Zinzino Third Quarter Revenue Rises 12 Percent as Margins Narrow

Zinzino AB reported third-quarter 2022 revenue of 349.9 million Swedish kronor, up 12 percent from 313.6 million kronor a year earlier. Gross margin narrowed to 31.7 percent from 34.3 percent. EBITDA fell to 25.4 million kronor, a 7.3 percent margin, from 40.4 million kronor, a 12.9 percent margin, and net profit declined to 14.3 million kronor from 28.2 million kronor.

Nine-month revenue totaled 1,013.8 million kronor, up 5 percent, and cash stood at 163.7 million kronor. The company kept its full-year revenue expectation of about 1.4 billion kronor. During the quarter Zinzino launched the HANZZ+HEIDII skincare range acquired earlier in the year. The company said results were achieved despite sharply rising prices for raw materials and transport, shutdowns in the Asia Pacific region and the war in Ukraine.