Oslo, 25 October 2016
· Record third-quarter revenues of NOK 93.8 million, an increase of 22% y-o-y
· Asan portfolio and organic growth driving revenue
· Third-quarter adjusted EBITDA of NOK 19.9 million (NOK 16.9 million)
· Strong brands secured revenue growth and high market share in all main categories
· Product line and category expansion by launch of Zonat for insomnia and Solvivo for sore throats
Weifa ASA (OSE: WEIFA) had record third-quarter revenues in 2016 on higher sales of all 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 93.8 million, representing an increase of 22 percent compared with the same period a year earlier. Organic growth was 4.1%, after adjusting for Asan.
Weifa's portfolio of long-established brands maintained a high market share in all key segments during the quarter.
EBITDA was NOK 19 million (NOK 15.1 million) for the third quarter after NOK 0.9 million (NOK 1.8 million) in cost of employee options. The EBITDA margin adjusted for employee option costs was 21.3% (21.9%).
"Weifa experienced growing demand for all our product categories in the third quarter. The launch of Solvivo strengthened our position in the cough & cold market and the introduction of Zonat has added a new growth category to our product portfolio. We remain focused on our growth strategy of strengthening the established brands, developing new innovative products and expanding our presence in the Nordic region", says CEO Kathrine Gamborg Andreassen.
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:
Questions may be submitted live during the presentation.
Please find the report and presentation for the third quarter enclosed. The report and presentation will also be made available on www.weifa.no .
For further information, please contact:
Kathrine Gamborg Andreassen
+47 95 17 86 80
+47 98 20 63 55
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