Interim Report January – June 2020
Second quarter 2020
- Net sales amounted to SEK 244.7 million (222.3), an increase of 10% (excluding foreign exchange effects, 8%). Product sales, net sales excluding royalty revenues, amounted to SEK 238.2 million (218.4), an increase of 9% (excluding foreign exchange effects, 7%).
- Net sales in the Paediatrics segment reached SEK 199.2 million (181.1), an increase of 10%.
- Net sales in the Adult Health segment amounted to SEK 44.4 million (40.9), an increase of 8%.
- Operating expenses amounted to SEK 84.2 million (84.9), a decrease of 1%.
- Operating profit increased by 28% to SEK 100.2 million (78.5), which corresponds to an operating margin of 41% (35%)
- Profit after tax was SEK 79.0 million (61.1), an increase of 29%.
- Earnings per share amounted to SEK 4.56 (3.52). No dilutive effects arose.
- Cash flow amounted to SEK -38.7 million (-155.7).
- Cash and cash equivalents at 30 June 2020 amounted to SEK 242.5 million (160.1).
Key events in the second quarter of 2020
On 6 May, BioGaia announced that the company’s Swedish partner Medhouse has launched BioGaia Protectis capsules. The capsules will initially be available through the Swedish online pharmacy Meds.se.
First half 2020
- Net sales amounted to SEK 427.5 million (393,6), an increase of 9% (excluding foreign exchange effects, 6%). Product sales, net sales excluding royalty revenues, amounted to SEK 415.1 million (382.9), an increase of 8% (excluding foreign exchange effects, 6%).
- Net sales in the Paediatrics segment reached SEK 341.6 million (314.7), an increase of 9%.
- Net sales in the Adult Health segment amounted to SEK 84.5 million (78.6), an increase of 8%.
- Operating expenses amounted to SEK 161.6 million (162.9), a decrease of 1%.
- Operating profit increased by 25% to SEK 155.9 million (125.0) which corresponds to an operating margin of 36% (32%).
- Profit after tax was SEK 120.8 million (96.7), an increase of 25%.
- Earnings per share amounted to SEK 6.97 (5.58). No dilutive effects arose.
- Cash flow amounted to SEK 28.7 million (-126.5).
Key events after the end of the second quarter
No key events that are not mentioned in this interim report took place after the end of the six-month period.
The second quarter of 2020 was also marked by the Covid-19 pandemic. We continued our efforts to protect our employees and our business from possible negative consequences. We have maintained restrictions on travel and face-to-face meetings and employees who are able to work from home have done so. Like so many other companies we have gone over to digital meetings with both internal and external participants. In the spring, together with our partners we have arranged a large number of webinars throughout the world where researchers have presented various topics for thousands of healthcare professionals. At the end of June, we also arranged our very first own webinar, a scientific discussion chaired by BioGaia’s chief scientific officer, which attracted doctors primarily from Europe and North and South America.
Regardless of how the Covid-19 pandemic develops in the future, the situation will require us to continually adapt during the year to counteract the challenges it entails. We are convinced that our products fulfil a key function particularly in these times and we are doing everything we can to ensure that possible negative effects of the pandemic on our business remain limited.
For more information and the entire CEO comment, see attached interim management statement.
Investors, analysts and the media are invited to take part in a teleconference on the interim report to be held today 13 August 2020 at 09:30 CET with CEO Isabelle Ducellier and CFO Alexander Kotsinas. To participate in theteleconference, please see Financialhearings.com for telephone numbers. The teleconference can also be followed here.
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 13 August 2020, at 08.00 CET