Slide 1: Interim Report Q2 2025 Earnings Call
INTERIM REPORT Q2 2025 EARNINGS CALL 2025-08-19 – TUESDAY AUGUST 19, 2025
Slide 2: Disclaimer
DISCLAIMER You must read the following before continuing. The fol- for publication, release or distribution in the United affect the extent to which a particular projection is real- lowing applies to this document and the information pro- States, the United Kingdom, Australia, Canada or Japan, ised.
Slide 3: Agenda
Agenda August 19, 2025 Summary of the Quarter Group Financial Performance Lab Automation Life Science Solutions Maria Forss Jacob Thordenberg Concluding Remarks President & CEO CFO Q&A 3
Slide 4: Summary of the Quarter
Summary of the Quarter 44
Slide 5: Q2 2025 – Key Take Aways
Q2 2025 – Key Take Aways • BICO entered an agreement to divest MatTek and Visikol to Sartorius for USD 80m on cash and debt free basis, significantly strengthening the balance sheet • Fewer project starts and project delays in the business area Lab Automation impacted the quarter negatively, as the
Slide 6: Q2 2025 – Summary
Q2 2025 – Summary CASH FLOW FROM NET SALES ADJUSTED EBITDA OPERATING ACTIVITIES SEK 324m SEK -49m SEK -28m ADJUSTED EBITDA ORGANIC GROWTH NWC/LTM SALES MARGIN -17% -15% 11% All numbers in this report refer to continuing operations if not otherwise stated. Ginolis, Nanoscribe, MatTek and Visikol have
Slide 7: Divestment of MatTek and Visikol to Sartorius closed as of July 1
Divestment of MatTek and Visikol to Sartorius closed as of July 1 • This divestment follows our updated strategy with a focus on lab automation and selected workflows • The proceeds from the transaction will be used to strengthen our balance sheet • Sartorius acquired 100 percent of the shares in bo
Slide 8: Group Financial Performance
Group Financial Performance 88
Slide 9: Sales Development (SEKm)
Sales Development (SEKm) SEKm -23%* 600 • Sales amounted to SEK 324m and 515 generated negative organic sales 500 growth of 23 percent 423 • The deviation between total sales- 400 and organic growth of 6 p.p., is 369 explained by Fx effects (weaker USD 335 324 vs SEK) 300 • Flat sales in Life Scienc
Slide 10: Adjusted EBITDA (SEKm) and Margin (%)
Adjusted EBITDA (SEKm) and Margin (%) SEKm % 140 30 127 120 25% 25 • Adjusted EBITDA SEK -49m in Q2 100 20 i.e., a margin of negative 15 percent 80 15 • Adjusted EBITDA was impacted by the development in Lab 60 10 Automation 40 5% 5 • Continued clear focus on structural 23 2% cost reductions and tig
Slide 11: Q2 Cash Flow and Financial Position
Q2 Cash Flow and Financial Position • Cash flow from operating activities, SEK -28m • This includes an effect from changes in working capital of SEK 29m • Operating receivables increased by SEK 9m • Inventories decreased by SEK 8m • Operating liabilities increased by SEK 29m • Total cash flow during
Slide 12: Development in Net Working Capital between Q2 2024 and Q2 2025
Development in Net Working Capital between Q2 2024 and Q2 2025 • Between Q2 2024 and Q2 2025, SEKm NWC decreased from SEK 430m 1,400 40.0% to SEK 169m • Main drivers included: 1,050 30.0% • WC Liabilities increased by 23.6% SEK 45m 21.6% 700 20.2% 20.0% WC Liabilities • Inventories decreased from Ot
Slide 13: Lab Automation
Lab Automation 1313
Slide 14: New Business Areas from Q2 2025
New Business Areas from Q2 2025 LAB AUTOMATION LIFE SCIENCE SOLUTIONS 14
Slide 15: Lab Automation Products and Solutions in both Business Areas
Lab Automation Products and Solutions in both Business Areas MANUAL SEMI-AUTOMATED AUTOMATED FULLY AUTOMATED INTEGRATED Revolve BIO X6 C.WASH Plus I.DOT BioShake CellenOne S100 C.STATION Green Button Go Lab Experience, Scheduler Lab Experience Lab Experience Scheduler Scheduler & Orchestrator Suite
Slide 16: Q2 2025 – Lab Automation
Q2 2025 – Lab Automation Rolling 12 months Net sales and adjusted EBITDA margin 48 -58 NET SALES ORGANIC GROWTH SEK m % -56 -116 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % Impacted by large order won in December 2023. 16
Slide 17: Lab Automation: Project delays resulted in re-estimation of remaining project hours
Lab Automation: Project delays resulted in re-estimation of remaining project hours Net Sales (SEKm) Due to delays in closure of projects, re-estimation of 140 remaining project hours has • Fewer project starts and project delays 130 been concluded resulting in a negative impact of SEK 40m 120 • Due
Slide 18: Lab Automation: Background, Status, and Actions
Lab Automation: Background, Status, and Actions Where Where Where we are we are we are coming today headed from Rapid growth and large demand As strong demand continues, steps are outpaced internal processes, impacting underway to free up capacity and better scalability and project delivery balance
Slide 19: Transformative Actions to Scale up Biosero
Transformative Actions to Scale up Biosero We are now executing a comprehensive action plan and significantly enhancing processes, leadership, and operational capabilities: Strengthened management and executive resources on-site at Biosero’s HQ in San Diego. Increased contract stringency and employe
Slide 20: Life Science Solutions
Life Science Solutions 20 20
Slide 21: Q2 2025 – Life Science Solutions
Q2 2025 – Life Science Solutions Rolling 12 months Net sales and adjusted EBITDA margin 277 1 NET SALES ORGANIC GROWTH SEK m % 19 7 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 21
Slide 22: Q2 2025 – Life Science Solutions
Q2 2025 – Life Science Solutions • Within Life Science Solutions, the performance of our companies differed depending on the market and customer base • Academia, especially, saw a softer quarter, due to the macro development in the US • However, it is encouraging to see that the diagnostic market is
Slide 23: Concluding Remarks
Concluding Remarks 23 23
Slide 24: Q&A
Q&A 24
Slide 25: 2025-08-19
2025-08-19
Slide 26: Contact
Contact MARIA FORSS, CEO AND PRESIDENT JACOB THORDENBERG, CFO BICO GROUP AB BICO GROUP AB Phone: EA Isabella Lundin, +46 735 15 99 64 Phone: +46 73 534 88 84 E-mail: mf@bico.com E-mail: jt@bico.com Financial Calendar BICO enables and automates the life science NOVEMBER 4, 2025 lab of the future Inte