Message from the CEO
“Another highly satisfactory quarter. After three quarters each showing a steep rise in sales, the effect over 12 month figures is obviously positive – sales have risen by 40% over the past 12 months. Both the euro and dollar have become much stronger, but even after adjustment for foreign exchange effects, our sales growth amounts to 30%, which under any circumstances deserves to be considered as satisfactory. Developments on most markets remain positive, with the strongest performances being reported from South America, especially in Brazil where our drops and tablets have been very well received,” says Peter Rothschild, President of BioGaia AB.

Reporting period 1 January – 30 June 2015
(Figures in brackets refer to the corresponding period in the previous year. Balance sheet comparisons refer to the balance sheet figures as per 31 December 2014.) 

  • Net sales totalled SEK 272.9 (185.6)¹ million, an increase of SEK 87.3 million; this corresponds to a rise of 47%, or 34% after adjustment for foreign exchange effects.
  • Sales for the Paediatrics business unit totalled SEK 224.1 (143.1)¹ ² million, an increase of SEK 81.0 million; this corresponds to a rise of 57%, or 41% after adjustment for foreign exchange effects.
  • Sales for the Adult Health business unit totalled SEK 42.1 (36.2)² million, an increase of SEK 5.9 million; this corresponds to a rise of 16%, or 9% after adjustment for foreign exchange effects.
  • Operating profit was SEK 95.0 (53.3)¹ million, an increase of SEK 41.7 million; this corresponds to a rise of 78%, or 44% after adjustment for foreign exchange effects. If costs in the subsidiary Infant Bacterial Therapeutics (IBT) are excluded, operating profit for the period was SEK 104.7 (56.4) million, an increase of SEK 48.3 million (86%).
  • Profit after tax was SEK 78.9 (40.1)¹ million, an increase of SEK 38.8 million or 97%.
  • Earnings per share were SEK 4.57 (2.35)¹.
  • Cash flow for the period was SEK –8.8 (+4.3) million. Cash and cash equivalents on 30 June 2015 totalled SEK 202.8 (210.7) million.

Second quarter 2015

  • Net sales totalled SEK 134.0 (92.4) million, an increase of SEK 41.6 million; this corresponds to a rise of 45%, or 31% after adjustment for foreign exchange effects.
  • Sales for the Paediatrics business unit totalled SEK 108.8 (66.4)² million, an increase of SEK 42.4 million; this corresponds to a rise of 64%, or 46% after adjustment for foreign exchange effects.
  • Sales for the Adult Health business unit totalled SEK 22.3 (21.2)² million, an increase of SEK 1.1 million; this corresponds to a rise of 5%, or 0% after adjustment for foreign exchange effects.
  • Operating profit was SEK 42.4 (24.9) million, an increase of SEK 17.5 million; this corresponds to a rise of 70%, or 33% after adjustment for foreign exchange effects. If costs in the subsidiary IBT are excluded, operating profit for the period was SEK 48.4 (26.5) million, an increase of SEK 21.9 million (83%).
  • Profit after tax was SEK 35.7 (17.5) million, an increase of SEK 18.2 million or 104% Earnings per share were SEK 2.06 (1.03).

Important events in the second quarter of 2015

  • Publication of a Chinese study showing the efficacy of BioGaia’s drops on colic.
  • BioGaia investigates the possibility of a separate listing for its subsidiary Infant Bacterial Therapeutics AB.

Important events after the end of the second quarter of 2015

  • Publication of a study that shows that Prodentis reduces Candida in elderly patients.

1) Excluding licence revenue from Nestlé. If licence revenue from Nestlé is included, sales for the first half of 2014 totalled SEK 281.0 million, sales for the Paediatrics business unit totalled SEK 238,5 ² million, operating profit was SEK 148.7 million, profit after tax was SEK 114.5 million and earnings per share were SEK 6.66.

2) A minor reallocation has been done on prior year´s sales per segment to get more comparable figures with this year´s amount.

Telephone conference: You are invited to take part in a teleconference about this interim report that will be held at 09:30 a.m. today by CEO Peter Rothschild. To participate in the teleconference, please see www.biogaia.com/agenda.

BioGaia has published this information in accordance with the Swedish Securities Market Act. The information was released for publication at 08:00 a.m. on 18 August 2015. This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording shall prevail.

Attached documents