BioGaia’s preliminary results for the third quarter did not reach market expectations
(Figures in the brackets refer to the same period the previous year)
During the third quarter of 2024, BioGaia will record a non-cash impairment of SEK 51.2 million, relating to the acquisition of MetaboGen AB. The impairment loss is mainly caused by a clinical study that did not meet its primary endpoints which resulted in updated assumptions of the impairment model. The study aimed to prove the efficacy of a next-generation probiotic product for individuals with metabolic syndrome.
For the third quarter, sales are preliminarily estimated at SEK 304 million (318), a decrease of 4%. Sales in the third quarter have been negatively impacted by lower demand mainly in EMEA. The operating profit for the third quarter is preliminarily estimated at SEK 41 million (120), a decrease of 65%. Operating profit excluding the impairment loss for the third quarter decreased by 23% to SEK 92.6 million
BioGaia publishes the interim report for quarter three on Tuesday, October 22, 2024, at 08:00 am CEST, followed by an audiocast at 09:30 am CEST.
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Contacts:
Alexander Kotsinas, CFO
Email: alexander.kotsinas@biogaia.com
Phone: +46 735 00 11 11
Mikaela Idermark Stern, Corporate Communications
Email: mikaela.idermark.stern@biogaia.com
Phone: +46 730 95 61 50
About BioGaia
BioGaia is a Swedish probiotic company that has been at the forefront of microbiome research for more than 30 years. BioGaia develops, markets, and sells probiotic products focused on gut health, immune health, and oral health. The products are sold through local distribution partners or via own distribution in over 100 markets. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap segment of Nasdaq Stockholm. biogaiagroup.com
This disclosure contains information that BioGaia is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, at 10:00 p.m. CEST on October 17, 2024.