Q1 results
Vitrolife reported a solid start to the year in Q1 despite lower than expected sales. Sales growth in Genetic services continues to weigh down on the total organic growth for the company. Total organic growth of 0% (ABGSCe +1.8%) driven by +12% growth in Consumables (ABGSCe +10%), Technologies +8% (ABGSCe +9%), and Genetic Services -12% (ABGSCe -7%). Total sales Q1 sales of SEK 841m (-0.9% vs ABGSCe, and -3.3% vs cons) and EBITDA of SEK 272m (+3.9% vs ABGSCe, and -2.4% vs cons). The beat on EBITDA vs ABGSCe was due marginally higher gross margin and good cost control with core opex 3% lower than expected. Gross margin in Q1 came in at 57.2% (ABGSCe 57.0%, cons 56.6%) and core opex (selling, adm, R&D) was SEK -320m in Q1, 3% lower than ABGSCe at SEK 331m.
Aktuellt
SENASTE
