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Bactiguard Q2: Beat on sales, although BIP product sales largely in line - SEB

Bactiguard’s Q2 sales of SEK 59m were 13% above SEBe. Old licence revenues and BIP product sales came in largely in line with SEBe, thus the sales beat is driven by higher new licence sales (project revenues for ZB and initial fees and development revenues attributable to the collaboration with Dentsply Sirona), as well as a large impact on “other revenues” from currency-related effects. Q2 adj. EBITDA was just shy of our estimate.

Bactiguard’s Q2 sales of SEK 59m were 13% above SEBe. Old licence revenues and BIP product sales came in largely in line with SEBe, thus the sales beat is driven by higher new licence sales (project revenues for ZB and initial fees and development revenues attributable to the collaboration with Dentsply Sirona), as well as a large impact on “other revenues” from currency-related effects. Q2 adj. EBITDA was just shy of our estimate.
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