Financial Statements 1 January - 31 December 2014, Zinzino AB (publ)

“In 2014 we achieved growth of more than 40 per cent. Our aim in 2015 is to
continue to grow and gain many new customers. We want to achieve growth of at
least 25 per cent and an improvement in results every year for the next three
years.”

Dag Bergheim Pettersen, CEO of Zinzino AB
SUMMARY OF Q4, 2014 (compared with the same period in the previous year, 2013)

Total revenue amounted to SEK 114.6m (82.2m), which corresponds to sales growth
of 39.5 per cent for the group, compared with the previous year. Pre-tax profit
amounted to SEK 5.2m (5.0m), corresponding to earnings per share of SEK 0.18
(0.17). Results were weighed down by non-recurring costs of a total of SEK 3.1m
(0.0m).

FOURTH QUARTER, Q4, 2014, (compared with the same period in the previous year,
2013)

  · Total adjusted revenue amounted to SEK 114.6m (82.2m), corresponding to
growth of 39.5%.
  · Operating profit before depreciation amounted to SEK 7.3m (5.3m) and the
operating margin before depreciation was 6.4% (6,4%).
  · Profit before tax amounted to SEK 5.2m (5.0m). Earnings per share before tax
amounted to SEK 0.18 (0.17).
  · Profit after tax totalled SEK 19,5m (4.5m), which the minority interest
amounts to SEK 1.5m (0.5m). Net margin 17.0% (5.5%).
  · Deferred tax assets on tax loss carryforwards have a positive impact of SEK
14.5m.

1 JANUARY – 31 DECEMBER 2014 (compared with the same period in the previous
year, 2013)

  · Total adjusted revenue amounted to SEK 357.7m (254.5m), corresponding to
growth of 40.5%.
  · Operating profit before depreciation amounted to SEK 21.4m (11.2m) and the
operating margin before depreciation was 6.0% (4,4%).
  · Pre-tax profit tax totalled SEK 18.4m (10.4m). Diluted earnings per share
before tax amounted to SEK 0.63 (0.35) after dilution.
  · Profit after tax amounted to SEK 32.7m (9.8m), which corresponds to a net
margin of 9.1% (3.9%). Minority interest amounts to SEK 2.8m (0.8m).
  · Deferred tax assets on tax loss carryforwards have a positive impact of SEK
14.5m.
  · Liquid assets at the year-end totalled SEK 42.8m (10.9m).
  · The Board proposes that for the fiscal year 2014 dividend of SEK 0.25 (0.10)
per share.

KEY EVENTS DURING THE PERIOD 1 JANUARY - 31 DECEMBER 2014

  · Admission to trading on Nasdaq OMX First North took place on 11th December
2014. The purpose of the listing was to make trading in the company's shares
easier for foreign shareholders and to attract new investors. Erik Penser acts
as Certified Adviser.
  · Zinzino AB has acquired 85% of Faun Pharma AS – an investment totalling SEK
10m.
  · In December 2014, Zinzino AB acquired the outstanding 90% of Bioactive Foods
AS, which thus became a wholly owned subsidiary of Zinzino AB. The company has
in cooperation with Zinzino developed, researched and produced Zinzino's Balance
products.
  · New product launch: Xtender, which is designed to protect, preserve and
regenerate cells and tissues.
  · Launch of a new flavour for BalanceOil: Orange/lemon/mint.
  · Investments in a new IT system have resulted in new investments of SEK 2m of
which SEK 0.5m in 2014 and impairment of intangible assets of SEK 1.1m, taken as
a one-time expense in the fourth quarter of 2014.
  · The group gained 22,738 (17,165) new customers in the fourth quarter. The
sales force was expanded by 2,468 (3,057) distributors.
  · Turnover distribution by product area (as % of turnover) was 29% for Zinzino
Coffee and 71% for Zinzino Food in the fourth quarter.


COMMENT BY CEO DAG BERGHEIM PETTERSEN:

“2014 was yet another strong year and we delivered on our promise to the market
of growth and improved profitability. We achieved growth of around 40% not only
in the last quarter but also in the remainder of 2014 - strong figures, which
are better than we had expected at the beginning of the year. Profitability also
improved, with an operating margin that now exceeds 5% of our total revenue of
more than SEK 350m. We consider the main factors for the improvement in
profitability compared with the previous year to be our focus on growth and
increased customer quotas, that is, number of customers per salesperson.

I am both delighted and proud of our financial development, but even more
important are perhaps the decisions on, and implementation of, the investments
which will make us better equipped and more efficient in the coming years. In
the final quarter of 2014 we acquired our own production capacity through the
investment in Faun Pharma. In addition, we acquired 100% of Bioactive Foods AS,
a company we already had a stake in. These investments will give us an excellent
platform for product development and will enable us to reduce our materials
costs. This, in turn, will give us a competitive advantage and improved margins,
safeguarding Zinzino's operations and future.

The change in trading platform to Nasdaq OMX First North is yet another
important step we have taken this year and a natural step in our strategic plan
concerning international expansion of the company. Currently, we are active in
12 markets. Our goal is to be established in 20 markets by 2020. In 2015, our
aim is to establish operations in Germany and Canada, both countries with a
large population and large potential markets for Zinzino. The expansion into
both markets will be implemented in a cost-efficient manner with the help of the
existing organisations in Sweden and the USA.

Customer growth and improved efficiency are deeply ingrained in our culture and
strategy. On the strength of all the investments carried out in 2014, in 2015 we
will continue to actively work towards continued growth in all markets,
integration and improved efficiency of Bioactive Foods and Faun Pharma, entering
new markets, strengthening our organisation, improved IT structure, improved
margins on goods sold and improved profitability.

Our primary focus in 2015 is growth and many new customers. We want to achieve
growth of at least 25% and an improved result every year for the next three
years.”

Dag Bergheim Pettersen, CEO, Zinzino AB


For a full report, please see the attached PDF.

This information comprises information that Zinzino AB must disclose under the
Securities Market Act and/or the Financial Instruments Trading Act. The
information was submitted for publication on
27th February 2015.

INFORMATION ABOUT THE COMPANY Zinzino was founded under the name Zinzino Holding
in autumn 2007. In 2009, the company acquired 93% of the equity and 97% of the
votes in Zinzino Nordic AB, partly by means of a non-cash issue and partly by
means of a private placement. Zinzino Nordic is a sales company that uses
independent distributors to market and sell products for commission via so
-called direct sales.

NEXT REPORT
The Q1 quarterly report will be published on 22th May, 2015.

For further information:
Dag Bergheim Pettersen, CEO, Zinzino, Tel. +47(0) 93 22 57 00
Fredrik Nielsen, CFO, Zinzino, Tel. +46 (0) 707 900 174
Photos for publication free of charge:
Anders Ekhammar, Tel. +46 (0) 707 462 579
www.zinzino.se