Q3 2024 Probi AB Earnings Call Transcript
Key Points
- Probi AB (OSTO:PROB) reported an EBITDA margin of 20% for Q3, marking a 2-percentage-point improvement from the previous year.
- The company has successfully completed a SMETA 4-Pillar audit in its US operations, reinforcing its commitment to sustainable and ethical business practices.
- Probi AB (OSTO:PROB) launched a new consumer product, ProbiĀ® Sense, in the Nordics, which is expected to enhance market presence.
- The company has announced a research collaboration with global BHP Brain Trust and the FINGERS Brain Health Institute aimed at reducing dementia risk.
- Probi AB (OSTO:PROB) is seeing tangible improvements in its US operations, which are yielding positive results in production KPIs and gross profit.
- Net sales for Q3 were SEK144 million, with a reported growth decline of 8% compared to the previous year.
- Organic growth in Q3 was down 5% compared to the same quarter in 2023, largely due to a contracting US probiotic market.
- The APAC region experienced lower-than-expected sales, impacted by economic slowdown in China and tougher market conditions.
- The gross profit margin is down on a year-to-date basis, despite an improvement in Q3.
- Net income for Q3 was SEK4.0 million, down from SEK6.4 million in the same quarter last year, reflecting a decrease in sales volume.
Good morning, welcome. And thank you for dialing in to Probi's presentation of our Q3 results for 2024. With me, I have Per Lindblad, the CFO of Probi and my name is Anita Johansen, I'm the CEO of Probi.
Please take a few moments to familiarize yourself with this safe harbor statement and this is the agenda of our presentation today.
So here are the highlights of Q3, which in contrast to the second quarter was a slow quarter. On the right side, you can see that the net sales totaled SEK144 million and the EBITDA margin of Q3 was 20%. Per will talk a little bit more about these numbers in the coming slides.
With regards to our business operations. This quota was characterized by the following highlights.
Our sales activities continue with strong customer engagement through a workshop, we had an APAC, we had trade show exhibition and customer meetings. Also, we have completed a rebranding of our business to consumer product line in the Nordics and we are now
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