Vitrolife AB Reports Impressive Q4 and Full Year Results for 2024
Gothenburg, Sweden – In a recent financial report, Vitrolife AB announced solid performance for both the fourth quarter and the entirety of 2024, demonstrating resilience and growth amidst fluctuating market conditions. The company's quarterly sales reached
SEK 959 million, reflecting a
6% increase in local currencies as well as in Swedish Krona (SEK), with notable contributions from various regional markets.
Regional Sales Growth
Sales by region showed robust growth as well:
- - EMEA (Europe, the Middle East, and Africa): +10% growth in local currencies.
- - Americas: Up by 9%.
- - APAC (Asia-Pacific): Slight decline by 2%.
This regional distribution indicates strong demand in Europe and Americas, while APAC faced some challenges, suggesting a need for strategic adjustments in that market.
Business Segment Performance
Analyzing sales by business area, the figures revealed varied performances:
- - Consumables saw a remarkable 12% increase in local currencies.
- - Technologies recorded a 9% growth.
- - Genetics remained flat with no growth.
The gross margin improved impressively, reaching
61.1%, a notable rise from 56.9% previously, indicative of better cost management and pricing strategies.
Year-End Figures
When zooming out to look at the complete year, Vitrolife's total sales for
2024 amounted to
SEK 3,609 million, which represented a
3% increase overall in SEK and a
4% increase in local currencies.
- - The breakdown by region in local currencies was positive, with EMEA up by 7%, the Americas up by 1%, and APAC improving by 5%.
- - In terms of business segments, Consumables experienced a 10% growth, Technologies led with a 16% increase, whereas Genetics suffered a decline of 5%.
The overall gross margin for the year also improved, totaling
59.3% compared to
56.3% the previous year, showing that Vitrolife is effectively enhancing its operation efficiency.
Financial Highlights
Operating income before depreciation and amortization (EBITDA) surged to
SEK 1,225 million, providing the company with an EBITDA margin of
34.0%, a remarkable increase from 32.3% in the prior year. Additionally, operating cash flow rose significantly to
SEK 907 million, nearly outpacing the previous year’s figure of
SEK 757 million. The net income likewise turned a corner, posting
SEK 514 million, a substantial recovery from a loss of
SEK 3,851 million a year prior, which led to earnings per share of
SEK 3.79 (before dilution).
Dividend Proposal
In light of these solid results, the Board of Directors has proposed a dividend of
SEK 149 million, which translates to
SEK 1.10 per share, up from SEK 1.00 last year. This proposal reflects the company’s commitment to returning value to its shareholders while maintaining a strong cash position for future investments.
Leadership Changes
Additionally, it’s worth noting that Helena Wennerström was appointed as the acting CFO of the company as of December 3, 2024, following the departure of Patrik Tolf due to personal reasons. This leadership transition aims to ensure continued financial stability and strategic direction as the company moves forward into 2025 and beyond.
In conclusion, Vitrolife AB’s latest financial report reflects a year marked by robust growth, improved margins, and strategic leadership amidst challenges, positioning itself well for future advancements in the fertility and health sectors.