Weifa ASA: Record first-quarter revenues and proposed dividend
(Thomson Reuters ONE) -
· Record first-quarter revenues of NOK 96.2 million, an increase of
10% y-o-y
· Adjusted EBITDA margin of 22.8%
· Asan portfolio the key driver for revenue growth
· The board of directors proposes a dividend of NOK 0.05 per share
· Strong brands secured high market share in all categories and
segments of both channels
· Easter holiday had, as expected, a negative impact on demand
· Debt refinancing reduces interest costs while increasing financial
and strategic flexibility
Weifa ASA (OSE: WEIFA) had record first-quarter revenues in 2016 as the
inclusion of the Asan portfolio more than offset the expected negative effect of
a full Easter Holiday during the period. Total revenues for the quarter was NOK
96.2 million, representing an increase of 10 percent compared with the year
earlier period.
Weifa maintained high market share in all key segments during the quarter, and
delivered continued good operations.
EBITDA was NOK 21.9 million (18.9 million in first quarter 2015) before
realisation of additional value in inventory recognised as part of the purchase
price allocation on the acquisition of Cederroth AS (Asan) of NOK 0.8 million,
cost of employee options NOK 1.6 million (1.4 million) and costs in conjunction
with the acquisition of Cederroth AS of NOK 3.1 million. This corresponded to an
adjusted EBITDA margin of 22.8% (21.6%).
"We delivered both growth and improved margins in the first quarter. Taking over
the Asan portfolio has provided an attractive new revenue stream, which more
than offset the expected impact from a full Easter Holiday in the quarter. We
maintain our ambition of delivering both organic growth and improved EBITDA
margin in 2016", says CEO Kathrine Gamborg Andreassen.
In line with Weifa's dividend policy of returning excess cash to shareholders,
the board of directors proposes a dividend of NOK 0.05 per share to be paid in
second quarter 2016. This will be the second dividend paid by Weifa as a listed
company following NOK 0.09 per share paid in October 2015 (before the 2:1
reverse share split).
Weifa will give a presentation today at 08:30 CET at Felix Konferansesenter,
Bryggetorget 3, Oslo, Norway. CEO Kathrine Gamborg Andreassen and CFO Simen
Nyberg-Hansen will represent the company. The presentation will also be webcast
live and can be accessed directly from:
http://webtv.hegnar.no/presentation.php?webcastId=33048462
http://www.weifa.no/webcast
Questions may be submitted live during the presentation.
Please find the report and presentation for the fourth quarter enclosed. The
report and presentation will also be made available on www.weifa.no.
For further information, please contact:
Kathrine Gamborg Andreassen
CEO
+47 95 17 86 80
kathrine.gamborg.andreassen(at)weifa.no
Simen Nyberg-Hansen
CFO
+47 98 20 63 55
Simen.nyberg-hansen(at)weifa.no
Weifa is Norway's leading consumer health company. We supply real value through
medicines, lifestyle products and solutions that address the essential needs of
consumers, customers and professional partners. Weifa was founded in 1940 and
now employs about 30 highly qualified people at our headquarters in Oslo. The
company has a strong position in Norway and is the market leader in pain relief,
with well-established brands such as Paracet and Ibux. We are also present in
other key areas such as dietary supplements and treatment for colds and
respiratory problems. Weifa is listed on the Oslo Børs (ticker WEIFA). For
further information, please visit: www.weifa.no
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Weifa ASA Presentation of 1st Quarter 2016:
http://hugin.info/136972/R/2006654/741495.pdf
Weifa ASA 1st Quarter report 2016:
http://hugin.info/136972/R/2006654/741498.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Weifa ASA via GlobeNewswire
[HUG#2006654]
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2016 - 08:01 Uhr
Sprache: Deutsch
News-ID 466349
Anzahl Zeichen: 4960
contact information:
Town:
Oslo
Kategorie:
Business News
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