CONTINUOUS STRONG GROWTH - DIVIDEND PROPOSAL REMAINS
Strong growth in Central Europe combined with positive development in most other markets contributed to total revenues increasing with 44% to SEK 242.1 (168.3) million in the first quarter despite the outbreak of the global Covid-19 pandemic.
Items affecting comparability regarding recognition of sales commissions of SEK 22.2 million improved the EBITDA profit, which amounted to 26.3 (11.9) and the EBITDA margin, which amounted to 10.9% (7.0%). Adjusted EBITDA was SEK 4.1 million and the adjusted EBITDA margin was 1.7%. The Board of Directors' proposal for a dividend for the past financial year remains unchanged and amounts to SEK 0.70 (0.70) via SEK 0.55 (0.50) in ordinary dividend and SEK 0.15 (0.20) extra dividend on the same dividend occasion.
During the quarter, Zinzino had a strong focus on maintaining the positive sales growth in the Group and securing the critical processes for the business such as order management, transport, customer support and commission payments during the pandemic outbreak.
The launch of the new, all-natural product line was also started in the first quarter through the introduction of BalanceOil+, Protect+ and Xtend+. At the same time, a new packaging design was introduced that conveys a premium feel and that stands for a Scandinavian minimalism.
Shortly after the end of the first quarter, the Company took a major step in global expansion as the final acquisition documents were signed with VMA Life Group in Singapore.
For more information: Dag Bergheim Pettersen CEO Zinzino +47 (0) 932 25 700, zinzino.com
Pictures for publication free of charge: Marcus Tollbom +46 (0) 70 190 03 12,
Certified Adviser: Erik Penser Bank Aktiebolag, +46 (0) 8 463 83 00, email:
Zinzino AB (publ) is obliged to publish this information in compliance with current EU regulations governing market abuse. The information was provided by the above contact person for publication at 08:00 the 14th of May 2020.
Zinzino AB (publ.) is a global Direct Sales company that markets and sells test-based nutrition, skincare and life-style products. Zinzino owns the Norwegian company BioActive Foods AS and the research and production unit Faun Pharma AS. Zinzino is based in Gothenburg, with additional offices in Helsinki, Riga, Oslo, Florida and Adelaide. Zinzino is a public company and its shares are listed on Nasdaq First North Growth Market.