Fourth quarter in review

Oct - Dec 2024 (Oct - Dec 2023)

• Net sales in the fourth quarter were 2,6 (15,1) MSEK. 

• Bio-Works' order intake was 6,1 (8,0) MSEK, a 23% decrease. 

• Operating profit in the quarter was -13,8 (-11,8) MSEK. 

• Net profit was -13,2 (-13,3) MSEK.

• Earnings per share was -0,17 (-0,34) SEK - before and after dilution.

• Cash flow from operating activities amounted to -13,7 (-15,6) MSEK.

• Cash and cash equivalents at the end of the period amounted to 34,3 (39,4) MSEK.

2024 in review

Jan - Dec 2024 (Oct - Dec 2023)

• Net sales during the period were 25,5 (43,9), a 42% decrease.  

• Bio-Works' order intake increased by 5% to 27,5 (26,1 ) MSEK during the period.

• Operating profit in the period amounted to -38,0 (-56,3) MSEK.

• Net profit for the year landed at -37,4 (-56,8) MSEK.

• Earnings per share in 2024 amounted to -0,75 (-1,62) SEK - before and after dilution. 

• Cash flow from operating activities for the year 2024 was -43,0 (-59,0) MSEK.

Significant events after the end of the quarter

• Press released large orders during the year 2025 has a total order value of 20 MSEK.   

Message from the CEO

We started 2024 with high expectations, and I am proud that throughout the year we managed to maintain strong cost control by streamlining our processes and workflows. This has been a priority area, contributing to strengthening our financial position for the future.

Unfortunately, we did not achieve the net revenue we had hoped for. Despite this, resin sales in litres increased compared to 2023, something that we consider a good result. Although we fell short of our revenue target, we are proud of our growing customer base and the increasing demand for our products.

During the second half of 2024 we established a new sales organization, and already after the initial start-up period we saw positive effects. Globally, both customer inquiries and order volumes are increasing, signalling an improved market situation and strengthening our optimism for 2025.

We begin 2025 with a large order for WorkBeads affimAb valued at 11.2 MSEK. In addition, we have received two more orders with a total order value above 8 MSEK. Consequently, we have decided to invest approximately 1 MSEK in our production. This to eliminate bottlenecks in our production and double our production capacity within a year.  

With these successes and strong momentum, we look forward to a positive development in 2025. I would like to extend a heartfelt thank you to our employees for their dedication, our customers and partners for their continued trust, and a special thank you to our shareholders for your patience during the year and the great confidence you showed us through the oversubscribed rights issue in August.

Together, we look forward to a successful 2025.

Sincerely,

Lone Carlbom

CEO Bio-Works Technologies

Contacts
For more information, please visit the Bio-Works homepage at, www.bio-works.com or contact: Arne Hauge, CFO, e-mail: arne.hauge@bio-works.com, phone: +46(0)8-502 705 83.

About Bio-Works
Bio-Works enables Biotech companies to achieve their goals for purification of biomolecules. We support our customers, from laboratory research to commercial production, and together we implement efficient and robust solutions for bioprocessing. Our ambition is to be a trusted and dynamic partner in an industry characterized by growth and development.

Bio-Works' headquarters, with R&D and manufacturing, is located in Uppsala Business Park in Uppsala, Sweden. We supply products globally, through a combination of direct sales and via distributors in Europe, North America and Asia. The company is certified according to the ISO 9001:2015 quality management system. Bio-Works is listed on Spotlight Stock Market ("BIOWKS"). For more information, visit www.bio-works.com.