ChemoMetec (CHEMM) Q2 24/25 earnings summary

Executive summary

• Revenue for H1 2024/25 rose 26% year-over-year to DKK 251.5 million, driven by strong instrument sales and large orders for new XcytoMatic products.

• EBITDA increased 45% to DKK 135.2 million, with margin improving to 54% from 47% in the prior year.

• Growth was broad-based across all geographies and product segments, with the LCB market accounting for 92% of total revenue.

• The acquisition of Ovizio Imaging Systems SA was completed in October 2024, expanding technology capabilities in online, label-free cell counting.

Financial highlights

• H1 net profit rose 47% year-over-year to DKK 103.4 million; EPS increased to DKK 5.9 from DKK 4.1.

• Gross margin improved to 92% from 90% year-over-year.

• Cash flow from operations was DKK 88.0 million, up from DKK 40.8 million in the prior year.

• Equity at period end was DKK 598.0 million, with an equity ratio of 82%.

• Dividend of DKK 69.6 million paid in H1.

Outlook and guidance

• Full-year 2024/25 guidance maintained: revenue DKK 470–490 million, EBITDA DKK 250–260 million.

• Growth in XcytoMatic instrument sales expected to slow in H2 due to extended customer validation cycles.

• Market conditions remain uncertain, especially for start-ups, but late-stage project funding is stable.