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Bactiguard Q3: Higher sales although BIP product sales largely in line - SEB

Bactiguard’s Q3 net sales of SEK 59m were 7% above SEB. Organic net sales growth was 15% in the quarter. BD revenues beat expectations whilst BIP product sales were largely in line with SEB. Q3 adj. EBITDA was just shy of our estimate coming in at SEK 2.5m. The report was rather undramatic, in our view, with slight positive estimate revisions warranted.

Bactiguard’s Q3 net sales of SEK 59m were 7% above SEB. Organic net sales growth was 15% in the quarter. BD revenues beat expectations whilst BIP product sales were largely in line with SEB. Q3 adj. EBITDA was just shy of our estimate coming in at SEK 2.5m. The report was rather undramatic, in our view, with slight positive estimate revisions warranted.
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