Continued strong organic growth in both business areas
"AddLife's growth plan is working well and, after a period of COVID-19 and acquisition-driven growth, we are now seeing robust organic growth. Profitability has improved and we have implemented a number of measures that are expected to support a positive profitability trend moving forward. The activities to improve cash flow have been successful and we are excited that we have completed an add-on acquisition in the quarter."
Fredrik Dalborg, President and CEO
AddLife's interim report for Q3 2023 is now available online at the company website. The interim report can be downloaded in pdf version. Visit reports-en.add.life/interim-report-q3-2023
1 JULY - 30 SEPTEMBER 2023 (3 MONTHS)
- Net sales increased by 10% to SEK 2,319 m (2,100). The COVID-19 related sales decreased to 0 m (151) and the organic growth, excluding COVID-19 related sales and exchange rate changes, was 10%.
- EBITA decreased to SEK 244 m (288), corresponding to an EBITA-margin of 10.5% (13.7). Adjusted for reversed contingent considerations, EBITA increased by 12% and amounted to SEK 227 m (203), corresponding to an EBITA margin of 9.8% (9.7).
- Financial income and costs amounted to -71 m (-41)
- Profit after tax amounted to SEK 26 m (120).
- Earnings per share amounted to SEK 0.20 (0.99).
- Cash flow from operating activities amounted to SEK 138 m (20).
- During the quarter an acquisition, Emmat Medical Ltd, was completed. The acquisition is estimated to contribute an annual net turnover of approximately SEK 28 m.
1 JANUARY - 30 SEPTEMBER 2023 (9 MONTHS)
- Net sales increased by 6% to SEK 7,141 m (6,758), whereof the acquired growth amounted to 1%. The COVID-19 related sales decreased to 0 m (696) and the organic growth excluding, COVID-19 related sales and exchange rate changes, was 10%.
- EBITA decreased by 11% to SEK 857 m (963), corresponding to an EBITA-margin of 12.0% (14.3). EBITA include reversed contingent considerations amounting to 101 m (85), adjusted for this the EBITA-margin amounts to 10.6% (13.0).
- Profit after tax amounted to SEK 233 m (421).
- Earnings per share amounted to SEK 1.90 (3.46). Earnings per share for the last 12 months amounted to SEK 2.40 (4.92).
- Cash flow from operating activities amounted to SEK 325 m (558).
- The equity ratio was 39% (38).
- Return on working capital (P/WC) amounted to 49% (61).
Stockholm, October 26, 2023 AddLife AB (publ)
For more information, contact;
Fredrik Dalborg, CEO, fredrik.dalborg@add.life, +46 70 516 09 01
Christina Rubenhag, CFO, christina.rubenhag@add.life, +46 70 546 72 22
www.add.life
Video conference
Investors, analysts and the media are invited to a video conference at which CEO Fredrik Dalborg and CFO Christina Rubenhag will present the interim report. The presentation will be given in English and take about 20 minutes. after which there will be an opportunity to ask questions. The meeting will be recorded and made available online.
AddLife is an independent player in the Life Science industry that offers high-quality products, services and advice to both the private and public sectors, mainly in the Nordic region and rest of Europe. AddLife has about 2,300 employees in some 85 operating subsidiaries. The Group currently has net sales of approximately SEK 9 billion. AddLife shares are listed on Nasdaq Stockholm.
This information is information that AddLife AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at October 26, 2023 at 07:45 a.m. CET.
