Weifa ASA : Record second-quarter revenues and key strategic initiatives
(Thomson Reuters ONE) -
Oslo, 25 August 2016
   · Record second-quarter revenues of NOK 95.3 million, a total increase of
35% - organic growth of 17% (excl. Asan)
   · Adjusted EBITDA of NOK 18.6 million (12.7) - margin of 19.5% (18.0%)
   · Asan portfolio and organic growth driving revenue
   · Improved terms in new debt structure with increased financial and strategic
flexibility. One-time financial cost effect of MNOK 17.5 related to the buy-back
of the bond loan
   · Strong brands secured high market share in all categories and segments of
both channels
   · Pursuing Nordic growth strategy with distribution agreement for pain
products in Finland
   · Entering new growth category with launch of Zonat, a RX product for
occasional insomnia
Weifa ASA (OSE: WEIFA) had record second-quarter revenues in 2016 on higher
sales of pain relief and cough & cold products, and the inclusion of the Asan
portfolio. Total revenues for the quarter was NOK 95.3 million, representing an
increase of 35% compared with the same period a year earlier. Organic growth was
17%, when adjusting for Asan.
Weifa delivered continued good operations and maintained a high market share in
all key segments during the quarter.
EBITDA was NOK 18.6 million (NOK 12.7 million in second quarter 2015) before
realisation of cost of employee options NOK 1.4 million (NOK 1.7 million). This
corresponded to an adjusted EBITDA margin of 19.5% (18.0%).
"Weifa delivered growth and margin improvements in the second quarter backed by
Asan and strong demand for our pain and cough & cold products. The distribution
agreement for pain brands in Finland and the recently announced launch of Zonat
represent key initiatives in our strategy to strengthen the presence in our home
market and the Nordic region. These initiatives add new growth potential to our
already long-term established brand portfolio", says CEO Kathrine Gamborg
Andreassen.
In line with Weifa's dividend policy of returning excess cash to shareholders,
the company paid a dividend of NOK 0.05 per share during the second quarter.
Weifa on 13 July effectuated a 25:1 reverse split. Adjusted to the new share
count, Weifa as a listed company has paid the equivalent of NOK 5.75 per share
in dividends since October 2015.
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=36207825
http://www.weifa.no/webcast
Questions may be submitted live during the presentation.
Please find the report and presentation for the second 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 2nd Quarter 2016:
http://hugin.info/136972/R/2037072/758945.pdf
Weifa ASA 2nd Quarter report 2016:
http://hugin.info/136972/R/2037072/758946.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Weifa ASA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.08.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 491016
Anzahl Zeichen: 4911
contact information:
Town:
Oslo
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 278 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Weifa ASA : Record second-quarter revenues and key strategic initiatives"
steht unter der journalistisch-redaktionellen Verantwortung von
Weifa ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
