STOCKHOLM, Sweden--(BUSINESS WIRE)--Regultory News:
Managing Director’s comments:
“We cannot but feel happy and satisfied with the past year. Thanks to sales growth of 16% after exchange rate adjustments, we are now approaching sales of one half billion. According to our data, the total market for probiotic dietary supplements is expanding by around 8% annually, which means that we are winning market shares. Our operating profit reached SEK 152 million, resulting in an operating margin of over 31%. And this was achieved despite expenses of SEK 20.6 million for our subsidiary IBT. Without these expenses our operating margin would have been a full 36%,” says Peter Rothschild, Managing Director BioGaia.
Full year 2015 (Figures in brackets refer to the same period of last year.)
· Net sales amounted to SEK 483.2 million (386.4)¹, an increase of SEK 96.8 million (25%) (excluding foreign exchange effects, 16%).
· Net sales in the Paediatrics business area reached SEK 389.6 million (301.2)¹ ², an increase of SEK 88.4 million (29%) (excluding foreign exchange effects, 19%).
· Net sales in the Adult Health business area amounted to SEK 74.7 million (69.4), an increase of SEK 5.3 million (8%) (excluding foreign exchange effects, 2%).
· Operating profit was SEK 152.2 million (101.5)¹, an increase of SEK 50.7 million (50%) (excluding foreign exchange effects, 24%). Excluding expenses in the subsidiary Infant Bacterial Therapeutics (IBT), operating profit was SEK 172.8 (108.1)¹ million, an increase of SEK 64.7 million (60%).
· Profit after tax was SEK 121.3 million (73.6)¹, an increase of SEK 47.7 million (65%).
· Earnings per share totalled SEK 7.01 (4.23)¹.
· The period’s cash flow was SEK 15.1 million (-25.0). Cash and cash equivalents at 31 December 2015 amounted to SEK 226.9 million (210.7).
· The Board proposes that the upcoming Annual General Meeting on 10 May 2016 approve an ordinary dividend of SEK 3.03 per share and an extraordinary dividend of SEK 1.97 per share, for a total dividend of SEK 5.00 per share.
· The Board also proposes that the Extraordinary General Meeting on 18 March 2016 approve the distribution of the company’s shares in the subsidiary IBT to the shareholders in BioGaia in connection with application for listing of the shares on First North, corresponding to SEK 4.72 per share.
Fourth quarter 2015
· Net sales amounted to SEK 104.4 million (121.4), a decrease of SEK 17.0 million (-14%) (excluding foreign exchange effects, -16%).
· Net sales in the Paediatrics business area reached SEK 76.6 million (93.6)², a decrease of SEK 17.0 million (-18%) (excluding foreign exchange effects, -21%).
· Net sales in the Adult Health business area amounted to SEK 20.0 million (23.0)², a decrease of SEK 3.0 million (-13%) (excluding foreign exchange effects, -15%).
· Operating profit was SEK 27.5 million (30.6), a decrease of SEK 3.1 million (-10%) (excluding foreign exchange effects, -15%). Excluding expenses in the subsidiary IBT, operating profit was SEK 32.0 (32.9) million, a decrease of SEK 0.9 million (-3%).
· Profit after tax was SEK 21.7 million (19.1), an increase of SEK 2.6 million (14%).
· Earnings per share totalled SEK 1.26 (1.04).
· The period’s cash flow was SEK 7.1 million (-13.9).
Key events in the fourth quarter of 2015
· Study shows that BioGaia Protectis promotes growth of children and prevents recurrent diarrhoea.
· BioGaia appoints new Managing Director.
· BioGaia makes further investment in MetaboGen.
Key events after the end of 2015
· BioGaia’s subsidiary IBT has US IND open and Swedish CTA approved for clinical study.
· New meta-analysis confirms effectiveness of BioGaia Protectis for infant colic.
1) Excluding license revenue from Nestlé. Including license revenue from Nestlé, net sales for the period from 2014 amounted to SEK 481.8 million, net sales in the Paediatrics business area to SEK 396.6² million, operating profit to SEK 196.9 million, profit after tax to SEK 148.0 million and earnings per share to SEK 8.53.
2) A minor reallocation between segments was made in the previous year’s sales in order to achieve better comparability with the year’s figures.
Teleconference: You are welcome to take part in a teleconference on the interim report that will be held today at 9:30 a.m. by Managing Director Peter Rothschild. To participate in the teleconference Please see www.biogaia.com/agenda. Link to presentation: http://financialhearings.nu/160212/biogaia/
BioGaia has published this information in accordance with the Swedish Securities Act. The information was issued for publication on 12 February 2016, 8.00 a.m. This is a translation of the Swedish version of the interim report. When in doubt, the Swedish wording shall prevail.
BioGaia 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
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