Q1 2019: Revenue growth and strong cash flow starts the year
Significant events in the first quarter
- First-quarter net sales rose to MSEK 138, up 16%, or MSEK 19 compared with the first quarter 2018
- EBITDA increased by MSEK 11, up 64% compared with the first quarter 2018
- Early repayment of a bank loan totalling MSEK 60 reflects the strength of Probi’s balance sheet and cash flow
- Ongoing launches of Probi® Osteo, for the prevention of bone loss in postmenopausal women. Strong customer interest and several customer launches planned in 2019
Financial overview
| MSEK | Q1 2019 |
Q1 2018 | Full-year 2018 |
| Net sales | 138.2 | 119.2 | 604.1 |
| Net sales growth, constant currency, % | 10.4% | -33.7% | -2.2% |
| Gross margin, % | 42.0% | 42.0% | 46.0% |
| EBITDA | 28.2 | 17.2 | 154.9 |
| EBITDA margin, % | 20.4% | 14.4% | 25.6% |
| Operating profit (EBIT) | 11.3 | 4.4 | 101.1 |
| Net income | 8.5 | 3.3 | 76.3 |
| Earnings per share before and after dilution, SEK | 0.75 | 0.29 | 6.69 |
| Share price on closing day, SEK | 338.00 | 438.40 | 360.00 |
| Market cap on closing day | 3,851.2 | 4,995.2 | 4,101.9 |
| See note 5 for definitions of ratios not defined according to IFRS | |||
Invitation to teleconference
Date: 29 April 2019
Time: 10:00 a.m.
Phone: +46 (0)8 50 55 83 69
Participants from Probi:
Tom Rönnlund, CEO
Henrik Lundkvist, CFO
The presentation is available at www.probi.com and www.financialhearings.com
Contact
Tom Rönnlund, CEO: Phone: +46 (0)46 286 89 40, E-mail: trd@probi.com
Henrik Lundkvist, CFO: Phone: +46 (0)46 286 89 41, E-mail: henrik.lundkvist@probi.com
About Probi
Probi AB is a Swedish publicly traded bioengineering company. Probi’s vision is to help people live healthier lives by delivering effective and well-documented probiotics, with proven health benefits based on scientific research. Founded by scientists in Sweden in 1991, Probi is a multinational company, active in more than 40 markets around the world and holding over 400 patents worldwide. In 2018, Probi had net sales of MSEK 604. The Probi share is traded on Nasdaq Stockholm, Mid Cap. Probi had about 4,000 shareholders on December 31, 2018. probi.com
This information is information that Probi AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 29 April 2019 at 8:00 a.m. CET. This a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.
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