Interim report 1 January - 30 June 2009
BioGaia AB
Interim report 1 January - 30 June 2009
(Figures in brackets refer to the same period of last year)
Interim report 1 January - 30 June 2009
- Net sales amounted to SEK 112.4 million (72.4), an increase of SEK 40.0 million (55%).
- Operating profit was SEK 29.9 million (12.6), an increase of SEK 17.3 million.
- Profit before tax was SEK 31.3 million (13.6), an increase of SEK 17.7 million.
- Due to earlier cumulative loss carry forward BioGaia pays no tax. Profit after reported tax was SEK 21.6 million (22.1), a decrease of SEK 0.5 million. The period's reported tax expense of SEK 9.7 million refers to a change in the deferred tax asset. Profit for the corresponding period of last year included a tax benefit of SEK 8.5 million.
- Earnings per share were SEK 1.26 (1.29).
- The period's cash flow from operating activities before change in working capital was SEK 32.1 million (16.2). Total cash flow for the period was SEK 10.9 million (5.0). Cash and cash equivalents at 30 June 2009 amounted to SEK 69.0 million.
Second quarter, 1 April - 30 June 2009
- Net sales for the second quarter amounted to SEK 60.2 million (36.4), an increase of SEK 23.8 million (65%) over the same period of last year. Compared to the first quarter, net sales rose by SEK 8.0 million.
- Operating profit was SEK 16.6 million (5.0), an increase of SEK 11.6 million.
- Profit before tax was SEK 16.2 million (5.6), an increase of SEK 10.6 million.
- Due to earlier cumulative loss carry forward BioGaia pays no tax. Profit after reported tax was SEK 11.2 million (14.1), a decrease of SEK 2.9 million. The period's reported tax expense of SEK 5.0 million refers to a change in the deferred tax asset. Profit for the corresponding period of last year included a tax benefit of SEK 8.5 million.
Key events in the second quarter of 2009
- Distribution agreement with InfectoPharm for the sale of BioGaia's Probiotic drops in Germany.
- Agreement with Semper for the sale of probiotic oral rehydration solution in Sweden and Norway.
No key events have taken place after the end of the reporting period.
"We are seeing excellent results from our efforts, with year-on-year sales growth of 55% for the first six months. Even if one takes into account earlier than schedule deliveries for SEK 5.4 million and positive exchange rate effects, sales are increasing very satisfactorily. Furthermore I am very happy that we have succeeded in maintaining our gross margins and above all in containing our fixed costs," says Managing Director Peter Rothschild.
Latest press releases from BioGaia:
2009-06-30 BioGaia signs new agreement with Semper for unique probiotic oral rehydration solution
2009-06-11 BioGaia signs distribution agreement in Germany
2009-04-23 Annual General Meeting of BioGaia
For additional information contact:
Peter Rothschild, Managing Director, telephone +46 8 - 555 293 00
Jan Annwall, Deputy Managing Director, telephone +46 8 - 555 293 00