ZINZINO AB (PUBL): INTERIM REPORT FIRST QUARTER 2021
MAINTAINED STRONG SALES GROWTH WITH RECORD PROFITABILITY
The first quarter of 2021 was yet another quarter in which good sales growth was combined with high profitability.
Total revenues in the Group increased by 38% and amounted to SEK 333.4 (242.1) million, after sales growth in all regions except the Nordics. Strongest growth continued to be found among the other European regions. Asia and North America also increased significantly during the quarter. Profitability was also very good, and the EBITDA result amounted to SEK 37.3 (26.3) million for the quarter. The EBITDA margin thus amounted to a record 11.2% (10.9%). The adjusted EBITDA result amounted to SEK 37.3 (4.1) million and the adjusted EBITDA margin to 11.2% (1.7%). The margin improvement is achieved through economies of scale due to improved efficiency in IT systems, logistics and within the organization.
JANUARY - MARCH
• Total revenue increased by 38% to SEK 333.4 (242.1) million
• Gross profit amounted to SEK 101.2 (83.7)* million and the gross profit margin was 30.4% (34.6%)*
• Adjusted gross profit amounted to SEK 101.2 (61.5) million and the adjusted gross profit margin to 30.4% (25.4%)
• EBITDA amounted to SEK 37,3 (26,3)* million and the EBITDA margin to 11.2% (10.9%)*
• Adjusted EBITDA amounted to SEK 37.3 (4.1) million and the adjusted EBITDA margin to 11.2% (1.7%)
• Cash flow from operating activities totalled SEK 48.0 (32.6) million
• Liquid assets on the balance sheet date were SEK 191.5 (107.9) million
* For comparative figures for the first quarter of 2020, gross profit and EBITDA are affected by SEK 22.2 million due to a change in accounting as a result of changes in distributor remuneration terms.
For more information:
Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700, zinzino.com
Pictures for publication free of charge:
Marcus Tollbom +46 (0) 70 190 03 12, marcus.tollbom@zinzino.com
Certified Adviser:
Erik Penser Bank Aktiebolag, +46 (0) 8 463 83 00, email: certifiedadviser@penser.se
Zinzino AB (publ) is obliged to publish this information in compliance with current EU regulations governing market abuse. The information was provided by the above contact person for publication at 08.00 the 18th of May 2021.
Zinzino AB (publ.) is a global Direct Sales company that markets and sells test-based nutrition, skincare and life-style products. Zinzino owns the research unit BioActive Foods AS and production unit Faun Pharma AS. Zinzino is based in Gothenburg, with additional offices in Finland, Latvia, Norway, USA, Australia, Hong Kong and Malaysia. Zinzino is a public company and its shares are listed on Nasdaq First North Premier Growth Market.
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