PRELIMINARY ANNUAL REPORT 2009
2009 profits increase despite decrease in turnover
• Net sales amounted to 65.5 (68.0) million SEK for the year and 15.8 (15.7) million SEK for the fourth quarter. • EBIT amounted to 13.8 million SEK (10.2) for the year and 1.8 million SEK (2.5) for the fourth quarter, an increase of 35 percent for the year. • Profit after tax amounted to 10.8 million SEK (8.0) for the year and 1.4 million SEK (1.4) for the fourth quarter. • Earnings per share amounted to 1.15 SEK (0.85) for the year and 0.15 (0.15) for the fourth quarter. • Cash flow amounted to 10.4 million SEK (13.9) for the year and -1.3 million SEK (5.7) for the fourth quarter. • Bravo Friscus, a new probiotic juice with positive effects on the immune system, was launched with Skånemejerier in Sweden during autumn. • Partnership with Bringwell to launch Probi’s dietary supplements for immune health and digestive health under Probi’s own brands on the Nordic market during 2010. • Jarrow Formulas to launch Probi’s dietary supplement for digestive health in the US Health Food channel in 2010, through a new agreement with Institut Rosell. • Merck KGaA to launch Probi’s dietary supplement for digestive health in Latin America in 2010, through a new agreement with Institut Rosell in January. • Probi’s supply agreement with Kraft Foods terminated in 2009, which resulted in a decrease in Probi’s net sales compared to 2008, but triggered a payment of 5.4 million SEK in the second quarter of 2009 upon termination. • Royalty proceeds from ProViva rose by 7 percent during 2009. • The Board of Directors proposes dividend of 0.50 SEK per share. CEO’s comments: ”Probi’s increase in profits for the year demonstrates that we are on the right track. During 2009 we have continued to broaden our footprint with new launches in both Functional Food and Dietary Supplements. We are evolving from being a pure ingredients company to one that also offers finished products under our own brand within immune and digestive health,” says Michael Oredsson, CEO of Probi.