Zinzino Second Quarter Revenue Jumps 24 Percent to 507 Million Kronor on Acquisitions and New Markets

GOTHENBURG, Sweden, Aug. 30, 2024 --

Zinzino reported second-quarter 2024 revenue of 507.0 million Swedish kronor, up 24 percent from 407.9 million kronor a year earlier. EBITDA rose to 63.0 million kronor from 53.7 million kronor, though the margin slipped to 12.4 percent from 13.2 percent, and net profit rose to 48.1 million kronor from 36.9 million kronor.

During the quarter, Zinzino acquired the distributor database, inventory and intellectual property of Luxembourg-based Xelliss, bought 49 percent of Cypriot olive oil producer Cleanthi Alpha-Olenic and signed a letter of intent to acquire U.S. direct selling company Zurvita. It also announced a launch in Serbia. The company said the lower margin mainly reflected higher selling costs tied to acquisitions and new markets.

Operating cash flow rose to 91.1 million kronor, and cash totaled 296.0 million kronor at June 30. Zinzino said it is on track toward about 2 billion kronor in revenue for full-year 2024.