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Read the recap of the probiotics company's dynamic year.
January 23, 2014
2 Min Read
Fourth quarter 2013
Net sales amounted to MSEK 26.2 (26.2).
Operating profit totaled MSEK 3.1 (2.6).
Profit after tax amounted to MSEK 2.6 (2.1).
Profit after tax per share was SEK 0.29 (0.24).
Cash flow amounted to a negative MSEK 0.1 (pos: 1.2)
Full year 2013
Net sales amounted to MSEK 102.2 (99.6).
Operating profit totaled MSEK 18.1 (17.2).
Profit after tax amounted to MSEK 15.0 (13.5).
Profit after tax per share was SEK 1.65 (1.48).
Cash flow amounted to MSEK 4.0 (11.1). Probi paid dividends of MSEK 6.8 (6.8).
Information for comparative purposes:
The comparative figures for the year-earlier period are impacted by two contractual changes, which totaled MSEK 7.0, pertaining to NextFoods and Danone. Adjusted for these changes net sales increased MSEK 9.6, from MSEK 92.6 to MSEK 102.2, and operating profit increased MSEK 7.9, from MSEK 10.2 to MSEK 18.1.
Significant events during the fourth quarter:
Probi recruited Peter Nählstedt as the company’s new CEO, and he assumed his new position on Jan. 7, 2014.
Probi’s bacterial diversity patent for Lactobacillus plantarum 299v was approved by patent authorities in both the US and Europe.
Significant events after the close of the period:
Symrise has increased its shareholding in Probi to more than 30 percent, thus requiring Symrise to make a mandatory offer to acquire all of Probi’s shares.
The Board of Directors proposes a total dividend of MSEK 6.8 (6.8), corresponding to SEK 0.75 (0.75) per share.
CEO’S comments:
“During the year, net sales in Consumer Healthcare rose 24 percent to slightly more than MSEK 60, which is very gratifying in view of our investment in this business area. Growth was largely driven by a positive trend in our key North American market. Overall, this increase offset the decline in Functional Food, where lower royalty revenue was mainly due to contractual changes. Adjusted for the effect of these changes, our operating profit improved MSEK 7.9 compared with 2012. We also signed new agreements in Asia and Eastern Europe during the year, and a number of new distributors were added in North America who will conduct launches during the first six months of 2014. These markets have been prioritised to enable continued growth. Probi is therefore well positioned for continued positive growth through international expansion during 2014,” says Peter Nählstedt, CEO of Probi.
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