Zinzino Second Quarter Revenue Rises 24 Percent; Raises Full-Year Outlook

GOTHENBURG, Sweden, Aug. 31, 2023 --

Zinzino AB reported second-quarter 2023 total revenue of 407.9 million kronor, up 24 percent from 329.5 million kronor a year earlier. EBITDA rose to 53.7 million kronor from 20.1 million kronor, for a 13.2 percent margin compared with 6.1 percent. Gross profit margin was 36.4 percent versus 32.0 percent.

Cash flow from current operations was 46.3 million kronor and cash and cash equivalents were 200.9 million kronor at midyear. On the back of first-half profitability, the company raised full-year 2023 revenue expectations to about 1,700 million kronor from a prior 1,500 million to 1,600 million kronor range, and raised the expected EBITDA margin to at least 9 percent from at least 7 percent.

Zinzino is a Sweden-based direct seller of test-based personalized nutrition and skincare products listed on Nasdaq First North Premier Growth Market.