Vitrolife Group (VITR) Q4 2025 earnings summary

Executive summary

• Achieved 6% organic growth in local currencies (excluding discontinued business) in Q4, with strong performance in Americas and APAC, despite significant currency headwinds and macroeconomic challenges.

• Full-year organic growth in local currencies (excluding discontinued business) was 4%.

• Announced a major restructuring in Genetic Services, including discontinuation of two test lines, exit from low-profit markets, and impacting 6% of workforce.

• Recorded a SEK 5,357 million goodwill impairment related to the Igenomix acquisition.

Financial highlights

• Q4 sales were SEK 891 million, with a 6% organic growth in local currencies but a -10% currency impact; full-year sales reached SEK 3,440 million, down 5% in SEK due to currency effects.

• Q4 gross margin was 58.6% (adjusted), down from 61.1% last year, mainly due to currency and regional/product mix.

• Q4 EBITDA was SEK 251 million (28.2% margin, adjusted); full-year EBITDA was SEK 1,004 million (29.2% margin, adjusted).

• Net income for the year was SEK -5,013 million (SEK 390 million excluding impairment and restructuring costs); EPS SEK -37.01 (SEK 2.89 excluding impairment and restructuring costs).

• Operating cash flow for the year was SEK 635 million.

• Proposed dividend is SEK 1.10 per share, unchanged from last year.

Outlook and guidance

• Focus for 2026 is on growth, innovation, and operational excellence, with continued share gains in key markets and leveraging the full portfolio.

• R&D will prioritize impactful programs and further develop the IVF platform for automation and efficiency.

• Investments in IT and digital capabilities are planned to improve customer experience and internal efficiency.

• Management expects market conditions to normalize in 2026, supporting profitable growth and providing greater growth opportunities.

• Gross margin expected to stabilize around 58–59% as mix effects normalize.