The first quarter in review

January – March 2025 (January – March 2024)

• Bio-Works’ order intake in the first quarter was 31,6 (6,2) MSEK, an increase of 25,4 MSEK. The order intake has been very strong in Europe, but region USA and Asia also showed positive development during the quarter.   

• Net sales in the first quarter were 9,0 (5,9) MSEK. Large deliveries to customers in Europe and the USA explain the sales increase. 

• Operating profit in the quarter was -7,8 (-12,2) MSEK compared with the first quarter 2024. The 24 MSEK cost reduction program has gone according to plan during the quarter. In addition, the positive development in sales and gross margin has had a positive impact on operating profit.

• Personnel costs amounted to 7,8 (10,1) MSEK. The lower personnel costs can be explained by personnel reductions in 2024.

• The other external costs were 7,0 (7,0) MSEK, at the same level as last year. We continue to focus on keeping costs at current levels. 

• Profit for the first quarter amounted to -8,0 (-11,8) MSEK.

• Earnings per share in the quarter amounted to -0,10(-0,30) SEK – before and after dilution. 

• Cash flow from operating activities was –4,4 (-12,3) MSEK

• Cash and cash equivalents at the end of the period were 29,7 (27,3) MSEK.

Message from the CEO

We have entered 2025 with strong momentum and a clear focus. In the first months of the year, we are already seeing clear results from the collective efforts to build a more efficient and stronger Bio-Works. Costs remain under control, and we are delivering results in the form of growing order intake and improved margins. Our strategic initiative to streamline operations is bearing fruit, and its impact is visible throughout the organization.

Order intake reached a new record in the first quarter of 2025, amounting to SEK 31.6 million – the highest for any quarter in Bio-Works’ history, something we are proud of. Growth has remained strong beyond the end of the quarter, with additional orders totalling SEK 14.4 million in April. Our returning customers – a vital part of our business – continue to choose Bio-Works for our high product quality, reliable deliveries, and the personal and professional service we are known for.

We also see a highly promising pipeline ahead, with several new deals and collaborations in various stages. This is a strong indication that our offering meets the high standards of the biopharma industry – and that we are earning strong trust from both existing and new customers.

While we continue to drive sales, we are also working purposefully to strengthen our delivery capabilities. By simplifying processes, removing bottlenecks, and shortening lead times, we are scaling up production in a sustainable way. These efforts are building a solid platform for continued growth and ensuring that we can meet future increases in demand.

Our combination of innovative products, high-quality manufacturing, and a committed team puts us in a strong position to continue our journey toward becoming a leading player in the market. That is why I am pleased to announce that Kirsti Gjellan, who has declined re-election to the company’s Board of Directors, has instead chosen to remain as an advisor to the management team and, in the long term, the board. With her solid experience and expertise, Kirsti will continue to be a valuable resource as we take the next steps on our growth journey.

A heartfelt thank you to all our fantastic employees for your dedication, to our customers for your trust, and to our shareholders for your continued support. Together, we are accelerating Bio-Works forward – and the journey has only just begun.

Lone Carlbom

CEO Bio-Works Technologies

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.