BioGaia AB Interim report 1 January – 30 September 2012
1 January – 30 September 2012
- Net sales reached SEK 572.8 million (232.6). This figure includes licence revenue of SEK 356.0 million from Nestlé that is regarded as non-recurring revenue but is to a certain extent attributable to sales in 2012. Excluding license revenue from Nestlé, net sales amounted to SEK 216.8 million (232.6), a decrease of SEK 15.8 million (-7%). (Excluding foreign exchange effects, the decrease was 6%).
- Net sales of finished consumer products amounted to SEK 172.0 million (158.0), an increase of SEK 14.0 million (9%). Excluding foreign exchange effects, net sales rose by 10%.
- Net sales of component products totalled SEK 399.8 million (73.2). Excluding license revenue from Nestlé, net sales of component products reached SEK 43.8 million (73.2), a decrease of SEK 29.4 million (-40%) which is a result of the earlier agreement with Nestlé (see above).
- Operating profit was SEK 414.9 million (79.4), an improvement of SEK 335.5 million. Excluding license revenue from Nestlé, operating profit was SEK 58.9 million (79.4), down by SEK 20.5 million (-26%). (Excluding foreign exchange effects, the decrease was 22%).
- Profit after tax was SEK 314.1 million (57.8). Excluding license revenue, profit after tax was SEK 51.7 million (57.8), a decrease of SEK 6.1 million (-11%).
- Earnings per share totalled SEK 18.07 (3.24). Excluding license revenue, earnings per share amounted to SEK 2.88.
- The period’s total cash flow was SEK 233,3 million (14,2). Cash flow includes payments from Nestlé amounting to SEK 356.0 million, investments in TwoPac of SEK 21.7 million (10.8), tax payments of SEK 73.5 million (30.1) and dividends of SEK 103.6 million (34.5). Cash and cash equivalents at 30 September 2012 totalled SEK 404.1 million (161.4).
Third quarter 2012
- Net sales reached SEK 62.8 million (73.1), a decrease of SEK 10.3 million (-14%). Excluding foreign exchange effects, net sales fell by 9%.
- Net sales of finished consumer products amounted to SEK 50.2 million (46.5), an improvement of SEK 3.7 million (8%). Excluding foreign exchange effects, net sales rose by 14%.
- Net sales of component products totalled SEK 12.5 million (25.9), down by SEK 13.4 million (-52%) which is a result from the earlier agreement with Nestlé (see above). (Excluding foreign exchange effects, net sales fell by 48%).
- Operating profit was SEK 13.5 million (22.1), a decrease of SEK 8.6 million (39%). Excluding foreign exchange effects, operating profit declined by 26%.
- Profit after tax was SEK 14.2 million (15.6), down by SEK 1.4 million (9%).
Key events in the third quarter of 2012
- Publication of study showing that Lactobacillus reuteri Protectis prevented necrotizing enterocolitis (NEC) in premature infants.
- Publication of a furher study showing that Lactobacillus reuteri Protectis reduced colic in infants.
Key events after the end of the third quarter of 2012
- Agreement for the sale of tablets and drops in Pakistan.
- Publication of study showing that Lactobacillus reuteri Protectis is safe and effective in premature infants.
“As in earlier years, the third quarter was characterised by lower activity among our distributors and suppliers due to the customary summer holiday. Despite the ongoing change of distributors in several countries, which effect the sales negatively short term, sales of finished consumer products increase” says Peter Rothschild, president BioGaia AB.
“All in all, we are now better equipped than ever before to continue our expansion through more effective marketing and sales and via the launch of new products in existing markets and our existing products in new markets”, concludes Peter Rothschild.
You are welcome to take part in a teleconference on the interim report that will be held today at 9:30 a.m. by President Peter Rothschild. To participate in the conference, please see http://www.biogaia.com/investor-relations for further instructions.
BioGaia has published this information in accordance with the Swedish Securities Market Act. The information was issued for publication on 23 October 2012, 8:00 a.m. CET.
BioGaia AB Box 3242, SE-103 64 STOCKHOLM
Street address: Kungsbroplan 3A, Stockholm
Telephone: 46 8-555 293 00, Corp. Identity no. 556380-8723 www.biogaia.com
For additional information contact:
Peter Rothschild, President, BioGaia AB, telephone 46 8-555 293 00
or Margareta Hagman, Executive Vice President, BioGaia AB, telephone 46 8-555 293 00
BioGaia is a healthcare company that develops, markets and sells probiotic products with documented health benefits. The products are primarily based on the lactic acid bacterium Lactobacillus reuteri, which has probiotic, health-enhancing effects. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com
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