CEO’s comments:
“The quarter saw a 60 % increase in operating profit and for the past 12-month period a 45 % increase. Despite only a limited growth in costs, it is still possible for sales to rise significantly, which shows that our business model is working well. Over and above the 60 per cent increase of operating profit, a licence revenue of SEK 95.4 million from Nestlé was added during the quarter”, says Peter Rothschild, CEO of BioGaia.

Period from 1 January to 31 March 2014
(Figures in brackets refer to the same period of last year)

  • Net sales reached SEK 188.6 million (78.1), an increase of SEK 110.5 million (141%). Net sales include license revenue of SEK 95.4 million from Nestlé. Excluding license revenue from Nestlé, net sales amounted to SEK 93.2, an improvement of 19% (excluding foreign exchange effects 17%).
  • Net sales in the Paediatrics business area totalled SEK 76.7¹) million (61.2), up by SEK 15.5 million (25%).
  • Net sales in the Adult Health business area reached SEK 15.0 million (16.9), a decrease of SEK 1.9 million (-11%).
  • Operating profit was SEK 123.8 million (17.8), an increase of SEK 106.0 million (596 %). Excluding license revenue from Nestlé, operating profit amounted to SEK 28.4 million, up by 60%. (excluding foreign exchange effects 48%).
  • Profit after tax was SEK 97.0 million (17.7), an increase of SEK 79.3 million (448%). Excluding license revenue from Nestlé, profit after tax was SEK 22.6 million, an improvement of 28%.
  • Earnings per share totalled SEK 5.63 (0.97). Excluding license revenue from Nestlé, earnings per share were SEK 1.32.
  • The period’s cash flow was SEK 108.4 million (22.8). Cash and cash equivalents at 31 March 2014 amounted to SEK 342.7 million (397.6). The dividend proposed for approval by the coming AGM amounts to a total of SEK 120.9 million.

Key events in the fourth quarter of 2013

  • Publication of study showing that colic can be prevented.
  • No significant differences in BioGaia’s diabetes study.
  • BioGaia receives additional payment of license revenue from Nestlé of EUR 10.8 million (SEK 95.4 million).
  • BioGaia enters new, extended agreement Nestlé.
  • Publication of new study showing that it is possible to prevent common infections in children.

1) Excluding license revenue from Nestlé. Including license revenue from Nestlé, net sales in the Paediatrics business area amounted to SEK 172.1 million.

Teleconference: You are welcome to take part in a teleconference on the interim management statement that will be held today at 9:30 a.m. by CEO Peter Rothschild. To participate in the conference please see www.biogaia.com/agenda.

BioGaia has published this information in accordance with the Swedish Securities Market Act. The information was issued for publication on 6 May 2014, 8.00 a.m. CET.

This is a translation of Swedish version of the interim report. When in doubt, the Swedish wording prevails

Latest press releases from BioGaia:
2014-04-07 Notice to attend the Annual General Meeting of BioGaia AB
2014-03-26 Sale of shares in BioGaia AB
2014-03-17 New study shows that it is possible to prevent common infections in children

Attached documents