Bactiguard Q1: Low sales quarter as BD volumes remain low - SEB
23 april, 08:30
Q1 net sales of SEK 42m came in much below SEB (SEK 49m) with organic net sales decline of 17% y/y in the quarter. Wound management revenue was 6% ahead so difference comes from license revenues driven by BD. Cost control is strong and Q1 EBITDA was SEK 4.9m, a tad above SEBe of SEK 3.5m. We will use the call later to understand what should be extrapolated reg. BD revenue. Sales likely to be cut mid-single-digits and with more neutral revisions for EBITDA FY'26E.
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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Bactiguard Q1: Low sales quarter as BD volumes remain low - SEB
23 april, 08:30
Q1 net sales of SEK 42m came in much below SEB (SEK 49m) with organic net sales decline of 17% y/y in the quarter. Wound management revenue was 6% ahead so difference comes from license revenues driven by BD. Cost control is strong and Q1 EBITDA was SEK 4.9m, a tad above SEBe of SEK 3.5m. We will use the call later to understand what should be extrapolated reg. BD revenue. Sales likely to be cut mid-single-digits and with more neutral revisions for EBITDA FY'26E.
SEB Research
This research has been commissioned by the company. Only for professional investors resident in EEA member states. Reports may not be distributed to the US or other jurisdictions where to do so would be unlawful. Please see the disclaimer tab for any details of investment banking services recently provided by SEB that could be considered relevant to the subject matter of this research.
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