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2022-11-10

BICO Group announces new financial targets

BICO Group AB 559050-5052 (NASDAQ STOCKHOLM: BICO)

The Board of BICO Group has today resolved on new financial targets. The new financial targets will be presented in more detail by CEO, Erik Gatenholm and Interim CFO, Mikael Engblom at the digital Capital Markets Day on November 10, 2022 (today), starting at 09:15 CET. During the Capital Markets Day, BICO Group will also present the company's strategy, product offering, markets, financial position and Vision 2030.
 
Financial targets
- Double-digit organic growth in constant currency
- EBITDA Margin less capitalized development cost > 10%
- NET DEBT / EBITDA <3.0x
 
“The new financial targets are designed to support self-financed profitable growth and our Vision 2030 – Be the world’s leading laboratory automation company for treatment development application by 2030”.
Erik Gatenholm, President & CEO BICO Group
 
Financial targets framework
- Valid from 2023 on a mid-term basis.
- Growth target captures market growth opportunities.
- Margin target secures focus on profitability including total R&D spending and enables positive cash flow excluding acquisition-related items.
- Net Debt target enables flexibility in future financing alternatives.

Capital Markets Day, Online
Date: Thursday, November 10, 2022
Time: 9:15 – 11:45 CET
 
Join our Capital Markets Day 
The Capital Markets Day will be broadcast live online. Please join the event via this link. A recording of the Capital Markets Day will be available on demand on our website shortly after the event.

For further information, please contact:
Carsten Brovall, Chairman of the Board of Directors, BICO Group AB
Email: cb@bico.com

Erik Gatenholm, President & CEO, BICO Group AB
Telephone: +46 73 267 0000
Email: eg@bico.com

Mikael Engblom, Interim CFO BICO Group AB
Telephone: +46 700 918 604
Email: me@bico.com

About BICO
Founded in 2016, BICO (formerly CELLINK) is the world’s leading bioconvergence company,  with three business areas: Biosciences, Bioautomation, and Bioprinting. BICO reduces the organ shortage and speeds up drug development by providing accessible life science solutions that combine biology and technology, fundamentally shifting the global healthcare industry.
Using a combination of robotics, artificial intelligence, advanced genomics, and 3D bioprinting, our innovative technologies enable researchers and practitioners in the life sciences to conduct cell line development in 3D, perform high-throughput drug screening and diagnostics, and print human tissues and organs for the medical, pharmaceutical, and cosmetic industries. BICO is the future of life-saving treatments, as we enable our customers to improve people's health and lives. 
Our products are trusted by more than 3,500 laboratories, including the top 20 pharmaceutical companies. We have more than 32,000 instruments in the field in over 65 countries and have been cited in over 11,000 publications. BICO is listed on Nasdaq Stockholm under BICO. www.bico.com

This information is information that BICO Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-11-10 07:00 CET.

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BICO Group announces new financial targets

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