BioGaia AB Interim management statement 1 January – 31 March 2019
Comments from the CEO:
Sales during the first quarter increased by 9% (excluding foreign exchange effects, 2%) compared to the corresponding period last year. Sales of products, excluding royalty revenues, increased by 19% (excluding foreign exchange effects, 11%). Our largest product, BioGaia Protectis baby drops, increased in all markets and our Adult Health portfolio, with above all BioGaia Protectis tablets and BioGaia Prodentis lozenges, grew by 54% which is the result of focus on this target group. Sales in the Americas decreased by 9% which is a consequence of quarterly variations.
Costs increased by 28% for the core business (excluding the research-intensive subsidiaries BioGaia Pharma and MetaboGen) due to strategic investments to accelerate future growth. Including the subsidiaries, costs rose by 34%. The higher cost trend compared to the sales increase meant that operating profit decreased by 17% compared to the first quarter of 2018. Naturally, I do not see this as a lasting trend but rather a short-term effect of the change in our royalty agreement with Nestlé at the start of the year at the same time as we are making substantial investment in our operations,” says Isabelle Ducellier, President and CEO of BioGaia.
First quarter 2019
(Figures in parentheses and comparative figures in the text refer to the corresponding period of last year. The comparative figures in the balance sheet refer to 31 December 2018).
Net sales amounted to SEK 171.3 million (156.6), an increase of 9% (excluding foreign exchange effects, 2%).
Net sales in the Pediatrics segment amounted to SEK 133.6 million (131.7), an increase of 1%. Product sales, excluding royalty revenue, in Pediatrics segment amounted to SEK 128.1 million (114,5), an increase of 12%.
Net sales in the Adult Health segment amounted to SEK 37.6 million (24.4), an increase of 54%.
Operating profit amounted to SEK 46.4 million (56.2), a decrease of 17%.
Profit after tax was SEK 35.6 million (43.2), a decrease of 18%.
Earnings per share amounted to SEK 2.06 (2.49). No dilutive effects arose.
Cash flow amounted to SEK 29.3 million (39.8). Cash and cash equivalents at 31 March 2019 amounted to SEK 315.1 million (285.0).
Key events in the first quarter of 2019
A new vegan product, BioGaia Protectis capsules, launched in Finland.
Key events after the end of the first quarter
BioGaia launches BioGaia Osfortis – a new product for the prevention of osteoporosis.
Study showing that BioGaia’s probiotic decreases pain in patients with diverticulitis published.
Teleconference: Investors, analysts and the media are invited to take part in a teleconference on the interim management statement to be held today 8 May 2019 at 09:30 CET with CEO Isabelle Ducellier. To participate in the teleconference, please see https://www.biogaia.com/investors/financial-calendar for telephone numbers. The teleconference can also be followed at
This information is information that BioGaia AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the CEO, on 8 May 2019 at 08:00 CET.
This is a translation of the Swedish version of the interim management statement. When in doubt, the Swedish wording shall prevail
Latest press releases from BioGaia:
6 May 2019 BioGaia’s probiotic decreases pain in patients with diverticulitis
3 May 2019 BioGaia launches BioGaia Osfortis – a new product for the prevention of osteoporosis
5 April 2019 Notice to attend the Annual General Meeting of BioGaia AB (publ)