Zinzino Full-Year Sales Rise 22 Percent to 1.77 Billion Kronor; Raises Dividend and Partners With ACN

GOTHENBURG, Sweden, February 27, 2024 --

Zinzino reported full-year 2023 revenue of 1.766 billion Swedish kronor, up 22 percent from 1.443 billion kronor, with EBITDA of 240.6 million kronor and an EBITDA margin of 13.6 percent, up from 7.8 percent. Fourth-quarter revenue rose 23 percent to 527.9 million kronor, with EBITDA of 71.3 million kronor.

The board proposed raising the dividend to 3.00 kronor per share from 1.75 kronor. After year end, Zinzino said it entered a strategic European partnership with North American direct selling company ACN, which also invested about 10.4 million kronor for 149,468 Zinzino B shares in a directed issue.

Cash and cash equivalents were 321.2 million kronor at year end. Zinzino sells health and wellness products through a direct sales network and said sales-mix changes, efficiencies and scale helped lift margins.