Zinzino First Quarter Sales Rise 15 Percent to 454.5 Million Kronor; EBITDA Margin Holds

GOTHENBURG, Sweden, May 22, 2024 --

Zinzino reported first-quarter 2024 revenue of 454.5 million kronor, up 15 percent from 393.7 million kronor a year earlier, with EBITDA of 51.7 million kronor and an EBITDA margin of 11.4 percent compared with 11.3 percent.

Gross profit rose to 160.9 million kronor and the gross margin expanded to 35.4 percent from 33.2 percent. Cash and cash equivalents stood at 328.1 million kronor at quarter end. During the quarter Zinzino entered a European strategic partnership with North American direct seller ACN, which also invested 10.4 million kronor for 149,468 Zinzino B shares via a directed issue.

After the period, Zinzino said it acquired rights to Luxembourg-based Xelliss SA's distributor database, inventory and intellectual-property assets for a fixed purchase price of 2 million euros, with contingent consideration of up to 8 million euros. Chief Executive Dag Bergheim Pettersen said the quarter left the company positioned for further growth.