Probi AB: 1 director

A director at Probi AB bought 288,534 shares at 350.000SEK and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly s...

Managing costs well in Q3

FY'24e marks a transition to a promising future

Slow start, but turnaround continues

Drop in sales due to tough comps. Gross margin negatively impacted by mix effects. EBITDA revised down 8-9% for '24e-'26e.

Probi - Weak Q3, but hope for 2023

Q3 result in line with pre-announced numbers US weaker in Q3; expect resumed group growth in 2023 Share trading at NTM EV/EBITA of 14x

Probi - Cautious outlook in Americas

Sales stabilising and EBITDA 7% above ABGSCe… … but macroeconomic environment could hurt demand ‘23e EBITDA down 2%, NTM EV/EBITA 20x

Probi - Weaker performance to stabilise in Q2

-16% organic growth on another weak Americas quarter Turning point in Q2, growth in H2 EBIT estimates down 24%

Probi - Impressive gross margin in Q4

Gross margin improvement offsets weaker sales 2022 will be a better year than 2021 ‘22e EBIT up 4% on FX, higher gross margin

Probi - North American weakness only short-term

North America below, but EBITDA margin held up Lower expectations for Q4 but outlook remains positive ’21-‘22e EBITDA down 5%; share at 31x ‘22e EV/EBIT

Probi - A bump in the road

Lower than expected North America revenues Multiple new partnerships announced during the quarter EBIT estimates down 19%-11%; 37x ’22e EV/EBIT

Sector Fast Comment - Life Science Summit 2021

50 Nordic life science companies – replay links attached COVID-19 recovery on the agenda AstraZeneca’s EVP Int. on the Chinese market

Probi - EMEA staging a comeback

Q1’21: 20% organic growth vs. ABGSCe 16% Growing above financial target, EBITDA slightly below Continued positive outlook for 2021 and beyond

Probi - Committed to growth

20% organic growth vs. ABGSCe 12% Investing in growth; expecting to reach financial goals 34x-29x EV/EBIT ‘21e-‘22e for 11% EBIT CAGR ’20-‘23e

Probi - Americas continues to deliver strong growth

Q4’20: 20% organic growth Product mix and higher costs weighs on profitability Positive wording for 2021

Probi - Americas set to steal the show again

Q4 report on Tuesday, 9 February, at 08:00 CET Negative EBIT revisions primarily driven by FX 34x EBIT ‘21e on ~8.5% EBIT CAGR ‘20e-‘23e

Cloetta AB - Mergers & Acquisitions (M&A), Partnerships & Alliances An...

Summary Marketline's Cloetta AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Cloetta AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic g...

Probi - Americas leads the way

Strong growth in Americas outshines softer EMEA/APAC Acquires ~10% stake (USD 6m) in Vital Nutrients We raise EBIT by 9%-6% ’20e-’22e

Probi - A record quarter boosted by the US

Q3’20: 43% organic growth helped by positive one-off EBITDA +24% vs. ABGSCe; margin slightly below We expect +10-12% cons estimate revisions for ‘20 EBIT

Probi - Healthy new ambitions

Flat sales y-o-y (-2% organic); +2% vs. ABGSCe Updated financial goals seem achievable 28-21x EV/EBIT ’20e-’22e for 8% EBIT CAGR ’19-’22e

Probi - Solid underlying demand amidst COVID-19

11% organic growth with 2.7% EBIT decline Confident outlook for ‘20 with risk of quarterly turbulence 4-3.5x EV/Sales ‘20e-’21e, 28-19x EV/EBIT ‘20e-’21e