Weifa ASA: Fourth quarter 2014 results - gained market shares and a solid quarter for both segments

Oslo, 25 February 2015

Weifa ASA (OSE: WEIFA) had revenues of NOK 154.8 million in the fourth quarter, which mainly represents the revenue of Weifa AS which was acquired 15 August 2014.

EBITDA was NOK 6.1 million for the period, including additional cost of sales of NOK 13.5 million relating to the sale of inventory re-valued as part of the purchase price allocation for Weifa AS, and NOK 5.1 million in employee bonuses relating to a pre-acquisition bonus plan for Weifa AS.  

Weifa AS, on a stand-alone basis, had revenues of NOK 154.8 million (145.7) and EBITDA of NOK 23.9 million (20.6) in the fourth quarter. For the full year 2014 Weifa AS had revenues of NOK 557.2 million (546.1) and EBITDA of NOK 97.8 million (87.4).   

       - I am pleased that we maintained our market leadership position in the OTC consumer health segment in the pharmacy channel in the fourth quarter. Our flagship product - Paracet - successfully increased its market share from a very high level. I am also very pleased with the growth in the cough & cold category where our Bronkyl product already is the sixth largest OTC product in Norway", comments CEO Kjell-Erik Nordby.
        
       - The underlying growth in our B2B business is strong and revenues in the fourth quarter were significantly higher than the previous quarter and 5.7 percent higher than the corresponding quarter last year. Overall, 2014 became a strong year for both metformin and opioids", he says.

Weifa will give a presentation today at 08:30 CET at Felix Konferansesenter, Bryggetorget 3, Oslo, Norway. CEO Kjell-Erik Nordby and CFO Gunnar Manum will represent the company.

The presentation will also be webcast live and can be accessed directly from http://webtv.hegnar.no/presentation.php?webcastId=19994951 or www.weifa.no/en/Investors. Questions can be submitted live during the presentation.

The fourth quarter report and presentation is attached, and will be made available on www.weifa.no/en/Investors.

For further information, please contact:
Gunnar Manum
CFO
+47 95 17 91 90
gunnar.manum@weifa.no