Vitrolife AB (publ): Fourth quarter and full year report, 2023; continued growth with margin expansions
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 ofSEK -30.86 (0.55). Excluding the impairment charge, net income increased toSEK 121 million (73), giving earnings per share ofSEK 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 ofSEK -28.44 (2.91). Excluding the impairment charge, net income wasSEK 449 million (394), giving earnings per share ofSEK 3.31 (2.91).
Dividend
- The Board to propose to the Annual General Meeting a dividend of
SEK 135 (115) million, corresponding toSEK 1.00 (0.85) per share. The proposed dividend is based on exclusion of the non-cash impairment charge.
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This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
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Fourth quarter and full year report 2023 |
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