Weaker growth in US
During the third quarter, the development in the Americas region, which accounts for approximately 70% of Probi's net sales, has been lower than expected. Previously, Probi has informed that the order pattern of a few larger customers has changed, which will contribute to lower growth in 2022. These missing orders, together with an increased caution in the American market, are the main explanations for the negative development in the region.
According to the preliminary reporting, Probi's net sales in the third quarter are expected to amount to SEK 145 million, corresponding to a decrease of 9% (adjusted for currency effects -22%) compared to the corresponding quarter last year. The EBITDA margin in the third quarter is estimated to be 25%, which is just below the first six months of the year.
Probi's report for the third quarter of 2022 will be published on Friday 21 October at 08:00 a.m. CET. In connection with this, analysts, investors and the media are invited to an audio teleconference on the same day at 10:00 a.m. CET where CEO Tom Rönnlund and CFO Henrik Lundkvist present and comment on the report. The presentation and presentation material can be accessed via www.probi.com or https://tv.streamfabriken.com/probi-q3-2022
This information is information that Probi AB is obliged to make public according to the EU's Market Abuse Regulation. The information was submitted, through the care of the contact persons below, for publication on 10 October 2022 at 4.15 pm CET. This is a translation of the Swedish version of the press release. When in doubt, the Swedish wording prevails.
For further information, please contact:
Tom Rönnlund, CEO, Probi, Tel + 46 46 286 89 40, e-post: [email protected]
Henrik Lundkvist, CFO, Probi, Tel +46 46 286 89 41, e-post: [email protected]
ABOUT PROBI
Probi® is a global Group that focuses exclusively on research, manufacturing and delivery of probiotics in dietary supplements and food. The company has expertise in managing live bacteria from research through all stages of the manufacturing process and is dedicated to making the health-promoting benefits of probiotics available to people around the world. Since the company was founded in 1991 at Lund University in Sweden, Probi has expanded its operations to more than 40 markets and holds more than 400 patents worldwide. Probi had sales of SEK 658 m in 2021. Probi's shares are listed on Nasdaq Stockholm, Mid-cap, and there were around 3,800 shareholders on December 31, 2021.
