Moberg Pharma AB Interim Report January - March 2018

STOCKHOLM, May 8, 2018 /PRNewswire/ -- SIGNIFICANT GROWTH FOR ALL KEY BRANDS

FIRST QUARTER (JAN-MAR 2018)

• Net revenue SEK 91.5 million (104.6)

• EBITDA SEK 21.9 million (16.7)

• EBITDA margin 24% (16)

• EBITDA for current product portfolio SEK 27.1 million (21.0)

• Operating profit (EBIT) SEK 12.5 million (6.9)

• Net profit after tax SEK 2.0 million (-3.0)

• Diluted earnings per share SEK 0.12 (-0.17)

• Operating cash flow per share SEK 0.66 (-0.17)

SIGNIFICANT EVENTS IN THE FIRST QUARTER

• A favorable outcome was received from the National Advertising Division (NAD) in a challenge filed against the largest US

• competitor to Kerasal Nail®. The competitor will discontinue its misleading packaging design and advertising

• In February, an agreement was signed with Randob Labs to divest the brand Balmex® for a total consideration of USD 4.25

• million (SEK 34.6 million) plus the inventory value at closing, generating a capital gain of approximately USD 0.5 million

• (SEK 4.4 million)

• The Nomination Committee proposes Anna Malm Bernsten as a new member of the Board of Directors

SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

• The divestment of the brand Balmex® was finalized in April

• Kjell Rensfeldt, VP R&D, will be retiring on October 1, 2018 but remains with the company part-time as Senior Adviser

• Patent granted for BUPI in the USA to 2032

STATEMENT FROM THE CEO

The year has begun with strong profitability and significant growth for all our key brands, and the Phase 3  studies for MOB015 are progressing according to the November 2017 plan. For the first quarter, the company generated revenue growth of 5% adjusted for divested brands, despite currency headwind. In local currency, net revenue for our key brands grew by 12-17%. EBITDA increased by 31% to SEK 21.9 million and the EBITDA margin improved from 16% to 24%

Strong lead-up to high seasonKerasal Nail® continues to develop positively in the US. The launch of a new campaign in March made an immediate impactand is driving year-over-year growth with increased profitability as marketing expenses remained unchanged. After therelaunch in early 2016, this is the ninth consecutive quarter of consumption growth. Further, the decision by the NationalAdvertising Division (NAD) in the US has recently forced our main competitor to modify misleading advertising and packagingdesign.Distributor sales developed positively both in Europe and the rest of the world. To stabilize sales outside the U.S., pendingMOB-015, our next-generation nail fungus product, we recently launched stronger claims in Europe, and hope to do so inadditional markets outside the US.New Skin® (+30.7%1) and Dermoplast® (+14.4%1) also started the year with great momentum, which we attribute to a positivehalo effect from advertising and distribution gains. Enhanced marketing campaigns for New Skin® and Dermoplast® will soonbe launched including new digital and social media activities. The inventory effects from the acquisition of Dermoplast® havenow been fully worked through, leading to net revenue growth of 12% in local currency for the brand. Hospital and retail salesare both trending according to plan, and we look forward to the imminent launch of this year's growth plan.

Pipeline

The Phase 3 studies for MOB-015 are progressing in line with the plan from last November, with recruitment in North America expected to be completed this summer and in Europe in the second half of the year. A widely referenced paper in Nature Biotechnology2 demonstrates that, for proven molecules such as in MOB-015, the probability of Phase 3 success is 79%, across all disease areas. For infectious diseases, the probability of success was shown to be higher than for the average disease area. For BUPI, an important milestone was reached when a U.S. patent was granted to 2032, complementing the patents in Europe and Canada. We continue the dialogue with our partner Cadila Pharmaceuticals regarding the Phase 3 study for BUPI, where we have prepared a comprehensive safety data package to address the Indian regulator's concerns about potential overdosing.

Focus going forwardWe are entering the peak season with strong momentum and marketing activities are now ramping up for Kerasal Nail® andNew Skin®. The divestment of Balmex® streamlines the portfolio further and supports our strategy of focusing resources onour larger brands which are significantly more profitable. We are excited about the growth prospects for our key brands,andcontinue to progress the MOB-015 studies and preparations for commercialization.

Peter Wolpert, CEO Moberg Pharma

[1] Symphony IRI, MULO, 12 weeks through March 25, 2018. Note that approximately 60% of sales of Dermoplast® are through hospitals,

which means that that retail sales data does not provide as complete a picture as for other brands.

[2] Clinical development success rates for investigational drugs, Hay et al, Nature Biotechnology, januari 2014

CONFERENCE CALL

CEO Peter Wolpert will present the report at a telephone conference today, May 8, 2018, at 3:00 p.m.

Telephone: SE +46-8-566 426 96, US +1 646 502 51 18

ABOUT THIS INFORMATION

Moberg Pharma AB is obliged to make this information public pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. (CET) on May 8th, 2018.

FOR MORE INFORMATION, PLEASE CONTACT:

Peter Wolpert
CEO
Phone: +1-908-432-22-03 (US), +46-70-735-71-35
e-mail: peter.wolpert@mobergpharma.se 

Anna Ljung
CFO
Phone: +46-70-766-60-30
e-mail: anna.ljung@mobergpharma.se

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Moberg Pharma AB Interim report January - March 2018

SOURCE Moberg Pharma

Heidelberg on Track to Meet Medium-term Targets – Expected Stable Development in 2017/2018

HEIDELBERG, Germany, May 8, 2018 /PRNewswire/ --

- Significant progress with digital transformation thanks to:

  - successful launch of subscription model and   
   - start of series production for digital presses 

- Path to medium-term targets taking shape:  

   - Group sales set to increase to around €3 billion and  
   - net result after taxes to > €100 million 

- Specified targets for financial year 2017/2018 achieved:  

   - despite significant negative foreign currency effects,  Group sales of €2,420 million and 
    - EBITDA of €172 million  

Heidelberger Druckmaschinen AG (Heidelberg) made significant progress with the Group's targeted digital transformation in financial year 2017/2018 (April 1, 2017 to March 31, 2018). A number of customers have already opted for the new subscription model that offers Heidelberg products and services under a usage-based all-in contract running over several years. The total of more than 30 contracts targeted for the new financial year 2018/2019 are set to generate a business volume of some €150 million over the term of the standard five-year models.

In addition, the series production of digital presses for packaging and label printing (Primefire and Labelfire), which also started in financial year 2017/2018, will have an increasingly positive impact on sales. Heidelberg is thus on course to meet the medium-term targets communicated in the summer of 2017. These include an increase in Group sales to around €3 billion, an operating result (EBITDA) of €250 to 300 million, and a net profit after taxes of over €100 million.

"Heidelberg made excellent progress with its digital transformation in 2017/2018. Both our new subscription model and the new digital presses are in high demand. Given that this will be reflected in the company's sales and result to an ever greater extent in the years ahead following the current start-up phase, our medium-term targets will be increasingly within our grasp," CEO Rainer Hundsdörfer, commented on the developments.

Operating targets for financial year 2017/2018 achieved 

Based on provisional figures that have yet to be audited, Heidelberg has achieved the targets it set itself with Group sales of €2,420 million. The shortfall compared with the previous year's figure of €2,524 million is mainly the result of negative currency effects and the deliberate avoidance of trading activities in low-margin remarketed equipment amounting in total to over €100 million. Despite the negative currency effects in the period under review, incoming orders were at a very encouraging level for a post-drupa year at €2,588 million (previous year: €2,593 million). The demand in the final quarter of the year was substantially up on the figure for the same quarter of the previous year - €676 million compared to €603 million - among other things due to the full order volume of subscription contracts being taken into account. This contributed to a significant increase in the order backlog at the end of the financial year.  

EBITDA excluding the restructuring result totaled €172 million in the reporting period (previous year: €179 million). This meant the resulting EBITDA margin of 7.1 percent (previous year: 7.1 percent) was within the expected range. The restructuring result amounted to around €-16 million in 2017/2018 (previous year: €-18 million). Lower interest costs resulted in a further significant improvement in the financial result to €-48 million (previous year: €-56 million). Without the tax burden from the American subsidiaries due to the U.S. tax reform, this would have led to a comparable net result after taxes of €39 million (previous year: €36 million). Due to the above-mentioned tax burden, however, the total net profit after taxes was around €14 million.

As expected, the free cash flow was slightly negative at €-8 million (previous year: €24 million) in the period under review due to acquisitions and investments associated with the construction of the new innovation center in Wiesloch. The net financial debt fell to €236 million in the reporting period (March 31, 2017: €252 million) and the leverage remained well below the target value of 2 at 1.4.

"Our growth initiatives are accompanied by a new financing framework that also enables us to further accelerate the digital transformation through targeted acquisitions," said, CFO Dirk Kaliebe.

Next important date:  

Heidelberg will be publishing the audited financial statements for financial year 2017/2018 and the outlook for 2018/2019 at the Annual Accounts Press Conference on June 12, 2018 in Frankfurt.

For additional details about the company and image material, please visit the Press Lounge of Heidelberger Druckmaschinen AG at http://www.heidelberg.com.

Heidelberg IR now on Twitter: 

Link to the IR Twitter channel: https://twitter.com/Heidelberg_IR

On Twitter under the name: @Heidelberg_IR

Important note:  

This press release contains forward-looking statements based on assumptions and estimations by the Management Board of Heidelberger Druckmaschinen Aktiengesellschaft. Even though the Management Board is of the opinion that those assumptions and estimations are realistic, the actual future development and results may deviate substantially from these forward-looking statements due to various factors, such as changes in the macro-economic situation, in the exchange rates, in the interest rates and in the print media industry. Heidelberger Druckmaschinen Aktiengesellschaft gives no warranty and does not assume liability for any damages in case the future development and the projected results do not correspond with the forward-looking statements contained in this press release.

Further information: 
Heidelberger Druckmaschinen AG

Corporate Public Relations
Thomas Fichtl
Phone: +49-6222-82-67123
Fax: +49-6222-82-67129
E-mail: Thomas.Fichtl@heidelberg.com

Investor Relations 
Robin Karpp
Phone: +49-6222-82-67120
Fax: +49-6222-82-99-67120
E-mail: robin.karpp@heidelberg.com

SOURCE Heidelberger Druckmaschinen AG

African Palm Corp. Signs New Agreement With The Congo

Adding Millions of Hectares of Palm Trees to Its Growing West African Portfolio

- African Palm Corp.'s operations will now extend into Guinea-Bissau and the Republic of the Congo, giving the Company access to a total of 4.5 million hectares of palm trees.

- The Company's West African cluster is now poised to become the third largest region dedicated to the production of African palm oil in the world, following Indonesia and Malaysia. Through the company's accelerated growth, it is set to shortly become the largest palm oil provider in the world.

- As a part of African Palm Corp.'s sustainable business model, 10 percent of the company's profits from the Congo's operation will be invested into local social projects such as schools, hospitals, and local infrastructure.  

MIAMI, May 8, 2018 /PRNewswire/ -- Following a recent trip throughout West Africa, African Palm Corp.(APC) announced today a newly signed agreement between the Company and representatives of Ngalipomi, a local group from the Congo. This agreement will give APC access to an additional three million hectares of palm trees in West Africa. The recent addition has substantially grown the Company's West African portfolio, which currently includes Guinea-Bissau and Congo, and positioned the company's cluster as the third largest area dedicated to the production of African palm oil in the world, following Indonesia and Malaysia.

African Palm Corp. plans on breaking ground on its Congolese operation in the first quarter of 2019 with support from its local partner, Ngalipomi. The two companies will use existing infrastructure found along the Congo River, the second longest river in Africa after the Nile, to transport its harvested palm fruits to APC's production facilities. The project is expected to generate a total of 120,000 new direct and indirect jobs, while improving Congo's GDP by 22 percent. African Palm Corp. guarantees a contribution of 10 percent of its profits from the Congolese operation back into social programs such as schools, hospitals, and local infrastructure, providing water and electricity for the communities.

"This is the second agreement that we have reached in just a few months and we are thrilled to include the Congo in our next phase of operations. This furthers our vision of creating a sustainable business model that can economically empower local African communities through the cultivation of palm fruits," explained African Palm Corp. President and CEO Oscar A. Faria. "We are seeking partnerships with West African countries where we can streamline our respective strengths to deliver high-quality, sustainably sourced palm oil to our list of global clients."  

The deal was signed in the presence of a public notary, Director General of Ngalipomi Juvely Ock, along with President and CEO of APC Oscar A. Faria, and the Company's Senior Management: Marielis Ontiveros, Marc Mesa and Carlos Gomez. Also in attendance were Agricultural Engineer Loubaki Cyrille, Director of Operations Ngoulou Prince, and Director General Nkounkou Chérubin from Doigts Verts Congo, who will provide technical advice to both parties engaging in the operation.

Globally, the demand for palm oil has increased drastically in the last 20 years, going from 15 million metric tons per year in 1995 to over 65 million in 2015, with Indonesia and Malaysia currently producing 85% of the world's palm oil. As the demand has made substantial growth around the world, buyers have also become more conscious to high quality products that support sustainable farming methods and the local communities that will be impacted by the new business.

African Palm Corp., with support and advice from a prestigious UK based insurance broker and a Lloyd's syndicate, has designed a solid business model that guarantees investors the viability and profitability of the business. APC's A-Grade ranking from Lloyd's ensures total annual profits, regardless of any political changes or climatic conditions that could affect the production and sales of the oil.  

Commitment to Local Communities

This native West African plant grows naturally in the wild, as opposed to some regions in Asia, making the company's impact on the environment minimal. Prior to the start of its operations, African Palm Corp. signed working agreements with local ethnic groups to collaborate in harvesting the fruit from the African palm tree. In addition to commercial transactions, 10 percent of African Palm Corp.'s annual net profit will be directly invested in social infrastructure projects such as schools, medical centers, and roads, reflecting the specific needs of each local community. Additionally, all the technical infrastructure that African Palm Corp. develops as part of the company's logistical needs, such as electricity, access to potable water, roads, and docks, will be available and accessible to the local communities. Lastly, most of the direct and indirect jobs created because of APC's operation will be assigned to local community members and leaders.

ABOUT AFRICAN PALM CORP.

African Palm Corp. is an American company dedicated to the extraction, processing and commercialization in international markets of derivative products of African Palm (mostly Palm Oil). The operations of the company will be based in a cluster of West African countries in partnership with members of the local communities. To learn more, visit http://africanpalmcorp.com/. 

 

SOURCE African Palm Corp.

CONTACT: Kelsey Flitter, kelsey.flitter@bm.com

RELATED LINKS
http://africanpalmcorp.com

INOX Leisure Limited EBITDA Increases 75% to Rs. 43.9 Crore in Q4 FY2018, Full Year EBITDA Increases 44% to Rs. 210.4 Crore

MUMBAI, May 8, 2018 /PRNewswire/ --

Financial Highlights:   

Q4 FY2018 witnessed a:

- 12% Growth in Revenue from Operations

- 11% Growth in Average Ticket Price

- 13% Growth in Spend per Head

- 59% Growth in Advertisement Revenue

- 75% Growth in EBITDA

The Board of Directors of INOX Leisure Limited (INOX) announced its audited financial results for the last quarter of the financial year, and the full financial year 2017-18, following its meeting on 7 May, 2018 in Mumbai.

For the quarter ending 31 March, 2018, INOX reported Rs. 323.6 crore of revenue from operations, a growth of 12%, YOY, last year. The earnings before interest tax and depreciation (EBITDA) amounted to Rs. 43.9 crore (75% higher than the corresponding quarter last year) for the quarter ending 31 March, 2018.

On a full year basis, the Revenue from Operations has grown from Rs. 1220.7 crore to Rs. 1348.1 crore(10% growth), EBITDA has grown from Rs. 146.1 crore to Rs. 210.4 crore (44% growth) and PAT has grown from Rs. 30.6 crore to 114.6 crore (274% growth).

Commenting on the results, Mr. Siddharth Jain, Director - INOX Group, said, "Content was relatively great following which the profits delivered was also substantially higher. We continue to deliver a robust increase in advertising revenues which definitely is heartening. INSIGNIA has also started showing some great numbers which is evident in the results declared. Our focus for the following year continues towards growth and enhancing our brand value keeping in mind the three pillars that we operate on - technology, luxury, and service."

About INOX Leisure Ltd. 

INOX Leisure Limited (INOX) is amongst India's largest multiplex chains with 123 multiplexes and 492 screens in 61 cities. INOX has redefined movie experiences in India making it truly 7-star. Each INOX property is unique with its own distinct architecture and aesthetics. INOX boasts of bringing the very latest in projection and audio technology, plush micro adjustable leather recliners with a butler on call facility, gourmet meal choices by celebrity chef, designer staff uniforms and many more. For easy and convenient ticket booking, INOX offers online booking on http://www.inoxmovies.com and through its smartphone applications across Android and Apple platforms.

For movie updates and various offers, one can follow us on:

Facebook (http://www.facebook.com/INOXLEISURE) 

Twitter (https://twitter.com/inoxmovies)

Instagram (https://www.instagram.com/inoxmovies/)

LIVE THE MOVIE only at INOX!

Media Contact:
Shweta Poojari
sweta.poojari@inoxmovies.com
+91-22-40626921
General Manager, Corporate Communication
INOX Leisure Ltd.

SOURCE INOX Leisure Ltd.

APML Suvidha and APML Sathi Launched by Honorable Union Minister Shri Nitin Gadkari

NEW DELHI, February 21,2018 /PRNewswire/ --

APML Digitalized to Facilitate Moving Services and to Empower Defence Veterans by Mobile Apps

Our Hon'ble Minister of Road Transport & Highways, Shri Nitin Gadkari, last week launched Agarwal Packers and Movers Ltd's (APML) two mobile apps - APML Sathi and APML Suvidha in the presence of dignitaries Y.S. Malik (Secretary of Ministry of Road Transport & Highways and Additional Secretary, NITI Aayog, Govt. of India), Jagdish Mittal, Major General Deepak Sapra (SM), Lt. General V.K. Chaturvedi(AVSM), Commodore Gangesh Kumar and Pradeep Singhal at Media Centre, Transport Bhawan, New Delhi.

     (Logo: http://photos.prnewswire.com/prnh/20160908/405465LOGO  )
     (Photo: https://mma.prnewswire.com/media/644348/Nitin_Gadkari_APML_Sathi_APML_Suvidha.jpg)

In the launch ceremony, Shri Nitin Gadkari appreciated the vision of Shri Ramesh Agarwal and Shri Rajender Agarwal and wished success for the new innings. Mr. Gadkari also praised the one-of-a-kind CSR activity being carried out by Mr. Agarwal for truck drivers in the form of 'Nidra Daan' facility provided at Nidra Daan Kendra, Dudu, Jaipur, focused on saving the lives of truck drivers due to lack of proper sleep and keeping in mind that the country is already facing an acute shortage of 22 lakh truck drivers. He further added that activities concentrating on the safety of truck drivers are also being performed by the Government of India.

In this launch, Mr. Ramesh Agarwal, Mentor of APML, presented his idea behind the launch of these two mobile apps. He took the reins of the event and awed the audience by showing his undeterred will to work for his fellow Defence veterans who inspired him to take forward all of them along and give them an opportunity to be an entrepreneur as well. He also expressed his belief that as APML is touching newer heights of success as a mover, the responsibility falls on him to take steps to penetrate deeper into the country and reach the remotest areas with moving services. His vision was further explained by Mr. Navneet Agarwal, Director, APML.

This event culminated with a brief about these two mobile applications. Where on one hand APML Sathi is APML's earnest endeavor to provide an opportunity to all, empowering particularly Army veterans and unemployed youth to be an entrepreneur and earn their living with love and respect. With this mobile app, the company strives to cover even the remotest areas in 707 districts across Indiaand reach to the most deprived, unemployed sections of the society without making them step out of their convenient places. The plan is to create around 15,000 employment opportunities with earnings of ₹30,000 per month or more under the Sathi scheme.

On the other hand, with APML Suvidha, APML strives to make relocation more convenient by providing its clients with all moving controls and facilities right on their mobile phones. The users can book their moving in any style, choice or pace they want anywhere, anytime using the app. They can be rest assured that their moving would be carried out by the industry's best stalwart professionals as per their wishes. Not only that, but also APML Suvidha solves more problems and provides an option of hiring of maid, carpenters, electricians, plumber and other skilled helpers along with the information of nearby places including schools and ATMs, all in just one app. Both these concepts are designed in sync with the mood of the country - jobs creation and economic development - in line with our Hon'ble PM's vision of 'Sabka Sath, Sabka Vikas', 'Skill Development' and 'Digital India & New India 2020.' 

About Agarwal Packers and Movers Ltd. (APML): 

Agarwal Packers and Movers Ltd. has made and broken its own largest mover in India record by shifting over 17,45,000 satisfied customers worldwide successfully. This achievement is recognized by Limca Book of Records many a times and recently acknowledged even by the World Book of Records (UK). APML is backed by more than three decades of experience in the logistics industry. APML, a proud business conglomerate has a diversified interest in aviation, logistics, packing and moving (nationally as well as internationally), transportation, 3PL, warehousing, home storage, supply chain, ODC transportation, cube-on-line freight station and other logistics related activities. The company possesses a fleet of more than 1,000 vehicles, 5,000 cubes, 20 lakh square feet of ultra-secure warehouses, a wide international presence and an establishment of more than 100 self-owned offices in various cities, serving 1,264 destinations within India and covering 182 destinations globally. It has constantly improved its system and services to the point of meeting the international standards in the relocation realm. No wonder APML Sathi and APML Suvidha mobile applications will bring more technical efficiency and improvement to its methods of working. Hence, this launch event marks the beginning of a new chapter of digitalization in APML's story.

Media Contact:
Praveen Tripathi
parveen.tripathi@agarwalpackers.com
+91-9350879556
Agarwal Packers and Movers Ltd.

SOURCE Agarwal Packers & Movers Ltd. (APML)