BioGaia AB : Interim report 1 January - 31 March 2012

BioGaia AB Interim report 1 January - 31 March 2012
(Figures in brackets refer to the same period of last year)
 
 
1 January - 31 March 2012
 
- Net sales reached SEK 434.3 million (69.9). This figure includes licence revenue of SEK 356 million from Nestlé that is regarded as non-recurring revenue. Excluding non-recurring revenue from Nestlé, net sales amounted to SEK 78.3 million (69.9), an increase of SEK 8.4 million (12%). 
 
- Operating profit was SEK 382.1 (23.4) million. Excluding non-recurring revenue, operating profit was SEK 26.1 million (23.4), an improvement of SEK 2.7 million (12%). 
 
- Profit before tax was SEK 384.9 (25.6) million. Excluding non-recurring revenue, profit before tax was SEK 28.9 million (25.6), an increase of SEK 3.3 million (13%). 
 
- Profit after tax was SEK 283.2 million (18.5). Excluding non-recurring revenue, profit after tax was SEK 20.8 million (18.5), an improvement of SEK 2.3 million (12%). 
 
- Earnings per share amounted to SEK 16.37 (1.04). Excluding non-recurring revenue, earnings per share were SEK 1.18.
 
-The period's total cash flow was SEK 358.7 million (1.9). Excluding non-recurring revenue, cash flow was SEK 2.7 million. The period's cash flow includes investments in TwoPac of approximately SEK 9 million. Cash and cash equivalents at 31 March 2012 totalled SEK 529.9 million (148.5). 
 
 
Key events in the first quarter of 2012
 
- BioGaia signs an agreement to extend its collaboration with Nestlé, including the sale of a license for EUR 50.8 million, of which EUR 40 million (SEK 356 million) was paid and recognised during the quarter.
 
- Results of a clinical study show that Lactobacillus reuteri Protectis reduces diarrhoea in children.
 
- The Board of BioGaia proposes that the AGM approve an additional extraordinary dividend of SEK 2 per share, amounting to a total dividend of SEK 6 per share.
 
 
Key events after the end of the first quarter of 2012
 
- BioGaia signs exclusive distribution agreement for the sale of its probiotic drops and tablets in Taiwan.
 
 
"The highlight of the quarter was naturally the new agreement we signed with Nestlé in February, which is of great strategic importance to BioGaia leading to an enhanced and extended collaboration. The agreement also creates an opportunity for us to let Nestlé market our products under the BioGaia brand in some of the larger markets." says Peter Rothschild, President of BioGaia.
 
 
A telephone conference on the interim report will be held today at 10:00 a.m. by President Peter Rothschild and CFO Margareta Hagman. To participate in the conference, please see BioGaia's website for telephone numbers http://www.biogaia.com/investors/agenda.

About Us

BioGaia is a healthcare company that develops, markets and sells probiotic products with documented health benefits. The products are primarily based on the lactic acid bacterium Lactobacillus reuteri, which has probiotic, health-enhancing effects. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com If you need more information about BioGaia and our products please visit our website or download our press kit from: http://www.biogaia.com/press-material