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BICO Group (BICO) investor relations material
BICO Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Divestment of MatTek and Visikol to Sartorius for USD 80m completed, strengthening the balance sheet and enabling a strategic focus on lab automation and life science solutions.
Lab automation faced significant project delays, fewer starts, and negative growth, prompting leadership and process changes in Biosero.
Life science solutions delivered flat sales in line with peers, with SCIENION showing healthy growth and profitability.
Macroeconomic headwinds, including US NIH funding cuts and tariff uncertainties, continued to impact demand and delay CapEx investments, especially in academia.
Transformation initiatives in Biosero are underway to address project delays and scale up lab automation capabilities.
Financial highlights
Q2 2025 net sales were SEK 324M, with organic growth of -17% and total sales growth of -23% year-over-year.
Adjusted EBITDA was negative SEK 49M (margin -15%).
Gross margin declined to 44%, down 8 percentage points year-over-year.
Cash flow from operating activities was negative SEK 28M in Q2; total Q2 cash flow was negative SEK 54M.
Cash and cash equivalents at period end were SEK 636M.
Outlook and guidance
No formal guidance provided, but management expects no further negative project hour revisions in H2 and anticipates a stronger second half compared to H1.
Transformation actions in Biosero are expected to yield results over coming quarters, but full effect will take time.
Continued investments in operational resources and process improvements are expected to impact short-term profitability but should drive long-term margin recovery.
Underlying demand in lab automation remains strong, with actions underway to unlock capacity and improve project delivery.
Persistent macroeconomic uncertainties, especially in the US, are expected to continue impacting demand and project starts.
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