BONESUPPORT HOLDING AB (publ) – Publishes year end report 2023
February 15, 2024 at 08:01 am EST
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BONESUPPORT HOLDING AB (publ), a leading company in orthobiologics for the management of bone injuries, today publishes the interim report for the fourth quarter 2023 and the full year 2023.
STRONG UNDERLYING BUSINESS MOMENTUM
OCTOBER – DECEMBER 2023
Net sales increased by 67 percent (60 percent at constant exchange rates) and amounted to SEK 172.7 million (103.2).
The North America (NA) segment reported a sales growth of 79 percent (71 percent at constant exchange rate).
The Europe & Rest of the World (EUROW) segment reported a sales growth of 38 percent (32 percent at constant exchange rates).
The gross margin amounted to 91.8 percent (91.5).
The operating result before effects from the Group’s incentive programs amounted to SEK +11.2 million (-10.1). Reported operating result amounted to SEK -7.7 million (-19.3).
Earnings per share before and after dilution were SEK +0.16 (-0.32).
Adjusted for deferred tax income on tax losses carried forward and other temporary differences, the earnings per share before and after dilution were SEK -0.16.
JANUARY – DECEMBER 2023
Net sales increased by 80 percent (72 percent at constant exchange rates) and amounted to SEK 591.1 million (328.8).
The North America (NA) segment reported a sales growth of 104 percent (95 percent at constant exchange rate).
The Europe & Rest of the World (EUROW) segment reported a sales growth of 33 percent (28 percent at constant exchange rates).
The gross margin amounted to 91.5 percent (90.5)
The operating result before effects from the Group’s incentive programs amounted to SEK +54.1 million (-36.2). Reported operating result amounted to SEK +13.9 million (-64.5).
Earnings per share before dilution were SEK +3.77 (-1.06).
Earnings per share after dilution were SEK +3.74 (-1.06).
Adjusted for deferred tax income on tax losses carried forward and other temporary differences, which have been reported for the first time this year, the earnings per share before and after dilution were SEK +0.10.
"Continued success for CERAMENT G in the US."Emil Billbäck, CEO
EVENTS DURING THE REPORTING PERIOD
In October, CERAMENT V was awarded Breakthrough device designation for the indication bone infection by the US Food and Drug Administration (FDA).
In November, The US Centers for Medicare & Medicaid Services (CMS) granted the Transitional Pass-Through Payment (TPT) for CERAMENT G.
In connection with a Capital Markets Day in November, the Company announced an updated outlook for 2024 with sales growth of over 40 percent (in constant currency). Furthermore, the Company's plans were presented, including future extension into spinal fusion and a planned market application for CERAMENT V in the US in the first quarter of 2025.
In December, the Company received MDR certificates for CERAMENT BVF and CERAMENT V.
EVENTS AFTER THE REPORTING PERIOD
Decision to submit application, in Q1 2024, to FDA for CERAMENT BVF on Spine Interbody Fusion based on existing available bone remodeling data (previously communicated timing was Q4 2024).
Bonesupport Holding AB is a Sweden-based orthobiologics company. It develops and commercialize injectable bioceramic bone graft substitutes which remodel to host bone and have the capability to elute drugs directly into the bone void. The marketed synthetic bone graft substitutes are CERAMENT BVF, CERAMENT G and CERAMENT V, which are based on the CERAMENT technology platform. The products are commercially available in Europe and the United States, as well as in India, Malaysia, Oman and Singapore. The products are developed to treat patients with fractures and bone voids caused by trauma and related surgery, as well as caused by infection or diseases, such as chronic osteomyelitis, revision arthroplasty and infected diabetic foot.
BONESUPPORT HOLDING AB 
