Vitrolife Group (VITR) Q4 2025 earnings summary

Executive summary

• Achieved 6% organic growth in local currencies for Q4, excluding discontinued business, with strong performance in Americas and APAC regions, 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 6% organic growth in local currencies, but a -10% impact from currency effects.

• Adjusted gross margin for Q4 was 58.6%, down from 61.1% last year, mainly due to currency and regional mix.

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

• Full-year sales reached SEK 3,440 million, with a 4% organic growth in local currencies and a 5% decrease in SEK due to currency effects.

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

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

Outlook and guidance

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

• Expectation of market conditions returning to more normal levels in 2026, supporting profitable growth.

• No formal guidance provided, but management anticipates normalization of gross margins to around 59% in 2026.