ZINZINO AB (PUBL): INTERIM REPORT Q1 – 2019
STRONG SALES GROWTH COMBINED WITH GOOD PROFITABILITY
With the support of a new efficient sales-stimulating campaign for the distributor organization, sales growth accelerated during the quarter, which resulted in total revenues increasing by 21% to SEK 168.3 (139.3) million. Strongest growth was found in Central Europe combined with good development in most other markets.
The company's digital development continued during the first quarter by fully activating the first part of the new communication platform. Zinzino's investments in IT systems and marketing tools continue to be fundamental to distributor activity, which drives sales in the various markets.
At the beginning of the second quarter, a new chapter in Zinzino's history when the sales in Australia started the 4th of April, 2019.
JANUARY - MARCH
- Total revenues increased 21% to 168.3 (139.3) MSEK;
- Gross profit amounted to 51.3 (48.4) MSEK and the gross profit margin to 30.5% (34.8%);
- EBITDA amounted to 11.8 (12.7) MSEK and the EBITDA margin to 7.0% (9.1%);
- Cash flow from operating activities amounted to 14.9 (13.3) MSEK;
- Cash and cash equivalents on the balance sheet date amounted to 55.8 (58.7) MSEK;
- New powerful sales campaign stimulates growth;
- Start of sales in Australia.
During the period, the Company changed regulations from "K3" to IFRS with the transition date on January 1st, 2018. The effect of the change means that the comparative figures for each quarter 2018 and the full year 2018 are converted to IFRS. Description and quantification are described in the interim report.
For more information:
Dag Bergheim Pettersen, CEO Zinzino, tfn +47 (0) 932 25 700 zinzino.com
Pictures for publication free of charge:
Marcus Tollbom, tfn +46 (0) 70-190 03 12
Erik Penser Bank Aktiebolag +46 (0)8 463 83 00 Email: firstname.lastname@example.org
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 16th of May, 2019.