We improve
people’s lives

ANNUAL REPORT 2023
9685

NET SALES, SEKm

1135

EBITA, SEKm

11.7
%

EBITA MARGIN

50
%

P/WC

Organic growth at record level in 2023

The record-breaking organic growth in 2023 validates the successful long-term positioning of AddLife for post-pandemic market conditions. It also shows the health and successful development of companies within the AddLife family, including both long-standing members and recent additions.

The year in brief

In 2023, AddLife steadily adapted to support healthcare systems in the return to a normalised situation after COVID-19, while also helping to manage the healthcare queues that grew significantly during the pandemic. 
Sales in all business areas have made good progress and we saw strong organic growth in both business areas. 

Improving profitability and cash flow was a top priority during the year. The positive market trend and robust cash flow in the latter part of the year align with our aim to reduce net debt through internally generated cash flow and, over time, increase the pace of acquisitions.

Target fulfilment 2023

EARNINGS GROWTH

Created with Highcharts 9.2.2EBITA, SEKmAverage earnings growth 39% per year2019202020212022202302505007501,0001,2501,500

PROFITABILITY

Created with Highcharts 9.2.2P/WC %Goal %201920202021202220230255075100125

DIVIDEND

Created with Highcharts 9.2.2Percent of profitGoal2019202020212022202301020304050

A leading partner in Life Science

AddLife is a leading independent European partner with a diversified portfolio in Life Science. AddLife owns, develops and acquires market-leading companies in specific segments with offerings aimed primarily at the healthcare sector – from research to medical care. The Group has a rooted, entrepreneur-driven culture with strong values, where sustainability is integrated into the business.

30

COUNTRIES

2300

EMPLOYEES

54000

CUSTOMERS

3500

SUPPLIERS

Decentralised business model

AddLife develops and acquires profitable, market-leading companies in selected niches within Life Science. At AddLife, the combined resources, networks and expertise of a large company are complemented with the flexibility, personality and efficiency of an entrepreneur. AddLife acts as a long-term and active owner, with a focus on business development and improved profitability.

Core values and culture

Our committed employees are the key to our success. We aim for an inclusive environment for our talented and dedicated people. We place significant emphasis on working with our core values and corporate culture as well as supporting our employees' development through our business school, AddLife Academy.

Business areas

Labtech

The Labtech business area provides products, solutions and services in fields such as diagnostics, biomedical research and laboratory analysis. The business area consists of two business units: Biomedical and Research and Diagnostics. The most important customer groups are hospital laboratories, academic research and pharmaceutical companies in Europe.

LABTECH

Medtech

In the Medtech business area, the subsidiaries offer products and services in the field of medical technology, as well as assistive equipment and digital solutions for home care. Medtech has two business units, Hospital and Homecare. The Medtech offering mainly focuses on publicly funded healthcare, home care and social care in Europe.

MEDTECH

Acquisitions

Acquisitions are a key aspect of AddLife's growth strategy and we have a well-established and structured process for identifying, acquiring, integrating and developing companies.

During the year, AddLife made a minor acquisition of a company that supplies surgical instruments to healthcare professionals across the UK, which is expected to contribute total annual sales of approximately SEK 28 million.

AddLife and sustainability

AddLife's
sustainability
strategy
Sustainable solutions
for health
Sustainable culture
Sustainable supply chain

AddLife's sustainability strategy

During the year, AddLife updated its sustainability strategy based on stakeholder dialogues and an updated materiality analysis. The sustainability strategy mirrors our key sustainability issues: our positive contribution to the Life Science sector, the well-being and development of our employees, and our work with supply chain management. We recognise business opportunities in working with sustainability and believe that our sustainability efforts can provide added value for our customers. The 2023 sustainability report prepares us for the new legal requirements in the Corporate Sustainability Reporting Directive (CSRD).

Sustainability

AddLife creates value

AddLife aims to create good earnings and a strong shareholder value through independent subsidiaries, active ownership and acquisitions. AddLife's financial targets contribute to a robust cash flow that facilitates self-financed, long-term and profitable growth.

Four reasons to own shares in AddLife

Attractive growth market
Cash flow finances growth
Clear strategy
Market position

Attractive non-cyclical growth market

The market, in which AddLife operates, is relatively insensitive to cyclical fluctuations and is driven by demographic factors, an ageing population and the increasing prevalence of chronic diseases. On average, the medtech market is expected to achieve an annual growth rate of 5 percent and the diagnostics market 2-3 percent.

AddLife Share