Q2 2017: Probi completes integration and ends first half of 2017 with increase in sales and earnings
Highlights and significant events during the second quarter
• Robust growth in sales and earnings despite inventory management at one of the largest customers
• Successful completion of integration process, strengthening of marketing and sales organization and finalization of purchase price allocation at Probi USA
• Several new distribution agreements in EMEA
• Launch of research program targeted at next generation probiotics and prebiotics
Financial overview
| MSEK | H1 2017 | H1 2016 | Full-year 2016 | ||||
| Net sales | 359.4 | 160.3 | 443.5 | ||||
| Net sales growth, local currency, % | 118.3% | 25.3% | 103.2% | ||||
| Gross margin, % | 48.0% | 68.8% | 60.0% | ||||
| EBITDA | 107.1 | 59.3 | 152.6 | ||||
| EBITDA margin, % | 29.8% | 37.0% | 34.4% | ||||
| Operating profit (EBIT) | 79.8 | 56.0 | 120.0 | ||||
| Net income | 59.3 | 44.0 | 101.8 | ||||
| Earnings per share before and after dilution, SEK | 5.21 | 4.83 | 10.73 | ||||
| Share price on closing day, SEK | 580.00 | 233.98 | 475.50 | ||||
| Market cap on closing day | 6,608.6 | 2,132.8 | 5,417.9 | ||||
| See note 5 for definitions of ratios not defined according to IFRS and note 4 for adjustments made to full-year 2016 | |||||||
Invitation to Teleconference
Date: 19 July 2017
Time: 10:00 a.m.
Phone: +46 8 56 64 26 91
Participants from Probi:
Peter Nählstedt, CEO and Dr. Jörn Andreas, CFO
The presentation is available at www.probi.se and www.financialhearings.com
Contacts
Peter Nählstedt, CEO:
Phone: +46 46 286 89 23, E-mail: peter.nahlstedt@probi.com
Dr. Jörn Andreas, CFO:
Phone: +46 46 286 89 41, E-mail: jorn.andreas@probi.com
About Probi
Probi AB is a Swedish publicly traded bioengineering company. The vision of Probi is to help people live healthier lives by delivering effective and well-documented probiotics, with proven health benefits based on scientific research.
Founded by scientists in Sweden in 1991, Probi is a multinational company with four centres of excellence, active in more than 40 markets around the world and holding over 400 patents worldwide. In 2016, Probi had net sales of MSEK 444. The Probi share is listed on Nasdaq Stockholm, Mid Cap. Probi has about 5,000 shareholders.
probi.com
This information is information that Probi AB is obliged to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the contact person set out above, at 8:00 a.m. CET on 19 July 2017. When in doubt, the Swedish wording prevails.
Tags: