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Sweden's BICO Q3 sales rise on supply, license agreements

By Reuters News


Overview

  • Sweden life sciences tech firm's Q3 net sales rose 20% yr/yr

  • Q3 adjusted EBITDA margin improved to 26.7% from 4.4% yr/yr

  • Company recorded SEK 296 mln impairment tied to Biosero amid Lab Automation business challenges


Outlook

  • Company to focus commercial resources and R&D on Precision Biology powered by AI

  • BICO to reduce exposure to large-scale integrated Lab Automation projects

  • Company says financial targets remain unchanged under new strategy


Result Drivers

  • SUPPLY AND LICENSE AGREEMENTS - Co said Q3 growth was supported by SCIENION supply and license agreements

  • INSTRUMENTS AND CONSUMABLES - Growth in desktop instruments and consumables contributed to results, while Lab Automation project business remained challenging

  • COST DISCIPLINE - Co said ongoing cost discipline and improved commercial execution supported profitability


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

SEK 465.20 mln

Q3 Adjusted EBITDA

SEK 124.30 mln

Q3 EBITDA

SEK 107.30 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

  • Wall Street's median 12-month price target for BICO Group AB is SEK25.50, about 3.2% above its November 10 closing price of SEK24.70


Reuters Recommended Reads

  • Nov 10 - Sweden's Genovis Q3 net sales rise 34% on record genomics segment

  • Nov 10 - Bionano Genomics Q3 revenue rises on optical genome mapping adoption

  • Nov 10 - 908 Devices Q3 revenue growth beats estimates; hikes forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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