STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
Comments from the Managing Director:
“Third quarter sales were driven by strong growth in Asia and Europe, where the launch of EasyDropper is continuing. Net sales for the first nine months reached SEK 395.9 million. It is highly gratifying that we have now passed the level for 2015, in spite of the major inventory build-up in Brazil last year. Promising is also the trend in Business Unit Adult Health, which has shown growth for two consecutive quarters. I would also like to mention that the clinical study on reduction of pregnancy gingivitis, which we have previously reported on, has been very well received by our partners, and it is very satisfying that we have signed a sales agreement in Western and Eastern Africa”, says Axel Sjöblad, Managing Director of BioGaia AB.
Period from 1 January – 30 September 2016
(Figures in brackets refer to the same period of last year. The comparative figures in the balance sheet refer to 31 December 2015)
Net sales amounted to SEK 395.9 million (378.9), an increase of SEK 17.0 million (4%). (No material foreign exchange effects arose.)
Net sales in Business Unit Paediatrics reached SEK 313.8 million (313.0), an increase of SEK 0.8 million (0 %). (No material foreign exchange effects arose.)
Net sales in Business Unit Adult Health amounted to SEK 69.4 million (54.6), an increase of SEK 14.8 million (27%) (excluding foreign exchange effects, 24%).
Operating profit excluding the distributed former subsidiary IBT was SEK 153.1 million (140.8), an increase of SEK 12.3 million (9%). Including IBT, operating profit was SEK 147.9 million (124.7). (No material foreign exchange effects arose.)
Profit after tax excluding IBT was SEK 112.4 million (112.2), an increase of SEK 0.2 million (0%).
Earnings per share from continuing operations totalled SEK 6.48 (6.49). Earnings per share including discontinued operations totalled SEK 10.42 (5.76).
The period’s cash flow was SEK -27.6 million (8.0). Cash and cash equivalents at 30 September 2016 amounted to SEK 201.6 million (226.9). Cash flow includes the distribution of the subsidiary IBT, which had a negative impact on cash flow of SEK 37.6 million.
Third quarter 2016
Net sales amounted to SEK 126.0 million (106.0), an increase of SEK 20.0 million (19%) (excluding foreign exchange effects, 17%).
Net sales in Business Unit Paediatrics reached SEK 99.0 million (88,9), an increase of SEK 10.1 million (11%) (no material foreign exchange effects arose).
Net sales in Business Unit Adult Health amounted to SEK 22.6 million (12.6), an increase of SEK 10.0 million (79%) (excluding foreign exchange effects, 70%).
Operating profit excluding IBT was SEK 48.4 million (36.2), an increase of SEK 12.2 million (34 %). Including IBT, operating profit was SEK 48.4 million (29.7). (No material foreign exchange effects arose.)
Profit after tax excluding IBT was SEK 35.1 million (25.7), an increase of SEK 9.4 million (37%). Including IBT, profit after tax was SEK 35.1 million (20.7).
Earnings per share excluding IBT totalled SEK 2.02 (1.49). Earnings per share including IBT totalled SEK 2.02 (1.19).
Key events in the third quarter of 2016
Publication of study showing that BioGaia ProDentis reduces pregnancy gingivitis.
Agreement for the sale of drops, tablets and oral rehydration solution in Kenya, Nigeria and Ghana.
Teleconference: You are welcome to take part in a teleconference on the interim management statement that will be held today 25 October at 8:45 a.m. by Managing Director Axel Sjöblad. To participate in the teleconference call please see www.biogaia.com/agenda for telephone numbers. The teleconference can also be followed at https://wonderland.videosync.fi/biogaia-q3-report .
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 agency of the contact person set out above, at 25 October 2016, 8:00 a.m. CET.
This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording shall prevail.
BioGaia AB Box 3242, SE-103 64 STOCKHOLM
Street address: Kungsbroplan 3A, Stockholm
Telephone: 46 8-555 293 00, Corp. Identity no. 556380-8723 www.biogaia.com
BioGaia (STO:BIOGB) is a healthcare company that develops, markets and sells probiotic products with documented health benefits. The products are primarily based on the lactic acid bacterium Lactobacillus reuteri which has probiotic, health- enhancing effects. The class B share of the Parent Company BioGaia AB is quoted on the Mid Cap list of the Nasdaq OMX Nordic Exchange Stockholm. www.biogaia.com .
BioGaia AB Box 3242. SE-103 64 STOCKHOLM Street address: Kungsbroplan 3A, Stockholm Telephone: +46 8 555 293 00, Corp. identity no. 556380-8723. www.biogaia.com .
This information was brought to you by Cision http://news.cision.com
For additional information contact:
Axel Sjöblad, Managing Director
telephone 46 8-555 293 00
Margareta Hagman, Executive Vice President
telephone 46 8-555 293 00
Last updated on: 26/10/2016
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