Biogaia Ab Class B · OMXSTO:BIOG_B
Biogaia Ab Class B — Q3 2024 Earnings Presentation
16 slides from Biogaia Ab Class B's earnings presentation, Oct 22, 2024
Slide 1: Interim Management Statement
Interim Management Statement Telephone Conference - 22th of October 2024 09:30 Theresa Agnew. CEO Alexander Kotsinas. CFO
Slide 2: Executive Summary Q3 2024
EXECUTIVE SUMMARY Q3 - 2024 • Sales were 304 MSEK (-4%) mainly due to weak sales in EMEA • Sales in EMEA decreased by 27% and in APAC sales increased by 24%. Americas increased by 5% • EBIT 41 MSEK (-65%) and EBIT margin 14% (38%) • Adjusted EBIT 93 MSEK (-22%) and Adjusted EBIT margin 31% (38%). It
Slide 3: Launches
Launches Distributor Country Product AllergyCare Switzerland Pharax drops with vitamin D Nestlé Brazil Nescare B. Lactis Abbott Mexico BioGaia Protectis drops with vitamin D Agefinsa Guatemala BioGaia Prodentis lozenges Agefinsa El Salvador BioGaia Prodentis lozenges Agefinsa Honduras BioGaia Proden
Slide 4: Key Events
Key Events • On July 19, BioGaia announced that it has entered into an exclusive distribution agreement with Recordati in Italy for BioGaia’s probiotic products. • On October 17, BioGaia announced that BioGaia’s preliminary results for the third quarter would not reach market expectations. In the th
Slide 5: Sales per Segment
Sales per Segment Sales per Segment Q3 2024 1% • Total sales for the quarter -4% decline 25% • Pediatrics sales decreased by 12% due to decreased sales of Protectis Drops. Sales decreased mainly in EMEA and Americas. Sales decreased in Turkey, Spain and Brazil. • Adult sales increased by 29% mainly
Slide 6: Sales per Region
Sales per Region Sales per Region Q3 2024 • EMEA: sales decreased by 27% mainly in Turkey, Spain and Poland. 31% • APAC: sales increased by 24% mainly in Indonesia, China and Australia. • Americas: sales increased by 5% mainly in BioGaia USA, Guatemala and Canada. 44% 25% YTD 2024 38% Q3 Q3 YTD YTD
Slide 7: Financials
Alexander Kotsinas, CFO Financials 7
Slide 8: Q3 Financials
Q3 Financials • Revenues were 304 (318) MSEK, 4% decline • EBIT was 41 (120) MSEK (-65%) • EBIT margin of 14% (38%) • Adjusted EBIT 93 (120) MSEK and adjusted EBIT margin 31% (38)% • Earnings per share were 0.36 (1.01) SEK • Cash flow at 111 (88) MSEK Net sales and EBIT margin (%) 400 50% MSEK 350 4
Slide 9: Q3 Sales Bridge
Q3 Sales Bridge -14 MSEK Q3 Change YTD Change 2023 317.7 998.7 Organic growth -4.8 -1.5% 67.6 +6.8% Currency -8.9 -2.8% -8.5 -0.8% 2024 304.0 -4.3% 1,057.9 +5.9% 9
Slide 10: Gross Margin per Segment
Gross Margin per Segment The gross margin was stable at 73% compared to 74% one year ago. The Pediatrics gross margin is the same as last year, and the Adult Health gross margin decreased by 2% due to mix effects. Q3 Q3 YTD YTD MSEK 2024 2023 2024 2023 Pediatrics 75% 75% 76% 74% Adult Health 66% 68%
Slide 11: Operating Expenses (OPEX)
Operating Expenses (OPEX) OPEX +56% (+11% excluding adjustments) • Sales costs increased due to increased activities related to sales and marketing mainly in subsidiaries • R&D costs increased mainly due to the impairment loss relating to MetaboGen of 51.2 MSEK • Other OPEX at 4.8 MSEK compared to -
Slide 12: Profit and Loss Statement
Profit and Loss Statement • Sales -4% • OPEX +56% • EBIT decreased by 65% and EBIT Margin 14%, Adjusted EBIT decreased by 22% and EBIT Margin 31% Q3 Q3 YTD YTD Change Change MSEK 2024 2023 2024 2023 Sales 304 318 -4% 1,058 999 6% EBIT Bridge Q3 Gross profit 222 236 -6% 772 725 7% -79 - percentage of
Slide 13: Cashflow
Cashflow • Cash Flow from Operating Activities increased by 1% to 100 (99) MSEK. The increase was mainly due to a relative lower negative change in working capital. • Cash Flow for the period at 111 (88) MSEK • Cash at the end of the period at 1,115 MSEK Q3 Q3 YTD YTD MSEK 2024 2023 Change 2024 2023
Slide 14: Concluding Remarks
Concluding Remarks • Net sales decreased by 4% (-2% excluding currency effects) • Our direct markets continue to perform strongly – flying start in Australia and New Zealand • EMEA sales decreased by 27% due to lower sales in the Pediatrics segment. Sales decreased mainly in Turkey, Spain and Poland
Slide 15: Q&A
Q&A
Slide 16: BioGaia.
BioGaia.