Probi: Q3 2015 - New Food Product Launch in South Korea

LUND, Sweden--()--Regulatory News:

Probi (STO:PROB)

THIRD QUARTER OF 2015

• NET SALES amounted to MSEK 51.9 (37.1).

• OPERATING PROFIT totalled MSEK 16.3 (9.0).

• PROFIT AFTER TAX amounted to MSEK 13.1 (7.1).

• PROFIT AFTER TAX PER SHARE was SEK 1.44 (0.77).

• CASH FLOW amounted to MSEK 21.5 (3.3).

ACCUMULATED 2015

• NET SALES amounted to MSEK 179.8 (95.3).

• OPERATING PROFIT totalled MSEK 59.4 (20.5).

• PROFIT AFTER TAX amounted to MSEK 46.3 (16.4).

• PROFIT AFTER TAX PER SHARE was SEK 5.08 (1.80).

• CASH FLOW amounted to MSEK 34.8 (6.3).

SIGNIFICANT EVENTS DURING THE THIRD QUARTER:

• Peter Nählstedt, Probi’s CEO, appointed Chairman of the International Probiotics Association Europe (IPA Europe).

SIGNIFICANT EVENTS AFTER THE CLOSE OF THE PERIOD:

• Agreement signed with Seoul Dairy Cooperative, South Korea, to launch new Functional Food product.

CEO COMMENTS ON THE OPERATIONS AND FUTURE DEVELOPMENT:

“Net sales for the period up to including September this year amounted to MSEK 180, representing growth of 89%. Adjusted for currency effects, net sales amounted to MSEK 155, an increase of 62%. To date this year, deliveries to our major customers in North America, NBTY and Pharmavite, have been extensive, to ensure their supply capacity in conjunction with launches. We will see a temporary decline in these deliveries in the fourth quarter. We estimate net sales for the full-year 2015 to increase about 60% compared with 2014. We expect growth to continue in 2016. It is very gratifying that our efforts to identify new business solutions in the Functional Food business area resulted in a new agreement and an initial delivery. Our new business partner is the largest milk producer in South Korea, and the company will launch a dairy product containing our Lp299v® bacterium at the end of the year. We consider this launch of a food product containing Probi’s probiotics in a key and growing Asian market to be a significant strategic step,” says Peter Nählstedt, CEO of Probi.

INVITATION TO TELECONFERENCE (SWEDISH):

Time: Thursday, 22 October 2015 at 10.00 a.m. Tel: +46 (0)8 566 426 61 Participants from Probi: Peter Nählstedt, CEO and Niklas Brandt, CFO. The presentation is available at www.probi.se and www.financialhearings.com

This information is such that Probi AB is required to disclose in accordance with the Swedish Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 22 Oct 2015 at 8:45 a.m.

This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording prevails

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 2014, Probi had sales of MSEK 135. The Probi share is listed on NASDAQ OMX Stockholm, Small Cap. Probi has about 3,500 shareholders. Read more at www.probi.se.

This information was brought to you by Cision http://news.cision.com

Contacts

Probi
Peter Nählstedt, CEO
tel: +46 (0)46-286 89 23
or +46 (0)723-86 99 83
e-mail: peter.nahlstedt@probi.se
Niklas Brandt, CFO
tel: +46 (0)46-286 89 26 or +46 (0)706-62 98 83
e-mail: niklas.brandt@probi.se

Contacts

Probi
Peter Nählstedt, CEO
tel: +46 (0)46-286 89 23
or +46 (0)723-86 99 83
e-mail: peter.nahlstedt@probi.se
Niklas Brandt, CFO
tel: +46 (0)46-286 89 26 or +46 (0)706-62 98 83
e-mail: niklas.brandt@probi.se