BioGaia 2013 net sales up 9%

BioGaia 2013 net sales up 9%

Company looks forward to interesting launches in markets such as Brazil and building sales in the United States.

President’s comments: “In 2013 the sales focus for new contracts was on the BRIC countries, and it is encouraging to see that we have made real progress in nearly all of these markets. The year 2014 will be very exciting as we look forward to interesting launches in markets like Brazil. We should also have a good possibility to build up our sales in the United States, a market we still assess to have great potential,” says Peter Rothschild, president of BioGaia.

Full year 2013 (Figures in brackets refer to the same period of last year)

  • Net sales reached SEK 315.9 million (289.2¹), an increase of SEK 26.7 million (9 percent). Excluding foreign exchange effects, net sales improved by 12 percent.
  • Net sales of finished consumer products amounted to SEK 256.2 million (237.6), representing growth of SEK 18.6 million (8 percent). Excluding foreign exchange effects, net sales improved by 11 percent.
  • Net sales of component products amounted to SEK 58.6 million (50.6¹), an increase of SEK 8.0 million (16 percent). Excluding foreign exchange effects, net sales rose by 17 percent.
  • Operating profit was SEK 81.7 million (72.1¹), an improvement of 9.6 million (13 percent). Excluding foreign exchange effects, operating profit rose by 16 percent.
  • Profit after tax was SEK 64.2 million (63.7¹), an increase of SEK 0.5 million (1 percent). Net financial items include a foreign exchange loss of SEK 2.9 million on forward exchange contracts in EUR. Profit for the previous year included a corresponding foreign exchange gain of SEK 5.7 million.
  • Earnings per share totalled SEK 3.57 (3.52¹).
  • The period’s total cash flow was SEK -140.8 million (203.8). Last year’s cash flow included payment of SEK 356.0 million in licence revenue from Nestlé. Cash and cash equivalents at 31 December 2013 totalled SEK 234.3 million (375.0).
  • The Board proposes to the upcoming AGM an ordinary dividend of SEK 3.35 and an extraordinary dividend of SEK 3.65, for a total dividend of SEK 7.00 per share.

Fourth quarter 2013

  • Net sales amounted to SEK 90.2 million (72.4), up by SEK 17.8 million, (25 percent). Excluding foreign exchange effects, net sales increased by 26 percent.
  • Net sales of finished consumer products totalled SEK 75.1 million (65.6), an improvement of SEK 9.5 million (14 percent). Excluding foreign exchange effects, net sales were up by 16 percent.
  • Net sales of component products amounted to SEK 15.0 million (6,8), an increase of SEK 8.2 million (121 percent). Excluding foreign exchange effects, net sales grew by 118 percent.
  • Operating profit was SEK 23.8 million (13.1), an increase of SEK 10.7 million (82 percent). Excluding foreign exchange effects, net sales improved by 80 percent.
  • Profit after tax was SEK 16.3 million (15.8), an increase of SEK 0.5 million (3 percent). In the fourth quarter of last year, provisions were made to untaxed reserves, leading to a positive tax effect of SEK 2.3 million.

Key events in fourth quarter 2013

  • Decision to invest in development of drug against NEC
  • New agreement for the sale of drops and tablets in Brazil
  • Two new studies on BioGaia Gastrus published
  • BioGaia expands network in the oral health area
  • Meta-analysis regarding L. reuteri Protectis and colic

Key events after the end of fourth quarter

  • Publication of study showing that colic can be prevented
  • No significant differences in BioGaia’s diabetes study

 

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