Bactiguard (BACTI) investor relations material

Executive summary

• Adjusted EBITDA remained positive at SEK 4.9 million, supported by disciplined cost control and a scalable business model, despite lower reported revenues due to timing effects and currency impacts.

• Revenue declined 25% year-over-year to SEK 46.9 million, with net sales down 28% to SEK 42.4 million, mainly due to negative currency effects and timing in the license business.

• Strategic progress included increased sales of coated products, new market launches with BD, and the first quarter under the updated Zimmer Biomet partnership.

• The company maintained focus on key therapeutic areas and strengthened organizational capabilities, especially in leadership, R&D, regulatory, and commercial functions.

• Wound Management portfolio generated SEK 18.2 million in revenue (excluding currency), showing resilience despite a strong comparison period.

Financial highlights

• Adjusted EBITDA was SEK 4.9 million (margin 10.5%), down from 15% last year due to lower revenues.

• Total revenue: SEK 46.9 million (down 25% year-over-year); net sales: SEK 42.4 million (down 28% year-over-year).

• License business revenue fell 20% (excluding currency) to SEK 25.1 million, mainly due to lower BD revenues, while Zimmer Biomet revenues increased.

• Operating result was SEK -7.2 million (vs. SEK 2.6 million last year); net result SEK -5.6 million (vs. SEK 4.7 million last year).

• Total cash at quarter-end was SEK 35.3 million; operating cash flow was SEK -7.4 million, an improvement over last year.

Outlook and guidance

• Strategic direction and 2030 targets remain unchanged, focusing on partnerships, regulatory progress, and long-term value creation.

• Wound management portfolio expected to deliver double-digit growth going forward.

• Quarterly revenues expected to fluctuate due to currency, regulatory timing, and license agreements.

• No significant further reductions in people costs anticipated; slight reductions in external expenses expected.