Slide 1: Q2 2024 Earnings Call
Q2 2024 EARNINGS CALL – 2024-08-20 TUESDAY AUGUST 20, 2024
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: Maria Forss, President and CEO / Jacob Thordenberg, CFO
MARIA FORSS/ PRESIDENT AND CEO JACOB THORDENBERG / CFO 3
Slide 4: Agenda
AGENDA TUESDAY AUGUST 20, 2024 Summary Q2, 2024 Market Development and Outlook Financial Performance Q2, 2024 Business Areas Q2, 2024 Strategic Priorities Q&A 44 3
Slide 5: Summary Q2, 2024
Summary Q2, 2024 5
Slide 6: Summary Q2 2024
SUMMARY Q2, 2024 Summary Q2 2024 534 -2 NET SALES ORGANIC GROWTH SEK m % Stable sales levels, in line with peers, despite volatile market environment All business areas EBITDA positive during Q2 46 9 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN Additions to the Executive Management % Continuous work
Slide 7: Market Development
Market Development 7
Slide 8: Market Development and sales per geography Q2 2024 vs. Q2 2023
MARKET DEVELOPMENT Market Development and sales per geography Q2 2024 vs. Q2 2023 North Asia America Europe 13% (20) 52% (42) 34% (33) Market Development Rest of the world • The indications of slower business for BICO in the Academia 1% (5) and Diagnostic segments continued during Q2 2024 • Sales in
Slide 9: Financial Performance Q2 2024
Financial Performance Q2 2024 9
Slide 10: Q2 2024 Financial Performance April – June 2024
Q2 2024 FINANCIAL PERFORMANCE APRIL – JUNE 2024 NET SALES 534 -2 SEK m / ROLLING 12 MONTHS NET SALES ORGANIC GROWTH SEK m % 46 36 ADJUSTED EBITDA EBITDA SEK m SEK m 52 -79 GROSS MARGIN % NET PROFIT/LOSS SEK m Services Consumables Net sales excluding consumables and services Share of product revenues
Slide 11: Sales Development (SEKm)
FINANCIAL PERFORMANCE • Q2 showed mixed sales performance Sales Development (SEKm) among our companies, following the same pattern as Q1 and in line with peers SEK m -0.6% • Sales for Q2 amounted to SEK 534m, 700 which corresponds to an organic growth of 637 negative 2 percent compared to Q2 2023 60
Slide 12: Adjusted EBITDA (SEKm) and Margin (%)
FINANCIAL PERFORMANCE Adjusted EBITDA (SEKm) and Margin (%) SEK m % 100 20 • Adjusted EBITDA amounted to 80 16% SEK 46m for Q2 2024, corresponding 14% 15 to a margin of 9 percent 60 • All business areas were EBITDA 94 10 positive in Q2 86 9% 40 • The improvement compared with Q2 LY is explained by l
Slide 13: Comment on Cash Flow, Working Capital and Financial Position
FINANCIAL PERFORMANCE Comment on Cash Flow, Working Capital and Financial APRIL-JUNE 2024 Position CASH FLOW FROM OPERATING ACTIVITIES • Cash flow from operating activities for Q2 amounted to negative SEK 51m -51 • This includes a negative effect from changes in working SEK m capital of SEK 54m • Op
Slide 14: Development in Net Working Capital between Q2 2023 and Q2 2024
FINANCIAL PERFORMANCE Development in Net Working Capital between Q2 2023 and Q2 2024* SEKm • Between Q2 2023 and Q2 2024: NWC 1,400 40.0% decreased from SEK 527m to SEK 519m • Main drivers for this development WC 1,050 30.0% Liabilities include: 24.0% 23.9% • WC Liabilities decreased by SEK 23.1% Ot
Slide 15: Business Areas Q2 2024
15 Business Areas O02 2024
Slide 16: Bioprinting
BUSINESS AREAS Bioprinting APRIL – JUNE 2024 156 -12 NET SALES ORGANIC GROWTH SEK m % 23 15 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 16
Slide 17: Biosciences
BUSINESS AREAS Biosciences APRIL – JUNE 2024 280 7 NET SALES ORGANIC GROWTH SEK m % 23 8 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 17
Slide 18: Bioautomation
BUSINESS AREAS Bioautomation APRIL – JUNE 2024 99 -6 NET SALES ORGANIC GROWTH SEK m % 18 18 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 18
Slide 19: Strategic Priorities
Strategic Priorities 19
Slide 20: Development Strategic Priorities
STRATEGIC PRIORITIES Development Strategic Priorities LAUNCHED Q4 2023 TO PAVE WAY FOR THE UPDATED STRATEGY, BICO 2.0 1. Drive commercial excellence 2. Complete strategic review 3. Invest in people & culture 4. Continue operational excellence initiatives 20
Slide 21: Capital Markets Day Invitation
INVITATION CAPITAL MARKETS DAY SEPTEMBER 17, 2024 21
Slide 22: Q&A 2024-08-20
Q&A 22 2024-08-20
Slide 23: 2024-08-20
2024-08-20
Slide 24: Financial Calendar and Contact Details
Contact details JACOB THORDENBERG, CFO Financial Calendar MARIA FORSS, CEO AND PRESIDENT BICO GROUP AB Phone: +46 73 534 88 84 Phone: EA Isabella Lundin, +46 735 15 99 64 E-mail: jt@bico.com E-mail: mf@bico.com SEPTEMBER 17, 2024 Capital Markets Day 2024 NOVEMBER 13, 2024 Bioconvergence is Enabling
Slide 25: 2024-08-20
2024-08-20