BioGaia AB Interim report 1 January – 31 March 2013
ET | Source:BioGaia AB
“The year is off to a positive start with a growth rate of 25% (excluding
foreign exchange effects) of our finished consumer products and in light of our
focused efforts to enter the truly large markets and create additional business
opportunities together with Nestlé, I am optimistic about our ability to exploit
the potential of our acknowledged effective products in the expanding probiotics
market,” says Peter Rothschild, President of BioGaia AB.
“Sales of component products, consisting mainly of cultures to Nestlé and a few
other producers of baby formula products, decreased according to plan following
last year’s agreement with Nestlé for a perpetual license to use Lactobacillus
reuteri Protectis in baby formula” continues Peter Rothschild, President of
1 January – 31 March 2013
(Figures in brackets refer to the same period of last year)
- Net sales reached SEK 78.1 million (78.3) (excluding licence revenue from
Nestlé), which is a decrease of SEK 0.2 million (0%). Excluding foreign exchange
effects, net sales improved by SEK 3.0 million (4%). Net sales for the previous
year also included licence revenue of SEK 356.0 million from Nestlé, regarding
the license to use Lactobacillus reuteri Protectis in infant formula during the
remaining time of the patent that was regarded as non-recurring revenue.
- Net sales of finished consumer products amounted to SEK 65.6 million (54.8),
an increase of SEK 10.8 million (20%). Excluding foreign exchange effects, net
sales were up by 25%.
- Net sales of component products totalled SEK 11.9 million (23.0) (excluding
licence revenue from Nestlé), a decrease of SEK 11.1 million (48%). Excluding
foreign exchange effects, net sales fell by 46%. Net sales for the previous year
also included licence revenue of SEK 356.0 million from Nestlé that was regarded
as non-recurring revenue.
- Operating profit was SEK 17.8 million (26.1) (excluding licence revenue), down
by SEK 8.3 million (-32%). Excluding foreign exchange effects, the decrease was
26%. Including licence revenue, operating profit for the first quarter of last
year was SEK 382.1 million.
- Profit after tax was SEK 17.7 million (20.8) (excluding licence revenue), a
decrease of SEK 3.1 million (-15%). Including licence revenue, profit after tax
for the first quarter of last year was SEK 283.2 million.
- Earnings per share totalled SEK 0.97 (1.18) (excluding licence revenue).
Including licence revenue, earnings per share for the first quarter of last year
amounted to SEK 16.37.
- The period’s total cash flow was SEK 22.8 million (358.7). Last year’s cash
flow included payment of SEK 356.0 million in licence revenue from Nestlé. Cash
and cash equivalents at 31 March 2013 totalled SEK 397.6 million (529.9). Cash
flow since 31 March 2012 includes dividends of SEK 103.6 million, tax payments
of SEK 90.9 million and investments in Twopac of SEK 19.7 million. The proposed
dividend to the upcoming AGM amounts to a total of SEK 172.7 million.
Key events in the first quarter of 2013
- Launch of gut health tablets with Vitamin D in Finland.
- Launch of gut health tablets in an additional flavour in Hungary and France.
You are welcome to take part in a teleconference on the interim report that will
be held today at 9:30 a.m. by President Peter Rothschild. To participate in the
conference, please see telephone numbers on www.biogaia.com/agenda.
BioGaia has published this information in accordance with the Swedish Securities
Market Act. The information was issued for publication on 26 April 2013, 8:00
This is a translation of Swedish version of the interim report. When in doubt,
the Swedish wording prevails.
Latest press releases from BioGaia:
21 Mar 2013 - Notice to attend the Annual General Meeting of BioGaia AB
8 Feb 2013 - BioGaia AB Year-end report 2012
17 Dec 2012 - BioGaia signs two new distribution agreements and yet another
study on periodontitis shows positive results
BioGaia AB Box 3242, SE-103 64 STOCKHOLM
Street address: Kungsbroplan 3A, Stockholm
Telephone: 46 8-555 293 00, Corp. Identity no. 556380-8723 www.biogaia.com
For additional information contact:
Peter Rothschild, President, BioGaia AB, telephone 46 8-555 293 00
or Margareta Hagman, Executive Vice President, BioGaia AB, telephone 46 8-555
BioGaia is a healthcare company that develops, markets and sells probiotic
products with documented health benefits. The products are primarily based on
the lactic acid bacterium Lactobacillus reuteri, which has probiotic, health
-enhancing effects. The class B share of the Parent Company BioGaia AB is quoted
on the Mid Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com
GlobeNewswire, a NASDAQ OMX company, is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.