Life science company Addlife has multiplied its net profit in the third quarter.
Revenue rose by 3.6 percent to SEK 2,429 million (2,344). Organic sales growth was 6 percent (5).
"Organic growth in the quarter was at a good level overall, despite the fact that activity in healthcare and research is typically lower during the summer months and that some markets are seeing restraint in capital investments. Growth was driven by positive developments in both business areas. In Labtech, the performance was particularly strong in areas such as gene sequencing, blood gas, and immunology," said CEO Fredrik Dalborg in the report.
EBITA amounted to SEK 270 million (223), with an EBITA margin of 11.1 percent (9.5).
Adjusted EBITA was SEK 270 million (230).
Profit before tax was SEK 111 million (42).
Net profit reached SEK 82 million (25). Earnings per share amounted to SEK 0.66 (0.19).
Cash flow from operating activities was SEK 145 million (137).
"Addlife's companies performed strongly during the quarter. Organic growth was good, margin improvement continued, results strengthened significantly, and the debt ratio was reduced, in line with our priorities and ambitions," said CEO Fredrik Dalborg.
The Addlife chief writes that the stronger result and lower debt ratio enhance acquisition opportunities.
AddLife AB is a Sweden-based company, which is primarily involved in the healthcare industry. The Company markets and sells instruments, equipment, consumables and related services mainly to the healthcare sector. The Company operates through two segments: The LabTech segment is engaged in the sales of laboratory equipment, analytical instruments and reagents, that are used for diagnostics or biomedical research; The MedTech segment offers various medical device equipment, consumables, instruments and devices, primarily to hospitals. The Company operates through number of subsidiaries, such as BergmanLabora AB, BioNordica group, Holm & Halby A/S, Immuno Diagnostic Oy, LabRobot Products AB, Triolab-group, Active Care Sverup AB, Fenno Medical Oy, Mediplast AB, among others.
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