Vitrolife AB (publ) (VTRLY) Q4 2025 Earnings Call February 3, 2026 4:00 AM EST

Company Participants

Bronwyn Brophy - CEO & President Par Ihrskog - Chief Financial Officer

Conference Call Participants

Jakob Lembke - SEB, Research Division Ulrik Trattner - DNB Carnegie, Research Division Sten Gustafsson - ABG Sundal Collier Holding ASA, Research Division Ludwig Germunder - Handelsbanken Capital Markets AB, Research Division Ludvig Lundgren - Nordea Markets, Research Division Filip Einarsson - Redeye AB, Research Division

Presentation

Operator

Welcome to Vitrolife Q4 2025 Earnings Call. [Operator Instructions]

Now, I will hand the conference over to CEO, Bronwyn Brophy, and Par Ihrskog. Please go ahead.

Bronwyn Brophy CEO & President

Good morning, everyone, and welcome to the Vitrolife Group Q4 report. I’ll now move you through the first slide of the presentation. Let me start with the highlights. We delivered 6% organic growth in local currency, excluding discontinued business, beating our own internal forecast for the quarter in relation to the top line. Strong growth in Americas, again, driven by North America. I should also call out that APAC also performed very well in the quarter with 10% organic growth in local currency. And the third point that I would like to highlight is that following a strategic review of our Genetic Services business, we announced a restructuring program in December. This will allow us to focus on the key tests and markets with stronger prospects for profitable growth.

I’ll now move on to the next slide, please, and take you through the key highlights. So sales in the fourth quarter were SEK 891 million, an organic growth in local currencies of 6%, as I mentioned, but significantly impacted by minus 10% from currency effects. Gross margin was 58.6% when adjusted for the restructuring. This was a decrease versus Q4 2024, which was exceptionally strong. Additional factors impacting the gross margin are: a currency impact, which is the