Q2 2019: Favourable growth continues in Q2
Significant events in the second quarter
- Second-quarter net sales amounted to MSEK 180 (153), an increase of 18% (adjusted for currency effects 15%) compared with the second quarter of 2018
- EBITDA for the second quarter amounted to MSEK 57 (43), an increase of 32% compared with the second quarter of 2018
- A successfully completed clinical trial on 326 healthy pregnant women showed that intake of Probi FerroSorb® significantly improved iron status
- New product concept launched in the Nordic market, adapted for consumers of all ages, with the products Probi® Baby, Probi® Gravid, Probi® Family and Probi® Active 50+
- Partial early repayment of loan for a total amount of MSEK 39 due to strong cash flow
Financial overview
| MSEK | Apr-Jun 2019 | Apr-Jun 2018 | Jan-Jun 2019 | Jan-Jun 2018 | ||||
| Net sales | 180.3 | 153.2 | 318.5 | 272.4 | ||||
| Gross margin, % | 49.8% | 47.0% | 46.4% | 44.8% | ||||
| EBITDA 1) | 56.5 | 42.7 | 84.7 | 59.9 | ||||
| EBITDA margin, % 1) | 31.3% | 27.9% | 26.6% | 22.0% | ||||
| Operating profit (EBIT) | 39.1 | 28.2 | 50.4 | 32.6 | ||||
| Net income | 29.8 | 21.0 | 38.4 | 24.3 | ||||
| Earnings per share before and after dilution, SEK | 2.62 | 1.84 | 3.37 | 2.13 | ||||
| Share price on closing day, SEK | 322.50 | 362.80 | 322.50 | 362.80 | ||||
| Market cap on closing day | 3,674.6 | 4,133.8 | 3,674.6 | 4,133.8 | ||||
| See note 5 for definitions of ratios not defined according to IFRS | ||||||||
| 1) See note 1 for ratio excluding IFRS 16 leasing impact |
Invitation to teleconference
Date: 19 July 2019
Time: 10:00 a.m.
Phone: +46 (0)8 56 64 27 03
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
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 19 July 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.
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.
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