April – June
- Net sales amounted to
SEK 409 (395) million, an increase of 3.4 percent and an organic* decrease of 14.0 percent. - Operating profit amounted to
SEK 53 (93) million and adjusted* toSEK 78 (98) million. - The operating margin was 12.9 percent (23.4) and adjusted to 19.1 percent (24.7).
- EBITA* amounted to
SEK 64 (100) million and adjusted toSEK 90 (105) million. - The EBITA margin* amounted to 15.8 percent (25.2) and adjusted to 22.0 percent (26.5).
- Profit after tax amounted to
SEK 34 (57) million. - Earnings per share were
SEK 0.49 (0.87) before and after dilution. - Cash flow from operating activities decreased to
SEK 51 (88) million. - Net cash* as of
June 30 wasSEK 226 (224) million. - On
April 28 ,Maja Nilsson informed that she is leaving the position as CFO. - On
June 1 ,Biotage completes the acquisition ofAstrea Group Holdings Company Ltd ("Astrea"). As part of the transaction 13,954,103 ordinary shares were issued in June.
January – June
- Net sales amounted to
SEK 769 (781) million, a decrease of 1.5 percent and an organic* decrease of 13.4 percent. - Operating profit amounted to
SEK 106 (189) million and adjusted* toSEK 149 (199) million. - The operating margin was 13.8 percent (24.2) and adjusted to 19.4 percent (25.5).
- EBITA* amounted to
SEK 125 (203) million and adjusted toSEK 169 (213) million. - The EBITA margin* amounted to 16.3 percent (26.0) and adjusted to 21.9 percent (27.3).
- Profit after tax amounted to
SEK 77 (129) million. - Earnings per share were
SEK 1.13 (1.95) before and after dilution. - Cash flow from operating activities decreased to
SEK 62 (145) million. - On
March 9 , it was announced that Lars Bäckman, Chief Legal Officer, will retire and leaveBiotage inSeptember 2023 . - On
April 28 ,Maja Nilsson informed that she is leaving the position as CFO. - On
June 1 ,Biotage completes the acquisition ofAstrea Group Holdings Company Ltd ("Astrea"), which was announced on15 February 2023 . As part of the transaction 13,954,103 ordinary shares were issued in June.
Message from the CEO
On
The acquisition of Astrea further strengthens
The underlying business in Scale Up continues to develop with strong growth, we still have some way to go before we see the same sales volumes as during the pandemic. We are also actively working to broaden our business in
The fact that
Of our three customer focus areas, both Red Tech and Blue & Green Tech continued to grow during the quarter. Four of our six product areas grew during the quarter. Diagnostics, which includes our oligonucleotide business, showed double-digit organic growth and both Analytical Testing and Water & Environmental Testing continued to grow. Thanks to the Astrea acquisition, Biologics & Advanced Therapeutics also grew significantly.
We continue to develop new solutions with a strong focus on our customers. We have launched the Biotage® PeptiRen-96 well plates, which, together with our Biotage® Extrahera™ sample preparation system, can streamline the peptide purification workflow with a low solvent consumption. We are combining existing solutions in a new application that improves the process for our customers, while at the same time increasing Biotage’s current revenue in an attractive and growing niche with a positive future. A clear example of how customer focus builds value for ourselves, our customers and other stakeholders.
With the introduction of a new security pack for our Biotage® Selekt product family for flash purification, we have also taken further steps in our digitalization strategy and of our customer journey. It provides complete, built-in, industry-standard encryption for secure remote control and monitoring of Biotage® Selekt systems, protecting customers’ valuable information and scientific research from data breaches.
After an intensive first half of the year, we are now looking forward to continuing the good cooperation we have started with our new colleagues at Astrea. At the same time, our global organization continues to work with a high level of commitment to improve gross margins. Today we are a strong company, with the aim of putting Swedish life sciences on the world map. It gives us confidence for the rest of the year!
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