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:
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
+47 95 17 86 80
+47 98 20 63 55