Probi notches 32% growth in 2014

Probi notches 32% growth in 2014

Probi's sales more than doubled in the U.S. as result of partnerships with Pharmavite and NBTY. 

Fourth quarter of 2014:

  • Net sales amounted to MSEK 39.9 (26.2).
  • Operating profit totaled MSEK 6.6 (3.1).
  • Profit after tax amounted to MSEK 5.4 (2.6).
  • Profit after tax per share was SEK 0.59 (0.29).
  • Cash flow amounted to MSEK 10.6 (neg: 0.1).

Accumulated 2014:

  • Net sales amounted to MSEK 135.2 (102.2).
  • Operating profit totaled MSEK 27.0 (18.1).
  • Profit after tax amounted to MSEK 21.8 (15.0).
  • Profit after tax per share was SEK 2.39 (1.65).
  • Cash flow amounted to MSEK 16.9 (4.0). Probi paid dividends of MSEK 6.8 (6.8).

Significant events during the fourth quarter:

  • Probi signed a distribution agreement with Laboratório Daudt for the launch of Probi Digestis® in Brazil.
  • Capitalized development expenditure of MSEK 3.7 was discarded due to the bankruptcy of a contracted research company.

Significant events after the close of the period:

  • Probi secured a record order valued at MSEK 17 from U.S. company NBTY
  • The Board of Directors proposes a total dividend of MSEK 7.7 (6.8), corresponding to SEK 0.85 (0.75) per share.

CEO’s comments:
“In 2014, Probi’s sales more than doubled in the U.S. and amounted to MSEK 44, a result of our partnerships with Pharmavite and NBTY. Combined with our launch in South Korea, this led to sharp growth. Net sales rose 32 percent to MSEK 135. In the fourth quarter net sales rose 52 percent to MSEK 40. We have grown with increased profitability. The operating margin increased from just under 18 percent in 2013 to 20 percent. Our clinical trials have also been successful. We now have the documentation required to launch a product in 2015 that increases the body’s ability to absorb iron. To meet the strong global demand for our products, we are now increasing our resources in both Consumer Healthcare and Functional Food. We are recruiting more employees to our sales and marketing organization and will also strengthen other functions during the year. We estimate the prospects for continued positive growth in 2015 as favorable. The year started well with a record order of MSEK 17 from US company NBTY.” says Peter Nählstedt, CEO for Probi.

 

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