1 January - 31 March 2011
- Net sales reached SEK 69.9 million (58.6), an increase of SEK 11.3 million
(19%). Excluding foreign exchange effects, the increase was 31%1).
- Operating profit was SEK 23.4 million (14.1)2), an improvement of SEK 9.3
million (66%). Excluding foreign exchange effects, the increase was 99%1).
- Profit before tax was SEK 25.6 million (18.1) 2), an increase of SEK 7.5
million (41%).
- Profit after tax was SEK 18.5 (12.2) 2) million, an improvement of SEK 6.3
million (52%).
- Earnings per share amounted to SEK 1.04 (0.71).
- The period's cash flow from operating activities before changes in working
capital was SEK 8.8 million (14.7). Total cash flow for the period was SEK 1.9
million (14.7). Corporate tax of SEK 18.4 million pertaining to the financial
year 2010 was paid during the period. Cash and cash equivalents at 31 March
2011 amounted to SEK 148.5 million (112.3).
Key events in the first quarter of 2011
- BioGaia signs agreement with Cube Pharmaceuticals for the sale of its Oral
Rehydration Solution with Reuteri in Greece.
- BioGaia's 50%-owned company TwoPac invests in a new facility in Eslöv.
"It is highly satisfying that we have succeeded in keeping our fixed costs down
while at the same time achieving continued growth in sales, and are thus showing
increased profitability," says Peter Rothschild, President of BioGaia.
1) Most of the company's sales are denominated in EUR. With unchanged
exchange rates, net sales would have been SEK 6.8 million higher and operating
profit would have been SEK 4.7 million higher during the period.
2) The 50%-owned company TwoPac AB is consolidated as a group company with
effect from 1 January 2011. TwoPac was previously reported as an associated
company. If TwoPac had been consolidated in the previous year, operating profit
for the corresponding period of last year would have been SEK 14.5 million,
profit before tax would have been SEK 18.6 million and profit after tax would
have been SEK 12.6 million. Earnings per share would have been unchanged. See
also information on page 7.
BioGaia has published this information in accordance with the Swedish Securities
Market Act. The information was issued for publication on 10 May 2011, 8:00 a.m.
CET.
[HUG#1513949]
