Press Release, 23 October, 2008 (11 pages)
BioGaia AB Interim Report 1 January - 30 September 2008
(Figures in brackets refer to the same period of last year)
* Net sales amounted to SEK 106.0 million (74.6), an increase of SEK
31.4 million (42%) compared to the same period of last year.
* Operating profit was SEK 18.4 million (3.3), an improvement of SEK
15.1 million compared to the same period of last year.
* Profit before tax was SEK 20.1 million (4.4), an improvement of SEK
15.7 million compared to the same period of last year.
* Profit after tax was SEK 31.1 million (4.4), an improvement of SEK
26.7 million over the same period of last year. Profit for the
period includes a tax benefit of SEK 11 million pertaining to a
change in the deferred tax asset.
* Earnings per share were SEK 1.81 (0.25).
* The period's cash flow from operating activities before change in
working capital was SEK 23.3 million (8.5). Total cash flow for the
period was SEK 15.7 million (4.9). Cash and cash equivalents at 30
September 2008 totalled SEK 58.8 million (44.6).
Key events in the third quarter of 2008
* Extended agreement with Ferring for the sale of BioGaia's Probiotic
drops and tablets in 10 countries in Latin America.
* Agreement with AllergyCare AG for the sale of BioGaia's Probiotic
drops and tablets in Switzerland.
* Global license agreement with Nestlé Nutrition regarding the right
to use Reuteri in dairy products in infant and follow on formulas.
* License agreement with Kavli regarding the right to use Reuteri in
dairy products in Norway.
* Nestlé launches "Boost Kid Essentials" in the US with BioGaia's
Probiotic straw.
Key events after the end of the third quarter
* BioGaia invests in LifeTop Cap in new subsidiary."Our long-term focus on research and product development has given
us unique products with very positive clinical results. That there
is a demand for these products in the market is visible in our
robust sales growth with healthy gross margins and net margins of
around 20%. We are not noticing any negative effects of the
financial crisis or market downturn, as our products are sold
primarily via pharmacies and belong to a segment that is generally
not as cycle-sensitive as many others. We therefore look forward to
continued strong growth.
The company has a very solid financial position with no loans, net
cash of SEK 59 million and an equity/assets ratio of 87 %", says
Managing Director Peter Rothschild.
Latest press releases from BioGaia:
2008-10-08 BioGaia invests in LifeTop Cap in new subsidiary
2008-09-17 Nestlé launches "Boost Kid Essentials" in the US with
BioGaia's Probiotic straw
2008-09-08 Q-Mejerierna launches yoghurt drink with BioGaia's
probiotic
For additional information contact Peter Rothschild, Managing
Director, telephone: +46 8 -555 293 00
Jan Annwall, Deputy Managing Director, telephone: +46 8 - 555 293
00
BioGaia is a biotechnology company that develops, markets and sells
probiotic products with documented health benefits. The products
are primarily based on the lactic acid bacterium Lactobacillus
reuteri (Reuteri), which has probiotic, health-enhancing effects.
The class B share of the Parent Company BioGaia AB is quoted on the
Small Cap list of the Nasdaq OMX Nordic Exchange Stockholm.
www.biogaia.com
