Fourth quarter in review

Oct – Dec 2025 (Oct - Dec 2024)

• Net sales in the fourth quarter were 23.7 (2.6) MSEK, an increase of 21.1 MSEK.
• Operating profit in the quarter amounted to  -0.9 (-13.8) MSEK. The improvement is explained by the strong sales increase in the quarter. 
• Profit for the fourth quarter was 1.4 (-13.2) MSEK. The ruling in the Supreme Administrative Court in favor of Bio-Works against the Swedish Tax agency had a positive impact of +2.0 MSEK. The tax surcharge was recognized as an expense in 2023 annual report, due to the uncertainty of appeal.  
• Cash flow from operating activities was -4.2 (13.7) MSEK.
• The order intake for the fourth quarter was 25.6 (6.1) MSEK, an increase of 19.5 MSEK.
• Earnings per share (before and after dilution) amounted to +0.01 (-0.17) SEK. 
• Cash and cash equivalents at the end of the period, on the 31’st of December 2025, were 34.9 (34.3) MSEK.

2025 in review

Jan – Dec 2025 (Jan – Dec 2024)

• _{^{Net sales in the period were 62.5 (25.5) MSEK, an increase of 37.0 MSEK.}}                                                                            
• _{^{Operating profit in the period amounted to -17.5 (-38.0) MSEK. The improvement is explained by the sales increase during the period.}} 
• Profit for the period amounted to -15.2 (-37.4) MSEK.
• Cash flow from operating activities ended at   -18.8 (-43.2) MSEK.
• Bio-Works’ order intake in the period was 94.5 (27.5) MSEK, an increase of 67.0 MSEK.
• Personnel costs and other external costs in total were 64.2 (63.2) MSEK, an increase of 1.6% in the period.
• Other operating costs had a negative impact during period of -1.2 (-0.9) MSEK, explained by negative currency effects from the appreciation of the Swedish currency against USD and EURO.
• Earnings per share (before and after dilution) in the period amounted to -0.17 (-0.75) SEK. 

Message from the CEO

2025 was a breakthrough year for Bio-Works.

We delivered strong growth, as well as a clear improvement in both earnings and cash flow. The fourth quarter is our strongest to date and clearly shows that our business model is delivering as intended — and at an accelerating pace.

Revenue increased sharply both in the quarter and for the full year, driven by solid demand across all regions and several major deliveries. Order intake is at record levels, and the order book at year-end provides us with a stable foundation going into 2026. Encouragingly, the operating result in the fourth quarter is approaching break-even, which motivates us to work even harder to achieve sustainable and growing profitability in the foreseeable future.

During the year, we have continued to focus on commercialization, with clear progress in both affinity chromatography and oligonucleotide purification. The launch of new products and strengthened customer relationships has broadened our customer base and opened doors to new markets. The strategic partnership in South Korea is an important step in our long-term global expansion.

In parallel with our strong commercial development, we have also successfully scaled up our production. Investments in manufacturing have eliminated bottlenecks and increased capacity, while personnel and overhead costs have remained at a controlled level in step with the substantial sales increase. This is crucial for our continued growth journey toward profitability.

Our financial position has strengthened significantly during the year, with improved cash flow and good liquidity. This gives us room to continue investing selectively in growth and scaling.

I would like to extend my warm thanks to our customers and partners for your trust, to our shareholders for your long-term support, and to our employees for your commitment and professionalism. Together, we have taken Bio-Works into a new phase — with clear growth, increased capacity and stability, and sustainable profitability within reach.

Lone Carlbom

CEO Bio-Works Technologies AB

Contacts
For more information, please visit the Bio-Works homepage at, www.bio-works.com or contact: Arne Hauge, CFO, e-mail: arne.hauge@bio-works.com, phone: +46(0)8-502 705 83.

About Bio-Works
Bio-Works enables Biotech companies to achieve their goals for purification of biomolecules. We support our customers, from laboratory research to commercial production, and together we implement efficient and robust solutions for bioprocessing. Our ambition is to be a trusted and dynamic partner in an industry characterized by growth and development.

Bio-Works’ headquarters, with R&D and manufacturing, is located in Uppsala Business Park in Uppsala, Sweden. We supply products globally, through a combination of direct sales and via distributors in Europe, North America and Asia. The company is certified according to the ISO 9001:2015 quality management system. Bio-Works is listed on Spotlight Stock Market ("BIOWKS"). For more information, visit www.bio-works.com.