Managing Director’s comments:
“We cannot but feel happy and satisfied with the past year. Thanks to sales
growth of 16% after exchange rate adjustments, we are now approaching sales of
one half billion. According to our data, the total market for probiotic dietary
supplements is expanding by around 8% annually, which means that we are winning
market shares. Our operating profit reached SEK 152 million, resulting in an
operating margin of over 31%. And this was achieved despite expenses of SEK 20.6
million for our subsidiary IBT. Without these expenses our operating margin
would have been a full 36%,” says Peter Rothschild, Managing Director BioGaia.
Full year 2015
(Figures in brackets refer to the same period of last year.)
· Net sales amounted to SEK 483.2 million (386.4)¹, an increase of SEK 96.8
million (25%) (excluding foreign exchange effects, 16%).
· Net sales in the Paediatrics business area reached SEK 389.6 million
(301.2)¹ ², an increase of SEK 88.4 million (29%) (excluding foreign exchange
effects, 19%).
· Net sales in the Adult Health business area amounted to SEK 74.7 million
(69.4), an increase of SEK 5.3 million (8%) (excluding foreign exchange effects,
2%).
· Operating profit was SEK 152.2 million (101.5)¹, an increase of SEK 50.7
million (50%) (excluding foreign exchange effects, 24%). Excluding expenses in
the subsidiary Infant Bacterial Therapeutics (IBT), operating profit was SEK
172.8 (108.1)¹ million, an increase of SEK 64.7 million (60%).
· Profit after tax was SEK 121.3 million (73.6)¹, an increase of SEK 47.7
million (65%).
· Earnings per share totalled SEK 7.01 (4.23)¹.
· The period’s cash flow was SEK 15.1 million (-25.0). Cash and cash
equivalents at 31 December 2015 amounted to SEK 226.9 million (210.7).
· The Board proposes that the upcoming Annual General Meeting on 10 May 2016
approve an ordinary dividend of SEK 3.03 per share and an extraordinary dividend
of SEK 1.97 per share, for a total dividend of SEK 5.00 per share.
· The Board also proposes that the Extraordinary General Meeting on 18 March
2016 approve the distribution of the company’s shares in the subsidiary IBT to
the shareholders in BioGaia in connection with application for listing of the
shares on First North, corresponding to SEK 4.72 per share.
Fourth quarter 2015
· Net sales amounted to SEK 104.4 million (121.4), a decrease of SEK 17.0
million (-14%) (excluding foreign exchange effects, -16%).
· Net sales in the Paediatrics business area reached SEK 76.6 million (93.6)²,
a decrease of SEK 17.0 million (-18%) (excluding foreign exchange effects,
-21%).
· Net sales in the Adult Health business area amounted to SEK 20.0 million
(23.0)², a decrease of SEK 3.0 million (-13%) (excluding foreign exchange
effects, -15%).
· Operating profit was SEK 27.5 million (30.6), a decrease of SEK 3.1 million
(-10%) (excluding foreign exchange effects, -15%). Excluding expenses in the
subsidiary IBT, operating profit was SEK 32.0 (32.9) million, a decrease of SEK
0.9 million (-3%).
· Profit after tax was SEK 21.7 million (19.1), an increase of SEK 2.6 million
(14%).
· Earnings per share totalled SEK 1.26 (1.04).
· The period’s cash flow was SEK 7.1 million (-13.9).
Key events in the fourth quarter of 2015
· Study shows that BioGaia Protectis promotes growth of children and prevents
recurrent diarrhoea.
· BioGaia appoints new Managing Director.
· BioGaia makes further investment in MetaboGen.
Key events after the end of 2015
· BioGaia’s subsidiary IBT has US IND open and Swedish CTA approved for
clinical study.
· New meta-analysis confirms effectiveness of BioGaia Protectis for infant
colic.
1) Excluding license revenue from Nestlé. Including license revenue from Nestlé,
net sales for the period from 2014 amounted to SEK 481.8 million, net sales in
the Paediatrics business area to SEK 396.6² million, operating profit to SEK
196.9 million, profit after tax to SEK 148.0 million and earnings per share to
SEK 8.53.
2) A minor reallocation between segments was made in the previous year’s sales
in order to achieve better comparability with the year’s figures.
Teleconference: You are welcome to take part in a teleconference on the interim
report that will be held today at 9:30 a.m. by Managing Director Peter
Rothschild. To participate in the teleconference Please see
www.biogaia.com/agenda. Link to presentation:
http://financialhearings.nu/160212/biogaia/
BioGaia has published this information in accordance with the Swedish Securities
Act. The information was issued for publication on 12 February 2016, 8.00 a.m.
This is a translation of the Swedish version of the interim report. When in
doubt, the Swedish wording shall prevail.
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
293 00
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
