Significant events during the first quarter
· Net sales rose by 14% (11% adjusted for currency changes) to
· The EBITDA margin was 19% (20%) and was negatively affected by a less favorable product mix but also increased costs in connection with a temporary disruption in production.
· Joint venture with
· Expanded cooperation with major American customer.
· Three new members added to the management team in HR, Sales and Marketing, and R&D.
CEO's comments
A solid start to 2020
The year has started off well for
During the quarter, we saw a clear increase in interest in our immune products in all markets with early and extended orders, which is probably an effect of the Covid-19 pandemic.
We have expanded our collaboration with one of our largest customers in the
In our strategic work to develop business in new niche markets, we have started a long-term collaboration with the US health food company
Production at our facilities in the US continues with only minor disruptions in the supply chain at present, despite the Covid-19 crisis. We have taken extensive safety measures to ensure production and minimize the risk of contagion. We have also ensured delivery capacity through subcontractors in the event that additional restrictions in the areas where we operate could affect our own production. The ongoing upgrade of the Redmond manufacturing unit is proceeding according to plan with only slight delays.
We have started strategic work to review our financial goals. The intention is to present these goals along with the quarterly report for Q2.
During the quarter we also welcomed three new members to our management team.
In these turbulent and troubling times, we are happy to see increased interest in our products and that our order book looks good for the near future. At the same time, it is too early to determine how persistent demand will be. Large orders at present may be signs of stocking at consumer level and we expect revenue to vary between quarters during the year. Assuming that the Covid-19 crisis is not further aggravated and that our employees are not affected, I can still dare to say that 2020 as a whole looks bright for
Tom Rönnlund, CEO
Invitation to teleconference
Date:
Time:
Phone: +46 (0)8 50 55 83 50
Participants from Probi:
Tom Rönnlund, CEO
The presentation is available at www.probi.com and www.financialhearings.com
Contact
Tom Rönnlund, CEO: Phone: +46 (0)46 286 89 40, E-mail: trd@probi.com
This information is information that
https://news.cision.com/probi/r/q1-2020--a-solid-start-to-the-year,c3095830
https://mb.cision.com/Main/1556/3095830/1235075.pdf
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