Slide 1: Interim Management Statement
Interim Management Statement Telephone Conference - 23rd of July 2024 09:30 Theresa Agnew. CEO Alexander Kotsinas. CFO
Slide 2: Executive Summary Q2 2024
EXECUTIVE SUMMARY Q2 - 2024 • Sales were 384 MSEK (+22%) mainly driven by sales growth in APAC and Americas • Sales in EMEA increased by 7%, in APAC by 49%, and in Americas by 22% • EBIT 135 MSEK (+42%) and EBIT margin 35% (30%) • BioGaia established its own distribution in Australia and New Zealand
Slide 3: Key Events & Launches
Key Events & Launches Distributor Country Product Pharmabest Israel BioGaia Protectis drops with vitamin D 10 ml BioGaia UK BioGaia Prodentis lozenges mint • On June 5, BioGaia announced that it is establishing its own distribution in Australia and New Zealand • On July 19, BioGaia announced that it
Slide 4: Sales per Segment
Sales per Segment Sales per Segment Q2 2024 • Total sales for the quarter increased by 22% 1% 20% • Pediatrics sales increased by 32% due to increased sales of Protectis Drops. Sales increased in all regions, mainly in China, Brazil and Canada • Adult sales decreased by 6% due to decreased sales of
Slide 5: Sales per Region
Sales per Region Sales per Region Q2 2024 • EMEA: sales increased by 7% mainly in Germany, Spain and Turkey • APAC: sales increased by 49% mainly in China, South Korea, and Vietnam. Sales for the quarter were 39% 36% positively impacted by quarterly variations for individual orders in China. • Ameri
Slide 6: Financials
Alexander Kotsinas, CFO Financials 6
Slide 7: Q2 Financials
Q2 Financials • Revenues were 384 (315) MSEK. +22% growth • EBIT was 135 (95) MSEK (+42%) • EBIT margin of 35% (30%) • Earnings per share were 1.10 (0.80) SEK • Operating cash flow at 119 (105) MSEK Net sales and EBIT margin (%) 400 50% MSEK 350 45% 40% 300 35% 250 30% 200 25% 150 20% 15% 100 10% 50
Slide 8: Q2 Sales Bridge
Q2 Sales Bridge +22% 4 384 315 65 2023 Organic growth Currency 2024 MSEK Q2 Change YTD Change 2024 315.2 681.0 Organic growth +64.8 +20.6% +72.4 +10.6% Currency +4.1 +1.3% +0.4 +0.1% 2024 384.1 +21.9% 753.9 +10.7% 8
Slide 9: Gross Margin per Segment
Gross Margin per Segment The gross margin was stable at 74% compared to 72% one year ago. The Pediatrics gross margin increased, and the Adult Health gross margin decreased mainly due to product mix changes. Q2 Q2 YTD YTD MSEK 2024 2023 2024 2023 Pediatrics 77% 74% 76% 74% Adult Health 61% 67% 59% 6
Slide 10: Operating Expenses (OPEX)
Operating Expenses (OPEX) OPEX +13% • Sales costs increased due to increased activities related to sales and marketing mainly in subsidiaries • R&D costs decreased mainly due to timing effects and higher costs for clinical studies in the same period last year • Admin costs decreased due to a reversa
Slide 11: Profit and Loss Statement
Profit and Loss Statement • Sales +22% • OPEX +13% • EBIT increased by 42% and EBIT Margin 35% Q2 Q2 YTD YTD Change Change MSEK 2024 2023 2024 2023 Sales EBIT Bridge Q2 384 315 22% 754 681 11% Gross profit 284 226 25% 550 489 12% +40 - percentage of revenues 74% 72% 73% 72% OPEX -149 -131 13% -271 -
Slide 12: Cashflow
Cashflow • Cash Flow from Operating Activities increased by 14% to 119 (105) MSEK. The increase was mainly due to higher operating profit despite a negative change in working capital. Cash Flow from financing activities increased by 403 MSEK due to increased dividends of 696.8 MSEK (292.8) • Cash Fl
Slide 13: Concluding Remarks
Concluding Remarks • In early July, BioGaia won the arbitration with the former Italian distributor, Noos • Total sales increased by 22% (+21% excluding currency effects) • EMEA sales increased 7% due to higher sales in both the Pediatrics and Adult Health segments. Sales increased mainly in Germany
Slide 14: Q&A
Q&A
Slide 15: BioGaia
BioGaia.