BioGaia AB Year-end report 2010
BioGaia Year-end report 2010
2010
- Net sales reached SEK 236.0 million (203.5), an increase of SEK 32.5 million (16%). Excluding foreign exchange effects, the increase in net sales was 27%1).
- Operating profit was SEK 56.3 million (47.7), an improvement of SEK 8.6 million (18%). Excluding foreign exchange effects, operating profit rose by 51%1).
- Profit before tax was SEK 69.7 million (53.1), an increase of SEK 16.6 million (31%).
- The year's profit after tax was SEK 47.2 million (36.0), an improvement of SEK 11.2 million (31%).
- Earnings per share amounted to SEK 2.74 (2.11).
- The year's cash flow from operating activities before changes in working capital was SEK 66.0 million (52.6). Total cash flow for the year was SEK 47.5 million (42.5). Dividends of SEK 25.8 million (6.9) were paid during the year at the same time that the company raised SEK 4.9 million from the new shares issued in connection with the redemption of warrants. Cash and cash equivalents at 31 December 2010 amounted to SEK 146.9 million (100.3). At the beginning of 2011 corporate tax of SEK 18.4 million attributable to 2010 was paid.
- The Board proposes that the upcoming AGM approve an ordinary dividend of SEK 0.92 and an extraordinary dividend of SEK 1.08, for a total dividend of SEK 2.00 per share.
Fourth quarter, 1 October - 31 December 2010
- Net sales amounted to SEK 62.8 million (52.3), an increase of SEK 10.5 million (20%). Excluding foreign exchange effects, the increase in net sales was 34%.1)
- Operating profit was SEK 16.2 million (11.4), an improvement of SEK 4.8 million (42%). Excluding foreign exchange effects, operating profit rose by 88%. 1)
- Profit before tax was SEK 18.6 million (10.5), an increase of SEK 8.1 million (77%).
- Profit after tax for the period was SEK 12.9 million (6.8), an improvement of SEK 6.1 million (90%).
Key events in the fourth quarter of 2010
- Publication of study showing that Lactobacillus reuteri Protectis is effective in treatment of periodontitis.
- New study published: Lactobacillus reuteri Protectis reduced regurgitation and improved stomach emptying in infants.
Key events after the end of the financial year
- BioGaia signs agreement for its new Oral Rehydration Solution product for Greece
- BioGaia's 50%-owned company TwoPac invests in a new facility in Eslöv.
"On the whole, we thus had a very strong development during 2010 and are building value by investing further in clinical research, product development and the BioGaia brand," says Peter Rothschild, President of BioGaia.
1) Most of the company's sales are denominated in foreign currency, primarily EUR. With unchanged exchange rates, net sales would have been SEK 23.0 million higher and operating profit would have been SEK 15.7 million higher for the year.
BioGaia publishes this information in accordance with the Swedish Securities Markets Act. The information was published on February 11, 2011, at 08:00 AM CET.