Comments from the Managing Director:
“Sales in the second quarter of 2017 reached SEK 156 million, which is an increase of 15% compared to the same period of last year. The strong second quarter, when sales to our important market Brazil gained new momentum, meant that for the first six months we achieved sales of SEK 297 million, a gross margin of 75% and an operating profit of SEK 115 million. We are on the right track and continue with the implementation of our strategic initiatives. I am also very pleased that in the quarter we established the subsidiary BioGaia Pharma AB to take advantage of the opportunities to develop drugs identified in the R&D activities conducted as part of our core business,” says Axel Sjöblad, Managing Director of BioGaia AB.
Second quarter 2017
(The figures in brackets and comparative figures in the text refer to the same period of last year. The comparative figures in the balance sheet refer to 31 December 2016.)
- Net sales amounted to SEK 156.0 million (136.0), an increase of 15% (excluding foreign exchange effects, 10%).
- Net sales in the Pediatrics segment reached SEK 132.1 million (106.7), an increase of 24%.
- Net sales in the Adult Health segment amounted to SEK 23.0 million (25.7), a decrease of 11%.
- Operating profit was SEK 59.7 million (53.4), an increase of 12%.
- Profit after tax was SEK 47.2 million (38.6), an increase of 22%.
- Earnings per share totalled SEK 2.72 (2.22). No dilutive effects arose during the period.
- The period’s cash flow was SEK -117.3 million (-75.0).
Key events in the second quarter of 2017
- BioGaia’s oral health probiotic to be launched in three new markets.
- BioGaia sets up subsidiary for the development of probiotic drugs.
1 January – 30 June 2017
- Net sales amounted to SEK 297.2 million (269.9), an increase of 10% (excluding foreign exchange effects, 6%).
- Net sales in the Pediatrics segment reached SEK 242.8 million (214.8), an increase of 13%.
- Net sales in the Adult Health segment amounted to SEK 49.5 million (46.8), an increase of 6%.
- Operating profit was SEK 115.5 million (104.7) ¹, an increase of 10%.
- Profit after tax was SEK 90.1 million (77.3) ¹, an increase of 17%.
- Earnings per share totalled SEK 5.20 (4.46) ¹. No dilutive effects arose during the period.
- The period’s cash flow was SEK -39.8 million (-35.4) ¹. Cash and cash equivalents at 30 June 2017 amounted to SEK 202.6 million (243.1).
1) Excluding the former subsidiary Infant Bacterial Therapeutics (IBT) AB, which was distributed to the shareholders in March 2016.
Teleconference: Investors, analysts and the media are invited to a teleconference 18 August 2017, at 9:30 a.m. CET. The presentation will be held by Managing Director Axel Sjöblad. To participate in the teleconference, please see telephone numbers at www.biogaia.com/investors/agenda/. The teleconference can also be followed at https://tv.streamfabriken.com/biogaia-q2-2017.
This information is information that BioGaia AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 18 August 2017 kl 8:00 a.m. CET.