Q1 2016: HIGHEST NET SALES TO DATE FOR A SINGLE QUARTER: MSEK 87.0 (68.9)
First quarter of 2016:
- NET SALES amounted to MSEK 87.0 (68.9).
- OPERATING PROFIT totalled MSEK 35.3 (27.3).
- PROFIT AFTER TAX amounted to MSEK 26.9 (22.4).
- PROFIT AFTER TAX PER SHARE was SEK 2.95 (2.45).
- CASH FLOW amounted to MSEK 10.0 (18.5).
Significant events during the first quarter:
- Probi Järn®, Probi’s product to increase iron absorption, was launched in Sweden.
- Launch of Probi’s products in Singapore.
- Probi acquired license for new probiotic strains for food applications from Swedish company Probac.
Significant events after the close of the period:
- New agreement with Ipsen Pharma for the launch of Probi’s digestive health capsules in 18 markets.
CEO COMMENTS ON THE OPERATIONS AND FUTURE DEVELOPMENT:
“The first quarter of 2016 was a new record quarter for Probi with net sales of MSEK 87.0. This represents growth of 26%, compared with the very strong first quarter of 2015. Adjusted for currency effects, which were minor, net sales amounted to MSEK 85.2, representing growth of 24%. The operating margin was slightly higher year-on-year, despite heavy reinforcement of the organisation with some ten new recruitments in 2015. While Probi’s growth continued in the US, other markets – including Sweden and South Korea – also contributed to the first-quarter increase. We have high expectations of our new agreement with Ipsen Pharma, and expect the partnership to generate considerable volumes in a few years’ time, since it covers a number of markets with high potential that are new for us. The agreement is of major strategic importance to Probi and our assessment is that it could be the most comprehensive distribution agreement to date for Probi. Although we anticipate faster growth than the overall market for the full-year 2016, we do not expect to achieve the same percentage growth rate as in 2015,” says Peter Nählstedt, CEO of Probi.
INVITATION TO TELECONFERENCE (SWEDISH):
Time: Wednesday, 27 April 2016 at 10:00 a.m. Tel: +46 (0)8 566 42 665. Participants from Probi: Peter Nählstedt, CEO and Niklas Brandt, CFO. The presentation is available at www.probi.se and www.financialhearings.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Nählstedt, CEO, Probi, tel: +46 (0)46-286 89 23 or +46 (0)723-86 99 83, e-mail: firstname.lastname@example.org
Niklas Brandt, CFO, Probi, tel: +46 (0)46-286 89 26 or +46 (0)706-62 98 83, e-mail: email@example.com
This information is such that Probi AB is required to disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 27 April 2016 at 8:45 a.m.
This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.
Probi AB is a Swedish publicly traded bioengineering company that develops effective and well-documented probiotics. Through its world-leading research, Probi has created a strong product portfolio in the gastrointestinal health and immune system niches. Probi’s products are available to consumers in more than 30 countries worldwide. Probi’s customers are leading food, health-product and pharmaceutical companies in the Functional Food and Consumer Healthcare segments. Probi had sales of MSEK 216 in 2015. The Probi share is listed on NASDAQ OMX Stockholm, Small Cap. Probi has about 3,500 shareholders. For more information, please visit www.probi.se.