Oslo, 25 August 2015
Weifa ASA: Second Quarter 2015. A pure consumer health company. Board proposes dividend.
Weifa ASA (OSE: WEIFA) has become a pure consumer health company following the spin-off of its B2B operations and tablet manufacturing on 1 June 2015. The gross consideration of NOK 120 million from the sale has strengthened the balance sheet, and the board proposes a dividend of NOK 0.09 per share to be paid out in Q4. Going forward, Weifa is positioned to pursue an ambitious growth strategy.
Weifa maintained high market shares in all categories and segments in both the pharmacy and mass market channels during the second quarter. Total revenues for the continued operations of the consumer health business in Weifa ASA in the first half 2015 was NOK 158 million, representing an increase of 7.4 percent from the same period last year. EBITDA from continued operations came to NOK 31.6 million before the calculated cost of employee options, corresponding to an EBITDA margin of 20 percent. Total revenues for the second quarter amounted to NOK 70.6 million and EBITDA was NOK 12.7 million before option cost, giving an EBITDA margin of 18 percent.
“A late Easter and a one-week warehouse closure while executing the split between Weifa and Vistin Pharma caused the decrease in revenues and EBITDA margin in second quarter. However, the figures for first half show a solid growth, and we maintained high market shares in all our key categories. Going forward, we expect revenue growth and EBITDA margin to continue in line with the first half of 2015 “, 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.
Please find the report and presentation for the second quarter and first half 2015 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