PhotoCure ASA (OSL:PHO)
kr 64.3 -0.80 (-1.23%) Market Cap: 1.71 Bil Enterprise Value: 1.44 Bil PE Ratio: 3,215.00 PB Ratio: 3.63 GF Score: 64/100
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Q3 2024 Photocure ASA Earnings Call Transcript

Nov 13, 2024 / 01:00 PM GMT
Release Date Price: kr52.8 (-2.76%)

Key Points

Positve
  • PhotoCure ASA (PHCUF) reported its sixth consecutive quarter of positive EBITA, indicating strong financial performance.
  • The company has successfully expanded its mobile strategy, with 36 accounts in the US using the service, contributing to 3% of the US business.
  • Hexvix was approved in China six months ahead of schedule, showcasing efficient regulatory processes and high-quality submissions.
  • Strong sales growth in Europe, particularly in Germany, with an 11% increase, and priority growth markets like the UK, France, and Italy showing double-digit growth.
  • The company ended Q3 with a cash balance of 291 million NOK, reflecting strong cash flow and financial stability.
Negative
  • The ongoing phase-down of flexible BLC in the US negatively impacted unit sales.
  • Operating expenses increased by 10% year-over-year, partly due to a one-off accounting adjustment.
  • There is uncertainty regarding the timeline for US reclassification, which could impact future market access.
  • Some equipment failures in Italy affected sales growth, pushing them from double-digit to high single-digit growth.
  • The launch of Hexvix in China is delayed until the Richard Wolf equipment receives regulatory approval, expected in late 2025.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PHO.OL - Photocure ASA
Q3 2024 Photocure ASA Earnings Call
Nov 13, 2024 / 01:00PM GMT

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Presentation
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And we'll continue to make progress and momentum there. We had a recent meeting with Olympus. We believe the C mark in Europe will be issued soon. Equipment availability in certain countries will begin later this month or in early December. We continue to monitor those developments and are looking forward to collaborating with Olympus on this new product launch. We also generated positive ebits. It's our sixth quarter in a row and added cash to our balance sheet in the period. So I'm very pleased with the strength of our balance sheet and some on the important news flows. The four tech mobile strategy is answering the challenge of accessing capital costs in the US. We have 36 accounts as of today that have tried it by the end of October have tried or
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