BCCOY - BICO Group AB (publ) (CLLKF) Q1 2024 Earnings Call Transcript

2024-05-11 12:45:23 ET

BICO Group AB (publ) (CLLKF)

Q1 2024 Results Earnings Conference Call

May 7, 2024, 04:00 AM ET

Company Participants

Maria Forss – Chief Executive Officer and President

Jacob Thordenberg – Chief Financial Officer

Conference Call Participants

Rickard Anderkrans - Handelsbanken

Ulrik Trattner - Carnegie

Presentation

Maria Forss

Hello. And a warm welcome to everyone for joining BICO's Earnings Call for Quarter One 2024. My name is Maria Forss and I'm the CEO and President of BICO. And together with our CFO, Jacob Thordenberg, I will present our report for the first quarter of 2024.

Let's present today's agenda. Our agenda is divided into five sections before the Q&A section. We will give you a summary of the quarter and highlight significant events from the past quarter and brief you on the communication yesterday about the change in method for impairment test of goodwill, resulting in retroactive impairment of goodwill and other intangible assets. We'll give you a brief comment on the market development and outlook, and thereafter present our financial performance for the quarter, as well as how our business areas performed during quarter one. These sections will be in listening only mode. After the presentation, we'll move to a Q&A where you can participate and ask questions. The operator will be back with further instructions.

This section will be a little more extended for this quarter. And if we take a brief overview of the quarter, it's pleasing to see that we improved our organic growth. However, the mix performance impacted our profitability. We continue to see slower sales in both Academia and Diagnostics. And this hampered both sales levels as well as profitability. Jacob will comment more on the numbers in the financial section. So I will just conclude on a high level.

I will brief you on the strategic review of our current R&D projects and the group product portfolio. This is work that we carry out in preparation for the launch of our updated strategy later this year. I will also brief you on the whistleblower investigations, which we communicated back in March. Jacob will inform you about the discussions with the Council of Swedish Financial Supervision and the retroactive impairment of goodwill and other intangible assets announced yesterday evening.

But before that, I would like to spend a minute on presenting our latest additions to the executive management, Catharina Nordlund and Anders Fogelberg. We welcomed Catharina in April and Anders will join us mid-June. So, yes, those events took place after quarter one, but I think it's worth mentioning during this call. ...

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