Q3 2024 CellaVision AB Earnings Call Transcript
Key Points
- CellaVision AB (CLVSF) reported strong sales growth in India, contributing positively despite market uncertainties.
- The company achieved an organic growth rate of 9% for the quarter, nearly reaching double digits.
- Gross margin improved from 66% to 68%, attributed to the implementation of price increases.
- CellaVision AB (CLVSF) is progressing well with its strategic partnership with CX, enhancing joint training and marketing activities globally.
- The company is on track with its clinical validation and regulatory process for its bone marrow product, aiming for a 2025 launch in Europe.
- Sales in the Americas declined due to uncertainties in the hospital environment, influenced by political and election-related factors.
- The company experienced a temporary halt in shipments to China, affecting quarterly performance.
- Instrument sales growth was only 6%, which is considered low, particularly impacted by the US market.
- Cash flow appeared weaker compared to the previous year, primarily due to working capital fluctuations.
- R&D expenses increased, driven by clinical trials and development programs, impacting overall expenses.
Thank you very much. And thank you to everybody dialing in to listen in on our comments and presentation of the Q1 report here in our 50-year 2024.
I have our CFO magnus split with me and we're happy to share all the insights that we just published this morning.
So we can go to the first slide where we talk about the quarter in brief. So Q3, we have designated the, the title to the report, Strong Sales in India aid market uncertainties. So, I would say the quota has been characterized by a reasonable Q3. Also, historically, it's not our strongest quota. However, the fluctuations amongst the different regions are distinct. So, we have seen really benefited from very strong growth across multiple markets, but also across essentially all product groups. And then we are up against a weak compare, a favorable compare if you like from, from last year.
Sales have declined in Americas.
We've seen uncertainties play out in the clinical settings around in the hospital environment. So, delays of both
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