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Lower second-quarter income but continued growth for full-year 2012

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Second quarter 2012

  • Net sales amounted to MSEK 21.9 (24.0).
  • Operating profit totalled MSEK 2.2 (6.3).
  • Profit after tax amounted to MSEK 2.0 (4.9).
  • Profit after tax per share was SEK 0.22 (0.53).
  • Cash flow was negative MSEK 2.6 (neg: 7.9). Probi paid a dividend of MSEK 6.8 (9.2).

First six months 2012

  • Net sales amounted to MSEK 52.5 (47.9).
  • Operating profit totalled MSEK 10.6 (13.0).
  • Profit after tax amounted to MSEK 8.4 (10.0).
  • Profit after tax per share was 0.92 (1.08).
  • Cash flow was MSEK 7.2 (-12.5). Probi paid a dividend of MSEK 6.8 (9.2).

Significant events during the second quarter:

• Probi signed a partnership agreement with Vifor Pharma for the launch of Probi Digestis and Probi Defendum in Switzerland.

Significant events after the close of the period:

• Probi signed a distribution agreement with Alvogen for the launch of Probi Digestis and Probi Defendum in Taiwan.

CEO’s comments:

“After the first quarter, which was our best quarter to date, we observed a temporary decline in sales in the second quarter. The total decline was MSEK 2.1 and, of this amount, MSEK 1.7 resulted from lower invoicing to HealthWorld in Australia, that received a free shipment of raw material as compensation for a faulty batch in 2011. Our operating profit for the second quarter declined MSEK 4.1 year-on-year primarily due to higher costs. As planned, we strengthened our organisation and the media campaign in collaboration with Bringwell has been concentrated to the first half of the year. Growth during the first half of the year was about 10% even though the new agreements signed to date this year have not yet begun to generate income. Looking at 2012 as a whole, we forecast continued growth although not at the level of our long-term goal of 25% annual growth. We are very pleased to have signed two new agreements since the end of the first quarter with Vifor in Switzerland and Alvogen in Taiwan, which will contribute to our continued expansion in Consumer Healthcare next year,” says Michael Oredsson, CEO of Probi.

For further information, please contact:

Michael Oredsson, CEO of Probi, tel: +46 (0)46-286 89 23 or +46 (0)707-18 89 30, e-mail: michael.oredsson@probi.se

This type of information is such that Probi AB must disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 16 August 2012 at 8:45 a.m.

This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.

About Probi

Probi is a leading player in probiotic research and development of effective and well-documented probiotics. The research areas are: the gastrointestinal tract, immune system, metabolic syndrome, as well as stress and recovery. Probi’s customers are leading companies in the Functional Food and Consumer Healthcare segments. Total income for 2011 was MSEK 95.0. Probi’s share is listed on Nasdaq OMX Stockholm, Small Cap. Probi has approximately 5,000 shareholders. Read more on www.probi.se.

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Interim report Q2 Probi

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