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PRESS RELEASE
March 4, 2009
Ferrosan A/S - Annual Report 2008 - All-time high results
- Revenues grew by 9% to DKK 1,320 million
- Operating profit (EBITDA) rose by 10% to DKK 269 million
Ferrosan, the consumer and healthcare company, continued the positive development experienced over the last years by reporting solid growth in revenues as well as operating profit in 2008. Accordingly, Ferrosan achieved all-time highs in both revenues and operating profit.
Revenues in 2008 amounted to DKK 1,320 million compared to DKK 1,211 million in 2007 and were mostly achieved by organic growth. Operating profit amounted to DKK 269 million in 2008 compared to DKK 245 million in 2007.
"We are very pleased with the result which constitutes another record year in Ferrosan's history. We remain hopeful that the trend will continue in 2009 despite world economy instability", says Ola Erici, CEO at Ferrosan A/S.
Market trends
All of Ferrosan's operations achieved positive growth rates in 2008 compared to last year.
The Consumer Health brands Multi-tabs®, Idoform®, the eye care product Strix® and the joint care product Zinaxin® realised an increase in revenues of 7% in total. A large part of the growth was achieved in Russia and Ukraine where the revenues rose by 12% and 9% respectively compared to 2007. Ferrosan core brands are now positioned as market leaders in these countries. Sales of probiotics under the Idoform and Bifiform brands increased by impressing 31%. Also in 2008 the combined vitamin and probiotics product, Immuno®, was an important contributor to the growth within the adult segment, while all segments within the children's product portfolio experienced continued growth.
Ferrosan's Omega-3 business, supplements sold to consumers by subscription, sustained solid growth, both within its core product Fri Flyt®, the Omega-3 fish oil capsules, and other supplements. In total, this part of the business showed an increase of 11% compared to 2008. Omega-3 achieved its first subscription sales in Germany during second half of 2008 and expects to penetrate this market further in 2009.
The market for advanced skincare in form of tablets is still experiencing rapid development. The Imedeen® skincare products experienced positive growth in volume of approx. 5% in 2008.
Also the business area Medical Devices experienced continued growth in 2008 with increased use of the haemostat product, Surgiflo®.
For further information, please contact:
CEO: Ola Erici, Ferrosan A/S, phone +45 3958 5717.
CFO: Søren Kristiansen, Ferrosan A/S, phone +45 3958 5658.
Ferrosan A/S Annual Report 2008 in pdf format
About Ferrosan:
Ferrosan is an international consumer and healthcare company operating in two business segments: Supplements & Lifestyle Products and Medical Devices. Ferrosan sells its products in more than 70 countries and employs about 800 people. More than 90% of Ferrosan's DKK 1.3 billion revenue is generated outside Denmark.
It is Ferrosan's primary objective to further the general health and well-being of the population. Our focus is to aid children and adults in their pursuit of good health and optimal physical and intellectual capabilities. We strive to provide well-documented quality products and services that help people to benefit from a healthy lifestyle.
Ferrosan is owned by the Nordic private-equity company Altor, Scan-Vita International A/S and management.
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