Vitrolife Group unveils new corporate strategy and updates long-term financial objectives at Capital Markets Day

GOTHENBURG, Sweden, Dec. 12, 2023 /PRNewswire/ -- Vitrolife AB (publ) today is hosting a Capital Markets Day presentation for the investment community in Stockholm, Sweden, from 10:00-15:30 CET

Bronwyn Brophy, Chief Executive Officer, Patrik Tolf, Chief Financial Officer, and members of the wider Vitrolife Group leadership team will present the company mission to be the leading global partner in reproductive health, striving for better treatment outcomes for patients. The Group will achieve this through execution of a new corporate strategy to drive long-term, sustainable, profitable growth by focusing on five key strategic pillars:

• Own the platform connecting products and services
• Innovate to expand leadership
• Accelerate growth in key markets
• Optimise go-to-market model
• Drive operational excellence

Additionally, leading experts and practitioners in the reproductive health industry will share their insights on the future of infertility care across key markets. They will also discuss the value the Vitrolife Group can bring to support improved treatment outcomes for patients and increased capacity and scalability through automation.

Vitrolife Group will provide updated long-term (5 years) financial objectives:

• Annual organic revenue growth in local currency >10%
• EBITDA margin >33%
• Net Debt/EBITDA <3

Dividend policy will remain at 30% of net profit.

The Group will discuss its commitment to lead in innovation by doubling investment in R&D thereby strengthening the portfolio and increasing the rate at which it brings new high impact solutions to the market. Vitrolife Group will also increase its capabilities and footprint in key growth markets like the US and China while maintaining the strong momentum in the EMEA and Asia Pacific regions. Strategic investments in automation and digitalisation across the business are expected to increase scalability, reduce manufacturing costs, and improve operational leverage. A focus on driving operational excellence will allow the company to invest in growth and R&D.

The fourth quarter and full year 2023 financial report will be presented on 2 February 2024.

To access a live webcast of the Capital Markets Day presentation and accompanying materials, please visit https://www.vitrolifegroup.com/en/investor-relations/presentations/capital-markets-update-2023. A replay of the webcast will be available on our website following the event.

Forward Looking Statements
This release may contain forward-looking statements, which reflect the Board of Directors and the management’s current views with respect to the market, certain future events and financial performance. Although the statements are based upon estimates, the management believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, and no assurance can be given that the expectations will prove to be correct. Forward-looking statements are based on the circumstances at the date of publication and actual outcome could be materially different. Vitrolife Group disclaims any intention or obligation to update these forward-looking statements. The most important strategic and operative risks regarding Vitrolife Group’s business and field are described in the Management report, in the Annual Report. These are primarily constituted by macro-economic risks, operational risks and financial risks.

Gothenburg, 12 December 2023
VITROLIFE AB (publ)

Contact:
Patrik Tolf, CFO, phone +46 (0) 31 766 90 21

This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.

The following files are available for download:

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SOURCE Vitrolife AB

Company Codes: Bloomberg:VITR@SS, ISIN:SE0011205202, RICS:VITR.ST, Stockholm:VITR, OTC-PINK:VTRLY