Significant events during the second quarter
- Net sales decreased by 12% (-3% adjusted for currency changes) to
SEK 158 m (180) in Q2 and decreased by 3% (+8% adjusted for currency changes) toSEK 329 m (338) in H1. - EBITDA margin was 25% (32%) in Q2 and 26% (26%) in H1.
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New partnership with
Oriflame and launch of product based on Probi Digestis®. - New long-term research collaboration focusing on vaginal health with the Estonian company Tervisetehnoloogiate Arenduskeskus AS.
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The number of shares and voting rights has been reduced by cancellation of the 250,000 company's treasury shares in accordance with the decision of the Annual General Meeting on
May 7, 2021 . The number of shares and votes inProbi amounts to 11,394,125.
Events after the end of the quarter
- Investment of around
NZD 9 m (aboutSEK 56 m) in newly issued shares inNew Zealand's Blis Technologies , corresponding to an ownership of 13%, in connection with a long-term strategic partnership.
CEO Comments
Another piece of the puzzle in place for a stronger
After a strong start to the year, the second quarter was not in line with our expectations. Currency-adjusted growth was -3% and nominal net sales decreased by 12% over the quarter. The EBITDA margin was 25%, which was lower than the unusually strong Q2 figure last year. It was mainly lower sales volumes that are behind Q2's lower EBITDA margin.
The
The positive trend continued in the EMEA region, which equaled its record level from Q1 and saw growth of 7% despite a strong quarter last year. The roll-out of Perrigo is going according to plan and contributed significantly to the performance in the region. We have also started an exciting collaboration with
In the APAC region, the trend is moving in the right direction. The stock accumulation at the customer level last year means that the comparative figures were tough in this quarter, but seen over the past three years, it was one of our strongest quarters in the region. It is particularly pleasing that we have signed a three-year agreement with a large Korean customer, which is expected to contribute with net sales of around
We continue to have considerable ambition to grow both organically and through acquisitions. After the end of the quarter, we made an investment in the
We are fully focused on achieving our long-term financial targets and will intensify our work with customers during the second half of the year as our sales teams are expected to be able to start traveling again. At the same time, many of the important agreements and strategic collaborations we have had in place during the first half of the year will not see visible results until 2022.
After a challenging year marked by the pandemic, we are beginning to see a return to normalization on several levels. We can meet our customers and consumers and can again shop at pharmacies and stores. The underlying demand for our products remains strong and we will of course benefit from this.
Tom Rönnlund
CEO
Invitation to teleconference
Contact
Tom Rönnlund, CEO, Tele: +46 (0)46 286 89 40, E-mail: trd@probi.com
This information is information that
https://news.cision.com/probi/r/q2-2021--probi-enters-new-strategic-partnerships,c3385807
https://mb.cision.com/Main/1556/3385807/1445521.pdf
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