BICO Group AB: Publication of BICO Group AB Interim report January-June 2025

A transformative quarter to secure long-term growth and profitability

Q2 2025 takeaways

• BICO entered an agreement to divest MatTek and Visikol to Sartorius for USD 80m
  on cash and debt free basis, significantly strengthening the balance sheet
• Macroeconomic headwinds and uncertainties remain persistent. NIH funding cuts and tariff turbulence have led to hampered demand and delayed CapEx investments
• Mixed performance in Life Science Solutions with growth in line with peers. Soft market for instrument companies catering to Academia, while SCIENION showed healthy growth and profitability
• Fewer project starts and project delays in the business area Lab Automation impacted the quarter negatively, as the organizational capacity has been outpaced by the high demand for Biosero's market leading solutions. To scale the business model and unlock the full potential in the growing lab automation market, leadership and process changes are being implemented in Biosero

April-June 2025 (compared with April-June 2024)

• Net sales amounted to SEK 324.2m (423.3) which corresponds to a decrease of -23.4% compared to the corresponding quarter previous year
• Organic sales growth for the quarter amounted to -17.0% (1.3%).
• The gross margin amounted to 43.9% (52.3%)
• Adjusted EBITDA amounted to SEK -48.8m (22.9) corresponding to a margin of -15.1% (5.4%)
• EBITDA amounted to SEK -52.5m (13.4) corresponding to a margin of -16.2% (3.2%)
• Net profit/loss for the quarter from continuing operations amounted to SEK -181.7m (-81.2) corresponding to earnings per share from continuing operations after dilution of SEK -2.55 (-1.14)
• Cash flow from operating activities amounted to SEK -28.2m (-50.9)

January-June 2025 (compared with January-June 2024)

• Net sales amounted to SEK 659.0m (842.9), which corresponds to a decrease of -21.8% compared to the corresponding period previous year
• Organic sales growth for the period amounted to -19.4% (3.3%).
• The gross margin amounted to 50.4% (49.1%)
• Adjusted EBITDA amounted to SEK -69.0m (8.1) corresponding to a margin of -10.5% (1.0%)
• EBITDA amounted to SEK -73.9m (-8.7) corresponding to a margin of -11.2% (-1.0%)
• Net profit/loss for the period from continuing operations amounted to SEK -417.1m (-99.8) corresponding to earnings per share from continuing operations after dilution of SEK -5.87 (-1.39)
• Cash flow from operating activities amounted to SEK 48.4m (-68.2)

"As we close the second quarter, macroeconomic headwinds and uncertainties remain persistent. Specifically, cuts in NIH funding in the US have, along with the ongoing tariff turbulence, introduced further uncertainty and led to hampered demand and delayed CapEx investments. We have continued the transformation of BICO in line with our updated strategy launched at the Capital Markets Day in September 2024. The divestments of MatTek and Visikol, closed after the end of the quarter, will significantly strengthen our balance sheet. It will also increase our focus towards lab automation and selected workflows where lab automation products and solutions can be found in both our business areas. Fewer project starts and project delays in the business area Lab Automation impacted the quarter negatively, as the organizational capacity has been outpaced by the high demand for Biosero's market leading solutions. To unlock the full potential in the growing lab automation market, leadership and process changes are implemented to scale the business", says Maria Forss, President and CEO, BICO Group AB.

Significant events after Q2 2025

• BICO completed the transaction of divestment of MatTek and Visikol after customary regulatory approval was obtained. Following transaction costs, net debt and working capital adjustments net proceeds amounted to USD 77.2m
• BICO completed a repurchase of convertible bonds to a nominal value of SEK 98m

Presentation for media and investors
A telephone conference, with the opportunity to ask questions, will be held later today, on August 19, 2025, at 10:00am CEST, at which President & CEO Maria Forss and CFO Jacob Thordenberg will present the interim report.

The presentation will be available on BICO's website from 09:00am CEST.
https://bico.com/investors/

If you wish to participate via webcast, please use the link below:
https://bico.events.inderes.com/q2-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=5002141

For further information, please contact:
Maria Forss, President & CEO, BICO Group AB
Phone: EA Isabella Lundin, [phone]
E-mail: [e-mail]

Jacob Thordenberg, Chief Financial Officer, BICO Group AB
Phone: [phone]
E-mail: [e-mail]

This information is information that BICO Group 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 persons set out above, on August 19, 2025, 07:00 CEST.

For further information, please contact:
Maria Forss, President & CEO, BICO Group AB
Phone: EA Isabella Lundin [phone]
E-mail: [e-mail]

Jacob Thordenberg, Chief Financial Officer, BICO Group AB
Phone: [phone]
E-mail: [e-mail]

This information is information that BICO Group 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 persons set out above, at 2025-08-19 07:00 CEST.

About BICO
BICO is a lab automation partner and provider of selected workflows to pharma and biotech. With 48,000+ instruments installed in over 65 countries, BICO products, software, and solutions are found in more than 3,500 laboratories, including the world's top 20 pharmaceutical companies, and have been cited in over 10,900 publications. Operating through two business areas - Lab Automation and Life Science Solutions - BICO strives towards the vision to enable and automate the life science lab of the future. BICO is listed on Mid-Cap, Nasdaq Stockholm under BICO. www.bico.com