BCCOY - BICO Group AB (publ) (CLLKF) Q4 2023 Earnings Call Transcript
2024-02-20 11:52:02 ET
BICO Group AB (publ) (CLLKF)
Q4 2023 Earnings Conference Call
February 20, 2024 4:00 AM ET
Company Participants
Maria Forss – President and Chief Executive Officer
Jacob Thordenberg – Chief Financial Officer
Conference Call Participants
Ulrik Trattner – Carnegie
Rickard Anderkrans – Handelsbanken
Presentation
Maria Forss
Hello, and welcome, everyone, to BICO's Earnings Call for our Quarter Four Report for 2023. We released our interim report earlier today at 7:00 a.m. CET, and my name is Maria Forss, and I'm BICO's CEO and President since November 2023. This is my first report for BICO and together with our CFO, Jacob Thordenberg, I will guide you through our financial performance and shed some light on our strategic priorities for BICO moving forward.
Let's move on to the agenda slide. Our agenda for today is divided into four sections before the Q&A. We will give you a summary of the quarter, the interim financial performance of quarter four and for the full year 2023 as well as our performance per business area. We will also touch upon BICO's strategic priorities. After the presentation, we will move to a Q&A where you can participate and ask questions. The operator will be back with further instructions.
BICO released preliminary quarter four and full year 2023 figures earlier this month on February 14, together with information about the goodwill impairment, which amounted to SEK582 million for the company's SCIENION, Visikol and Nanoscribe. Jacob will elaborate a bit more on this subject later on in the presentation. Sales in quarter four amounted to SEK636.6 million, a decline of 4.4% compared to a very strong quarter four of 2022. This also meant that the positive seasonal effect was weaker compared to the corresponding quarter last year. This can primarily be explained by a decline in sales from Academia, Diagnostics, and Biotech segments, and by a more diverse product mix.
It was pleasing to see that we delivered an adjusted EBITDA which amounted to SEK86.1 million and a double-digit margin of 13.5%. We also divested Ginolis via management buyout in November 2023. And the rationale behind this was that Ginolis didn't manage to transition fast enough to mitigate the post-pandemic downturn. Due to the divestment, Ginolis has been classified as discontinued operations in the financial reporting. And consequently, all the numbers referred to continued operations, except for cash flow numbers, which include Ginolis as well. We're also very proud that Biosero signed the group's largest project to date worth of US$28 million in December. This project consists of delivering lab automation solutions to a global pharma customer....
BICO Group AB (publ) (CLLKF) Q4 2023 Earnings Call Transcript