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BICO Group AB Class B (SE:BICO)
:BICO
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BICO Group AB Class B (BICO) AI Stock Analysis

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SE:BICO

BICO Group AB Class B

(OTC:BICO)

Rating:54Neutral
Price Target:
kr36.00
▲(52.80% Upside)
The overall score reflects a company with strong revenue growth and strategic initiatives but also significant challenges including negative profitability, valuation concerns, and macroeconomic headwinds. While financial performance and cash flow management show promise, technical analysis and valuation metrics highlight current vulnerabilities.

BICO Group AB Class B (BICO) vs. iShares MSCI Sweden ETF (EWD)

BICO Group AB Class B Business Overview & Revenue Model

Company DescriptionBICO Group AB Class B (BICO) is a globally recognized company operating in the life sciences sector. The company specializes in bioconvergence, integrating biology and technology to advance healthcare solutions. BICO's core products and services include bioprinting, biosciences, and bioautomation technologies, which are utilized in research and development across various scientific disciplines. The company's innovative solutions aim to accelerate drug development, enhance precision medicine, and improve overall healthcare outcomes.
How the Company Makes MoneyBICO Group AB generates revenue primarily through the sale of its bioprinting, biosciences, and bioautomation products and services. These offerings are marketed to academic institutions, pharmaceutical companies, and clinical research organizations that require advanced tools for research and development purposes. The company also benefits from strategic partnerships and collaborations with key industry players, which help expand its market reach and drive sales. Additionally, BICO may generate income from licensing agreements and providing specialized consulting services to its clients, further contributing to its revenue streams.

BICO Group AB Class B Earnings Call Summary

Earnings Call Date:Aug 19, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 04, 2025
Earnings Call Sentiment Negative
The earnings call presented a mixed picture of BICO's performance in Q2 2025. While the divestment of MatTek and Visikol significantly strengthened BICO's balance sheet, the company faced considerable challenges, particularly in the Lab Automation segment, with negative sales growth and profitability metrics. Macroeconomic conditions further impacted performance, introducing uncertainties and delayed investments. Despite strategic restructuring and operational improvements, negative trends outweighed positive developments.
Q2-2025 Updates
Positive Updates
Divestment of MatTek and Visikol
BICO successfully divested MatTek and Visikol to Sartorius for USD 80 million, significantly strengthening the balance sheet and resulting in a net cash position of approximately SEK 1.4 billion.
Focus on Lab Automation and Life Science Solutions
BICO implemented a new business area structure post-divestment, focusing on Lab Automation and Life Science Solutions, with positive feedback for SCIENION's growth and profitability.
Operational Excellence in Working Capital
BICO achieved a positive effect of SEK 29 million in changes in working capital, confirming successful operational excellence actions.
Negative Updates
Negative Organic Growth
For Q2 2025, BICO reported sales of SEK 324 million with a negative organic growth of 17% and total sales growth of negative 23%.
Significant Challenges in Lab Automation
Lab Automation sales amounted to SEK 48 million, with negative organic growth of 58%, due to fewer project starts, project delays, and a substantial reestimation of project hours.
Negative Profitability Metrics
Adjusted EBIT was negative SEK 49 million with a margin of negative 15%, and cash flow from operating activities was negative SEK 28 million.
Impact of Macroeconomic Conditions
BICO faced macroeconomic headwinds, including cuts in NIH funding and ongoing tariff issues, leading to hampered demand and delayed CapEx investments, especially in Academia.
Company Guidance
During the BICO earnings call for Q2 2025, the company provided several metrics and insights into its current performance and strategic direction. Sales for the second quarter amounted to SEK 324 million, reflecting a negative organic growth of 17%. The adjusted EBIT was negative SEK 49 million, with a margin of negative 15%, and cash flow from operating activities was negative SEK 28 million. The net working capital for the last 12 months of sales was 11%. Following the divestment of MatTek and Visikol to Sartorius, BICO's cash position increased significantly, with net cash from the transaction amounting to SEK 740 million, enhancing the balance sheet and reducing debt. The Lab Automation segment faced challenges with a 58% decrease in sales, largely due to project delays and fewer project starts, leading to a reestimation of project hours by around negative SEK 40 million. Conversely, the Life Science Solutions segment showed flat sales growth, aligning with industry peers. BICO is implementing strategic changes, including leadership and process enhancements, to address these issues and capitalize on the strong demand in the Lab Automation market.

BICO Group AB Class B Financial Statement Overview

Summary
BICO Group AB demonstrates robust revenue growth with a focus on improving operational efficiency, as seen in the positive EBITDA margin. However, challenges with profitability and maintaining stockholders' equity persist. Strong cash flow management with positive free cash flow trends suggests potential improvement, but reducing losses and managing debt remain crucial.
Income Statement
60
Neutral
The company shows strong revenue growth over the years, but profitability is a concern. The TTM (Trailing-Twelve-Months) data indicates a negative net profit margin and EBIT margin, reflecting ongoing operational challenges. However, the EBITDA margin is positive, suggesting some operational efficiency. The increase in gross profit margin indicates improved cost management.
Balance Sheet
50
Neutral
The balance sheet reveals a moderate debt-to-equity ratio and a reasonable equity ratio, indicating a stable financial structure. However, the decrease in stockholders' equity over time could be a concern if it continues. The company needs to improve its return on equity, which is currently negative due to ongoing losses.
Cash Flow
65
Positive
The cash flow statement shows a positive trend with improving free cash flow and operating cash flow. The free cash flow to net income ratio and operating cash flow to net income ratio are positive, indicating effective cash management despite negative net income. The company has reduced its financing cash flow significantly, which might impact future liquidity.
BreakdownTTMDec 2024Dec 2022Dec 2021Sep 2020Sep 2019
Income Statement
Total Revenue1.99B1.95B2.24B1.26B176.79M105.46M
Gross Profit1.08B1.01B1.83B1.00B163.62M91.36M
EBITDA296.10M437.60M322.30M31.80M-39.50M5.82M
Net Income-211.30M-5.50M-835.70M-229.20M-61.89M581.00K
Balance Sheet
Total Assets4.74B5.48B10.20B9.75B1.65B603.12M
Cash, Cash Equivalents and Short-Term Investments596.50M598.00M925.20M1.48B995.80M109.12M
Total Debt1.41B1.76B1.85B1.61B62.49M600.00K
Total Liabilities2.08B2.48B3.26B2.95B126.74M53.48M
Stockholders Equity2.64B2.98B6.91B6.77B1.52B549.64M
Cash Flow
Free Cash Flow193.30M72.70M-799.00M-676.20M-154.12M-51.56M
Operating Cash Flow252.30M158.40M-269.40M-409.20M-71.82M-15.82M
Investing Cash Flow165.80M128.00M212.90M-4.45B-200.90M-110.20M
Financing Cash Flow-484.20M-200.70M455.30M4.90B1.04B140.33M

BICO Group AB Class B Technical Analysis

Technical Analysis Sentiment
Negative
Last Price23.56
Price Trends
50DMA
33.99
Negative
100DMA
34.69
Negative
200DMA
34.59
Negative
Market Momentum
MACD
-3.26
Positive
RSI
19.07
Positive
STOCH
3.86
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SE:BICO, the sentiment is Negative. The current price of 23.56 is below the 20-day moving average (MA) of 30.65, below the 50-day MA of 33.99, and below the 200-day MA of 34.59, indicating a bearish trend. The MACD of -3.26 indicates Positive momentum. The RSI at 19.07 is Positive, neither overbought nor oversold. The STOCH value of 3.86 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SE:BICO.

BICO Group AB Class B Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
54
Neutral
$1.66B-15.03%-21.56%70.41%
51
Neutral
$7.84B-0.18-41.53%2.28%22.72%-1.87%
$439.14M30.5618.65%1.25%
$108.34M-35.36%
€84.95M-5.83%
€99.87M43.247.87%
€132.98M-5.40%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SE:BICO
BICO Group AB Class B
23.56
-20.70
-46.77%
CLVSF
CellaVision AB
18.38
-7.06
-27.75%
SNZZF
Senzime AB
0.69
-0.11
-13.75%
DE:5JE
Bactiguard Holding AB
2.26
-3.06
-57.52%
DE:24C
C-Rad AB Class B
2.88
-0.94
-24.61%
DE:7D2A
Sedana Medical AB
1.34
-0.65
-32.66%

BICO Group AB Class B Corporate Events

BICO Group COO Marius Balger Departs
May 23, 2025

BICO Group AB has announced the departure of its Chief Operating Officer, Marius Balger, who has decided to pursue new opportunities outside the company. During his tenure since March 2023, Balger has significantly contributed to strengthening BICO’s global operations, implementing key initiatives that enhanced operational excellence. The company has an interim solution in place for the COO duties, ensuring continuity in its operations.

BICO Group AB Announces Key Resolutions at Annual General Meeting
May 8, 2025

At the Annual General Meeting, BICO Group AB resolved several key issues, including the adoption of the 2024 financial statements and the decision not to distribute dividends, opting instead to carry forward profits. The meeting also saw the re-election and election of board members, the approval of remuneration guidelines, and the implementation of new incentive programs designed to align key personnel interests with those of shareholders, potentially impacting the company’s ability to attract and retain talent.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jun 04, 2025