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Bactiguard Holding
Earnings Release • Jul 15, 2025
3004_ir_2025-07-15_0be3f783-f751-462c-a71a-9e2fa34d42a4.pdf
Earnings Release
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INTERIM REPORT SECOND QUARTER 2025
Positive EBITDA momentum carried forward in Q2
Second quarter 2025 (April – June)
- Total revenue amounted to SEK 52.1 (60.9) million, a decrease of SEK 8.8 million corresponding to 14.4%.
- Net sales amounted to SEK 48.2 (57.4) million, a decrease of SEK 9.1 million corresponding to 15.9%. Adjusted for currency effects of SEK -3.8 million, net sales decreased by 9.4%.
- Operating loss amounted to SEK 7.3 (10.8) million.
- EBITDA amounted to SEK 4.4 (1.2) million.
- Net loss for the period amounted to SEK 8.1 (14.3) million.
- Loss per share, before and after dilution, amounted to SEK 0.24 (0.41).
- Cash flow from operating activities amounted to SEK 1.7 (16.8) million corresponding to SEK 0.05 (0.48) per share.
First half-year 2025 (January – June)
- Total revenue amounted to SEK 114.9 (119.7) million, a decrease of SEK 4.8 million corresponding to 4.0%.
- Net sales amounted to SEK 107.3 (111.3) million, a decrease of SEK 4.0 million corresponding to 3.6%. Adjusted for currency effects of SEK -2.0 million, net sales decreased by 1.8%.
- Operating loss amounted to SEK 9.9 (23.7) million.
- EBITDA amounted to SEK 13.8 (-0.3) million.
- Net loss for the period amounted to SEK 12.8 (24.2) million.
- Loss per share, before and after dilution, amounted to SEK 0.37 (0.69).
- Cash flow from operating activities amounted to SEK -10.4 (-2.2) million corresponding to SEK -0.30 (-0.06) per share.
| Key figures | Apr-Jun | Jan-Jun | RTM | ||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 | ||
| Total revenue¹,MSEK | 52.1 | 60.9 | 114.9 | 119.7 | 261.9 | 257.0 | |
| Operating profit/loss¹,MSEK | -7.3 | -10.8 | -9.9 | -23.7 | -28.9 | -15.1 | |
| EBITDA²,MSEK | 4.4 | 1.2 | 13.8 | -0.3 | 18.0 | 32.1 | |
| EBITDA margin²,% | 8.4 | 2.0 | 12.0 | -0.2 | 6.9 | 12.5 | |
| Net profit/loss for the period¹,MSEK | -8.1 | -14.3 | -12.8 | -24.2 | -29.8 | -18.4 | |
| Earnings per share¹,SEK | -0.24 | -0.41 | -0.37 | -0.69 | -0.85 | -0.53 | |
| Cash flow from operating activities ¹,MSEK | 1.7 | 16.8 | -10.4 | -2.2 | 25.0 | 16.8 | |
| Cash flow from operating activities, per share²,SEK | 0.05 | 0.48 | -0.30 | -0.06 | 0.71 | 0.48 | |
| Equity ratio²,% | 55.1 | 48.5 | 55.1 | 48.5 | 50.1 | 55.1 | |
| Net debt²,MSEK | 123.4 | 134.0 | 123.4 | 134.0 | 111.0 | 123.4 |
1 Defined according to IFRS. 2 Alternative performance measure. For definition and reconciliation, see pages 15-16.
CEO statement
Positive EBITDA momentum carried forward in Q2
Bactiguard continued the profitability trend in Q2 with an EBITDA of SEK 4.4 million (Q2 2024: SEK 1.2 million). Revenues amounted to SEK 52.1 million (Q2 2024: SEK 60.9 million), a decrease of 14.4 percent compared to Q2 last year. Total license revenues came in at SEK 34.1 million (Q2 2024: SEK 37.8 million). License partner revenues from BD were SEK 19.2 million (Q2 2024: SEK 27.6 million), lower than previous quarters due to longer than expected timelines to market registration, and from Zimmer Biomet SEK 14.2 million (Q2 2024: SEK 10.2 million) related primarily to minimum royalties. USD currency effects negatively impacted revenues and excluding these, license partner revenues grew by 7.3 percent. The Wound Management portfolio reported revenues of SEK 13.8 million (Q2 2024: SEK 14.7 million). During the quarter early feasibility work related to the cardiology therapeutic area was initiated.
License partner revenues continue to grow net of currency headwind
Total license revenues for Q2 amounted to SEK 34.1 million (Q2 2024: SEK 37.8 million), a decrease of 9.9 percent compared to Q2 last year. Revenues from license partner BD (Becton, Dickinson & Company) came in at SEK 19.2 million for Q2 (Q2 2024: SEK 27.6 million). While this is lower than recent quarters, momentum in our partnership remains strong and our joint focus is on ensuring launch readiness for additional markets. This includes BD having coated products available for a smooth rollout as well as obtaining all relevant regulatory approvals which is an area where we are experiencing delays. Despite longer than expected timelines in the market registrations, BD and Bactiguard are fully aligned in the process to enable the Bactiguard-coated Foley business to grow. Although the path to commercialization in each individual market may take time, Bactiguardcoated Foley catheters represent strong long-term value for both BD and Bactiguard.
Revenues from our license partner Zimmer Biomet for Q2 amounted to SEK 14.2 million (Q2 2024: SEK 10.2 million). Most of the revenues are related to minimum royalties. The collaboration with Zimmer Biomet remains focused on commercialization of the ZNN Bactiguard orthopedic trauma nail across the European market including the efforts related to the transition to the MDR regulatory requirements. A recent example was Zimmer Biomet's participation at the International Consensus Meeting on Infections in Istanbul in May where the ZNN Bactiguard system was presented. Infection prevention is truly in focus within our orthopedics strategic therapeutic area.
Given Bactiguard's substantial USD exposure in the license business, the weaker USD continues to have a negative impact on our results. The currency effect for the second quarter 2025 was SEK -3.6 million. Excluding the negative currency effect, license partner revenues grew by 7.3 percent.
Early feasibility work in cardiology initiated
During the quarter early feasibility work with Bactiguard's coating under Material Transfer Agreement related to the cardiology therapeutic area was initiated. Cardiology is one of the newer strategic therapeutic areas and presents significant potential for Bactiguard, with an addressable market of approximately USD 10 billion. The therapeutic area includes a variety of implantable devices that are susceptible to infections. These infections pose a major challenge, often leading to complications that necessitate surgical intervention and places considerable strain on both patient recovery and healthcare resources.
While we are enthusiastic about the developments during the quarter, we recognize that commercialization of medical devices requires a long-term approach. With the timelines to approval that can vary by device classification, we know that bringing new or existing applications to market with the Bactiguard coating can take several years from early-stage testing. In this context, I want to reiterate that Bactiguard's efforts in business development and in partnerships established in the nearer term are expected to deliver operational leverage and scalability over time. We remain confident in our stepwise and diligent approach to focus on areas of high unmet need and target partnerships where the value of the Bactiguard coating is relevant.
Hydrocyn aqua main contributor to Wound Management
Turning to the Wound Management portfolio, revenues were SEK 13.8 million (Q2 2024: SEK 14.7 million), a decrease of 5.9 percent. Hydrocyn aqua continued to deliver strong growth and now represents most of the revenues. Over the first six months of 2025, the total Wound Management portfolio delivered 21.0 percent growth net of currency effects compared to last year and we still expect double-digit growth.
Strengthening knowledge and specialist organization
Looking ahead, we remain focused on continuing to drive growth and profitability, maintaining disciplined cost control, strengthening existing partnerships, and advancing new opportunities and early-stage testing in our key strategic therapeutic areas. We will continue to enhance our knowledge and specialist expertise, with additional experts joining Bactiguard after the summer to continue to strengthen our capabilities in the areas of Business Development, R&D, and Quality & Regulatory. Infection prevention remains our mission – and continues to increase in relevance. Our vision is clear, and it drives everything we do: to become the global standard of care for preventing medical device-related infections.
Christine Lind, CEO
Business model
Bactiguard is a global MedTech company developing safe and biocompatible technology to prevent medical device related infections. The company's unique technology is based on an ultra-thin noble metal coating that prevents bacterial adhesion and biofilm formation on medical devices.
Bactiguard's infection prevention solutions decrease patient suffering, save lives, and unburden healthcare resources while also fighting against antimicrobial resistance, one of the most serious threats to global health and modern medicine.
Bactiguard operates through license partnerships with leading global MedTech companies that apply the infection prevention technology to their medical devices and sell them under their own brand or co-branded with Bactiguard. Our license-focused business model is scalable with operational leverage.
Partnerships across three phases
Bactiguard's license revenues have three components: we receive revenues for coating and process development, we receive revenues for the right to use the coating technology on medical devices within a specific application and geographical area, and we receive royalties – a variable remuneration once the license partners' products reach the market. The revenues are generated across three partnership phases: application development, exclusivity and license.
An application development partner works in close collaboration with Bactiguard's R&D team exploring the application of our infection prevention technology to the partners' underlying device to enhance its performance. The nature of development work means that not every project will succeed, but the learnings are valuable for other application areas.
An exclusivity partner gets exclusive rights to apply our coating technology to a certain medical device but has no products in the market yet, for instance due to pending regulatory approvals, which can take time depending on the type of application and its classification.
A license partner has the right to market and sell medical devices with Bactiguard's coating technology, in a certain region or globally.
Not all partnerships will follow all three phases. An agreement with a partner can generate revenues from separate phases and components simultaneously.
| Partnerships | Application area | Market | ||
|---|---|---|---|---|
| Becton, Dickinson & Company (BD) | Urinary catheters (Foley) | Global excl. China | ||
| Zimmer Biomet | Trauma implants | Global excl. Southeast Asia, China, India, and South Korea |
||
| Well Lead Medical | Urinary catheters | China |
Development in the second quarter
Revenue
| Apr-Jun | |||||
|---|---|---|---|---|---|
| MSEK | 2025 | 2024 | |||
| Total license revenue | 34.1 | 37.8 | |||
| License partners | 34.1 | 35.1 | |||
| Exclusivity partners | - | 2.7 | |||
| Application development partners | - | - | |||
| Wound Management portfolio | 13.8 | 14.7 | |||
| BIP portfolio | 0.3 | 4.8 | |||
| Net sales | 48.2 | 57.4 | |||
| Other operating revenues | 3.9 | 3.5 | |||
| Total revenue | 52.1 | 60.9 |
Total revenue for the second quarter amounted to SEK 52.1 (60.9) million, a decrease of SEK 8.8 million, corresponding to 14.4 percent. Adjusted for currency effects of SEK -2.8 million, revenue decreased by 9.8 percent.
Net sales amounted to SEK 48.2 (57.4) million, a decrease of SEK 9.1 million, corresponding to 15.9 percent. Adjusted for currency effects of SEK -3.8 million, net sales decreased by 9.4 percent.
Total license revenue amounted to SEK 34.1 (37.8) million, a decrease of SEK 3.7 million, corresponding to 9.9 percent. Adjusted for currency effects of SEK -3.6 million, total license revenues decreased by 0.3 percent. Revenues from Becton, Dickinson & Company (BD) amounted to SEK 19.2 (27.6) million, a decrease of SEK 8.4 million, corresponding to 30.3 percent. Adjusted for currency effects of SEK -2.6 million, revenues from BD decreased by 20.8 percent. Revenues from Zimmer Biomet amounted to SEK 14.2 (10.2) million, an increase of SEK 3.9 million, corresponding to 38.4 percent. Adjusted for currency effects of SEK -0.9 million, revenues from Zimmer increased by 47 percent. These revenues pertain mainly to minimum royalties from the trauma product segment agreement.
Revenues from license partners amounted to SEK 34.1 (35.1) million, a decrease of SEK 1.0 million, corresponding to 3.0 percent. Adjusted for currency effects of SEK -3.6 million, revenues from license partners increased by 7.3 percent.
Revenues from exclusivity partners amounted to SEK 0.0 (2.7) million.
Revenues from application development partners amounted to SEK 0.0 (0.0) million.
Revenues from Wound Management portfolio amounted to SEK 13.8 (14.7) million, a decrease of SEK 0.9 million, corresponding to 5.9 percent. Adjusted for currency effects of SEK -0.1 million, revenues from Wound Management portfolio decreased by 5.0 percent.
Revenues from the BIP portfolio amounted to SEK 0.3 (4.8) million, a decrease of SEK 4.5 million, corresponding to 93.3 percent with and without currency effects. As planned, we do not expect any significant BIP revenues in 2025.
Other revenues amounted to SEK 3.9 (3.5) million, an increase of SEK 0.3 million, corresponding to 9.6 percent. Currency effects amounted to SEK 0.9 (1.5) million and the remaining revenue primarily relates to rent income.
Result
Costs for raw materials and consumables for the second quarter amounted to SEK -5.6 (-11.9) million, a decrease of SEK 6.3 million, corresponding to 53.2 percent. Other external costs amounted to SEK -16.2 (-19.3) million, a decrease of SEK 3.0 million, corresponding to 15.8 percent. Personnel costs amounted to SEK -23.4 (-27.2) million, a decrease of SEK 3.8 million, corresponding to 13.9 percent. Other operating expenses are related to currency exchange losses/gains, which amounted to SEK -1.3 (-1.3) million. Total operating expenses (OPEX) amounted to SEK -40.9 (-47.8) million, a decrease of SEK 6.9 million, corresponding to 14.4 percent.
The operating loss amounted to SEK 7.3 (10.8) million, a decrease of SEK 3.6 million, corresponding to 32.7 percent. The decrease is mainly pertained to lowered cost of goods following our transformation and continued cost control measures, leading to more efficient spending and improved overall financial performance.
EBITDA for the second quarter amounted to SEK 4.4 (1.2) million, an increase of SEK 3.2 million. The EBITDA margin was 8.4 (2.0) percent.
Depreciation and amortization amounted to SEK -11.7 (-12.1) million, a decrease of SEK 0.4 million, corresponding to 3.2 percent. Amortization of intangible assets amounted to SEK -7.1 (-7.4) million, attributable primarily to amortization of SEK -6.4 (-6.4) million related to Bactiguard's technology. Depreciation of tangible assets amounted to SEK -4.6 (-4.6) million, primarily attributable to depreciation on leasing of SEK -3.2 (-3.7) million.
Financial items amounted to SEK -2.5 (-5.0) million. Financial income amounted to SEK 0.0 (-0.4) million. Financial expenses amounted to SEK -2.5 (-4.6) million which mainly pertained to interest expenses of SEK -2.0 (-3.7) million.
Tax for the period amounted to SEK 0.0 (0.0) million. Change in deferred tax amounted to SEK 1.7 (1.6) million attributable to the intangible assets and leases, which is calculated at the Swedish tax rate of 20.6 percent. Income tax in foreign subsidiaries is calculated on the basis of a tax rate of 24.0 percent.
Net loss for the second quarter of 2025 amounted to SEK 8.1 (14.3) million.
Development during the first half-year
Revenue
| Jan-Jun | Full year | RTM | |||
|---|---|---|---|---|---|
| MSEK | 2025 | 2024 | 2024 | 2024/25 | |
| Total license revenue | 73.4 | 73.0 | 164.7 | 165.1 | |
| License partners | 73.3 | 67.6 | 155.4 | 161.2 | |
| Exclusivity partners | - | 5.3 | 7.7 | 2.5 | |
| Application development partners | 0.0 | 0.1 | 1.5 | 1.5 | |
| Wound Management portfolio | 33.0 | 27.4 | 60.9 | 66.5 | |
| BIP portfolio | 0.9 | 10.9 | 16.0 | 6.0 | |
| Net sales | 107.3 | 111.3 | 241.7 | 237.7 | |
| Other operating revenues | 7.6 | 8.4 | 20.2 | 19.4 | |
| Total revenue | 114.9 | 119.7 | 261.9 | 257.0 |
Total revenue for the first half-year amounted to SEK 114.9 (119.7) million, a decrease of SEK 4.8 million, corresponding to 4.0 percent with and without currency effects
Net sales amounted to SEK 107.3 (111.3) million, a decrease of SEK 4.0 million, corresponding to 3.6 percent. Adjusted for currency effects of SEK -2.0 million, net sales decreased by 1.8 percent.
Total license revenue amounted to SEK 73.4 (73.0) million, an increase of SEK 0.4 million, corresponding to 0.6 percent. Adjusted for currency effects of SEK -1.9 million, total license revenues increased by 3.1 percent. Revenues from Becton Dickinson & Company (BD) amounted to SEK 51.4 (55.6) million, a decrease of SEK 4.1 million, corresponding to 7.4 percent. Adjusted for currency effects of SEK -1.0 million, revenues from BD decreased by 5.7 percent. Revenues from Zimmer Biomet amounted to SEK 15.0 (13.4) million, an increase of SEK 1.6 million, corresponding to 11.8 percent. Adjusted for currency effects of SEK -1.0 million, revenues from Zimmer increased by 18.8 percent. These revenues pertain mainly to minimum royalties from the trauma product segment agreement.
Revenues from license partners amounted to SEK 73.3 (67.6) million, an increase of SEK 5.8 million, corresponding to 8.6 percent. Adjusted for currency effects of SEK -1.9 million, revenues from license partners increased by 11.3 percent.
Revenues from exclusivity partners amounted to SEK 0.0 (5.3) million.
Revenues from application development partners amounted to SEK 0.0 (0.1) million.
Revenues from Wound Management portfolio amounted to SEK 33.0 (27.4) million, an increase of SEK 5.6 million, corresponding to 20.4 percent. Adjusted for currency effects of SEK -0.1 million, revenues from Wound Management portfolio increased by 21.0 percent.
Revenues from the BIP portfolio amounted to SEK 0.9 (10.9) million, a decrease of SEK 10.0 million, corresponding to 92.0 percent with and without currency effect. As planned, we do not expect any significant BIP revenues in 2025.
Other revenues amounted to SEK 7.6 (8.4) million, a decrease of SEK 0.8 million, corresponding to 10.0 percent. Currency effects amounted to SEK 2.1 (4.2) million and the remaining revenue primarily relates to rent income.
Result
Costs for raw materials and consumables for the first half-year amounted to SEK -17.8 (-23.4) million, a decrease of SEK 5.6 million, corresponding to 23.8 percent. Other external costs amounted to SEK -31.8 (-38.0) million, a decrease of SEK 6.2 million, corresponding to 16.2 percent. Personnel costs amounted to SEK -46.6 (-56.6) million, a decrease of SEK 10.0 million, corresponding to 17.7 percent. Other operating expenses are related to currency exchange losses/gains, which amounted to SEK -4.9 (-2.1) million. In total operating expenses (OPEX) amounted to SEK -83.3 (-96.7) million, a decrease of SEK 13.4 million, corresponding to 13.8 percent.
The operating loss amounted to SEK 9.9 (23.7) million, a decrease of SEK 13.8 million, corresponding to 58.2 percent. The decrease is mainly pertained to increased revenues together with lowered cost of goods following our transformation, and continued cost control measures, leading to more efficient spending and improved overall financial performance.
EBITDA for the first half-year amounted to SEK 13.8 (-0.3) million, an increase of SEK 14.1 million. EBITDA margin was 12.0 (-0.2) percent.
Depreciation and amortisation amounted to SEK -23.7 (-23.4) million, an increase of SEK 0.3 million, corresponding to 1.2 percent. Amortization of intangible assets amounted to SEK -14.2 (-14.3) million, attributable primarily to amortization of SEK -12.7 (-12.7) million related to Bactiguard's technology. Depreciation of fixed assets amounted to SEK -9.5 (-9.2) million, primarily attributable to depreciation on leasing of SEK -6.6 (-7.3) million.
Financial items amounted to SEK -7.4 (-4.4) million. Financial income amounted to SEK 0.0 (4.1) million while financial expenses amounted to SEK -7.4 (-8.5) million which mainly pertained to interest expenses of SEK -4.6 (-7.3) million.
Tax for the period amounted to SEK 0.0 (0.0) million. Change in deferred tax amounted to SEK 4.5 (3.9) million attributable to the intangible assets and leases, which is calculated at the Swedish tax rate of 20.6 percent. Income tax in foreign subsidiaries is calculated on the basis of a tax rate of 24.0 percent.
Net loss for the first half-year of 2025 amounted to SEK 12.8 (24.2) million.
Cash flow
Cash flow from operating activities for the quarter amounted to SEK 1.7 (16.8) million and for the period January to June to SEK -10.4 (-2.2) million. Change in working capital for the quarter amounted to SEK 4.9 (22.1) million and for the period January to June to SEK -3.9 (10.9) million.
Cash flow from investing activities for the quarter amounted to SEK -1.8 (-4.0) million and for the period January to June to SEK -1.9 (-10.2) million.
Cash flow from financing activities for the quarter amounted to SEK -0.4 (-3.3) million and for the period January to June to -55.9 (-9.7), mainly pertained to the amortization of SEK 51.0 million of the financing with SEB.
Cash flow for the quarter amounted to SEK -0.4 (9.5) million and for the period January to June to SEK -68.2 (-22.1) million. Cash and cash equivalents at the end of the period of 30 June 2025 amounted to SEK 46.1 (105.3) million.
Financial position
Equity on 30 June 2025 amounted to SEK 309.4 (328.5) million and net debt to SEK 123.4 (134.0) million. Total assets on 30 June 2025 amounted to SEK 561.6 (677.3) million.
As of 30 June 2025, the parent company's liabilities with SEB amounted to SEK 120.0 (170.9) million. As of 30 June 2025, the approved overdraft facility from SEB of SEK 30 million was not utilized. Foreign subsidiaries had credit facilities amounting to SEK 8.0 (3.3) million, of which SEK 2.2 million was utilized as of 30 June 2025.
At the beginning of February 2025, the company amortized SEK 51.0 million of the SEK 170.9 million financing with SEB, while securing SEK 120.0 million in new financing on better terms. The new loan runs for two years and with an option to extend it for another year.
Employees
Full-time equivalents in the Group during the period January to June averaged to 162 (188) FTE of which 101 (114) are women. On 30 June 2025, the number of full-time equivalents was 148 FTE.
The share and share capital
Bactiguard's B share is listed on Nasdaq Stockholm with the short name "BACTI B". The closing price for the B share was SEK 28.4 (69.6) on 30 June 2025 and the market capitalization amounted to SEK 995 (2,439) million.
The share capital in Bactiguard on 30 June 2025 amounted to SEK 0.9 (0.9) million divided into 31,043,885 Class B shares with one vote each (31,043,885 votes) and 4,000,000 Class A shares with ten votes each (40,000,000 votes). The total number of shares and votes in Bactiguard on 30 June 2025 was 35,043,885 shares and 71,043,885 votes.
Ownership
| Shareholders | No. of A shares |
No. of B | shares Total number | % of capital | % of votes | |
|---|---|---|---|---|---|---|
| TomBact AB¹ | 2,000,000 | 4,443,787 | 6,443,787 | 18.4 | 34.4 | |
| GIDL Invest AB² | 2,000,000 | 4,106,497 | 6,106,497 | 17.4 | 33.9 | |
| Nordea Funds | 3,676,449 | 3,676,449 | 10.4 | 5.1 | ||
| Jan Ståhlberg | 3,605,150 | 3,605,150 | 10.3 | 5.1 | ||
| The Fourth Swedish National Pension Fund | 3,475,992 | 3,475,992 | 9.9 | 4.9 | ||
| Handelsbanken Fonder | 2,072,771 | 2,072,771 | 5.9 | 2.9 | ||
| TomEnterprise Public Capital AB¹ | 1,885,384 | 1,885,384 | 5.4 | 2.7 | ||
| AMF - försäkring och fonder | 1,712,088 | 1,712,088 | 4.9 | 2.4 | ||
| Insurance company Avanza Pension | 1,052,647 | 1,052,647 | 3.1 | 1.5 | ||
| Lancelot Asset Management AB | 500,000 | 500,000 | 1.4 | 0.7 | ||
| Total, major shareholders | 4,000,000 | 26,530,765 | 30,530,765 | 87.1 | 93.6 | |
| Total, others | 4,513,120 | 4,513,120 | 12.9 | 6.4 | ||
| Total number of shares | 4,000,000 | 31,043,885 | 35,043,885 | 100.0 | 100.0 |
1 Company controlled by Thomas von Koch. 2 Company controlled by Christian Kinch.
Per 30 June 2025 Bactiguard had 2,947 (3,159) shareholders.
Key events
Key events during the quarter No key events during the quarter.
Key events after the end of the quarter
No key events after the end of the quarter.
Financial targets
The company's financial targets relate to growth and profitability and are expected to be delivered by year-end 2030. The financial and strategic targets should not be perceived as a forecast but rather reflect what Bactiguard's Board of Directors and Executive Management consider to be reasonable mid-term expectations given the sharpened license focused strategy.
Revenues: deliver revenues of at least SEK 600 million by year-end 2030
EBITDA: deliver an EBITDA of at least SEK 200 million by year-end 2030
Partnership development: have at least ten application areas in either exclusivity partnerships or license partnerships by year-end 2030
Other information
Accounting and valuation principles
The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS). The interim report has been prepared in accordance with IAS 34 Interim Reporting and the Annual Accounts Act. Disclosures in accordance with IAS 34 Interim Reporting are submitted both in notes and elsewhere in the interim report. The parent company's financial statements have been prepared in accordance with the Annual Accounts Act and the Financial Reporting Board's recommendation, RFR 2 Accounting for Legal Entities.
Accounting and valuation principles are stated in the annual report 2024. The accounting principles are unchanged from previous periods.
Segment reporting
An operating segment is a component of an entity that engages in business activities from which it may derive revenues and incur expenses, whose operating results are regularly reviewed by the chief operating decision maker and for which there is separate financial information. The company's reporting of operating segments is consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker is the function that assesses the operating segment performance and decides how to allocate resources. The company has determined that the Group's executive management constitutes of the chief operating decision maker. The company is considered in its entirety to operate within one business segment.
Parent company
During the period, the parent company has received compensation for services and interest in its receivables from group companies. No investments were made during the period.
Risk factors
Companies within the Group are exposed to various types of risk through their activities. Bactiguard continually engages in a process of identifying all risks that may arise and assessing how each of these risks shall be managed. The Group is working to create an overall risk management program that focuses on minimizing potential adverse effects on the company's financial results. The company is primarily exposed to financial risks, market risks and operational risks. A description of these risks can be found on page 18-19 and 53–55 in the annual report 2024.
The geopolitical situation and macro trends
In addition to identified risks, the macro situation and its impact is continuously monitored. The global healthcare challenges have a significant impact on society. The need for more efficient and safe healthcare is driven by both economic and demographic developments, as well as increased political unrest, conflicts, wars, and natural disasters. Particularly prominent are healthcare-associated infections and antimicrobial resistance where we see an increased interest in infection prevention.
Bactiguard does not have suppliers in or sales to any of Russia, Belarus, or Ukraine. However, the global economy is affected by the situation of the war, and we follow developments closely and continuously evaluate the operational and financial effects as the global situation may change and affect the company's financial position. Bactiguard has a subsidiary in Israel. We are closely following the developments there and our primary focus is to ensure the staff's well-being and security. We make the assessment that the conflict in Israel will have a negligible effect on the group's result and financial position.
While we see falling inflation levels, inflation and higher prices can continue to affect the company negatively as it is not always possible to change the price to the customers, all of which can affect the financial position negatively. The falling inflation levels can lead to lower interest rates, which can positively impact the interest costs. Some countries are now in or close to recession, which can lead to a decreased ability for customers to pay their invoices. Bactiguard has substantial USD exposure in the license business and a weaker USD will have a negative effect on the results, see the annual report 2024. The company does not hedge the currency exposure. Developments are monitored closely, given the rapidly evolving landscape.
Group consolidated income statement
| Apr-Jun | Jan-Jun | Full year | RTM | ||||
|---|---|---|---|---|---|---|---|
| TSEK | Note | 2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 |
| Revenues | 1 | ||||||
| Net sales | 48,243 | 57,353 | 107,289 | 111,279 | 241,678 | 237,687 | |
| Other operating income | 3,871 | 3,540 | 7,566 | 8,407 | 20,200 | 19,358 | |
| Total | 52,115 | 60,893 | 114,855 | 119,686 | 261,877 | 257,045 | |
| Change in inventory of finished goods and products in progress |
-1,252 | 16 | 21 | 44 | 148 | 125 | |
| Capitalized production | - | - | - | - | - | - | |
| Raw materials and consumables | -5,562 | -11,880 | -17,804 | -23,355 | -36,117 | -30,567 | |
| Other external expenses | -16,220 | -19,257 | -31,835 | -38,008 | -87,567 | -81,394 | |
| Personnel costs | -23,438 | -27,221 | -46,566 | -56,596 | -111,462 | -101,432 | |
| Depreciation and amortization | -11,673 | -12,057 | -23,693 | -23,423 | -46,883 | -47,153 | |
| Other operating expenses | -1,264 | -1,340 | -4,883 | -2,061 | -8,857 | -11,680 | |
| Total | -59,409 | -71,739 | -124,761 | -143,399 | -290,738 | -272,100 | |
| Operating profit/loss | -7,294 | -10,846 | -9,906 | -23,713 | -28,860 | -15,055 | |
| Profit/loss from financial items | |||||||
| Financial income | 5 | -400 | 21 | 4,136 | 7,844 | 3,729 | |
| Financial expenses | -2,524 | -4,644 | -7,407 | -8,513 | -15,566 | -14,461 | |
| Total | -2,519 | -5,044 | -7,386 | -4,377 | -7,722 | -10,732 | |
| Profit/loss before tax | -9,814 | -15,890 | -17,292 | -28,090 | -36,585 | -25,787 | |
| Current tax | - | - | - | - | - | - | |
| Deferred tax | 1,702 | 1,572 | 4,452 | 3,871 | 6,769 | 7,350 | |
| NET PROFIT/LOSS FOR THE PERIOD | -8,112 | -14,318 | -12,840 | -24,219 | -29,815 | -18,437 | |
| Attributable to: | |||||||
| The parent company´s shareholders | -8,112 | -14,318 | -12,840 | -24,219 | -29,815 | -18,437 | |
| Earnings per share, before and after dilution, SEK |
-0.24 | -0.41 | -0.37 | -0.69 | -0.85 | -0.53 |
Condensed statement of comprehensive income
| Apr-Jun | Jan-Jun | RTM | |||||
|---|---|---|---|---|---|---|---|
| TSEK | Note | 2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 |
| Net profit/loss for the period | -8,112 | -14,318 | -12,840 | -24,219 | -29,815 | -18,437 | |
| Other comprehensive income: | |||||||
| Items that will not be reclassified to profit or loss for the year |
- | - | - | - | - | - | |
| Items that will be reclassified to profit or | |||||||
| loss for the year | |||||||
| Translation differences | -207 | -597 | -6,140 | -470 | 4,979 | -691 | |
| Other comprehensive income, after tax | -207 | -597 | -6,140 | -470 | 4,979 | -691 | |
| TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
-8,319 | -14,915 | -18,980 | -24,689 | -24,836 | -19,128 | |
| Attributable to: | |||||||
| The parent company´s shareholders | -8,319 | -14,915 | -18,980 | -24,689 | -24,836 | -19,125 | |
| Number of shares at the end of period ('000) | 35,044 | 35,044 | 35,044 | 35,044 | 35,044 | 35,044 | |
| Weighted average number of shares ('000) | 35,044 | 35,044 | 35,044 | 35,044 | 35,044 | 35,044 |
Group condensed statement of financial position
TSEK Note 2025-06-30 2024-06-30 2024-12-31 ASSETS Non-current assets Intangible fixed assets Goodwill 248,520 248,967 251,817 Technology 35,461 60,538 48,179 Brands 25,579 25,656 25,602 Customer relationships 3,143 4,386 3,856 Capitalized development costs 1,068 2,171 1,619 Patent 776 1,345 962 Total 314,547 343,062 332,035 Tangible assets Right of use lease assets 45,343 60,006 52,685 Buildings 22,720 23,501 25,588 Leasehold improvements 17,509 4,465 18,513 Machinery and other technical plant 5,098 6,691 6,554 Equipment, tools and installations 7,245 17,772 5,837 Total 97,915 112,433 109,177 Financial assets Other non-current receivables 2,874 2,918 2,937 Total 2,874 2,918 2,937 Deferred tax assets 21,994 13,314 17,517 Total non-current assets 437,330 471,728 461,669 Current assets Inventory 27,704 36,103 26,231 Accounts receivable 27,714 34,972 25,046 Other current receivables 2 11,150 12,960 12,960 Prepaid expenses and accrued income 11,668 16,300 13,279 Cash and cash equivalents 46,100 105,275 116,727 Total current assets 124,336 205,610 194,243 TOTAL ASSETS 561,666 677,338 655,911 EQUITY AND LIABILITIES Equity attributable to shareholders of the parent Share capital 876 876 876 Translation reserve -2,018 -1,325 4,124 Other capital contribution 930,680 930,680 930,680 Retained earnings including net profit/loss for the period -620,177 -601,742 -607,338 Total equity 309,362 328,489 328,342 Non-current liabilities Liabilities to credit institutions 120,222 - - Leasing liabilities 35,225 48,039 40,694 Provisions 5,257 5,257 5,257 Other long-term liabilities 83 281 - Total non-current liabilities 160,787 53,577 45,951 Current liabilities Liabilities to credit institutions - 175,105 170,893 Leasing liabilities 14,017 16,151 16,180 Accounts payable 20,860 38,527 22,925 Provisions 16,889 9,111 18,104 Other current liabilities 2 1,799 2,751 3,312 Accrued expenses and prepaid income 37,952 53,627 50,204 Total current liabilities 91,517 295,272 281,618 TOTAL LIABILITIES 252,304 348,849 327,569
TOTAL EQUITY AND LIABILITIES 561,666 677,338 655,911
Group condensed statement of changes in equity
| Retained | ||||||
|---|---|---|---|---|---|---|
| earnings | ||||||
| Other | including net | |||||
| Share | capital | profit/loss for | ||||
| TSEK | capital | contribution | Reserves | the period | Total equity | |
| Opening balance 2024-01-01 | 876 | 930,680 | -855 | -577,523 | 353,178 | |
| Net profit/loss for the period | - | - | - | -24,219 | -24,219 | |
| Other comprehensive income: | ||||||
| Translation differences | - | - | -470 | - | -470 | |
| Total comprehensive income after tax | - | - | -470 | -24,219 | -24,689 | |
| Closing balance 2024-06-30 | 876 | 930,680 | -1,325 | -601,742 | 328,489 | |
| Opening balance 2025-01-01 | 876 | 930,680 | 4,124 | -607,338 | 328,342 | |
| Net profit/loss for the period | - | - | - | -12,840 | -12,840 | |
| Other comprehensive income: | ||||||
| Translation differences | - | - | -6,140 | - | -6,140 | |
| Total comprehensive income after tax | - | - | -6,140 | -12,840 | -18,980 | |
| Closing balance 2025-06-30 | 876 | 930,680 | -2,016 | -620,178 | 309,362 |
Group condensed statement of cash flows
| Apr-Jun | Jan-Jun | Full year | RTM | ||||
|---|---|---|---|---|---|---|---|
| TSEK | Note | 2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 |
| Net profit/loss for the period | -8,112 | -14,318 | -12,840 | -24,219 | -29,815 | -18,437 | |
| Adjustments for depreciation and amortization and other non-cash items |
4,944 | 9,030 | 6,376 | 11,131 | 38,255 | 33,500 | |
| Increase/decrease inventory | -4,583 | -6,250 | 1,000 | -5,072 | 12,858 | 18,930 | |
| Increase/decrease accounts receivable | 7,148 | -699 | -3,211 | -16,686 | -7,290 | 6,185 | |
| Increase/decrease other current receivables | 1,924 | 3,765 | -992 | -1,279 | -5,031 | -4,744 | |
| Increase/decrease accounts payable | -2,863 | 18,769 | -2,065 | 21,832 | 6,230 | -17,667 | |
| Increase/decrease other current liabilities | 3,272 | 6,545 | 1,353 | 12,080 | 9,782 | -945 | |
| Cash flow from changes in working capital | 4,896 | 22,131 | -3,917 | 10,875 | 16,549 | 1,757 | |
| Cash flow from operating activities | 1,729 | 16,843 | -10,380 | -2,213 | 24,989 | 16,822 | |
| Investments in intangible assets | - | - | - | - | - | - | |
| Investments in tangible assets | -1,777 | -3,960 | -1,905 | -10,184 | -14,781 | -6,502 | |
| Cash flow from investing activities | -1,777 | -3,960 | -1,905 | -10,184 | -14,781 | -6,502 | |
| Amortization of financial leasing liability | -1,508 | -3,632 | -4,957 | -6,207 | -13,522 | -12,272 | |
| Amortization of loan | - | 295 | -52,048 | -3,464 | -7,676 | -56,260 | |
| Change in bank overdraft | 1,133 | - | 1,133 | - | - | 1,133 | |
| Other financing activities | - | - | - | - | - | - | |
| Cash flow from financing activities | -374 | -3,337 | -55,871 | -9,671 | -21,198 | -67,398 | |
| Cash flow for the period | -424 | 9,547 | -68,158 | -22,068 | -10,990 | -57,078 | |
| Cash and cash equivalents at the beginning of the period |
46,814 | 95,839 | 116,727 | 123,217 | 123,217 | 105,275 | |
| Exchange difference in cash and cash | |||||||
| equivalents | -290 | -112 | -2,469 | 4,125 | 4,501 | -2,097 | |
| Cash and cash equivalents at end of period | 46,100 | 105,275 | 46,100 | 105,275 | 116,727 | 46,100 |
Condensed parent company income statement
| Apr-Jun | Jan-Jun | Full year | RTM | |||
|---|---|---|---|---|---|---|
| TSEK Note |
2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 |
| Net sales | 1,326 | 1,910 | 1,326 | 1,910 | 3,423 | 2,839 |
| Total | 1,326 | 1,910 | 1,326 | 1,910 | 3,423 | 2,839 |
| Other external expenses | -1,055 | -662 | -2,029 | -2,503 | -4,277 | -3,803 |
| Personnel costs | -811 | -812 | -1,551 | -1,595 | -3,096 | -3,052 |
| Total | 1,326 | -1,474 | -388 | -4,098 | -7,373 | -3,663 |
| Operating profit/loss | -540 | 436 | -2,254 | -2,188 | -3,949 | -4,016 |
| Financial income | 3,212 | 5,466 | 6,759 | 10,927 | 20,846 | 16,678 |
| Financial expenses | -1,651 | -3,538 | -3,854 | -6,713 | -12,717 | -9,858 |
| Total | 1,326 | 1,928 | 2,670 | 4,214 | 8,130 | 6,585 |
| Income after financial items | 1,021 | 2,364 | 651 | 2,026 | 4,180 | 2,804 |
| Deferred tax | - | - | - | - | - | - |
| Net profit/loss for the period | 1,021 | 2,364 | 651 | 2,026 | 4,180 | 2,804 |
The parent company presents no separate statement of comprehensive income since the company has no items in 2025 or 2024 recognized in other comprehensive income. Net profit/loss for the period for the parent company thereby also constitutes of the comprehensive income for the period.
Condensed parent company balance sheet
| TSEK | Note 2025-06-30 | 2024-06-30 | 2024-12-31 |
|---|---|---|---|
| ASSETS | |||
| Non-current assets | |||
| Financial assets | |||
| Shares in subsidiaries | 635,191 | 575,191 | 625,191 |
| Receivables from group companies | 292,734 | 361,780 | 351,757 |
| Deferred tax assets | 15,255 | 15,255 | 15,255 |
| Total non-current assets | 943,180 | 952,226 | 992,202 |
| Current assets | |||
| Current receivables | |||
| Other current receivables | 1,841 | 364 | 1,767 |
| Prepaid expenses and accrued income | 60,915 | 43,474 | 52,887 |
| Total | 62,756 | 43,837 | 54,654 |
| Cash and bank equivalents | 4,346 | 1,719 | 3,562 |
| Total current assets | 67,102 | 45,556 | 58,216 |
| TOTAL ASSETS | 1,010,282 | 997,781 | 1,050,418 |
| EQUITY & LIABILITIES | |||
| Equity | |||
| Restricted equtiy | |||
| Share capital | 876 | 876 | 876 |
| Total restricted equity | 876 | 876 | 876 |
| Non-restricted equity | |||
| Non-restricted share premium | 727,969 | 727,969 | 727,969 |
| Retained earnings including net profit/loss for the period | -25,166 | -27,319 | -25,167 |
| Total non-restricted equity | 702,803 | 700,650 | 702,803 |
| Total equity | 704,330 | 701,526 | 703,679 |
| Non-current liabilities | |||
| Liabilities to credit institutions | 120,000 | - | - |
| Total non-current liabilities | 120,000 | - | - |
| Current liabilities | |||
| Liabilities to credit institutions | - | 170,941 | 170,941 |
| Liabilities to group companies | 184,000 | 124,000 | 174,000 |
| Accounts payable | 254 | 259 | 178 |
| Other current liabilities | 385 | 134 | 320 |
| Accrued expenses and prepaid income | 1,313 | 921 | 1,300 |
| Total current liabilities | 185,952 | 296,255 | 346,740 |
| Total liabilities | 305,952 | 296,255 | 346,740 |
| TOTAL EQUITY AND LIABILITIES | 1,010,282 | 997,781 | 1,050,418 |
Of Definitions of alternative key performance indicators
Bactiguard presents certain financial measures in its annual report that have not been defined in line with IFRS (referred to as alternative key performance indicators as set forth in the ESMA guidelines). It is the opinion of the company that these measures provide useful supplementary information to investors and the company's management as they allow for the evaluation of the company's performance. Since not all companies calculate the measures in the same way, these are not always comparable to measures used by other companies. These performance measures should therefore not be considered a substitute for measures as defined under IFRS.
The definitions and tables below describe how the performance measures are calculated. The measures are alternative in accordance with ESMA's guidelines unless otherwise stated.
EBITDA
EBITDA presents the company's earning capacity from ongoing operations irrespective of capital structure and tax situation. The key figure is used to facilitate comparisons with other companies in the same industry. The company considers this performance measure to be the most relevant, since the company's technology is depreciated by large amounts, which does not impact cash flow negatively. Bactiguard's patented, unique technology can be applied to a broad range of products in the licensing business.
The company defines EBITDA as operating profit/loss excluding depreciation and amortization of tangible and intangible assets.
| Apr-Jun | Jan-Jun | Full year | RTM | |||
|---|---|---|---|---|---|---|
| TSEK | 2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 |
| Operating profit/loss | -7,294 | -10,846 | -9,906 | -23,713 | -28,860 | -15,055 |
| Depreciation | 11,673 | 12,057 | 23,693 | 23,423 | 46,883 | 47,153 |
| EBITDA | 4,379 | 1,211 | 13,788 | -290 | 18,023 | 32,098 |
EBITDA margin
Presents the company's earning capacity from ongoing operations, irrespective of capital structure and tax situation, in relation to revenues. The key figure is used to facilitate analysis of the company's result in comparison with comparable companies.
| Apr-Jun | Jan-Jun | Full year | RTM | |||
|---|---|---|---|---|---|---|
| TSEK | 2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 |
| EBITDA | 4,379 | 1,211 | 13,788 | -290 | 18,023 | 32,098 |
| Revenues | 52,115 | 60,893 | 114,855 | 119,686 | 261,877 | 257,045 |
| EBITDA margin % | 8.4 | 2.0 | 12.0 | -0.2 | 6.9 | 12.5 |
Net debt
Net debt is a measure used to describe the Group's indebtedness and its ability to repay its debt with cash generated from the Group's operating activities if the debts matured today. The company considers this key figure interesting for creditors who want to understand the Group's debt situation.
The company defines net debt as interest-bearing liabilities minus cash and cash equivalents at the end of the period.
| Jan-Jun | Full year | ||
|---|---|---|---|
| TSEK | 2025 | 2024 | 2024 |
| Non-current liabilities to credit institutions | 120,222 | - | - |
| Current liabilities to credit institutions | - | 175,105 | 170,893 |
| Long-term lease debt | 35,225 | 48,039 | 40,694 |
| Short-term lease debt | 14,017 | 16,151 | 16,180 |
| Interest-bearing debt | 169,464 | 239,295 | 227,767 |
| Cash and cash equivalents | 46,100 | 105,275 | 116,727 |
| Net debt | 123,364 | 134,020 | 111,040 |
Equity ratio
Equity ratio is a measure the company considers important for creditors who want to understand the company's long-term ability to pay. The company defines equity ratio as equity and untaxed reserves (less deferred tax), in relation to the balance sheet total.
| Jan-Jun | Full year | |||
|---|---|---|---|---|
| TSEK | 2025 | 2024 | 2024 | |
| Equity | 309,362 | 328,489 | 328,342 | |
| Balance sheet total | 561,666 | 677,338 | 655,911 | |
| Equity ratio, % | 55.1 | 48.5 | 50.1 |
Cash flow from operating activities per share
Cash flow per share calculated as the cash flow from operating activities divided by the average number of shares outstanding during the period. The key figure is presented because it is used by analysts and other stakeholders to evaluate the company – it shows operating cash flow per share.
Profit/loss from financial items
Financial income minus financial expenses. Direct reconciliation against financial report is possible.
RTM/Rolling 12 months
This performance measure implies the twelve months before and including a certain date.
Note 1 Revenue distribution
| Apr-Jun | Jan-Jun | Full year | RTM | |||
|---|---|---|---|---|---|---|
| TSEK | 2025 | 2024 | 2025 | 2024 | 2024 | 2024/25 |
| License partners | 34,080 | 35,129 | 73,332 | 67,553 | 155,397 | 161,176 |
| Exclusivity partners | - | 2,678 | - | 5,269 | 7,746 | 2,477 |
| Application development partners | - | - | 42 | 131 | 1,548 | 1,459 |
| Wound Management portfolio | 13,840 | 14,700 | 33,041 | 27,433 | 60,942 | 66,550 |
| BIP portfolio | 324 | 4,847 | 873 | 10,893 | 16,045 | 6,025 |
| Total | 48,243 | 57,353 | 107,289 | 111,279 | 241,678 | 237,687 |
| Time for revenue recognition | ||||||
| Performance commitment is met at a certain time |
48,243 | 54,676 | 107,247 | 105,879 | 232,384 | 233,751 |
| Performace commitment is met during a period of time |
- | 2,678 | 42 | 5,400 | 9,294 | 3,936 |
| Total | 48,243 | 57,353 | 107,289 | 111,279 | 241,678 | 237,687 |
Note 2 Financial assets and liabilities at fair value
The table below shows the breakdown of financial assets and financial liabilities recognized at fair value in the consolidated balance sheet. Distribution of how fair value is determined is based on three levels.
Level 1: according to prices quoted on an active market for the same instrument.
Level 2: based on directly or indirectly observable market data not included in level 1.
Level 3: based on input data that is not observable on the market.
For description of how fair values have been calculated, see annual report 2024, note 4. Fair value of financial assets and liabilities is estimated to be substantially consistent with posted values. The balance sheet contains receivables and liabilities from the business that are held to maturity. These are reported at amortized cost, which also constitutes an approximation to fair value.
Quarterly information
| TSEK | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | RTM 24/25 |
|---|---|---|---|---|---|---|---|
| License partners | 34,080 | 39,252 | 41,205 | 46,639 | 35,129 | 32,424 | 161,176 |
| Exclusivity partners | - | - | 2,477 | - | 2,678 | 2,591 | 2,477 |
| Application development partners | - | 42 | 551 | 866 | - | 131 | 1,459 |
| Wound Management portfolio | 13,840 | 19,202 | 15,628 | 17,880 | 14,700 | 12,733 | 66,550 |
| BIP portfolio | 324 | 549 | 3,213 | 1,939 | 4,847 | 6,046 | 6,025 |
| Other operating revenues | 3,871 | 3,695 | 5,182 | 6,611 | 3,540 | 4,867 | 19,359 |
| Total revenue | 52,115 | 62,740 | 68,257 | 73,936 | 60,893 | 58,793 | 257,047 |
| EBITDA | 4,379 | 9,409 | 8,436 | 9,877 | 1,211 | -1,501 | 32,101 |
| EBITDA margin (%) | 8.4 | 15.0 | 12.4 | 13.4 | 2.0 | -2.6 | 12.5 |
| EBIT | -7,294 | -2,612 | -3,204 | -1,943 | -10,846 | -12,867 | -15,055 |
| Net profit/loss for the period | -8,111 | -4,728 | -920 | -4,674 | -14,318 | -9,901 | -18,436 |
| Earnings per share, before and after dilution, SEK |
-0.24 | -0.13 | -0.03 | -0.13 | -0.41 | -0.28 | -0.53 |
| Operating cash flow | 1,729 | -12,111 | 18,860 | 8,342 | 16,843 | -19,056 | 16,822 |
| Operating cash flow per share, SEK | 0.05 | -0.35 | 0.54 | 0.24 | 0.48 | -0.54 | 0.48 |
| Net debt | 123,364 | 124,415 | 111,040 | 128,961 | 134,020 | 145,690 | 123,364 |
| Total shares (pcs) | 35,043,885 35,043,885 35,043,885 35,043,885 35,043,885 35,043,885 35,043,885 |
Signatories of the report
The Board of Directors and the CEO certify that the interim report, to the best of their knowledge, provides a fair overview of the parent company's and the Group's operations, financial position and results and describes the material risks and uncertainties faced by the parent company and the companies included in the Group.
Stockholm 15 July 2025
Thomas von Koch Richard Kuntz Chairperson of the Board Board Member
Anna Martling Magdalena Persson Board Member Board Member
Jan Ståhlberg Christine Lind Board Member CEO
This interim report has not been reviewed by the company auditors.
This information is information that Bactiguard Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out below on 15 July 2025, at 07:00 a.m. CET.
This is a translation of the Swedish Interim report. In the event of any discrepancy, the Swedish version applies.
About Bactiguard
Bactiguard is a global MedTech company developing safe and biocompatible technology to prevent medical device related infections. The company's unique technology is based on an ultra-thin noble metal coating that prevents bacterial adhesion and biofilm formation on medical devices.
Bactiguard's infection prevention solutions decrease patient suffering, save lives, and unburden healthcare resources while also fighting against antimicrobial resistance, one of the most serious threats to global health and modern medicine.
Bactiguard operates through license partnerships with leading global MedTech companies that apply the technology to their medical devices and sell them under their own brand or cobranded with Bactiguard. The company also has a portfolio of wound management products.
Bactiguard is headquartered in Stockholm and listed on Nasdaq Stockholm.
Read more about Bactiguard bactiguard.com
Follow Bactiguard on LinkedIn
Forthcomming disclosures of information
23 October 2025 Interim report third quarter 1 July – 30 September 2025
Contacts
For additional information, please contact: Patrick Bach, CFO: +46 8 440 58 80 Nina Nornholm, Head of Communication & Investor Relations: +46 708 550 356