• Forum
  • Stock Markets
    • MarketsLive prices, indices, and market performance
    • Stock CalendarUpcoming earnings, listings, and corporate events
    • Dividends CalendarFuture and past dividends
  • Companies
    • CompaniesBrowse and filter the full list of listed companies
    • DiscoveryInspiration for your next investment
    • IPOsNew listings and upcoming public offerings
    • AGM InvitationsAnnual general meeting dates and shareholder info
  • Stock Research
    • ResearchExpert stock analysis and recommendations
    • ArticlesNews, insights, and market commentary
    • inderesTVVideo hub for stock research, analysis, and expert commentary
    • TranscriptsFull text records of earnings calls and investor meetings
    • Stock ComparisonCompare financials and performance across multiple stocks
Find us on social media
  • Inderes Forum
  • Youtube
  • Facebook
  • X (Twitter)
Get in touch
  • info@hcandersencapital.dk
  • Bredgade 23B, 2. sal
    1260 København K
Inderes
  • About us
  • Our team
  • Careers
  • Inderes as an investment
  • Services for listed companies
Our platform
  • FAQ
  • Terms of service
  • Privacy policy
  • Disclaimer

Inderes’ Disclaimer can be found here. Detailed information about each share actively monitored by Inderes is available on the company-specific pages on Inderes’ website. © Inderes Oyj. All rights reserved.

Third party research

Vitrolife: Analyst - ABG

Vitrolife

This is a third party research report and does not necessarily reflect our views or values

Download report (PDF)
Q4'23 results due 2 February
23e EBITDA cut 1.4% and down 11.5% & 12.8% for '24e & '25e
38-45% below historical multiples, but above sector peers


Q4'23 expectations

We expect Vitrolife to report organic sales growth of 2.8%, broadly in line with what it reported in Q2'23 and Q3'23. We expect the Genetic service business in Americas to hold back total sales growth again in Q4, primarily due to the issues with the ERA test in the US. However, we expect positive growth for the other product categories and regions in Q4. We forecast Q4 EBITDA of SEK 289.5m, for a margin of 32.8%, up from 32.0% in Q4 '22 because of good cost control and a higher reported gross margin, 55.5% vs. 54.1% in Q4'22.