Strong cash flow and significant actions to improve profitability within Medtech
"Demand is healthy in the markets and segments where AddLife's companies operate. We can now summarize 2023 as a year with historically strong organic growth of 10%. In the fourth quarter, cash flow improved significantly and net debt decreased by approximately SEK 400 m. Labtech's profitability was high and in Medtech, profitability was generally good, but weighed down by AddVision and Homecare, where we are now implementing significant actions to improve profitability."
Fredrik Dalborg, President and CEO
AddLife's year-end report for Q4 2023 is now available online at the company website. The year-end report can be downloaded in pdf version. Visit reports-en.add.life/year-end-report-q4-2023
1 OCTOBER - 31 DECEMBER 2023 (3 MONTHS)
- Net sales increased by 9% to SEK 2,544 m (2,326). The organic growth, excluding COVID-19 related sales and exchange rate changes, was 9%.
- EBITA increased by 8% to SEK 278 m (258), corresponding to an EBITA-margin of 10.9% (11.1). EBITA include reversed contingent considerations of SEK 46 m (16) and one-off costs of SEK -27 m, adjusted for these the EBITA margin amounted to 10.2% (10.4).
- Depreciation and write-downs of fixed assets amounted to SEK 333 m (193) and include write-downs of SEK 125 m.
- Profit after tax amounted to SEK -41 m (62). The result was affected by one-off costs and write-downs totaling SEK 134 m.
- Earnings per share amounted to SEK -0.34 (0.50). Excluding one-off costs and write-downs the earnings per share amounted to SEK 0.38 (0.38).
- Cash flow from operating activities amounted to SEK 448 m (351).
1 JANUARY - 31 DECEMBER 2023 (12 MONTHS)
- Net sales increased by 7% to SEK 9,685 m (9,084), whereof the acquired growth amounted to 1%. The organic growth excluding, COVID-19 related sales and exchange rate changes, was 10%.
- EBITA decreased by 7% to SEK 1,135 m (1,221), corresponding to an EBITA-margin of 11.7% (13.4). EBITA include reversed contingent consideration amounting to SEK 147 m (101) and one-off costs amounting to SEK -27 m, adjusted for these the EBITA-margin amounted to 10.5% (12.3).
- Profit after tax amounted to SEK 192 m (483). The profit was affected by one-off costs and write-downs totaling SEK 134 m.
- Earnings per share amounted to SEK 1.56 (3.96).
- Cash flow from operating activities amounted to SEK 773 m (909).
- The equity ratio was 39% (38).
- Return on working capital (P/WC) amounted to 50% (61).
- The board proposes a dividend of SEK 0.50 per share.
Stockholm, February 2, 2024
AddLife AB (publ)
For more information, contact;
Fredrik Dalborg, CEO, fredrik.dalborg@add.life, +46 70 516 09 01
Christina Rubenhag, CFO, christina.rubenhag@add.life, +46 70 546 72 22
www.add.life
Video conference
Investors, analysts and the media are invited to a video conference at which CEO Fredrik Dalborg and CFO Christina Rubenhag will present the year-end report. The presentation will be given in English and take about 20 minutes. after which there will be an opportunity to ask questions. The meeting will be recorded and made available online.
AddLife is an independent player in the Life Science industry that offers high-quality products, services and advice to both the private and public sectors, mainly in the Nordic region and rest of Europe. AddLife has about 2,300 employees in some 85 operating subsidiaries. The Group currently has net sales of approximately SEK 9.7 billion. AddLife shares are listed on Nasdaq Stockholm.
This information is information that AddLife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at February 2, 2024 at 07:45 a.m. CET.
