BioGaia Reports Strong Rise in Pre-Tax Profits

Date:10 Feb 2012

Type:Nutrition & Health News

Source:Nutrition Horizon

Sector:Functional & Fortified Foods, Nutrition

Summary:Profit before tax was SEK 108.9 million (69.7), an increase of SEK 39.2 million (56%). Net financial items include a foreign exchange gain of SEK 2.5 million (12.4) arising from foreign exchange contracts in EUR.

Feb 10 2012 --- BioGaia has reported that net sales reached SEK 315.0 million (EUR35.7) (236.0) in 2011, an increase of SEK 79.0 million (33%). Excluding foreign exchange effects, net sales grew by 40%.

Operating profit was SEK 103.2 million (56.3), an improvement of SEK 46.9 million (83%). Excluding foreign exchange effects, operating profit rose by 101%.

Profit before tax was SEK 108.9 million (69.7), an increase of SEK 39.2 million (56%). Net financial items include a foreign exchange gain of SEK 2.5 million (12.4) arising from foreign exchange contracts in EUR.

Profit after tax was SEK 79.5 million (47.2), an improvement of SEK 32.3 million (68%).

Earnings per share amounted to SEK 4.42 (2.74).

The period's total cash flow was SEK 24.7 million (47.5). During the year BioGaia paid dividends of SEK 34.5 million (25.8) and corporate tax of SEK 35.8 million (0), of which SEK 18.4 million refers to the 2010 financial year. Cash and cash equivalents at 31 December 2011 totalled SEK 171.5 million (146.9).

The Board proposes that the upcoming AGM approve an ordinary dividend of SEK 1.26 and an extraordinary dividend of SEK 2.74, equal to a total dividend of SEK 4.00 per share.

Net sales reached SEK 82.4 million (62.8) in Q4, an increase of SEK 19.6 million (31%). Excluding foreign exchange effects, net sales grew by 32%.

Operating profit was SEK 23.8 million (16.2), an improvement of SEK 7.6 million (47%). Excluding foreign exchange effects, operating profit rose by 51%.

Profit before tax was SEK 29.6 million (18.6), an increase of SEK 11.0 million (59%). Net financial items include a foreign exchange gain of SEK 4.8 million (1.9) arising from foreign exchange contracts in EUR.

Profit after tax was SEK 21.8 million (12.9) , an improvement of SEK 8.9 million (69%).

"Last year was yet another year of strong growth in sales. This applies both to finished products, in all markets, and our component products in Europe and Asia. It is also encouraging to see that our focused efforts in Japan and the USA have yielded results that we now continue to build on," says Peter Rothschild, President of BioGaia.