Weifa ASA

First quarter 2015 results - continued growth and a solid quarter for both segments

Oslo, 28 April 2015

Weifa ASA (OSE: WEIFA) had consolidated revenues of NOK 151.3 million in the first quarter, which mainly represents the revenue of Weifa AS which was acquired 15 August 2014.

Consolidated EBITDA was NOK 23.4 million for the period, after calculated costs of employee options of NOK 1.4 million and an accrual for employee bonuses for the first quarter of NOK 1.0 million. The group also incurred one-off costs of approximately 1.0 million relating to the planned spin-off of Weifa's B2B business.

Weifa AS, on a stand-alone basis, had revenues of NOK 151.6 million (142.5) and EBITDA of NOK 27.0 million (24.9) in the first quarter, after an accrual for employee bonuses for the quarter of NOK 1.0 million (0.0), and one-off costs of NOK 1.0 million (0.0).

            - Weifa reports solid results for the first quarter, primarily supported by improved revenues in Consumer Health, as we maintained our position as the category leader in pain relief and continued our growth in the cough and cold category. In addition, our exciting product pipeline bodes well for future growth in Consumer Health, comments CEO Kjell-Erik Nordby.
            - In B2B, our volumes and revenues are developing according to expectations, our factories are running at full capacity, and approx. 95% of the metformin volume for 2015 has been contracted.  
            - Following the recent resolution by the general meeting to split the company in two distinct entities - Weifa (consumer health) and Vistin Pharma (B2B and contract production) - our company is entering a new chapter. From both a financial and an industrial perspective, this solution secures each business the best potential for development, and I am excited about the future for both companies.

Weifa will give a presentation today at 08:30 CET at Felix Konferansesenter, Bryggetorget 3, Oslo, Norway. CEO Kjell-Erik Nordby, VP Consumer Health Kathrine Gamborg Andreassen and CFO Gunnar Manum will represent the company.

The presentation will also be webcast live and can be accessed directly from http://webtv.hegnar.no/presentation.php?webcastId=20159852 or www.weifa.no/en/Investors. Questions can be submitted live during the presentation.

.The first quarter report and presentation is attached, and will be made available on www.weifa.no.

For further information, please contact:

Kjell-Erik Nordby
CEO
[phone]
[e-mail]

Gunnar Manum
CFO
[phone]
[e-mail]        

 

 

 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Weifa ASA first quarter presentation 2015
Weifa ASA first quarter report 2015

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Source: Weifa ASA via Globenewswire

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