Biogaia Ab Class B · OMXSTO:BIOG_B
Biogaia Ab Class B — Q1 2024 Earnings Presentation
15 slides from Biogaia Ab Class B's earnings presentation, May 7, 2024
Slide 1: Interim Management Statement
Interim Management Statement Telephone Conference - 7th of May 2024 09:30 Theresa Agnew. CEO Alexander Kotsinas. CFO
Slide 2: Executive Summary Q1 2024
EXECUTIVE SUMMARY Q1 - 2024 • Sales were 370 MSEK (+1%) driven by sales growth in APAC and EMEA – despite record high sales in Q1 2023 • Sales in EMEA increased by 13%, in APAC with by 6% while Americas decreased with 14% • EBIT 143 MSEK (-3%) and EBIT margin 39% (40%)
Slide 3: Key Events & Launches
Key Events & Launches Distributor Country Product PediAct France BioGaia Prodentis Eczacibasi Turkey BioGaia Protectis tablets BioGaia Canada Canada BioGaia Aldermis BioGaia USA USA BioGaia Nurture & Grow BioGaia Prodentis tablets with new flavor MTC Pharma Vietnam (apple)
Slide 4: Sales per Segment
Sales per Segment Sales per Segment Q1 2024 • Total sales for the quarter increased by 1% (increase by 2% excluding currency effects) 1% 20% • Pediatrics sales decreased by 4% (decrease by 4% excluding currency effects) due to decreased sales in Americas, mainly in USA and Brazil • Adult sales incre
Slide 5: Sales per Region
Sales per Region Sales per Region Q1 2024 • EMEA: sales increased by 13% mainly in Spain, South Africa and the United Arab Emirates • APAC: sales increased by 6% mainly in Indonesia, Japan and Thailand 33% 44% • Americas: sales decreased by 14% mainly in Brazil, Mexico and USA. In USA sales were neg
Slide 6: Financials
Alexander Kotsinas, CFO Financials 6
Slide 7: Q1 Financials
Q1 Financials • Revenues were 370 (366) MSEK. +1% growth • EBIT was 143 (148) MSEK (-3%) • EBIT margin of 39% (40%) • Earnings per share were 1.21 (1.15) SEK • Operating cash flow at 52 (98) MSEK Net sales and EBIT margin (%) 400 60% MSEK 350 50% 300 40% 250 200 30% 150 20% 100 10% 50 0 0% Q1 Q2 Q3
Slide 8: Q1 Sales Bridge
Q1 Sales Bridge +1% MSEK Q1 Change 2024 366 Organic growth +8 +2% Currency -4 -1% 2024 370 +1% 8
Slide 9: Gross Margin per Segment
Gross Margin per Segment The gross margin was stable at 72% compared to 72% one year ago. The Pediatrics gross margin increased, and the Adult Health gross margin decreased mainly due to product mix changes. Q1 Q1 MSEK 2024 2023 Pediatrics 75% 73% Adult Health 57% 63% Total 72% 72% 9
Slide 10: Operating Expenses (OPEX)
Operating Expenses (OPEX) OPEX +7% • Sales costs increased due to increased activities related to sales and marketing • R&D costs increased mainly due to higher study expenses during the period • Admin costs increased mainly due to litigation fees in connection with the termination of the distributi
Slide 11: Profit and Loss Statement
Profit and Loss Statement • Sales +1% • OPEX +7% • EBIT -3% and EBIT Margin 39% Q1 Q1 MSEK 2024 2023 Change EBIT Bridge Q1 Sales 370 366 1% Gross profit 266 263 1% -5 - percentage of revenues 72% 72% OPEX -123 -115 7% EBIT 143 148 -3% - percentage of revenues 39% 40% Adjusted EBIT 148 150 -1% - perc
Slide 12: Cashflow
Cashflow • Cash Flow from Operating Activities decreased by 47% to 52 (98) MSEK mainly due to higher costs in working capital (increased receivables). • Cash Flow for the period at 41 (94) MSEK • Cash at the end of the period at 1,591 MSEK Q1 Q1 MSEK 2024 2023 Change Cash flow from operating activit
Slide 13: Concluding Remarks
Concluding Remarks • Despite record high sales in the same period last year, Q1 sales at +1% (+2% excluding currency effects) • EMEA back to growth with an increase of 13% due to better sales in several markets, including UK, Spain and UAE. • APAC continues its solid growth with +6% including market
Slide 14: Q&A
Q&A
Slide 15: BioGaia
BioGaia.