Q3 2024 BICO Group AB Earnings Call Transcript
Key Points
- BICO Group AB (CLLKF) reported a total adjusted EBITDA of SEK40 million for Q3, with all business areas being profitable.
- The company achieved a 26% organic growth year-to-date in lab automation, indicating strong demand for integrated lab automation solutions.
- BICO Group AB (CLLKF) has successfully reduced its net working capital from SEK550 million to SEK456 million, aligning with industry peers.
- The divestment of Nanoscribe is expected to generate a capital gain of approximately 10% above book value, aiding in debt reduction.
- The company has launched a sharpened commercial agenda for CELLINK, focusing on long-term stability and profitability.
- BICO Group AB (CLLKF) experienced a negative organic growth of 13% in Q3, primarily due to a soft market for instrument sales.
- The company reported a net loss of SEK248 million for the quarter.
- Sales in the life science solutions business area declined by 12% organically, impacted by slower diagnostic and academia markets.
- The lab automation segment saw a negative organic growth of 25% in Q3 due to fewer project starts.
- The company is undergoing rightsizing in CELLINK, resulting in a 20% reduction in workforce, which may impact operations.
Hello, and a warm welcome, everyone, to BICO's third earnings call for 2024 where we will present our quarter three 2024 report. My name is Maria Forss, and I'm the President and CEO of BICO, and together with our CFO, Jacob Thordenberg, I will present our report.
Today's agenda is divided into five sections before the Q&A. We will begin to summarize the quarter and highlight significant events. We have also had some recent events, which we will also comment upon, even if they occurred after the end of quarter three. We will further on comment on the market development and thereafter present BICO's quarter three financial performance, as well as deep dive into our business areas performances. This will be followed by a presentation of the development of our strategic priorities, strategic agenda, and financial targets. And these sections will be in listening-only mode.
After the presentation, we invite you to our Q&A session. And the financial hearings host will be back with further instructions. Before presenting a
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