Q3 2025 CellaVision AB Earnings Call Transcript
Key Points
- CellaVision AB (FRA:C26) reported an organic sales increase of 2.6% despite a net sales decrease of 1.7% due to currency effects.
- The company achieved an EBITDA margin of 28%, with EBITDA increasing by SEK1 million to SEK50 million.
- CellaVision AB completed a clinical trial and submitted documentation for CE Marking for its bone marrow application, expecting approval by early 2026.
- The company has upgraded its software for platforms, with installations at customer sites for final validation, indicating progress in product development.
- Strong performance in the reagent business, particularly in EMEA with a 14% growth, and a 5x improvement in APAC reagent sales, showing positive market penetration.
- Net sales decreased by 1.7% to SEK176 million, impacted by a negative FX headwind of 4.3%.
- Operating cash flow was affected by a SEK22 million impact from accounts receivable due to a high number of orders placed in September.
- APAC experienced a soft quarter with only SEK13 million in sales, despite a 10% growth, indicating challenges in the region.
- Instrument sales declined year-on-year, with smaller instruments seeing a modest decrease, raising concerns about demand variability.
- The company faces fierce competition in the Chinese market, impacting its ability to grow despite local manufacturing initiatives.
Thank you very much, and thanks to everyone taking the time to listen in to our quarterly report that we've launched this morning for our third quarter. I'm happy to say that I also have our Interim CFO, Monica Jonsson, with me, and we'll be happy to also answer any questions you may have when we get to that part of the session.
So, the quarter in brief. So, we have named our quarterly report softer quarter with mixed regional performance, and this is also related to currency effects. We saw Americas and EMEA had some quarterly variations resulting in modest growth, which we are highlighting here. We are coming out with a quarter here where we are reporting net sales decreased by 1.7 percentage points to SEK176 million. However, due to the FX headwind of minus 4.3%, then sales increased organically by 2.6% during this quarter versus the comparable quarter last year.
On the EBITDA side, we increased our EBITDA to SEK50 million. So, we increased by SEK1 million, and this relates to -- or corresponds to an EBITDA margin
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