Q4 2023 Biogaia AB Earnings Call Transcript
Hello. This is Theresa Agnew, CEO of Biogaia. We are pleased to be here to present our Q4 results. We will start with our executive summary with sales at SEK298 million, so up 9% for the quarter with overall for the year, SEK1.29 billion, which is a growth of 17% and the sales were strongly driven by our Asia Pacific and Americas regions with strong performance in the US Canada as well as China, the Philippines and South Korea.
Sales in our Europe Middle East Africa region decreased by around 29%, and that was mainly due to the performance in France, Italy and Central-Eastern Europe. Our EBIT went to SEK81 million for the quarter. So growth of 13% overall for the year at SEK443 million, which is growth of 23%. And our EBIT margin for the quarter is 27% now for the year at 34%. So strong overall performance, both in sales as well as EBIT. We do want to communicate that we have terminated our distribution agreement with our Italian distributor news for non-performance, and we are initiating arbitration proceedings. So the performance of Italy is or has also been a
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