Vitrolife AB (publ): Fourth quarter and full year report, 2023; continued growth with margin expansions

GOTHENBURG, Sweden, Feb. 2, 2024 /PRNewswire/ — 

Fourth quarter 

Sales of SEK 904 (855) million, an increase of 6%. In local currencies the growth was 5%.Sales, in local currencies increased by 16% in APAC and 6% in EMEA, while sales in Americas decreased by 5%. Sales in local currencies increased by 1% in Consumables and 31% in Technologies, while sales in Genetic Services decreased by 2%.Gross margin increased to 56.9% (54.2).Operating income before depreciation and amortisation (EBITDA) was SEK 294 (273) million, giving an EBITDA margin of 32.5% (31.9).Operating cash flow increased to SEK 171 million (166).An impairment charge of SEK 4,300 million is reported as other operating expenses.Net income was SEK -4,179 (73) million, resulting in earnings per share of SEK -30.86 (0.55). Excluding the impairment charge, net income increased to SEK 121 million (73), giving earnings per share of SEK 0.89 (0.55).

Full year

Sales of SEK 3,512 (3,234) million, an increase of 9%, or 10% excluding discontinued business. In local currencies, growth was 4% and excluding discontinued business 5%.Sales, in local currencies and excluding discontinued business, increased by 16% in APAC and 6% in EMEA, while sales in Americas decreased by 3%.Sales, in local currencies and excluding discontinued business, increased by 9% in Consumables and 11% in Technologies, while sales in Genetic Services decreased by 1%.Gross margin increased to 56.3% (55.0).Operating income before depreciation and amortisation (EBITDA) was SEK 1,136 (1,050) million, giving an EBITDA margin of 32.3% (32.5).Operating cash flow increased to SEK 757 million (636).An impairment charge of SEK 4,300 million is reported as other operating expenses.Net income was SEK -3,851 (394) million, resulting in earnings per share of SEK -28.44 (2.91). Excluding the impairment charge, net income was SEK 449 million (394), giving earnings per share of SEK 3.31 (2.91).

Dividend

The Board to propose to the Annual General Meeting a dividend of SEK 135 (115) million, corresponding to SEK 1.00 (0.85) per share. The proposed dividend is based on exclusion of the non-cash impairment charge.

Gothenburg, February 2, 2024
VITROLIFE AB (publ)
Bronwyn Brophy O´Connor, CEO

This disclosure contains information that Vitrolife AB (publ) is obliged to make public pursuant to the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 02-02-2024 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.

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SOURCE Vitrolife AB (publ)