ZINZINO AB (PUBL): INTERIM REPORT Q2 2019
ZINZINO UPGRADES THE SALESFORCAST
Strong growth in Central Europe combined with good development in most other markets contributed to total revenues increasing by 23% to SEK 179.5 (145.5) million in the second quarter.
During the quarter, a successful launch in Australia was completed and the rapidly rising number of customers and distributors in the market is now establishing a local office in Adelaide. In addition, Zinzino has launched the new product Essent, the next-generation capsule-based dietary supplement in Omega-3, a new and very important product for the North American market.
Accumulated January to June, total revenues increased by 22% to SEK 347.8 (284.8) million. The good sales growth so far this year, combined with expectations for the second half of the year, means that Zinzino's Board of Directors and management are now updating the revenue forecast for 2019, with total revenues expected to exceed SEK 700 (577) million.
- Total revenues increased 23% to SEK 179.5 (145.5) million
- Gross profit amounted to SEK 55.0 (47.6) million and the gross profit margin to 30.6% (32.7%)
- EBITDA amounted to SEK 11.0 (9.4) million and the EBITDA margin to 6.1% (6.5%)
- Cash flow from operating activities amounted to SEK 2.9 (2.0) million
- Expanded establishment in Australia after successful launch
- Launch of Zinzino Essent - the next generation of nutritional supplements within Omega-3
- Total revenue increased 22% to SEK 347.8 (284.8) million
- Gross profit amounted to SEK 106.3 (96.0) million and the gross profit margin to 30.6% (33.7%)
- EBITDA amounted to SEK 22.8 (22.1) million and the EBITDA margin to 6.6% (7.8%)
- Cash flow from operating activities amounted to SEK17.8 (16.4) million
- Cash and cash equivalents at the balance sheet date amounted to SEK 30.8 (42.9) million
- Zinzino's Board of Directors adjusts its forecast for 2019 to total revenues exceeding SEK 700 (577) million
For more information please contact:
Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700, zinzino.com
Pictures for free publication:
Marcus Tollbom +46 (0) 70 190 03 12
Certified Adviser: Erik Penser Bank Aktiebolag, +46 (0) 8 463 83 00,
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 30th of August 2019.
Zinzino AB (publ.) is a direct sales company that operates throughout Europe, North America and Australia. Zinzino markets and sells products in two product lines: Zinzino Health, with a focus on long-term health, and Zinzino Coffee, consisting of espresso machines, coffee and tea. Zinzino owns the Norwegian company BioActive Foods AS and the research and production unit Faun Pharma AS. Zinzino has more than 120 employees and currently trades in 34 markets across Europe, North America and Australia. Zinzino is based in Gothenburg, with additional offices in Helsinki, Riga, Oslo and Florida, USA. Zinzino is a public company listed on Nasdaq First North.