Press Release Source: BioGaia AB On Tuesday October 25, 2011, 1:59 am EDT
BioGaia AB Interim report 1 January – 30 September 2011
(Figures in brackets refer to the same period of last year)
Interim period, 1 January – 30 September 2011
– Net sales reached SEK 232.6 million (173.3), an increase of SEK 59.3 million (34%). Excluding foreign exchange effects, the increase in net sales was 43%1).
– Operating profit was SEK 79.4 million (40.1)2), an improvement of SEK 39.3 million (98%). Excluding foreign exchange effects, operating profit rose by 121%1).
– Profit before tax was SEK 79.2 million (51.1) 2), an increase of SEK 281 million (55%). Net financial items include a foreign exchange effect of SEK -2.2 million (+10.5) arising from foreign exchange contracts in EUR.
– Profit after tax was SEK 57.8 million (34.3) 2), an improvement of SEK 23.5 million (69%).
– Earnings per share amounted to SEK 3.24 (1.99).
– Total cash flow was SEK 14.2 million (25.7). During the period BioGaia paid dividends of SEK 34.5 million and corporate tax of SEK 30.1 million (of which SEK 18.4 million refers to the financial year 2010). Cash and cash equivalents at 30 September 2011 totalled SEK 161.4 million (125.7).
Third quarter, 1 July – 30 September 2011
– Net sales reached SEK 73.1 million (48.9), an increase of SEK 24.2 million (49%). Excluding foreign exchange effects net sales were up by 53%1).
– Operating profit was SEK 22.1 million (8.6)2), an improvement of SEK 13.5 million (157%). Excluding foreign exchange effects, operating profit increased by 160%1).
– Profit before tax was SEK 21.4 million (12.9) 2), an increase of SEK 8.5 million (66%). Net financial items include a foreign exchange effect of SEK -1.5 million (+3.9) arising from foreign exchange contracts in EUR.
– Profit after tax was SEK 15.6 million (8.0) 2), an improvement of SEK 7.6 million (95%).
Key events in the third quarter of 2011
– Agreement for the sale of drops and tablets in Morocco.
– Agreement for the sale of tablets in the USA.
– Agreement for the sale of tablets in the Philippines.
Key events after the end of the third quarter
– Agreement for the sale of drops and tablets in Venezuela and Puerto Rico.
"We are extremely pleased to note continued excellent growth in sales for both of our product segments. Due to the summer holiday in Europe, the third quarter is normally our weakest period in terms of sales. Thanks to a few substantial orders from Nestl鬠however, the third quarter was unusually strong." says Peter Rothschild, President of BioGaia.
BioGaia is a biotechnology company that develops, markets and sells probiotic products with documented health benefits. The products are primarily based on the lactic acid bacterium Lactobacillus reuteri (Reuteri), which has probiotic, health-enhancing effects. The class B share of the Parent Company
BioGaia AB is quoted on the Small Cap list of the NASDAQ OMX Nordic Exchange Stockholm. www.biogaia.com
