Q3 2018: Probi delivers strong operating performance and appoints new CEO

Highlights and significant events in the third quarter
• Q3 net sales increase to MSEK 169, up 26% or MSEK 35 quarter-on-quarter, driven by improved commercial execution and recovery from a customer destocking program
• Probi appoints Tom Rönnlund as new CEO, starting end of 2018, and implements a new, customer-centric organizational structure
• Partial early redemption of bank borrowings for a total amount of MSEK 57, reflecting the strength of Probi’s balance sheet, improved margins and cash flows

Financial overview

MSEK    9M 2018    9M 2017   Full-year 2017
     
Net sales   441.3   492.9   612.2
Net sales growth, constant currency, %   -10.3%   95.3%   38.2%
Gross margin, %   45.8%   46.4%   45.4%
EBITDA   110.8   136.5   157.3
EBITDA margin, %   25.1%   27.7%   25.7%
Operating profit (EBIT)   70.5   96.4   104.1
Net income   52.4   68.1   69.1
Earnings per share before and after dilution, SEK   4.60   5.98   6.06
Share price on closing day, SEK   413.60   350.00   340.00
Market cap on closing day   4,712.6   3,987.9   3,874.0
See note 5 for definitions of ratios not defined according to IFRS             

Invitation to Teleconference
Date: November 1, 2018
Time: 10:00 a.m.
Phone: +46 8 56 64 26 64
Participants from Probi: Jörn Andreas, CFO 
The presentation is available at www.probi.com and www.financialhearings.com

Contacts
Ole Søgaard Andersen, CEO: Phone: +46 46 286 89 40 E-mail: ole.sogaard.andersen@probi.com
Jörn Andreas, CFO: Phone: +46 46 286 89 41 E-mail: jorn.andreas@probi.com

About Probi
Probi AB is a Swedish publicly traded bioengineering company. The vision of Probi 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 with four sites, active in more than 40 markets around the world and holding over 400 patents worldwide. In 2017, Probi had net sales of MSEK 612. The Probi share is listed on Nasdaq Stockholm, Mid Cap. Probi has about 5,000 shareholders. 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, at 8:00 a.m. CET on November 1, 2018. This a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails.

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About Us

Probi AB is a Swedish publicly traded biotechnology company that develops effective and well-documented probiotics. Through its research, Probi has created a strong product portfolio in the gastrointestinal health and immune system areas. The products are available to consumers in more than 40 countries worldwide. The customers are leading food, health-product and pharmaceutical companies in the Functional Food and Consumer Healthcare segments. The Probi share is listed on NASDAQ OMX Stockholm, Mid-cap. Read more on www.probi.se.

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