Weifa ASA: Record second-quarter revenues driven by pain and cough & cold

Donnerstag, 13.07.2017 07:35 von GlobeNewswire

Oslo, 13 July 2017

• Record second-quarter revenues of NOK 98.6 million (NOK 95.3 million)
• All-organic growth of 3.4%
• Second-quarter adjusted EBITDA of NOK 22.1 million (NOK 18.6 million)
• Adjusted EBITDA margin of 22.5% (19.5%)
• Record first-half revenues of NOK 198.2 million (NOK 191.5 million)
• Organic growth of 3.5%
• Strong brands secured revenue growth and high market shares in the main categories

Weifa ASA (OSE: WEIFA) had record second-quarter revenues in 2017 on higher sales within pain relief and cough & cold products. Total revenues for the quarter was NOK 98.6 million, representing an all-organic growth of 3.4% compared with the same period of 2016.

EBITDA was NOK 21.1 million (NOK 17.1 million) for the second quarter after NOK 1.1 million (NOK1.4 million) in cost of employee options. The EBITDA margin adjusted for these costs was 22.5% (19.5%). Weifa's portfolio of long-established brands maintained a high market share in all key segments during the quarter.

"We are on track to deliver on our revenue growth ambitions for 2017 with record revenue for both the second quarter and first half of 2017. We continue to develop our leading position in the Norway across our portfolio, and we look forward to developing our Nordic offering going forward" says CEO Kathrine Gamborg Andreassen.

Revenue for the first half of 2017 was NOK 198.2 million, an increase of 3.5% from the same period in 2016. The organic growth was driven by increased demand for pain and cough and cold products.

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=58376211

http://www.weifa.no/webcast

Questions may be submitted live during the presentation.

Please find the report and presentation for the second 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@weifa.no

Simen Nyberg-Hansen

CFO

+47 98 20 63 55

Simen.nyberg-hansen@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