Weifa ASA: Record-breaking fourth quarter and full year 2016, dividend proposed
(Thomson Reuters ONE) -
* Oslo, 16 February 2017
* Record quarterly revenues of NOK 114.5 million, up 17%
* Driven by Asan and organic growth
* Fourth quarter adjusted EBITDA of NOK 28.8 million (margin 25.2%)
* Full-year revenues NOK 400 million and adjusted EBITDA of NOK 89.3 million
(margin 22.3%)
* Signed new Nordic licensing and distribution agreements supporting long-
term growth strategy
* Proposed dividend of NOK 1.50 per share
Weifa ASA (OSE: WEIFA) had record fourth quarter and full-year revenues in 2016
on higher sales of the main categories: pain relief, cough & cold products and
nutraceuticals, as well as the addition of the Asan portfolio. Total revenues
for the quarter was NOK 114.5 million, representing an increase of 17 percent
compared with the same period a year earlier. Organic growth was 5.4%, after
adjusting for Asan.
"Our quarterly revenues exceeded NOK 100 million for the first time in the
fourth quarter, even before including Asan. We experienced growing demand for
our main product categories and positive impact from the innovative new products
we have recently launched," says CEO Kathrine Gamborg Andreassen.
EBITDA was NOK 27.7 million (NOK 22.1 million) for the fourth quarter after NOK
1.1 million (NOK 2.4 million) in cost of employee options and other costs. The
EBITDA margin adjusted for these costs was 25.2% (25.1%). Weifa's portfolio of
long-established brands maintained a high market share in all key segments
during the quarter.
Revenues for the full year 2016 was NOK 399.7 million (NOK 332.5 million), an
increase of 20% from 2015. EBITDA was NOK 80.4 million (NOK 65.6 million) for
the fourth quarter after NOK 8.9 million (NOK 7.3 million) in cost of employee
options and other costs. The EBITDA margin adjusted for these costs was 22.3%
(21.9%).
Weifa expects to launch Asan in Finland in 2017 after signing a distribution
agreement with Midsona Finland Oy in the fourth quarter. A further strengthening
of Nordic position is planned in 2017 after securing the rights to commercialise
a new and unique product line based on a patented fixed-combination pain
management solution containing ibuprofen and paracetamol.
"We remain focused on our growth strategy. The new distribution and licensing
agreements we have signed in recent weeks will drive Weifa's expansion in the
Nordic region. At the same we time remain committed to strengthening the
established brands and developing new innovative products", says Gamborg
Andreassen.
In line with Weifa's dividend policy of returning excess cash to shareholders,
the board of directors proposes a dividend of NOK 1.50 per share to be paid in
June 2017.
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=44472366
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 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: 16.02.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 524538
Anzahl Zeichen: 5051
contact information:
Town:
Oslo
Kategorie:
Business News
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