| Imagery Source: BICO Group AB |
| Information Source: BICO Group AB |
| A transformative quarter to secure long-term growth and profitability |
| Q2 2025 takeaways |
- BICO entered an agreement to divest MatTek and Visikol to Sartorius for USD 80m
on a cash and debt-free basis, significantly strengthening the balance sheet
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- Macroeconomic headwinds and uncertainties remain persistent. NIH funding cuts and tariff turbulence have led to hampered demand and delayed CapEx investments
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- Mixed performance in Life Science Solutions with growth in line with peers. Soft market for instrument companies catering to Academia, while SCIENION showed healthy growth and profitability
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- Fewer project starts and project delays in the business area Lab Automation impacted the quarter negatively, as the organisational capacity has been outpaced by the high demand for Biosero’s market-leading solutions. To scale the business model and unlock the full potential in the growing lab automation market, leadership and process changes are being implemented in Biosero.
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| April-June 2025 (compared with April-June 2024) |
- Net sales amounted to SEK 324.2m (423.3), which corresponds to a decrease of −23.4% compared to the corresponding quarter previous year.
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- Organic sales growth for the quarter amounted to −17.0% (1.3%).
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- The gross margin amounted to 43.9% (52.3%)
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- Adjusted EBITDA amounted to SEK −48.8m (22.9), corresponding to a margin of −15.1% (5.4%)
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- EBITDA amounted to SEK −52.5m (13.4), corresponding to a margin of −16.2% (3.2%)
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- Net profit/loss for the quarter from continuing operations amounted to SEK −181.7m (−81.2), corresponding to earnings per share from continuing operations after dilution of SEK −2.55 (−1.14)
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- Cash flow from operating activities amounted to SEK −28.2m (−50.9)
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| January-June 2025 (compared with January-June 2024) |
- Net sales amounted to SEK 659.0m (842.9), which corresponds to a decrease of −21.8% compared to the corresponding period previous year
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- Organic sales growth for the period amounted to −19.4% (3.3%).
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- The gross margin amounted to 50.4% (49.1%)
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- Adjusted EBITDA amounted to SEK −69.0m (8.1), corresponding to a margin of −10.5% (1.0%)
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- EBITDA amounted to SEK −73.9m (−8.7), corresponding to a margin of −11.2% (−1.0%)
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- Net profit/loss for the period from continuing operations amounted to SEK −417.1m (−99.8), corresponding to earnings per share from continuing operations after dilution of SEK −5.87 (−1.39)
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- Cash flow from operating activities amounted to SEK 48.4m (−68.2)
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| “As we close the second quarter, macroeconomic headwinds and uncertainties remain persistent. Specifically, cuts in NIH funding in the US have, along with the ongoing tariff turbulence, introduced further uncertainty and led to hampered demand and delayed CapEx investments. We have continued the transformation of BICO in line with our updated strategy launched at the Capital Markets Day in September 2024. The divestments of MatTek and Visikol, which closed after the end of the quarter, will significantly strengthen our balance sheet. It will also increase our focus towards lab automation and selected workflows where lab automation products and solutions can be found in both our business areas. Fewer project starts and project delays in the business area Lab Automation impacted the quarter negatively, as the organisational capacity has been outpaced by the high demand for Biosero’s market-leading solutions. To unlock the full potential in the growing lab automation market, leadership and process changes are implemented to scale the business”, says Maria Forss, President and CEO, BICO Group AB. |
| Significant events after Q2 2025 |
- BICO completed the transaction of divestment of MatTek and Visikol after customary regulatory approval was obtained. Following transaction costs, net debt and working capital adjustments, net proceeds amounted to USD 77.2m
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- BICO completed a repurchase of convertible bonds to a nominal value of SEK 98m
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| For the full document, click the link below |
| BICO Group AB |
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