THIRD QUARTER 2023
Figures in parentheses refer to the corresponding period last year, unless otherwise specified.
- Net sales amounted to
SEK 317.7 million (257.7), an increase ofSEK 60.0 million , or 23% (excluding foreign exchange effects, 17%). -
Net sales in the Paediatrics segment amounted to
SEK 255.8 million (205.7), a change of 24% (excluding foreign exchange effects an increase of 18%). -
Net sales in the
Adult Health segment amounted toSEK 59.2 million (50.5), an increase of 17% (excluding foreign exchange effects, an increase of 11%). -
Operating expenses amounted to
SEK 116.3 million (92.0), an increase ofSEK 24.3 million (26%). Operating expenses, excluding items affecting comparability, increased by 26% toSEK 116.3 million (92.0). -
Operating profit increased by 28% to
SEK 119.5 million (93.7), which corresponds to an operating margin of 38% (36%). -
Adjusted operating profit increased by 28% to
SEK 119.5 million (93.7), which corresponds to an adjusted operating margin of 38% (36%). -
Profit after tax amounted to
SEK 101.5 million (79.5), an increase of 28%. -
Earnings per share amounted to
SEK 1.01 (0.79) before and after dilution[1]. -
Cash flow amounted to
SEK 88.4 million (37.3). -
Cash and cash equivalents at
30 September 2023 amounted toSEK 1,452.5 million (1,402.4 at 30 September 2022).
Key events in the third quarter of 2023
5 July. A clinical study with Protectis was shown to increase SARS-CoV-2 antibody titres when 28 days or more had elapsed from vaccination.
2 August. BioGaia´s Board of Directors announced that
7 August. A paper written by a team of researchers from the
25 September.
JANUARY -
Figures in parentheses refer to the corresponding period last year, unless otherwise specified.
- Net sales amounted to
SEK 998.7 million (829.7), an increase ofSEK 169.1 million , or 20% (excluding foreign exchange effects, 13%). -
Net sales in the Paediatrics segment amounted to
SEK 793.5 million (661.0), an increase of 20% (excluding foreign exchange effects, 12%). -
Net sales in the
Adult Health segment amounted toSEK 198.8 million (165.5), an increase of 20% (excluding foreign exchange effects, an increase of 13%). -
Operating expenses amounted to
SEK 362.2 million (303.6), an increase ofSEK 58.6 million (19%). Operating expenses, excluding items affecting comparability, increased by 20% toSEK 361.1 million (300.3). -
Operating profit increased by 25% to
SEK 362.6 million (290.3), which corresponds to an operating margin of 36% (35%). -
Adjusted operating profit increased by 24% to
SEK 363.7 million (293.6), which corresponds to an adjusted operating margin of 36% (35%). -
Profit after tax amounted to
SEK 298.0 million (234.3), an increase of 27%. -
Earnings per share amounted to
SEK 2.95 (2.32) before and after dilution[1]. -
Cash flow amounted to
SEK -33.6 million (-101.8). Cash flow includes dividends ofSEK 292.8 million (301.3).
Key events after the end of the third quarter
16 October. BioGaia announced that results for the third quarter exceeded market expectations.
[1] Key ratio defined according to IFRS. For definitions of other key ratios, see page 16.
CEO's comments
When this strong financial report is published, I will have held the role as BioGaia's CEO for a month. In this short time, I have gained a positive feeling for the professionalism and passionate corporate culture that characterises the company - which is ultimately confirmed by this financial report.
During the quarter, we increased net sales by 23% compared to the corresponding quarter last year. Operating profit increased by 28% to
The Paediatric segment increased by 24% and the Adult segment increased by 17%. Despite the uncertain global outlook, high inflation, and weak economic development, we see resilience for our Protectis drops and our other products. During the quarter, we launched several products from our existing product portfolio in order to expand our market. For example, we launched Prodentis Kids on the Swedish market, a product that is already available on the US market and where we have seen growing demand for oral health products such as this.
During the quarter, we reached an important and exciting milestone in the development of next-generation probiotics. In an article published in the journal Nature, a team of researchers from BioGaia and the
BioGaia's continued double-digit growth demonstrates one of the company's strengths, and was one of the reasons why I accepted the role as CEO. With my background of leading life science and consumer health brands, I hope that I can contribute to BioGaia's continued success based on the company's existing strategy and future opportunities. It is exciting to lead a company where the focus is on sustainable growth through high-quality science, research and development. This will help us to achieve BioGaia's vision to become the most trusted probiotic brand in the world.
I look forward to continuing BioGaia's growth journey in the global context where more and more people are prioritising their own and their children's health.
President and CEO, BioGaia
You find the complete report with tables in the attached PDF or on https://www.biogaia.com/investors/financial-reports/
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About BioGaia
BioGaia is an innovative Swedish healthcare company that develops, markets, and sells probiotic products with documented health benefits. The products are sold through local distribution partners or via own distribution in over 100 markets. The class B share of the
This disclosure contains information that BioGaia is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person set out above, at
https://news.cision.com/biogaia/r/biogaia-ab--interim-report-third-quarter-january---september-2023,c3857376
https://mb.cision.com/Main/3271/3857376/2372572.pdf
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