BICO (BICO) CMD 2024 summary

Strategy and Vision

• Launched BICO 2.0 strategy to enable and automate the life science lab of the future, aiming to be the first-choice lab automation partner for pharma and biotech.

• Strategic priorities include commercial excellence, customer-centric R&D, investing in people and culture, and operational excellence.

• Emphasis on holistic, end-to-end lab automation, integrated data/AI/software, regulatory compliance, and increasing recurring revenue.

• Portfolio realigned into three business areas: Lab Automation, Life Science Solutions, and Bioprinting, replacing previous segmentation.

• Focused on serving preclinical domains in life sciences, especially molecular biology, drug discovery, and synthetic biology workflows.

Market Trends and Business Environment

• Operates in a $121B life science market growing at 12% CAGR, with a $3B serviceable addressable market.

• Lab automation market valued at $5.5–$8.6B in 2023, growing 6.3–9.3% annually; integrated solutions are 20% of this and growing faster.

• Consumables, services, and software are attractive segments for increasing recurring revenue.

• Demand driven by efficiency, AI/data integration, personalized medicine, regulatory compliance, and shift to in vitro testing.

• Strong customer base includes top pharma, biotech, diagnostics, academia, and consumer companies.

Organizational Changes and Business Areas

• Introduced new business areas: Lab Automation (Biosero), Life Science Solutions (instrument companies), and Bioprinting.

• New structure increases transparency and aligns with commercial focus; reporting will shift to this structure from Q3 2024.

• Executive management roles realigned to support new business areas and strategy.