Vitrolife AB Interim report January-March 2022: Building on our strong growth momentum

Rhea-AI Summary

VITROLIFE AB reported a strong first quarter for 2022, with sales reaching SEK 752 million, an increase of 98%. Key drivers included 74% growth from acquisitions and 11% organic growth. All regions saw strong performance, particularly the Americas at 255%. EBITDA rose to SEK 228 million with a margin of 30.4%, while net income was SEK 82 million, down from SEK 119 million year-over-year. Adjusted sales, excluding Covid-related business, increased by 18%.

Positive

• Sales increased by 98% to SEK 752 million.
• Acquired growth accounted for 74% of the sales increase.
• Strong growth in all market regions, particularly the Americas at 255%.
• EBITDA margin at 30.4%.
• Sales adjusted for discontinued Covid business rose by 18%.

Negative

• Net income decreased to SEK 82 million from SEK 119 million.
• Earnings per share fell to SEK 0.60 from SEK 1.09.

GÖTEBORG, Sweden, April 22, 2022 /PRNewswire/ -- First quarter

• Sales of SEK 752 (379) million, corresponding to an increase of 98% in SEK whereof currency effect 13%, acquired growth 74% and organic growth 11%.
• Consumables increased sales by 26% in SEK, Technologies by 4% in SEK, and Genetic Services contributed with sales of SEK 304 million.
• Strong growth in all market regions: Americas 255%, EMEA 85%, Japan Pacific 21% and Asia 19% in local currencies.
• Operating income before depreciation and amortisation (EBITDA) was SEK 228 (163) million, corresponding to a margin of 30.4% (43.0). EBITDA per share increased 13%.
• Net income was SEK 82 (119) million, resulting in earnings per share of SEK 0.60 (1.09).
              
  Pro forma
• Sales, adjusted for discontinuing Covid business, increased by 18% in SEK, and 11% in local currencies.
• EBITDA margin of 30.4% (34.4%).

Gothenburg, April 22, 2022
VITROLIFE AB (publ)
Thomas Axelsson, CEO

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 April 22, 2022.

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Interim report Januaryâ€"March 2022

View original content:https://www.prnewswire.com/news-releases/vitrolife-ab-interim-report-januarymarch-2022-building-on-our-strong-growth-momentum-301530808.html

SOURCE Vitrolife AB (publ)

FAQ

What were VITROLIFE AB's sales figures for Q1 2022?

VITROLIFE AB reported sales of SEK 752 million for Q1 2022, marking a 98% increase.

How much did net income change in Q1 2022 for VITROLIFE AB?

Net income decreased to SEK 82 million in Q1 2022, down from SEK 119 million in the same quarter last year.

What was the EBITDA margin for VITROLIFE AB in Q1 2022?

The EBITDA margin for VITROLIFE AB in Q1 2022 was 30.4%.

How did VITROLIFE AB's sales perform in different market regions in Q1 2022?

Sales in Q1 2022 saw strong growth across all regions, with the Americas at 255%, EMEA at 85%, Japan Pacific at 21%, and Asia at 19%.

What was the organic growth percentage for VITROLIFE AB in Q1 2022?

The organic growth for VITROLIFE AB in Q1 2022 was 11%.