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2022-05-18

BICO Group: BICO Publishes Interim Report January - March 2022: Continued growth in sales, improved profitability and focus on commercial synergies

A continued display of strong demand for products and services resulting in organic growth above target, complemented by EBITDA levels paving the way for reaching profitability in 2022

BICO is the future of life-saving treatments. We are reducing the organ shortage and speeding up drug development by providing accessible life science solutions that combine biology and technology.

January - March 2022

  • Net sales amounted to MSEK 477.2 (129.5), which corresponded to an increase of 268% (241) compared to the corresponding period previous year. Organic growth amounted to 52% (62).

  • Adjusted EBITDA amounted to MSEK 6.0 (-12.7), which corresponded to a margin of 1.3% (-9.8).

  • EBITDA amounted to MSEK -19.4 (-34.9), corresponding to a margin of -4.1% (-26.9).

  • Net profit/loss for the period amounted to MSEK -43.5 (-47.8), corresponding to earnings per share before and after dilution of SEK -0.68 (-0.90).

  • The gross margin amounted to 73.9% (77.3). The gross margin is slightly higher than the average for 2021. In Q1 2021, the gross margin was higher primarily due to a high share of service revenues.

  • Cash flow from operating activities amounted to MSEK -69.2 (-29.3, of which MSEK -58.6 (-38.6) was attributable to inventory build-up during the quarter).

"Following an acquisition-intense period in 2021, BICO's focus has moved to integration, building commercial success through technical and administrative synergies between our acquisitions, as well as across our three business areas Bioprinting, Biosciences and Bioautomation. Our goal is positive EBITDA for the full year 2022, which we are on track to achieve."

Erik Gatenholm, CEO and President, BICO

Invitation to presentation:

Join us for combined presentation audiocasts and telephone conferences with the opportunity to ask questions at 09:00 CEST and for the US market 16:00 CEST on May 18, 2022, with President & CEO Erik Gatenholm, Interim CFO Mikael Engblom and CTO Hector Martinez presenting the report.

The presentation audiocasts will be accessible via the following links:

Morning audiocast, at 09:00 CEST:

https://tv.streamfabriken.com/bico-q1-2022-am

To participate via telephone, please call any of the following numbers:

SE: +46 856 642 703

UK: +44 3333 009 034

US: +1 631 91 314 226

PIN for US: 46659360#

Afternoon audiocast, at 16:00 CEST:

https://tv.streamfabriken.com/bico-q1-2022-pm

To participate via telephone, please call any of the following numbers:

SE: + 46 850 558 352

UK: +44 3333 009 264

US: +1 6319 131 422

PIN for US: 36222967#

The presentation will also be available on the company's website: https://bico.com/investors/earnings-calls/

For further information, please contact:

Erik Gatenholm, President & CEO, BICO Group AB

Phone: +46 73 267 0000

E-mail: eg@bico.com

Åsa Hillsten, SVP &Head of Investor Relations, BICO Group AB

Phone: +46 70 0 81 81 17

E-mail: ash@bico.com

This information is information that BICO Group AB 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, on 18 May 2022 at 07:00 CET.

About BICO

Founded in 2016, BICO (formerly CELLINK) is enabling the future of life-saving treatments by reducing the organ shortage and accelerating drug development by providing accessible life science solutions that combine biology and technology (bioconvergence). The company focuses on developing, manufacturing, selling, and supporting its life sciences equipment, consumables, and reagents for both manufacturing as well as research purposes. BICO has more than 25,000 products in the field, sales in more than 65 countries, delivers to all top 20 pharmaceutical companies, and have been cited in more than 10,000 scientific publications. BICO is listed on Nasdaq Stockholm under: BICO.

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