Feb 2, 2024   SOURCE: PR NewsWire

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.

The following files are available for download:



     
     https://mb.cision.com/Main/1031/3921322/2579193.pdf Fourth quarter and full year
                                                             report 2023

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SOURCE Vitrolife AB (publ)