Jul 23, 2024 / 07:30AM GMT
Theresa Agnew - Biogaia AB - President and Chief Executive Officer
Hi, this is Theresa Agnew, CEO of Biogaia, and Alex and I are here to share our Q2 results. For Q2, our sales were SEK384 million, which is growth of 22%. That was mainly driven by growth in Asia-Pacific as well as our Americas region.
Sales in Europe, Middle East, Africa increased by 7%, Asia-Pacific by 49%, and Americas by 22%. And we did have some orders due to quarterly variations in some of those areas, specifically in China and Brazil. Our EBIT was SEK134 million, which is growth of 42%, and our EBIT margin is 35%. Earlier in the month of June, we actually announced that we are taking our business direct in Australia and New Zealand. This is really exciting for us. It is one of our future investments.
Australia is actually the 12 probiotics market in the world, and we have a really big opportunity to grow in both Australia and New Zealand. Those are both markets where consumers understand probiotics. And coming in with our products, our probiotics drops in the beginning, and then we will be expanding our other
Q2 2024 Biogaia AB Earnings Call Transcript
Jul 23, 2024
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