Q2 2015 - NET SALES ROSE 85% TO MSEK 59.0, COMPARED WITH THE SECOND QUARTER OF 2014
SECOND QUARTER OF 2015
• NET SALES amounted to MSEK 59.0 (31.9).
• OPERATING PROFIT totalled MSEK 15.7 (5.3).
• PROFIT AFTER TAX amounted to MSEK 10.8 (4.3).
• PROFIT AFTER TAX PER SHARE was SEK 1.19 (0.47).
• CASH FLOW was a negative MSEK 5.1 (neg: 0.6). Probi paid dividends of MSEK 7.7 (6.8).
ACCUMULATED 2015
• NET SALES amounted to MSEK 127.9 (58.3).
• OPERATING PROFIT totalled MSEK 43.0 (11.5).
• PROFIT AFTER TAX amounted to MSEK 33.2 (9.3).
• PROFIT AFTER TAX PER SHARE was SEK 3.64 (1.03).
• CASH FLOW amounted to MSEK 13.4 (3.0). Probi paid dividends of MSEK 7.7 (6.8).
SIGNIFICANT EVENTS DURING THE SECOND QUARTER:
• Probi expanded the organisation with six new employees, most of them in Marketing and Sales.
• Probi’s agreements with Sanofi and Dongkook in South Korea were expanded to include launches of new product variants for digestive health.
• Pharmavite, USA, commenced an extensive marketing campaign for products containing Probi’s probiotics.
CEO’S COMMENTS:
“The first six months of 2015 were highly successful for Probi. Net sales more than doubled, and amounted to MSEK 127.9 (58.3). Adjusted for currency effects, net sales amounted to MSEK 109.9, up 89 %. Due to the strong growth the operating margin increased from 20 to 34% (27% adjusted for currency effects) compared with the first six months of 2014. Growth was mainly driven by the launches conducted by US companies, Pharmavite and NBTY, during the year. During the first six months, deliveries were focused on stock accumulation to ensure delivery capacity in conjunction with these launches. As a result, we do not expect to see the same level of growth in the second half of 2015. Our previous assessment of favourable opportunities for strong growth for the full-year 2015 compared with 2014 stands firm. In the second quarter, the organisation was strengthened with new employees in both Marketing and Sales, and Research and Development. We are therefore even better equipped to capitalise on the strong demand for our products,” says Peter Nählstedt, CEO of Probi.
INVITATION TO TELECONFERENCE (SWEDISH):
Time: Thursday 16 July 2015 at 10.00 a.m. Phone number: +46 (0)8 566 426 61 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: peter.nahlstedt@probi.se
Niklas Brandt, CFO, Probi, tel: +46 (0)46-286 89 26 or +46 (0)706-62 98 83, e-mail: niklas.brandt@probi.se
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 16 Jul 2015 at 8:45 a.m.
This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.
ABOUT PROBI
Probi AB is a Swedish publicly traded biotechnology 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. In 2014, Probi had sales of MSEK 135. The Probi share is listed on NASDAQ OMX Stockholm, Small Cap. Probi has about 3,500 shareholders. Read more at www.probi.se.
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