BICO Group AB: Publication of BICO Group Year-end report 2023

October-December 2023 (compared with October-December 2022)

• Net sales amounted to SEK 636.6m (665.9) which corresponds to a decrease of 4.4% (increase of 28.3%) compared to the corresponding quarter previous year
• Organic sales growth for the quarter amounted to -4.4% (20.1%)
• The gross margin amounted to 70.2% (71.3%)
• Adjusted EBITDA amounted to SEK 86.1m (69.8) corresponding to a margin of 13.5% (10.5%)
• EBITDA amounted to SEK 95.1m (69.7) corresponding to a margin of 14.9% (10.5%)
• Net profit/loss for the quarter from continuing operations amounted to SEK -877.0m (-217.8) corresponding to earnings per share from continuing operations before and after dilution of SEK -12.42 (-3.29). This was affected by goodwill impairment in Group companies
• Cash flow from operating activities amounted to SEK 162.0m (-69.1)

January-December 2023 (compared with January-December 2022)

• Net sales amounted to SEK 2,249.9m (2,120.8), which corresponds to an increase of 6.1% (68.7%) compared to the corresponding period previous year
• Organic sales growth for the period amounted to 5.8% (29.1%)
• The gross margin amounted to 70.1% (74.8%)
• Adjusted EBITDA amounted to SEK 217.7m (126.2), corresponding to a margin of 9.7% (6.0%)
• EBITDA amounted to SEK 360.4m (15.0) corresponding to a margin of 16.0% (0.7%)
• Net profit/loss for the period from continuing operations amounted to SEK -1,698.0m (-88.1) corresponding to earnings per share from continuing operations before and after dilution of SEK -24.04 (-1.33) This was affected by goodwill impairment in Group companies
• Cash flow from operating activities amounted to SEK 178.4m (-269.4)
• The Board proposes no dividend for 2023

All numbers in the Year-end report refers to continuing operations if not otherwise stated. Ginolis has been classified as discontinued operations from the fourth quarter 2023 with retroactive effect.

Q4 takeaways

• Decline in sales due to slower market in Academia, Diagnostics, and Biotech
• Improved profitability and double-digit EBITDA- and adjusted EBITDA margin
• Maria Forss assumed office as CEO and President on November 20, 2023
• Divestment of the Berlin property completed for SEK 244m
  (sale and leaseback with BICO company SCIENION)
• Agreement signed to develop lab automation solution for 28 MUSD
• Non-cash flow affecting goodwill impairment in group companies: SCIENION, Visikol, and Nanoscribe which amounted to SEK 582m

Significant events after Q4

• Catharina Nordlund appointed as Global Head of HR

Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held later today, on February 20, 2024, at 10:00am CET, at which President & CEO Maria Forss and CFO Jacob Thordenberg will present the year-end report. The presentation will be given in English.

The presentation will be available on BICO's website from 09:00am CET.
https://bico.com/investors/

If you wish to participate via webcast, please use the link below:
Via the webcast you can ask written questions.
https://ir.financialhearings.com/bico-q4-2023

If you wish to participate via teleconference, please register on the link below:
After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=5004043

For further information, please contact:

Maria Forss, President & CEO, BICO Group AB
Phone: EA Isabella Lundin [phone]
E-mail: [e-mail]

Jacob Thordenberg, Chief Financial Officer, BICO Group AB
Phone: [phone]
E-mail: [e-mail]

This information is information that BICO Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-02-20 07:00 CET.

For media inquiries please contact:
BICO Investor Relations:
Phone: [phone]
E-mail: [e-mail]

About BICO
BICO is a leading provider of life science solutions and laboratory automation that enable more efficient development of new treatments with more specificity and less need for animal testing.

The company uses bioconvergence as its operating system, combining advanced technologies with biology to streamline and automate workflows within the pharmaceutical and biopharma industries.

With 46,000+ instruments installed in over 65 countries, BICO products and solutions are found in more than 3,500 laboratories, including the world's top 20 pharmaceutical companies, and have been cited in over 12,000 publications.

Operating through three business areas - Bioprinting, Biosciences and Bioautomation - the BICO Group strives towards the long-term ambition of enabling the reduction of the world's organ shortage and speeding up drug development to create the future of life-saving treatments.

BICO is listed on Mid-Cap, Nasdaq Stockholm under BICO. www.bico.com