BICO Group AB

BICO

Equity

ISIN SE0013647385 / Valor 51871100

NASDAQ Nordic Exchange Stockholm, Equities (2024-09-18)

SEK 44.00-5.25%

BICO Group AB
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About company

BICO Group AB is a leading company in the life sciences sector, focusing on the development of technologies and products that integrate biology and technology to advance the fields of bioprinting, biosciences, and bioautomation. The company specializes in creating in vitro human tissue models through bioprinting, aiming to reduce both the costs associated with testing and the reliance on animal testing in industries such as cosmetics, chemicals, pharmaceuticals, and household products. In the biosciences area, BICO offers user-friendly instruments designed to enhance efficiency and speed across various application areas. Additionally, the company is involved in bioautomation, where it works on accelerating the development and manufacturing of diagnostic and bioanalysis test platforms. BICO Group AB operates through several subsidiaries, each contributing to the company's mission to address the global organ shortage and expedite drug development by making life science solutions more accessible.

Summarized from source with an LLMView SourceSector: Technology

Net Sales Growth

BICO Group AB reported net sales of SEK 510.3 million for Q1 2024, reflecting a 4.4% increase compared to SEK 488.7 million in Q1 2023. This growth was driven by a 4.7% organic sales increase, marking a significant improvement from the -1.1% organic growth in the same quarter last year.

Gross Margin Decline

The gross margin for BICO Group AB in Q1 2024 was 45.1%, down from 51.5% in Q1 2023. This decline is attributed to changes in the product mix and the company's shift to functional reporting, which has adjusted comparable numbers.

Adjusted EBITDA

BICO Group AB's adjusted EBITDA for Q1 2024 was SEK -9.0 million, corresponding to a margin of -1.8%. This is a significant decrease from the adjusted EBITDA of SEK 26.1 million and a margin of 5.3% reported in Q1 2023, primarily due to softer business in certain segments.

Net Profit/Loss

The net loss for BICO Group AB from continuing operations in Q1 2024 was SEK -29.2 million, an improvement from the net loss of SEK -76.5 million in Q1 2023. This resulted in earnings per share from continuing operations of SEK -0.40, compared to SEK -1.07 in the previous year.

Cash Flow from Operating Activities

For Q1 2024, BICO Group AB reported a cash flow from operating activities of SEK -17.3 million, a significant decline from SEK 60.4 million in Q1 2023. This decrease reflects the challenges faced in the quarter, including mixed sales performance and strategic adjustments.

Summarized from source with an LLMView Source

Key figures

31.2%1Y

-92.1%3Y

-38.5%5Y

Performance

73.0%1Y

105%3Y

88.4%5Y

Volatility