THIRD QUARTER OF 2016
· NET SALES amounted to MSEK 89.2 (51.9).
·
OPERATING PROFIT[1] 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).
ACCUMULATED 2016
· NET SALES amounted to MSEK
249.5 (179.8).
· OPERATING PROFIT[1] 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
conditions
· 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
42%.
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
-mail: peter.nahlstedt@probi.se
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.
[1] Definitions to key ratios not defined by IFRS on page
14
ABOUT PROBI
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
www.probi.se.