Q4 2018: Growth in fourth quarter closes the year
Significant events in the fourth quarter
• Fourth-quarter net sales rose to MSEK 163, up 36%, or MSEK 43 compared with the year-on-year period, due to continued recovery from a customer-specific destocking programme
• First commercial order after the introduction of Probi’s product to improve bone health in postmenopausal women – Probi® Osteo
• Promising initial results from clinical trials to evaluate the effects of Probi’s strains on physical performance and acute stress
• Tom Rönnlund appointed new CEO as of January 1, 2019 and Henrik Lundkvist new CFO as of January 7, 2019
• Board of Directors propose that the 2019 Annual General Meeting resolves that no dividends will be paid for the 2018 financial year
Financial overview
| MSEK | Full-year 2018 | Full-year 2017 | ||
| Net sales | 604.1 | 612.2 | ||
| Net sales growth, constant currency, % | -2.2% | 38.2% | ||
| Gross margin, % | 46.0% | 45.4% | ||
| EBITDA | 154.9 | 157.3 | ||
| EBITDA margin, % | 25.6% | 25.7% | ||
| Operating profit (EBIT) | 101.1 | 104.1 | ||
| Net income | 76.3 | 69.1 | ||
| Earnings per share before and after dilution, SEK | 6.69 | 6.06 | ||
| Share price on closing day, SEK | 360.00 | 340.00 | ||
| Market cap on closing day | 4,101.9 | 3,874.0 | ||
| See note 5 for definitions of ratios not defined according to IFRS |
Invitation to teleconference
Date: 13 February 2019
Time: 10:00 a.m.
Phone: +46 8 56 64 27 07
Participants from Probi:
Tom Rönnlund, CEO:
Henrik Lundkvist, CFO
The presentation is available at www.probi.se and www.financialhearings.com
Contact
Tom Rönnlund, CEO: Phone: +46 (0)46 286 89 40, E-mail: trd@probi.com
Henrik Lundkvist, CFO: Phone: +46 (0)46 286 89 41, E-mail: henrik.lundkvist@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, on 13 February 2019 at 8:00 a.m. CET. This 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 bioengineering company. Probi’s vision 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, active in more than 40 markets around the world and holding over 400 patents worldwide. In 2018, Probi had net sales of MSEK 604. The Probi share is listed on Nasdaq Stockholm, Mid Cap. Probi had about 4,000 shareholders on December 31, 2018.
probi.com
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