BICO has resolved to write-down goodwill in the Group companies: SCIENION (
- SCIENION’s performance has been characterized by weak financial development over the last quarters attributable to the weaker demand from the diagnostic industry. This has resulted in slower growth pace than previously forecasted, which in turn impacts the goodwill value. We have made major organizational changes and right-sizing during 2023 to mitigate the weaker demand.
- Nanoscribe has not been able to deliver according to the high expectations set in 2021 when the company was acquired. This has resulted in lowered growth estimates which has impacted the goodwill value.
- Visikol has developed weaker than anticipated over the last quarters. A decision has been made to integrate Visikol into MatTek since BICO has concluded that Visikol has better opportunities to reach profitability as an integrated part of MatTek. Due to the integration, Visikol’s offering will be smaller and more focused on profitability. Given this, future projections have been lowered, resulting in a need for goodwill impairment.
Preliminary figures Q4 2023 and FY 2023
The net sales for Q4 is expected to amount to
The EBITDA for Q4 is expected to amount to
The adjusted EBITDA for Q4 is expected to amount to
EBITDA less own work capitalized for Q4 is expected to amount to
The cash flow from operating activities for Q4 is expected to amount to
SEKm | Q4 2023 | Q4 2022 | FY 2023 | FY 2022 |
Profit & loss | ||||
Net sales | 636.6 | 665.9 | 2,249.9 | 2,120.8 |
EBITDA | 95.1 | 69.7 | 360.4 | 15.0 |
EBITDA margin, % | 14.9 | 10.5 | 16.0 | 0.7 |
Adjusted EBITDA | 86.1 | 69.8 | 217.7 | 126.2 |
Adjusted EBITDA margin, % | 13.5 | 10.5 | 9.7 | 6.0 |
EBITDA less own work capitalized | 78.9 | 26.6 | 257.7 | -149.8 |
EBITDA less own work capitalized margin, % | 12.4 | 4.0 | 11.5 | -7.1 |
Cash flow | ||||
Cash flow from operating activities | 162.0 | -69.1 | 178.4 | -269.4 |
Cash flow from investing activities | 193.6 | 55.3 | -129.7 | 212.9 |
Cash flow from financing activities | -48.8 | 452.9 | -102.0 | 455.3 |
In accordance with discontinued operations reporting, all profit and loss figures exclude discontinued operations (Ginolis), and all cash flow figures include discontinued operations (Ginolis).
All amounts stated in this press release are preliminary and unaudited.
BICO’s full financial performance will be presented in the Year-end report January –
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