Important events during the second quarter
- Net sales increased by 10% (-1% adjusted for currency effects) to
SEK 175 m (158) in Q2 and amounted toSEK 329 m (329) for H1, which was on a par with previous year (-9% adjusted for currency effects). - The EBITDA margin was 26% (25) in Q2 and 26% (26) in H1.
- Stable performance in all regions, strongest quarter since 2020 in APAC.
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Increased investments in sales activities and build-up of sales organization in region
Americas . - New skincare product based on by-product from production process, contributes to reduced environmental costs and environmental impact.
CEO Comments
We continue to invest in future growth
Growth in Q2 amounted to 10% driven by favorable exchange rates. Adjusted for currency effects, our sales were approximately on a par with the previous year. As
Our EBITDA margin was 26%, which was slightly lower than our financial target. During this year, we have actively invested in developing our product pipeline and expanded our sales organization in the
Sales in region
In the EMEA region, sales were on a par with the previous year, but adjusted for milestone-related revenue in 2021, the growth in the quarter was 10%. During Q2, many of our customers in the region saw positive demand increases, largely driven by more normal market conditions following the easing of Covid restrictions.
The APAC region had its strongest quarter since Q2 2020, which was significantly affected by stockpiling in connection with the pandemic. Sinopharm's rollout is underway, and the third ClinBac™ concept, Probi Ferrosorb®, will be launched during the autumn. Covid-related restrictions in
We are nearing the end of our upgrading of the manufacturing facility in Redmond. It is an important part of our strategy to significantly increase our own production capacity of scientifically documented bacterial strains and also to reduce our vulnerability in the production chain.
During the quarter, we delivered the first batches of SymFerment®, which is an exciting product development in collaboration with
We are currently experiencing a positive post-pandemic development in EMEA and APAC, but these regions are still relatively small compared to our US market. The growth is currently lower in region
With a competitive product portfolio and with our upgraded manufacturing facility together with a strong balance sheet, we have a good position for achieving future growth. 2022 will not be a strong year of growth for us, but I see exciting things on the horizon and feel very confident that we will return to growth in 2023.
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/q2-2022--solid-quarter-with-exchange-rate-fueled-growth,c3601625
https://mb.cision.com/Main/1556/3601625/1604603.pdf
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