Report on Operations 2021: Continuous growth and a new Vitrolife
Vitrolife AB reported strong Q4 2021 results with sales reaching SEK 514 million, a 35% year-over-year increase. Genetic Services, boosted by the Igenomix acquisition, contributed SEK 116 million in December alone. The full year sales totaled SEK 1,681 million, marking a 35% growth, with a net income of SEK 344 million. An adjusted EBITDA margin of 38% reflects solid operational performance, despite currency impacts. The Board proposed maintaining a dividend of SEK 0.80 per share.
- Q4 sales increased by 35% to SEK 514 million.
- Full-year sales reached SEK 1,681 million, representing a 35% increase.
- Acquisition of Igenomix contributed to December sales of SEK 116 million.
- EBITDA for the year was SEK 645 million with a 38% margin.
- Net income decreased to SEK 34 million from SEK 108 million in Q4 2020.
- Currency fluctuations negatively impacted sales and EBITDA by 4% and SEK 20 million respectively.
Insights
Analyzing...
GÖTEBORG, Sweden, Feb. 16, 2022 /PRNewswire/ -- Fourth quarter
- Sales of SEK 514 (382) million, corresponding to an increase of 35 percent in SEK. Consumables increased by 9 percent, Genomics 33 percent, Technology decreased by 12 percent. The organic growth was 4 percent.
- The acquisition of Igenomix was completed the last day of November and is included as division Genetic Services in December 2021.
- Sales in Genetic Services, only for December, were SEK 116 million corresponding to an acquired growth of 30 percent.
- Operating income before depreciation and amortization (EBITDA) was SEK 164 million, adjusted for non-recurring acquisition-related costs of SEK 79 million, corresponding to a margin of 32 percent.
- Net income of SEK 34 (108) million, giving earnings per share of SEK 0.26 (0.99)
Full year 2021
- Sales of SEK 1,681 (1,246) million, corresponding to an increase of 35 percent in SEK. In local currencies Consumables increased by 25 percent, Genomics 49 percent and Technology 34 percent. The organic growth was 30 percent.
- Sales in Genetic Services, only for December, corresponded to an acquired growth of 9 percent.
- Currencies negatively impacted sales with 4 percent.
- Operating income before depreciation and amortization (EBITDA) of SEK 645 million (454), adjusted for non-recurring acquisition-related costs of SEK 101 million, corresponding to a margin of 38 percent (36). Currencies negatively impacted EBITDA with SEK 20 million
- Net income of SEK 344 (288) million, giving earnings per share of SEK 2.97 (2.64)
After the end of the period
- The Board propose a dividend of SEK 108 (87) million, corresponding to SEK 0.80 (0.80) per share.
Gothenburg, February 16, 2022
VITROLIFE AB (publ)
Thomas Axelsson, CEO
CONTACT:
Queries should be addressed to:
Thomas Axelsson, CEO, tel 46 31 721 80 01
Patrik Tolf, CFO, tel 46 31 766 90 21
This information is information that Vitrolife AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 8.00 am CET on February 16, 2022.
This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
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SOURCE Vitrolife AB (publ)
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