Probi Announces Acquisition of Nutraceutix Completed and a New Quarterly Sales Record

- October 18th, 2016

”We have taken a major step in the building of an important group within the probiotics world by completing the acquisition of Nutraceutix,” says Probi’s CEO.

Probi (STO:PROB) announces the following:
THIRD QUARTER OF 2016
· NET SALES amounted to MSEK 89.2 (51.9).
· OPERATING PROFIT[1] totalled MSEK 30.7 (16.3). Operating profit was
charged with acquisition costs of MSEK 4.2.
· PROFIT AFTER TAX amounted to MSEK 30.3 (13.1).
· PROFIT AFTER TAX PER SHARE was SEK 3.32 (1.44).
· CHANGE IN CASH AND CASH EQUIVALENTS amounted to MSEK 797,8 (21.5).
Probi paid dividends of MSEK 9.1 (7.7).
ACCUMULATED 2016
· NET SALES amounted to MSEK 249.5 (179.8).
· OPERATING PROFIT[1] totalled MSEK 86.7 (59.4). Operating profit was
charged with acquisition costs of MSEK 11.7.
· PROFIT AFTER TAX amounted to MSEK 74.3 (46.3).
· PROFIT AFTER TAX PER SHARE was SEK 8.15 (5.08).
· CHANGE IN CASH AND CASH EQUIVALENTS amounted to MSEK 824.2 (34.8).
Probi paid dividends of MSEK 9.1 (7.7).
SIGNIFICANT EVENTS DURING THE THIRD QUARTER:
· Probi decided on a preference share issue and published the terms and
conditions
· New quarterly sales record
· Probi Digestis® lauched on the German market
SIGNIFICANT EVENTS AFTER THE CLOSE OF THE PERIOD:
· Probi completed the acquisition of Nutraceutix on 3 October
· Probi published the prospectus for its preference share issue on 4
October
CEO COMMENTS ON THE BUSINESS:
”We have taken a major step in the building of an important group within
the probiotics world by completing the acquisition of Nutraceutix. The
combination of both operations is highly complementary. Through the
acquisition, Probi is positioned in the top tear of integrated probiotic
players, with enhanced size and capacity. The manufacturing operations
in the U.S. improves our position in the value chain. The market
position in North America is improving and the opportunity for further
growth globally is increasing considerably. In addition, the acquisition
will add important new technologies, manufacturing capabilities and
customers, and create a strong platform for further acquisitions in the
future. Plans for the integration work were completed in the third
quarter and implementation commenced immediately following transfer of
the operation in an excellent spirit of cooperation. The ongoing new
share issue will secure financing of the acquisition at a low level of
risk exposure for the company.
During the quarter, regular operations performed to a high level of
satisfaction and we were able to note a new sales record for a single
quarter of MSEK 89.2, an increase of a whole 72% compared with the
year-earlier period. The nine-month period produced growth of 39%
compared with the first nine months of 2015. The earnings trend is also
highly satisfactory, with an EBITDA of MSEK 91.8 for the first three
quarters, which is an EBITDA margin of nearly 37%. Excluding acquisition
and integration costs, the EBITDA margin1 was slightly more than 42%.
Probi has delivered its first order to the German market, where a new
agreement has been signed. This is a significant step into the largest
market in Europe.”
INVITATION TO TELECONFERENCE:
Time: Tuesday, 18 October 2016 at 10.00 a.m.
Telefonnummer: +46 8 56 64 26 91.
Participants from Probi: Peter Nählstedt, CEO and Niklas Brandt, CFO.
The presentation is available at www.probi.se
and www.financialhearings.com
This is a translation of the Swedish version of the interim report. When
in doubt, the Swedish wording prevails
This information is information that Probi AB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person set
out above, at 8:45 CET on 18 October 2016.
[1] Definitions to key ratios not defined by IFRS on page 14
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 2015 Probi
had sales of MSEK 216. The Probi share is listed on Nasdaq Stockholm,
Small Cap. Probi has about 4,400 shareholders. Read more at www.probi.se.
This information was brought to you by Cision http://news.cision.com

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