BioGaia AB - Interim management statement 1 January – 31 March 2016
Comments from the Managing Director:
“Compared to the same period of last year, the first quarter of 2016 showed a varied palette of sales successes in Canada and the USA, modest development in Europe and declining sales in Asia and Rest of World. The highlights included the successful launch of our new Easy Dropper, which will eventually replace the glass bottles for our drops, and two meta-analyses that confirm the effectiveness of BioGaia ProTectis in colic and the effectiveness of BioGaia ProDentis in periodontitis. At the end of the period we distributed the shares in IBT to our shareholders, and since that time IBT is an independent company that is listed on Nasdaq First North,” says Axel Sjöblad, Managing Director of BioGaia AB.
Period from 1 January – 31 March 2016
(Figures in brackets refer to the same period of last year. The comparative figures in the balance sheet refer to 31 December 2015.)
- Net sales amounted to SEK 133.9 million (138.8), a decrease of SEK 4.9 million (4%).
- Net sales in the Paediatrics business area reached SEK 108.1 million (115.3)¹, a decrease of SEK 7.2 million (6%).
- Net sales in the Adult Health business area amounted to SEK 21.1 million (19.8), an increase of SEK 1.3 million (7%).
- Operating profit was SEK 46.1 million (52.6), a decrease of SEK 6.5 million (12%). Excluding expenses in the former subsidiary IBT, operating profit was SEK 51.3 million (56.3).
- Profit after tax was SEK 33.6 million (43.2), a decrease of SEK 9.6 million (22%).
- Earnings per share totalled SEK 1.95 (2.50).
- The period’s cash flow was SEK -4.8 million (37.8). Cash and cash equivalents at 31 March 2016 amounted to SEK 221.5 million (226.9). BioGaia’s former subsidiary IBT was distributed to BioGaia’s shareholders on 29 March 2016. Excluding IBT, the period’s cash flow was SEK 39.0 million.
Key events in the first quarter of 2016
- BioGaia distributed the shares in IBT on 29 March 2016 in accordance with the resolution of the extraordinary general meeting.
- New meta-analysis confirms the effectiveness of BioGaia ProTectis in colic.
- Meta-analysis confirms the effectiveness of BioGaia ProDentis in periodontal disease.
Key events after the end of the first quarter
- Agreement for the sale of BioGaia ProDentis in Hong Kong.
- BioGaia guarantees rights issue in IBT.
- Yet another meta-analysis confirms the effectiveness of BioGaia ProTectis in colic.
1) A minor reallocation between the 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 management statement that will be held today at 9:30 a.m. by Managing Director Axel Sjöblad. To participate in the teleconference please see www.biogaia.com/agenda. You can also follow the presentation at http://financialhearings.nu/?160510/biogaia.
BioGaia has published this information in accordance with the Swedish Securities Act. The information was issued for publication on 10 May 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.
Latest press releases from BioGaia:
2016-05-02 Yet another meta-analysis confirms the effectiveness of BioGaia’s probiotic in infantile colic
2016-04-27 BioGaia guarantees rights issue in IBT
2016-04-27 IBT’s results for the first quarter of 2016