Zinzino Second Quarter Revenue Rises 18 Percent to 322.4 Million Kronor

Zinzino reported second-quarter total revenue of 322.4 million Swedish kronor, up 18 percent from 274.3 million kronor. EBITDA rose to 33.4 million kronor from 16.0 million kronor, and the EBITDA margin was 10.4 percent compared with 5.8 percent. Gross profit was 105.1 million kronor, a 32.6 percent margin, versus 73.5 million kronor and 26.8 percent a year earlier. Operating cash flow was 22.4 million kronor.

The board raised the full-year EBITDA margin forecast to a range of 8 percent to 11 percent, from at least 6 percent. Full-year total income was expected to exceed 1,400 million kronor. For the first half, revenue rose 27 percent to 655.8 million kronor and EBITDA was 70.7 million kronor. Cash was 166.9 million kronor.

Chief executive Dag Bergheim Pettersen presented the quarter as another period of sales growth with higher profitability from scale in systems, logistics, and the organization. The report said sales started in India during the quarter and that Malaysia reached full market status. New products BalanceOil+ Premium and ZinzinoGene+ were also introduced.