Press the button and be introduced to a new random company!

Introduce me >

UPCOMING EVENTS

We arrange several open investor events with our covered companies each year. Please subscribe to get information about our upcoming Introduce events. 

Sign up >

Social media

facebook   Meet us at Facebook

facebook   Follow us on Twitter

   Follow us on LinkedIn

Biovica

SEKm 2018 2019e 2020e
Sales 3 14 36
Sales growth (%) -8,2 470 150
EBITDA -16 -14 1
EBITDA margin (%) -644 -94,9 3
EBIT adj -19 -18 -5
EBIT adj margin (%) -776 -126,5 -14,9
Pretax profit -19 -18 -6
EPS rep -1,1 -1,03 -0,32
EPS growth (%) -7,7 7,1 68,8
EPS adj -1,1 -1,03 -0,32
DPS 0 0 0
EV/EBITDA (x) -8,3 -13,6 172,3
EV/EBIT adj (x) -6,9 -10,2 -34,8
P/E (x) -9 -9,7 -31,1
P/E adj (x) -9 -9,7 -31,1
EV/sales (x) 53,2 12,9 5,2
FCF yield (%) -13,6 -14 -5,4
Dividend yield (%) 0 0 0
Net IB debt/EBITDA 2,6 -0,6 9,6
SEKm 2018 2019e 2020e
Sales 3 14 36
COGS 0 0 0
Gross profit 3 14 36
Other operating items -19 -28 -35
EBITDA -16 -14 1
Depreciation on tangibles 0 0 0
Depreciation on intangibles -3 -5 -6
EBITA -19 -18 -5
Goodwill impairment charges 0 0 0
Other impairment and amortisation 0 0 0
EBIT -19 -18 -5
Other financial items 0 0 0
Net financial items 0 0 0
Associated income 0 0 0
Other EO items 0 0 0
Pretax profit -19 -18 -6
Tax 0 0 0
Net profit -19 -18 -6
Minority interest 0 0 0
Net profit discontinued 0 0 0
Net profit to shareholders -19 -18 -6
EPS -1,1 -1,03 -0,32
EPS Adj -1,1 -1,03 -0,32
Total extraordinary items after tax 0 0 0
Tax rate (%) 0 0 0
Gross margin (%) 100 100 100
EBITDA margin (%) -644 -94,9 3
EBITA margin (%) -776 -126,5 -14,9
EBIT margin (%) -776 -126,5 -14,9
Pretax margin (%) -776 -126,5 -15,8
Net margin (%) -776 -126,5 -15,8
Growth rates Y/Y 2018 2019 2020
Sales growth (%) -8,2 470 150
EBITDA growth (%) -5,8 16 108
EBIT growth (%) -8 7,1 70,5
Net profit growth (%) -7,7 7,1 68,8
EPS growth (%) -7,7 7,1 68,8
Profitability 2018 2019 2020
ROE (%) -23,5 -34,6 -19,6
ROE Adj (%) -23,5 -34,6 -19,6
ROCE (%) -67,3 -51,3 -14
ROCE Adj(%) -67,3 -51,3 -14
ROIC (%) -62,2 -45,4 -11,6
ROIC Adj (%) -62,2 -45,4 -11,6
Adj earnings numbers 2018 2019 2020
EBITDA Adj -16 -14 1
EBITDA Adj margin (%) -644 -94,9 3
EBITA Adj -19 -18 -5
EBITA Adj margin (%) -776 -126,5 -14,9
EBIT Adj -19 -18 -5
EBIT Adj margin (%) -776 -126,5 -14,9
Pretax profit Adj -19 -18 -6
Net profit Adj -19 -18 -6
Net profit to shareholders Adj -19 -18 -6
Net Adj margin (%) -776 -126,5 -15,8
SEKm 2018 2019e 2020e
EBITDA -16 -14 1
Net financial items 0 0 0
Paid tax 0 0 0
Non-cash items 0 0 0
Cash flow before change in WC -16 -14 1
Change in WC 0 -3 -1
Operating cash flow -16 -16 0
CAPEX tangible fixed assets 0 0 0
CAPEX intangible fixed assets -8 -9 -10
Acquisitions and disposals 0 0 0
Free cash flow -24 -25 -9
Dividend paid 0 0 0
Share issues and buybacks 0 0 0
Other non cash items 0 -26 7
Decrease in net IB debt -23 -50 -2
Balance Sheet (SEKm) 2018 2019 2020
Goodwill 0 42 44
Indefinite intangible assets 26 0 0
Definite intangible assets 7 0 0
Tangible fixed assets 3 2 2
Other fixed assets 0 0 0
Fixed assets 36 45 46
Inventories 0 0 0
Receivables 2 0 1
Other current assets 0 0 0
Cash and liquid assets 42 2 10
Total assets 81 47 57
Shareholders equity 74 30 27
Minority 0 0 0
Total equity 74 30 27
Long-term debt 0 10 20
Pension debt 0 0 0
Convertible debt 0 0 0
Deferred tax 0 0 0
Other long-term liabilities 0 0 0
Short-term debt 0 0 0
Accounts payable 1 0 0
Other current liabilities 6 6 10
Total liabilities and equity 29 97 81
Net IB debt -42 8 10
Net IB debt excl. pension debt -42 8 10
Capital invested 34 45 47
Working capital -2 0 1
EV breakdown 2018 2019 2020
Market cap. diluted (m) 175 175 175
Net IB debt Adj -42 8 10
Market value of minority 0 0 0
Reversal of shares and participations 0 0 0
Reversal of conv. debt assumed equity 0 0 0
EV 133 183 185
Capital efficiency (%) 2018 2019 2020
Total assets turnover (%) 2,8 22,3 68,9
Capital invested turnover (%) 8 35,9 77,4
Capital employed turnover (%) 8,7 40,5 93,7
Inventories / sales (%) 14,2 1,4 0
Customer advances / sales (%) 101,1 10,7 0
Payables / sales (%) 46,7 3,5 0
Working capital / sales (%) -88,6 -5,9 2,2
Financial risk and debt service 2018 2019 2020
Net debt / equity (%) -57,2 27,2 38,2
Net debt / market cap (%) -24,3 4,7 5,9
Equity ratio (%) 91,3 65 47,7
Net IB debt adj. / equity (%) -57,2 27,2 38,2
Current ratio (%) 665,2 31,3 111,4
EBITDA / net interest (%) 0 0 358,5
Net IB debt / EBITDA (%) 261,7 -61,2 959,8
Interest cover (%) N/A N/A -1774,5
SEKm 2018 2019e 2020e
Shares outstanding adj. 18 18 18
Fully diluted shares Adj 18 18 18
EPS -1,1 -1,03 -0,32
Dividend per share Adj 0 0 0
EPS Adj -1,1 -1,03 -0,32
BVPS 4,19 1,73 1,54
BVPS Adj 3,77 -0,68 -0,94
Net IB debt / share -2,4 0,5 0,6
Share price 9,88 9,96 9,96
Market cap. (m) 174 175 175
Valuation 2018 2019 2020
P/E -9 -9,7 -31,1
EV/sales 53,16 12,86 5,2
EV/EBITDA -8,3 -13,6 172,3
EV/EBITA -6,9 -10,2 -34,8
EV/EBIT -6,9 -10,2 -34,8
Dividend yield (%) 0 0 0
FCF yield (%) -13,6 -14 -5,4
P/BVPS 2,37 5,75 6,48
P/BVPS Adj 2,64 -14,6 -10,6
P/E Adj -9 -9,7 -31,1
EV/EBITDA Adj -8,3 -13,6 172,3
EV/EBITA Adj -6,9 -10,2 -34,8
EV/EBIT Adj -6,9 -10,2 -34,8
EV/cap. employed 4,2 4,7 5
Investment ratios 2018 2019 2020
Capex / sales 300 59,6 26,7
Capex / depreciation 227,3 188,9 148,5
Capex tangibles / tangible fixed assets 0 0 0
Capex intangibles / definite intangibles 101,6 N/A N/A
Depreciation on intangibles / definite intangibles 44,7 N/A N/A
Depreciation on tangibles / tangibles 0 0 0