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BICO Q4 2025 ENG
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Beskrivning
| Land | Sverige |
|---|---|
| Lista | Mid Cap Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
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2026-02-18 07:00:00
Strong Lab Automation growth and higher cash balance
Q4 2025 Summary
- Lab Automation delivered 15 percent organic sales growth YoY. This was primarily driven by accelerated project completions and additional revenue from large orders won in Q3. The adjusted EBITDA margin was 15 percent
- Life Science Solutions showed negative organic growth of 9 percent mainly driven by a continued soft demand from US Academia and a tough comparison quarter. Businesses with less dependency on Academia finished the year on a strong note. The adjusted EBITDA margin was 15 percent
Significant events after Q4 2025
- BICO successfully issued EUR 40M senior secured bonds under a EUR 60M framework in late January 2026. The new capital puts BICO in a position to support further growth and capture a market recovery, while navigating ongoing macroeconomic uncertainty
- GoSimpleTM, was launched in February 2026 and is the latest addition to our Lab Automation offering. It is a standardized, automation-ready workcell designed for rapid deployment. GoSimple is initially launched with selected instruments from Sartorius and Becton, Dickinson and Company (BD)
FY 2025 Summary
- The balance sheet was strengthened by buy-backs in the existing convertible bonds and divestments of MatTek and Visikol. By year-end the cash balance amounted to SEK 1,282m where SEK 1,008m will be used to repay the existing convertible bond maturing in March 2026. In addition, BICO has successfully issued senior secured bonds (see further details above).
- Divestments of MatTek and Visikol, completed in Q3 2025, generated net proceeds of SEK 740m. The divestments followed the strategy focused on lab automation and selected workflows.
- Across the industry, 2025 was marked by a challenging market environment. Geopolitical developments, including tariffs, created uncertainty and a cautious approach to CapEx investments. US Academia was hit by significant NIH funding cuts. Fx headwinds with a weaker US dollar and euro also weighed on margins
- Life Science Solutions delivered flat growth of 1 percent YoY, despite a muted US Academia market. A weak H1 could not be fully compensated for a stronger H2 with increased demands. The turn-arounds of Scienion and CELLINK strengthened the results
- Lab Automation delivered a negative organic sales growth of 26 percent, due to fewer project starts and project delays in H1. Good progress has been made in the execution of the action plan where new operational capacities are paying off and when legacy projects are finalized the operations will be able to scale and operate in a more sustainable and profitable way
- Non-cash affecting impairments were concluded in Discover ECHO and Biosero totalling SEK 1,036m in Q3, due to a short forecast period and lower year-to-date trading in 2025 which led to changed forecast assumptions compared with previous periods
October-December 2025 (compared with October-December 2024)
- Net sales amounted to SEK 451.3m (515.1) which corresponds to a decrease of −12.4% compared to the corresponding quarter previous year
- Organic sales growth for the quarter amounted to −3.7% (−0.6%)
- The gross margin amounted to 52.2% (59.8%)
- Adjusted EBITDA amounted to SEK 56.2m (126.7) corresponding to a margin of 12.5% (24.6%)
- EBITDA amounted to SEK 36.8m (107.5) corresponding to a margin of 8.1% (20.9%)
- Net profit/loss for the quarter from continuing operations amounted to SEK −59.2m (250.5) corresponding to earnings per share from continuing operations after dilution of SEK −0.84 (3.56)
- Cash flow from operating activities amounted to SEK 51.5m (181.6)
January-December 2025 (compared with January-December 2024)
- Net sales amounted to SEK 1,497.2m (1,727.2) which corresponds to a decrease of −13.3% compared to the corresponding period previous year
- Organic sales growth for the period amounted to −7.9% (−3.3%)
- The gross margin amounted to 52.1% (53.4%)
- Adjusted EBITDA amounted to SEK 4.6m (141.1) corresponding to a margin of 0.3% (8.2%)
- EBITDA amounted to SEK −32.4m (103.0) corresponding to a margin of −2.2% (6.0%)
- Net profit/loss for the period from continuing operations amounted to SEK −1,583.8m (−110.0) corresponding to earnings per share from continuing operations after dilution of SEK −22.38 (−1.46)
- Cash flow from operating activities amounted to SEK 68.4m (158.4)
- The Board of Directors proposes no dividend for 2025
Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held later today, on February 18, 2026, at 10:00am CET, at which President & CEO Maria Forss and CFO Jacob Thordenberg will present the year-end report.
Information about presentation and webcast
The presentation will be available on BICO’s website from 09:00am CET.
https://bico.com/investors/
If you wish to participate via webcast, please use the link below:
https://bico.events.inderes.com/q4-report-2025
If you wish to participate via teleconference, please register on the link below. After registration you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.inderes.com/teleconference/?id=5001346