ZINZINO AB (PUBL): INTERIM REPORT SECOND QUARTER 2021
INCREASED PROFIT FORECAST AFTER ANOTHER STRONG QUARTER
The second quarter of 2021 was yet another quarter in which good sales growth was combined with high profitability. Total revenues in the Group increased by 18% and amounted to SEK 322.4 (274.3) million. EBITDA result amounted to SEK 33.4 (16.0) million for the quarter and the EBITDA margin amounted to 10.4% (5.8%). The margin improvement is achieved through economies of scale due to improved efficiency in IT systems, logistics and within the organization. During the quarter, sales started in India, and Malaysia achieved full market status. In addition, the new products BalanceOil+ Premium and ZinzinoGene+ were launched.
The good profitability during the first half of the year means that the board writes up the profit forecast for the full year. The expected EBITDA margin for the full year is now adjusted up from at least 6% to between 8% -11%. The total income for the full year is expected to exceed SEK 1,400 million.
APRIL-JUNE
• Total revenues increased by 18% to SEK 322.4 (274.3) million
• Gross profit amounted to SEK 105.1 (73.5) million and the gross profit margin was 32.6% (26.8%)
• EBITDA amounted to SEK 33.4 (16.0) million and the EBITDA margin to 10.4% (5.8%)
• Cash flow from operating activities amounted to SEK 22.4 (19.9) million
• The Board adjusts the expected EBITDA margin for the full year to 8% -11%
JANUARY-JUNE
• Total revenues increased by 27% to SEK 655.8 (516.4) million
• Gross profit was SEK 206.3 (157.2*) million and the gross profit margin was 31.5% (30.4%*)
• Adjusted gross profit was SEK 206.3 (135.0*) million and the adjusted gross profit margin was 31.5% (26.1%*)
• EBITDA was SEK 70.7 (42.3*) million and the EBITDA margin was 10.8% (8.2%*)
• Adjusted EBITDA was SEK 70.7 (20.1*) million and the adjusted EBITDA margin was 10.8% (3.9%*)
• Cash flow from operating activities was SEK 70.4 (52.5) million
• Cash and cash equivalents at the balance sheet date amounted to SEK 166.9 (107.2) million
* For comparative figures for the first half of 2020 gross profit and EBITDA are affected with 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 27th of August 2021.
Zinzino is a global D2C company from Scandinavia specializing in biomarker-based, personalized nutrition and health tech. Founded in 2005, it is a public limited company with its shares listed on Nasdaq First North Premier Growth Market. Their test-based, scientifically proven nutritional supplements are currently available on 97 markets across the world.
Zinzino owns the Norwegian research and production units BioActive Foods AS and Faun Pharma AS. The company headquarters is in Gothenburg, Sweden with additional offices in Finland, Latvia, Norway, USA, Australia, Hong Kong, Malaysia and India.
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