ZINZINO AB (PUBL): INTERIM REPORT SECOND QUARTER 2022

GOTHENBURG, Sweden, Aug. 26, 2022 /PRNewswire/ --

GROWTH DESPITE GREAT UNCERTAINTY IN THE WORLD

Revenues during the second quarter of 2022 amounted to SEK 329.5 (322.4) million, which corresponded to 2% (18%) growth compared to the corresponding period last year. The EBITDA result amounted to SEK 20.1 (33.4) million and the EBITDA margin to 6.1% (10.4%). This demonstrated that the company managed to maintain high sales levels combined with profitability despite the influence of external factors. Sharply rising commodity and transportation prices, sales-suppressing shutdowns in the APAC region, and effects of the Russia-Ukraine war made an impact on profitability. 

Considering the current world market situation and the lower growth rate in 2022 that the situation entailed, the board of Zinzino has adjusted down the expected revenues for the full year 2022 to amount to approx. SEK 1,400 (1,370) million. The previously submitted revenue forecast for 2022 amounted to SEK 1,500 million. At the same time, the expected EBITDA margin for the full year is adjusted down by 1 percentage point to instead amount to approx. 6%. The board states that the uncertainty is still very great.

During the quarter Zinzino acquired the company Enhanzz IP AG including IP rights to its brands HANZZ+HEIDII and YU. In addition, Enhanzz Global AG was acquired with the associated distributor organization and inventory. Furthermore, the new products HbA1c Test, which measures the long-term blood sugar levels in the body, and BalanceOil Tutti Frutti, which is completely adapted for children, were launched.

APRIL - JUNE

• The total revenues amounted to SEK 329.5 (322.4) million, which corresponded to a growth of 2% (18%)
• The gross profit amounted to SEK 105.5 (105.1) million and the gross profit margin amounted to 32.0% (32.6%)
• EBITDA amounted to SEK 20.1 (33.4) million and the EBITDA margin to 6.1% (10.4%)
• Cash flow from current operations amounted to SEK 20.5 (22.4) million

JANUARY - JUNE

• The total revenues amounted to SEK 663.9 (655.8) million, which corresponds to an increase of 1% (27%)
• The gross profit amounted to SEK 204.8 (206.3) million and the gross profit margin amounted to 30.8% (31.5%)
• EBITDA amounted to SEK 45.8 (70.7) million and the EBITDA margin to 6.9% (10.8%)
• Cash flow from current operations amounted to SEK 11.6 (70.4) million
• Cash and cash equivalents on the balance sheet date amounted to SEK 151.5 (166.9) million

For more information please contact:
Dag Bergheim Pettersen CEO Zinzino +47 932 25 700 , email: [email protected]
Fredrik Nielsen CFO Zinzino +46 (0) 707 900 174, email: [email protected]

Images for free publication:
[email protected]

Certified Adviser: Erik Penser Bank Aktiebolag, +46 (0) 8 463 83 00, email: [email protected]

This information is such that Zinzino AB ( publ ) is obliged to make public according to the EU's market abuse regulation. The information was provided by the above contact person for publication at 08.00 on 26 August 2022.

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https://news.cision.com/zinzino/r/zinzino-ab--publ--interim-report-second-quarter-2022,c3620660

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