Q2 2024 Devyser Diagnostics AB Earnings Call Transcript
Key Points
- Sales growth of 41% in SEK and 40% in local currency, marking the highest growth for a single quarter since the company was listed.
- Record sales of SEK53.2 million for Q2 2024, surpassing the previous record.
- Strong performance in various regions: EMEA grew by 32%, Asia Pacific by 26%, and North and South America by 166% over the last 12 months.
- High gross margins, increased from around 75% to around 85% due to scalable production processes and price increases.
- Expansion of the agreement with Thermo Fisher to cover global territory, enhancing market reach and cost synergies.
- EBIT for the quarter was minus SEK23 million, compared to minus SEK14 million in the same quarter last year.
- Negative impact on cost of goods sold by SEK3 million due to the move to a new production facility.
- Increased administrative costs due to double rent for new and old premises, adding SEK3 million in additional rent costs per quarter during 2024.
- Higher costs for incentive programs due to positive share price development, amounting to SEK2 million during the quarter.
- Flat development in North America attributed to uneven purchasing patterns and a limited customer base.
Again, welcome to the Devyser Q2 2024 earnings calls. It's a great pleasure to have you all here. This is the first time we publish our Q2 results in July earlier end of August, and that's something I'm very proud of. Today you will listen to me Fredrik Alpsten, the Devyser CEO; and Theis Kipling, our Chief Commercial Officer; and responsible for business development. I have also asked our CFO, Sabina Berlin will join us during the Q&A session.
A lot of positive things are happening in the company. Those of you who follow us more closely may have seen a record number of positive press releases during the quarter. The sales from bond tenders, et cetera, and informed about this published press releases are not yet reflected in Q2 numbers. You will see that later.
Today, we embark on a journey to our Q2 results. The second part of the presentation will be dedicated to highlighting the key achievements from the quarter and discussing our commercial outlook. Sales developed very well during the quarter and amounted to
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