Bioretec Ltd Company announcement 13 February 2025 at 9:30 a.m.
TAMPERE, Finland, Feb. 13, 2026 /PRNewswire/ — This company announcement is a summary of Bioretec Ltd’s financial statements bulletin for January–December 2025. The complete financial statements bulletin with tables is attached to this release as a pdf file and available at the company’s web pages at https://investors.bioretec.com/en/reports_and_presentations The financial statements bulletin is unaudited.
July–December 2025 in brief
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Net sales amounted to EUR 1,448 thousand (6–12/2024: EUR 2,482 thousand)
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Sales margin was EUR 1,006 (1,770) thousand, or 69.5% (71.3%) of net sales
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EBITDA was EUR -3,919 (-2,189) thousand
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The result for the reporting period amounted to EUR -3,855 (-2,730) thousand
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On December 16, Bioretec updated its strategy for 2026–2028 and provided new financial targets for the strategy period
January–December 2025 in brief
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Net sales amounted to EUR 3,522 thousand (1–12/2024: EUR 4,544 thousand)
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Sales margin was EUR 2,314 (3,221) thousand, or 65.7% (70.9%) of net sales
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EBITDA was EUR -8,476 (-4,053) thousand
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The result for the reporting period amounted to EUR -9,483 (-4,614) thousand
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The Board of Directors proposes that no dividend be distributed for the financial period January 1 – December 31, 2025
Key figures
|
EUR 1,000 unless otherwise indicated |
7–12/2025 |
7–12/2024 |
Change, % |
1–12/2025 |
1–12/2024 |
Change, % |
|
Net sales |
1,448 |
2,482 |
-41.7 % |
3,522 |
4,544 |
-22.5 % |
|
Sales margin |
1,006 |
1,770 |
-43.1 % |
2,314 |
3,221 |
-28.1 % |
|
Sales margin, % |
69.5 % |
71.3 % |
65.7 % |
70.9 % |
||
|
EBITDA |
-3,919 |
-2,189 |
-8,476 |
-4,053 |
||
|
EBIT |
-4,026 |
-2,281 |
-8,686 |
-4,202 |
||
|
Profit / loss for the period |
-3,855 |
-2,730 |
-9,483 |
-4,614 |
||
|
R&D expenditure, % of net sales |
109.8 % |
53.5 % |
85.8 % |
48.0 % |
||
|
Equity ratio, % |
84.3 % |
84.9 % |
84.3 % |
84.9 % |
||
|
Cash and cash equivalents |
4,126 |
6,289 |
-34.4 % |
4,126 |
6,289 |
-34.4 % |
|
Earnings per share (undiluted) |
-0.13 |
-0.12 |
-0.31 |
-0.20 |
||
|
Earnings per share (diluted) |
-0.11 |
-0.10 |
-0.28 |
-0.17 |
||
|
Number of shares at the end of the |
30,788,092 |
23,336,858 |
30,788,092 |
23,336,858 |
||
|
Number of shares (diluted) |
33,821,751 |
27,515,133 |
33,821,751 |
27,515,133 |
||
|
Number of personnel at the end of the |
60 |
47 |
27.7 % |
60 |
47 |
27.7 % |
Significant events in 2025
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On January 31, Bioretec announced that it has received CE mark approval of its RemeOsTM Trauma Screw portfolio, allowing for market launch in Europe.
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On March 7, Bioretec announced the appointment of Mirva Ekman as Quality Director and member of the Management Team as of April 22, 2025. As part of the transition, Mari Ruotsalainen, previously RA/QA Director, will continue as a member of the Management Team as Regulatory Affairs Director.
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On March 21, Bioretec announced that its Board of Directors has decided on a new option program for the CEO.
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On May 8, Bioretec announced that CEO Alan Donze will resign from his position and will remain available for the company until July 7, 2025.
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On May 15, Bioretec announced that it has appointed Sarah van Hellenberg Hubar-Fisher as the company’s interim CEO.
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On May 28, Bioretec’s Board of Directors resolved on a rights issue of approximately EUR 9.2 million.
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On June 24, Bioretec announced the final results of the successful rights issue. Bioretec received gross proceeds of approximately EUR 9.2 million from the offering.
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On July 11, Bioretec announced the appointment of René Eve as Director of Operations and member of the Management Team as of August 18, 2025. Esa Hallinen, former Director of Operations, will pursue a career outside Bioretec.
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On August 27, Bioretec announced that it has appointed Sarah van Hellenberg Hubar-Fisher as CEO.
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On September 2, Bioretec announced the appointment of Jordy Winters as Vice President of OUS Sales and member of the Management Team. In parallel, Rami Ojala, previously Vice President of OUS Sales, will transition into the newly created role of Head of Global Medical Education.
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On September 4, Bioretec announced the appointment of Dr. Christopher W. DiGiovanni to the Scientific Advisory Board.
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On September 12, Bioretec updated the commercialization status of RemeOsTM DrillPin. The planned commercialization of the DrillPin in the U.S. will progress on a revised timeline to reflect recent FDA guidance on data requirements specific to novel materials.
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On September 15, Bioretec announced the appointment of Anne-Mari Matikainen as interim CFO. Former CFO Johanna Salko will support the company during the transition phase until November 30, 2025.
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On September 16, Bioretec announced the composition of the Shareholders’ Nomination Board, consisting of Tor-Oskar Karlberg from Stephen Industries Inc Oy, Rami Vehmas from Keskinäinen Eläkevakuutusyhtiö Ilmarinen, and Heinz Moitzi from W&M GmbH.
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On October 1, Bioretec announced on that the RemeOsTM Trauma Screw has been granted Transitional Pass-Through Payment (TPT) status by the U.S. Centers for Medicare & Medicaid Services (CMS).
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On October 27, Bioretec announced that the company is in the process of assessing and updating its overall commercialization strategy and pipeline and will be providing an update by the end of 2025. In the course of its assessment, the Board of Directors of Bioretec concluded that the financial targets published on October 4, 2024 were unattainable and will likely not be met. Accordingly, Bioretec withdrew its previously disclosed financial targets.
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On October 27, Bioretec announced that it adjusts and restates previously reported H1/2025 figures and does not expect accelerated sales in 2025. Bioretec published the corrected H1/2025 half year report on October 31, 2025.
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On November 12, Bioretec announced that it initiates change negotiations to enhance operational efficiency and competitiveness. The negotiations will focus on Bioretec’s production and marketing functions in Finland. The change negotiations were completed on December 4.
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On December 14, Bioretec announced that it has been granted FDA Breakthrough Device Designation status for its RemeOsTM DrillPin, becoming the third Breakthrough Device Designation granted to Bioretec by the FDA (Trauma Screw 2021, Spinal Cage 2024).
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On December 16, Bioretec updated its strategy for 2026–2028 and provided new financial targets for the strategy period. The new financial targets are to reach net sales exceeding EUR 10 million by the end of the year 2028 and to maintain an average sales margin exceeding 70% during the strategy period.
