 293 273 1,050 EBITDA Margin, % 32.4 32.9 32.5 Adjusted EBITDA ** 299 273 1,050 Adjusted EBITDA Margin, %** 33.0% 32.9% 32.5% Earnings per share
Slide 10: Management comments
Management comments • Strong position in APAC • Scalable manufacturing capabilities • Structural cost focus • Investing in forward integration • Products and services launch will sharpen our customer offer and business opportunities 10
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