THIRD QUARTER OF 2016
· NET SALES amounted to MSEK 89.2 (51.9).
· OPERATING PROFIT totalled MSEK 30.7 (16.3). Operating profit was charged
with acquisition costs of MSEK 4.2.
· PROFIT AFTER TAX amounted to MSEK 30.3 (13.1).
· PROFIT AFTER TAX PER SHARE was SEK 3.32 (1.44).
· CHANGE IN CASH AND CASH EQUIVALENTS amounted to MSEK 797,8 (21.5). Probi
paid dividends of MSEK 9.1 (7.7).
· NET SALES amounted to MSEK 249.5 (179.8).
· OPERATING PROFIT totalled MSEK 86.7 (59.4). Operating profit was charged
with acquisition costs of MSEK 11.7.
· PROFIT AFTER TAX amounted to MSEK 74.3 (46.3).
· PROFIT AFTER TAX PER SHARE was SEK 8.15 (5.08).
· CHANGE IN CASH AND CASH EQUIVALENTS amounted to MSEK 824.2 (34.8). Probi
paid dividends of MSEK 9.1 (7.7).
SIGNIFICANT EVENTS DURING THE THIRD QUARTER:
· Probi decided on a preference share issue and published the terms and
· New quarterly sales record
· Probi Digestis® lauched on the German market
SIGNIFICANT EVENTS AFTER THE CLOSE OF THE PERIOD:
· Probi completed the acquisition of Nutraceutix on 3 October
· Probi published the prospectus for its preference share issue on 4 October
CEO COMMENTS ON THE BUSINESS:
”We have taken a major step in the building of an important group within the
probiotics world by completing the acquisition of Nutraceutix. The combination
of both operations is highly complementary. Through the acquisition, Probi is
positioned in the top tear of integrated probiotic players, with enhanced size
and capacity. The manufacturing operations in the U.S. improves our position in
the value chain. The market position in North America is improving and the
opportunity for further growth globally is increasing considerably. In addition,
the acquisition will add important new technologies, manufacturing capabilities
and customers, and create a strong platform for further acquisitions in the
future. Plans for the integration work were completed in the third quarter and
implementation commenced immediately following transfer of the operation in an
excellent spirit of cooperation. The ongoing new share issue will secure
financing of the acquisition at a low level of risk exposure for the company.
During the quarter, regular operations performed to a high level of satisfaction
and we were able to note a new sales record for a single quarter of MSEK 89.2,
an increase of a whole 72% compared with the year-earlier period. The nine-month
period produced growth of 39% compared with the first nine months of 2015. The
earnings trend is also highly satisfactory, with an EBITDA of MSEK 91.8 for the
first three quarters, which is an EBITDA margin of nearly 37%. Excluding
acquisition and integration costs, the EBITDA margin1 was slightly more than
Probi has delivered its first order to the German market, where a new agreement
has been signed. This is a significant step into the largest market in Europe.”
INVITATION TO TELECONFERENCE:
Time: Tuesday, 18 October 2016 at 10.00 a.m. Telefonnummer: +46 8 56 64 26 91.
Participants from Probi: Peter Nählstedt, CEO and Niklas Brandt, CFO. The
presentation is available at www.probi.se and www.financialhearings.com
FOR FURTHER INFORMATION, PLEASE CONTACT:
Peter Nählstedt, CEO, Probi, tel: +46 (0)46-286 89 23 or +46 (0)723-86 99 83, e
This is a translation of the Swedish version of the interim report. When in
doubt, the Swedish wording prevails
This information is information that Probi AB is obliged to make public pursuant
to the EU Market Abuse Regulation. The information was submitted for
publication, through the agency of the contact person set out above, at 8:45 CET
on 18 October 2016.
 Definitions to key ratios not defined by IFRS on page 14
Probi AB is a Swedish publicly traded bioengineering company that develops
effective and well-documented probiotics. Through its world-leading research,
Probi has created a strong product portfolio in the gastrointestinal health and
immune system niches. Probi’s products are available to consumers in more than
30 countries worldwide. Probi’s customers are leading food, health-product and
pharmaceutical companies in the Functional Food and Consumer Healthcare
segments. In 2015 Probi had sales of MSEK 216. The Probi share is listed on
Nasdaq Stockholm, Small Cap. Probi has about 4,400 shareholders. Read more at
Last updated on: 18/10/2016