Zinzino Q2 Revenue Up 18% To SEK 322.40 Million ($37 Million)

The second quarter of 2021 was yet another quarter in which good sales growth was combined with high profitability.

Total revenues in the Group increased by 18% and amounted to SEK 322.4 (274.3) million.

EBITDA result amounted to SEK 33.4 (16.0) million for the quarter and the EBITDA margin amounted to 10.4% (5.8%).

The margin improvement is achieved through economies of scale due to improved efficiency in IT systems, logistics and within the organization. During the quarter, sales started in India, and Malaysia achieved full market status. In addition, the new products BalanceOil+ Premium and ZinzinoGene+ were launched.

The good profitability during the first half of the year means that the board writes up the profit forecast for the full year. The expected EBITDA margin for the full year is now adjusted up from at least 6% to between 8% -11%. The total income for the full year is expected to exceed SEK 1,400 million.

APRIL-JUNE

• Total revenues increased by 18% to SEK 322.4(274.3) million
• Gross profit amounted to SEK 105.1 (73.5) million and the gross profit margin was 32.6% (26.8%)
• EBITDA amounted to SEK 33.4 (16.0) million and the EBITDA margin to 10.4% (5.8%)
• Cash flow from operating activities amounted to SEK 22.4 (19.9) million
• The Board adjusts the expected EBITDA margin for the full year to 8% -11%

JANUARY-JUNE

• Total revenues increased by 27% to SEK 655.8(516.4) million
• Gross profit was SEK 206.3 (157.2*) million and the gross profit margin was 31.5% (30.4%*)
• Adjusted gross profit was SEK 206.3 (135.0*) million and the adjusted gross profit margin was 31.5% (26.1%*)
• EBITDA was SEK 70.7 (42.3*) million and the EBITDA margin was 10.8% (8.2%*)
• Adjusted EBITDA was SEK 70.7 (20.1*) million and the adjusted EBITDA margin was 10.8% (3.9%*)
• Cash flow from operating activities was SEK 70.4 (52.5) million

Cash and cash equivalents at the balance sheet date amounted to SEK 166.9 (107.2) million
* For comparative figures for the first half of 2020 gross profit and EBITDA are affected with SEK 22.2 million due to a change in accounting as a result of changes in distributor remuneration terms.

About Zinzino

Zinzino AB (publ.) is a global Direct Sales company that markets and sells test-based nutrition, skincare and life-style products. Zinzino owns the research unit BioActive Foods AS and production unit Faun Pharma AS.

Zinzino is based in Gothenburg, with additional offices in Finland, Latvia, Norway, USA, Australia, Hong Kong and Malaysia. Zinzino is a public company and its shares are listed on Nasdaq First North Premier Growth Market. For more informaton please visit www.zinzino.com