Vitrolife AB (publ) - Interim report Q3, 2023: Profitable growth globally despite headwind in the U.S.

Rhea-AI Summary

Vitrolife AB (publ) reports Q3 sales growth of 6% and operating income increase. Gross margin and operating cash flow also improved. However, Americas sales decreased by 8%.

Positive

• Q3 sales increased by 6%, reaching SEK 848 million. Gross margin improved to 55.7%. Operating cash flow increased to SEK 214 million. Net income rose to SEK 122 million.

Negative

• Americas sales decreased by 8% in Q3.

GOTHENBURG, Sweden, Oct. 27, 2023 /PRNewswire/ --

Third quarter 

• Sales of SEK 848 (798) million, an increase of 6%, or 7% excluding discontinued business. In local currencies the growth was 2% and excluding discontinued business 3%.
• Sales, in local currencies and excluding discontinued business, increased by 5% in APAC and 14% in EMEA, while Americas decreased by 8%.
• Sales, in local currencies and excluding discontinued business, increased by 8% in Consumables and 14% in Technologies, while Genetic Services decreased by 5%.
• Gross margin increased to 55.7% (53.6).
• Operating income before depreciation and amortisation (EBITDA) was SEK 287 (276) million, giving an EBITDA margin of 33.9% (34.5). The EBITDA is stronger given the non-recurring income for the quarter last year.
• Operating cash flow increased to SEK 214 million (200).
• Net income increased to SEK 122 (108) million, resulting in earnings per share of SEK 0.90 (0.80).         

First nine months

• Sales of SEK 2,607 (2,379) million, an increase of 10%, or 11% excluding discontinued business. In local currencies, growth was 4% and excluding discontinued business 5%.
• Sales, in local currencies and excluding discontinued business, increased by 15% in APAC and 6% in EMEA, while Americas decreased by 3%.
• Sales, in local currencies and excluding discontinued business, increased by 12% in Consumables and 4% in Technologies, while Genetic Services decreased by 1%.
• Gross margin increased to 56.1% (55.3).
• Operating income before depreciation and amortisation (EBITDA) was SEK 842 (777) million. Adjusted for non-recurring costs, EBITDA was SEK 868 (777) million, giving an EBITDA margin of 33.3% (32.6).
• Operating cash flow increased to SEK 586 million (470).
• Net income increased SEK 328 (321) million, resulting in earnings per share of SEK 2.42 (2.36).

Gothenburg, October 27, 2023
VITROLIFE AB (publ)
Bronwyn Brophy O´Connor, CEO

This disclosure contains information that Vitrolife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 27-10-2023 08:00 CET.

Contact:
Patrik Tolf, CFO, phone +46 (0) 31 766 90 21

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

The following files are available for download:

https://mb.cision.com/Main/1031/3863816/2389611.pdf

Interim report Q3, 2023

 

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SOURCE Vitrolife AB (publ)

FAQ

What was the sales growth in Q3?

Sales increased by 6% in Q3, reaching SEK 848 million.

What was the gross margin in Q3?

The gross margin improved to 55.7% in Q3.

How much did the operating cash flow increase in Q3?

The operating cash flow increased to SEK 214 million in Q3.

What was the net income in Q3?

Net income rose to SEK 122 million in Q3.

How did Americas sales perform in Q3?

Americas sales decreased by 8% in Q3.