Slide 1: Year-End Report 2024 Earnings Call
YEAR-END REPORT 2024 EARNINGS CALL 2025-02-18 – WEDNESDAY FEBRUARY 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: Presenters: Maria Forss, CEO and Jacob Thordenberg, CFO
MARIA FORSS/ PRESIDENT AND CEO JACOB THORDENBERG / CFO 3
Slide 4: Agenda
AGENDA WEDNESDAY FEBRUARY 19, 2025 Summary Q4, 2024 Market Development Financial Performance Q4, 2024 and FY 2024 Business Areas Q4, 2024 and FY 2024 Strategic Priorities and Financial Targets Q&A 4
Slide 5: Summary Q4 2024
Summary 04 2024 th
Slide 6: Summary Q4, 2024
SUMMARY Q4, 2024 Summary Q4, 2024 571 -0.3 Sales levels on par with Q4 2023 NET SALES ORGANIC GROWTH SEK m % Significant improvements in profitability and adjusted EBITDA margin of 25% (increase of 12 pp compared to Q4 2023) 142 25 Ended year with strong cash position ADJUSTED EBITDA ADJUSTED EBITDA
Slide 7: Market Development
Market Development 7
Slide 8: Market Development and sales per geography FY 2024 vs. FY 2023
MARKET DEVELOPMENT Market Development and sales per geography FY 2024 vs. FY 2023 North Asia America Europe 8% (14) 61% (55) 30% (30) Rest of the world 1% (1) Market Development • 2024 has been challenging for our industry and characterized by general market uncertainty and soft demand from primaril
Slide 9: Financial Performance Q4, 2024 and FY 2024
Financial Performance Q4, 2024 and FY 2024 9
Slide 10: Q4 2024 Financial Performance
Q4 2024 FINANCIAL PERFORMANCE NET SALES 571 -0.3 SEK m / ROLLING 12 MONTHS NET SALES ORGANIC GROWTH SEK m % 142 122 ADJUSTED EBITDA EBITDA SEK m SEK m 58 GROSS MARGIN % Consumables & Lab Automation Instruments Services Projects Consumables & Services, percent of total sales 10
Slide 11: FY 2024 vs FY 2023: Sales, Adjusted EBITDA and Cash Flow
FINANCIAL PERFORMANCE FY 2024 vs FY 2023: Sales, Adjusted EBITDA and Cash Flow from Operating Activities Total Sales SEK m Adjusted EBITDA Operational cash flow* % SEK m SEK m 220 20 190 178 2500 18 197 170 158 200 2,010 1,946 16 150 2000 14 130 180 171 110 12 110 1500 160 10.1 10 90 8.5 8 70 1000 1
Slide 12: Sales Development (SEKm)
FINANCIAL PERFORMANCE Sales Development (SEKm) SEK m 600 570 0.1%* 571 500 470 534 • In Q4, our seasonally strongest quarter, 425 sales amounted to SEK 571m 400 • The 2024 has been challenging for our industry and characterized by general 300 market uncertainty and soft demand from primarily Diagnos
Slide 13: Adjusted EBITDA (SEKm) and Margin (%)
FINANCIAL PERFORMANCE Adjusted EBITDA (SEKm) and Margin (%) SEK m % 25% 160 20 142 • Adjusted EBITDA SEK 142m in Q4 i.e., 140 a margin of 25 percent, an increase of 12 pp compared to Q3 2024 15 120 13% • FY 2024, adjusted EBITDA SEK 197m, a margin of 10 percent, an increase of 100 86 1.6 pp, YoY 74
Slide 14: Cash Flow, Working Capital, and Financial Position
FINANCIAL PERFORMANCE Cash Flow, Working Capital, and Financial Position • Cash flow from operating activities, SEK 182m in Q4 Q4 2024 CASH FLOW FROM OPERATING ACTIVITIES • This includes a positive effect from changes in working capital of SEK 43m • Operating receivables increased by SEK 2m 182 SEK
Slide 15: Development in Net Working Capital between Q4 2023 and Q4 2024
FINANCIAL PERFORMANCE Development in Net Working Capital between Q4 2023 and Q4 2024* SEKm 1,400 40.0% • Between Q4 2023 and Q4 2024, NWC decreased from SEK 417m to SEK 375m 1,050 30.0% • Main drivers for this development include: 22.5% 700 20.7% 19.8% 20.5% 19.3% 20.0% • WC Liabilities decreased by
Slide 16: Business Areas Q4, 2024 and FY 2024
Business Areas Q4, 2024 and FY 2024 16
Slide 17: New Business Area structure since Q3 2024
BUSINESS AREAS Q4, 2024 AND FY 2024 New Business Area structure since Q3 2024 LIFE SCIENCE LAB AUTOMATION BIOPRINTING SOLUTIONS 17
Slide 18: Lab Automation, Q4 2024
BUSINESS AREAS Q4, 2024 AND FY 2024 Lab Automation, Q4 2024 122 -17 NET SALES ORGANIC GROWTH SEK m % 19 16 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 18
Slide 19: Lab Automation, FY 2024
BUSINESS AREAS Q4, 2024 AND FY 2024 Lab Automation, FY 2024 Rolling 12 months Net sales and adjusted EBITDA margin 572 14 NET SALES ORGANIC GROWTH SEK m % 93 16 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 19
Slide 20: Life Science Solutions, Q4 2024
BUSINESS AREAS Q4, 2024 AND FY 2024 Life Science Solutions, Q4 2024 344 7 NET SALES ORGANIC GROWTH SEK m % 115 33 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 20
Slide 21: Life Science Solutions, FY 2024
BUSINESS AREAS Q4, 2024 AND FY 2024 Life Science Solutions, FY 2024 Rolling 12 months Net sales and adjusted EBITDA margin 1,009 -7 NET SALES ORGANIC GROWTH SEK m % 161 16 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 21
Slide 22: Bioprinting, Q4 2024
BUSINESS AREAS Q4, 2024 AND FY 2024 Bioprinting, Q4 2024 106 0.7 NET SALES ORGANIC GROWTH SEK m % 29 27 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 22
Slide 23: Bioprinting, FY 2024
BUSINESS AREAS Q4, 2024 AND FY 2024 Bioprinting, FY 2024 Rolling 12 months Net sales and adjusted EBITDA margin 369 -12 NET SALES ORGANIC GROWTH SEK m % 32 9 ADJUSTED EBITDA ADJUSTED EBITDA SEK m MARGIN % 23
Slide 24: Strategic Priorities and Financial Targets
Strategic Priorities and Financial Targets 24
Slide 25: BICO's Four Strategic Priorities
STRATEGIC PRIORITIES BICO’s Four Strategic Priorities LAUNCHED Q4 2023 AND REITERATED DURING CMD 2024: 1. Commercial Excellence 2. Strategic Review 3. People & Culture 4. Operational Excellence 25
Slide 26: BICO Vision and Strategic Agenda
BICO Vision and Strategic Agenda BICO ENABLES AND AUTOMATES Vision THE LIFE SCIENCE LAB OF THE FUTURE Mission Be the first-choice lab automation partner and provider of selected workflows to pharma and biotech Enable end-to-end Further develop Ensure regulatory Provide scientific Increase Strategic
Slide 27: Q&A 2025-02-18
Q&A 27 2025-02-18
Slide 28: 2025-02-18
2025-02-18
Slide 29: Financial Calendar
Financial Calendar MARCH 20, 2025 Annual Report 2024 Contact APRIL 29, 2025 MARIA FORSS, CEO AND PRESIDENT JACOB THORDENBERG, CFO Interim report Q1, 2025 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 MAY 8, 202
Slide 30: 2025-02-18
2025-02-18