Investor Relations



    Swedencare’s acquisition of Stratford (24 June 2020):    (Print)

CFO Comments

“Increased market investments result in record sales”

JENNY GRAFLIND, CFO – SWEDENCARE AB (PUBL)


SALES AND EARNINGS (Q1/2020):

Net SalesQ1 2020

37 726

KSEK ( 23%)

EBITQ1 2020

10 714

KSEK (28.3%)

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Company Information


“Increased market investments result in record sales”

FIRST QUARTER: January 1st – March 31st 2020

(Numbers in parentheses refer to outcomes during the corresponding period of the previous year.)

•  Net revenue amounted to 37 726 KSEK (30 551 KSEK), a increase of 23%.
•  Organic, currency-adjusted growth amounted to 15% .
•  Operating profit begore depreciation (EBITDA) amounted to 10 430 KSEK (10 816 KSEK),
corresponding to a decrease of 4% corresponding to an EBITDA-margin of 27,6% (35,4%).
•  Operating profit after depreciation (EBIT) amounted to 10 714 KSEK (10 679 KSEK),
corresponding to an EBIT-margin of 28,3% (34,9%).
•  Profit after tax amounted to 8 441 KSEK (8 508 KSEK).
•  Profit per share, based on 15 801 980 shares 0,53 SEK (0.54 SEK).
•  As of March 31st 2020 cash amounted to 44 092 KSEK (35 252 KSEK).

Significant events during the first quarter:

•  After the end of the reporting period, the Covid-19 pandemic broke out. Swedencare monitors developments closely with our distributors and evaluates the extent to which this may affect the company’s operations in the short and long term. We expect that the underlying demand for our products will not decrease due to the Covid-19 pandemic, but we do expect some time delays of orders from our distributors as they, in turn, are affected by reduced store visits as well as limitations due to logistics. At present, it is impossible to give any forward-looking assessments to what extent this could possibly affect operations in the following quarters.

Significant events after the first quarter:

•  There are no significant events after the end of the first quarter to comment except what is described above regarding the impact due to the covid-19 pandemic.

Words from the CFO:

Society today looks completely different from when we were, only a quarter ago, excitingly opened in 2020. No one is left unaffected by the covid-19 situation but despite the challenges we have delivered a quarter with a revenue increase of 23% and an EBIT margin in line with our goals. In addition, we have several exciting projects and collaborations both to rejoice and to look forward to.

As I mentioned in the year-end report, we expected that covid-19 would affect us with a time delay in ordering from some markets. This time lag was confirmed when China, that was hit first, basically closed all physical trading in March month. The increased investment in online sales was affected at the same time of both delivery and logistics problems. Our Chinese distributor usually place one order per quarter, this time however, the order was not received during Q1. The Chinese market has now got started again and we will during Q2 deliver a large order. Our distributor recently reported that they, despite challenges during Q1, managed to reach the same revenue during the quarter as the corresponding period last year.

In Europe, the United States and the rest of Asia, the covid-19 pandemic has not had a major impact on sales or earnings during Q1 though there have been limitations with transportation and logistics and activities have been canceled or postponed. Our suppliers and their factories has continued to produce according to plan.

With significantly lower traffic and demand in stores our distributors expect that their replenished inventory, after the deliveries in Q1,is likely to last longer, which then is expected to affect orders to us in Q2 and possibly the following quarters – to what extent, however, it is difficult to forecast today. We continue to have a close dialogue with our distributors around the world to support them and we contribute, among other things, with extra marketing materials and campaigns.

Although we expect a temporary decline in orders from some distributors, we still see a strong long-term growth in demand as the pet market continues to grow. On the one hand, the number of new pets is increasing on almost all markets and on the other hand the increased working from home results in that “Pet Parents” spend extra time with their dogs and cats – the four-legged family members have become even more important.

Despite the lack of sales to China, which is our largest external market, the Rest of Asia accounted for 14% of the total sales for the quarter. The main contributor was Korea, which more than doubled their sales compared to the same period last year, this after a larger order which also included our new Mini Dental Bones.

Our agreement with Amazon that was concluded last fall has had a strong positive impact in Q1. In the UK, sales to Amazon doubled compared to the same period last year, when sales to Amazon went through a wholesaler. The cooperation has several advantages, for example, we have full control over the delivery and how our brands are presented and displayed on the platform. If the sales during the quarter has been positively affected by the fulfillment of Amazon’s warehouses and/or the covid-19 situation one can only speculate on, but online sales have increased significantly over a longer period and the trend is expected to continue. We are therefore expanding our efforts online, in the short term to meet the restriction in physical commerce and partly in the long term to reach more customer groups. In the longer perspective, the changed short- term shopping behavior, due to the covid-19 situation might results in increased shopping online, even when the crisis is over.

Our food project with Canagan continues successfully and their dental pet food is now available in 25 markets including Russia, Japan and Germany. I can happily report that we are now taking another step to develop this product group by entering into an exclusive agreement this quarter with a petfood producer for the Brazilian market, the largest market in the world after the United States, for petfood. I look forward to presenting more details about this in the next report. We continue to launch our popular Dental Bones on more markets and in the past quarter sales were 60% higher than during the corresponding quarter 2019.

We deliver an EBIT of 10.7 million SEK, corresponding to a margin of 28.3%, which is in line with our long-term goal. Our increased marketing efforts produce results while at the same time, the investment entails increased costs partly through cooperation with Amazon and partly through the marketing and introductory campaigns that was carried out in new retail chains in the USA in the beginning of Q1. EBIT was also affected positive by a weaker Swedish currency during the quarter.

We have all experienced how quickly everyday life can change and we all share the desires to be able to return to normal mode as soon as possible. Until then, we do our best to influence the situation of our customers and partners.

Take care of yourself,

Jenny Graflind, CFO
Malmö, April 21st 2020

Read the interim report in its entirety here:    (Print)    (Screen)

FOR FURTHER INFORMATION:
Håkan Lagerberg, CEO
Tel: +46 (0)735-170 170, E-mail: hakan.lagerberg@swedencare.se
Jenny Graflind, CFO
Tel: +46 (0)739-448 554, E-mail: jenny.graflind@swedencare.se

Swedencare develop, produce, market and sell premium products on the global and fastgrowing market within animal healthcare for cats, dogs and horses. The product groups ProDen PlaqueOff and NutriScience are represented on approximately fifty markets in all parts of the world, including the headquarter in Malmö, six subsidiaries in the Nordics, United States, France, Spain, Great Britain and Ireland and through an external distribution network. Swedencare’s sales have increased significantly over the last few years with strong margins and results. The board of directors and the management have a wide and extensive experience of international marketing and sales.

This information is information that Swedencare AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation and the Securities Market Act. The information was submitted for publication on April 21, 2020 08.30 CET.

Calendar Period: 2020/2021
Date Event
24 July, 2020 Half Year Report Q2 2020
22 October, 2020 Interim Report Q3 2020
18 February, 2021 Yearend Report 2020
22 April, 2021 Interim Report Q1 2021
Links to quarterly reports, annual reports
and prospectus for Swedencare AB (publ).

Below are listed the largest shareholders in
Swedencare AB (publ) as of 31/03 2020.
Name Shares Shareholding (%)
Håkan Svanberg & Co Health Care AB 4 631 455 29.31%
JCC Group Invest Sweden AB (Johan Bergdahl via company) 1 517 351 9.60%
DNCA Investments 1 427 299 9,03%
Mastan AB (Håkan Lagerberg via company) 1 110 362 7.03%
AMF Aktiefond Småbolag 755 000 4,78%
SEB Nanocap 538 485 3.41%
SHB Fonder 500 000 3.16%
Aktia Nordic Micro Cap 329 396 2.08%
Martin Shimko – MD Swedencare USA 300 000 1.90%
Investment AB Spiltan 300 000 1.90%
Cbny-Mkpgue Nab Acf Pie Growth UK 250 000 1,58%
Nordnet Pensionsförsäkring AB 237 583 1.50%
ML, Pierce Fenner & Smith Inc. 222 173 1,41%
Hans Persson – MD Swedencare France 199 750 1,26%
Enter Småbolagsfond 195 000 1,23%
Tedcap AB (Thomas Eklund via company) 190 000 1,20%
Grandeur, Fund BBHBOS 170 982 1.08%
Avanza 149 136 0.94%
BFCM P/C BFCM Sweden Retail LT – NEW 146 741 0,93%
Per Malmström Consulting AB 123,000 0,78%
COGEFI 113 391 0.72%
Cbny-Mkjgro Nab Acf Juno Kiwisaver 110 000 0,70%
Aktia Secura 108 873 0.69%
Others 2 176 003 13.77%
Total 15 801 980 100%
Free Float* 8 194 812 51,86%

Holdings include related parties
* Shares not owned by board members, management, their affiliates, or shareholders with more than 10%

For the current price and other share-related information,
please refer to Nasdaq First North Growth Market.

Nasdaq First North Growth Market is an alternative marketplace operated by OMX Nordic Exchange Stockholm. Companies whose shares are traded on Nasdaq First North Growth Market are not obliged to comply with the same rules as listed companies, but a less extensive regulatory framework applied to preferably smaller companies and growth companies. A placement in a company whose shares are traded on Nasdaq First North Growth Market may therefore be more risky than a placement in a listed company. All companies whose shares are traded on Nasdaq First North Growth Market have a Certified Adviser that oversees the company’s compliance with Nasdaq First North Growth Market’s regulatory framework for providing information to the market and investors. Certified Adviser reviews companies whose shares are to be traded on Nasdaq First North Growth Market. OMX Nordic Exchange Stockholm accepts the application for admission to such trade.

   Click here for our current share price at Nasdaq First North Growth Market.
ISIN-code Shortname
SE0008294078 SECARE
Certified Adviser: FNCA Sweden AB – phone: +46(8) 528 00 399 – Email: info@fnca.se – Address: Box 5807, 102 48 Stockholm, Sweden
Links to public presentations
of Swedencare AB (publ).
Date Description Download Video
10 June, 2020 Swedencare AB (publ) – Swedencare at Handelsbanken Nordic Mid Small Cap Seminar 2020
3 September, 2019 Swedencare AB (publ) – Swedencare at Introduce Investor Days 2019 (Q2 2019)
3 September, 2019 Swedencare AB (publ) – Interview with CEO Håkan Lagerberg at Introduce Investor Days 2019 (Q2 2019)
15 March, 2019 Swedencare AB (publ) – Sit-down interview with CEO Håkan Lagerberg (Q4 2018)
15 March, 2019 Swedencare AB (publ) – Company presentation with CEO Håkan Lagerberg (Q4 2018)
4 September, 2018 Swedencare AB (publ) – Sit-down interview with CEO Håkan Lagerberg (Q2 2018)
4 September, 2018 Swedencare AB (publ) – Company presentation with CEO Håkan Lagerberg (Q2 2018)
26 April, 2018 Swedencare AB (publ) – Interview with CEO Håkan Lagerberg (Q1 2018)
20 April, 2018 Swedencare AB (publ) – Remiums analys till institutioner, köp riktkurs 44 SEK
11 September, 2017 Swedencare AB (publ) – Investor Presentation SvD Börsplus 11 Sept 2017
30 August, 2016 Swedencare AB (publ) – Interim Report (Q2 2016)
21 April, 2016 Swedencare AB (publ) – Company Presentation
Content

Årsstämma 2020

Årsstämma 2020

Legal Organization /
Board and Management.

Swedencare AB (publ)-Legal Organization

Swedencare

The parent company Swedencare AB (publ) is responsible for the strategy, business planning and management. This is done by the control of trademarks and patents, sales rights, cooperation agreements and as parent company of the subsidiaries. The Company and headquarter is located at Medeon Science Park in Malmö, Sweden.

Subsidiaries/Sales Company

Swedencare owns 100% of the shares to all subsidiaries/sales companies which are responsible for the sales and marketing for its individual regions. The subsidiaries provide a monthly financial report as well as a sales progress to Swedencare. The group also have a common ERP-system where orders and invoices are registered. The system enable an effective production planning at the same time as the subsidiaries can track the order progress. Through the local market knowledge of the subsidiaries the marketing can be customized and the local customer preferences and new products can easily and effectively be identified. The subsidiaries are located and managed in Greece, Spain, France, Great Britain, Ireland, Sweden and the US.

Board of Directors (BoD) and Management

The Board of Directors are responsible for the Company’s strategic and financial targets and, together with the management, for the strategic planning. In the BoD, there is an extensive experience of international sales and marketing as well as a wide international network. The Managing Director and CFO are responsible to provide a business plan in line with the BoDs strategic and financial targets. They are also responsible for financial planning, and questions and communication with the stock exchange. The CEO of the Company, together with the managing directors of the subsidiaries, is a management team responsible for product development as well as sales and marketing.

Board of Directors of Swedencare

Swedencare AB (publ)-Board-Members

Swedencare AB (publ)-Board-Member-Per-Malmstrom
Per Malmström
President of the Board since 2014 – Born 1961.

•  Background from the financial sector, among others SEB, Aragon Fondkommission, CFO at Adera AB 1998-2001 (Addnode AB), as well as several Board assignments. Bachelor of economics from Örebro Högskola.

•  Managing Director and member of the board at Per Malmström Consulting AB. President of the board in K3 Nordic AB, K3 Travel AB, SVANBERG & CO INVEST AB, Creative Tools, Northway Partners, Deligate AB.

Independent in relation to the company/company management: Yes
Independent in relation to the company’s major owners: No
Holding*:  123 000 shares

Swedencare AB (publ)-Board-Member-Hakan-Lagerberg
Håkan Lagerberg
Member of the board since 2014 – Born 1968.

•  International experience from leading positions in private and public companies. International Jur. Kand from Lunds University. Post graduate in International Trade Law from University of Torino in Italy.

•  Chairman of the Board of One CC AB. Member of the Board of Directors of Polygiene AB (publ), HAOLAG AB and Mastan AB.

Independent in relation to the company/company management: No
Independent in relation to the company’s major owners: No
Holding*:  1 110 362 shares

Swedencare AB (publ)-Board-Member-Johan-Bergdahl
Johan Bergdahl
Member of the board since 2014 – Born 1970.

•  Entrepreneur and owner to several companies within sales, IT and property management. Degree in Market economy from Nercia Business School.

•  President of the board in Local Market Sweden AB and BR Group AB. Member of the board in Comera AB, JCC Group AB, JCC Group Invest AB, Junikvisten 10 AB, Rostastrand Holding AB, BR Group Holding AB, BR Group Fastigheter AB, Storgatan Fastigheter AB and Trygghandel AB.

Independent in relation to the company/company management: Yes
Independent in relation to the company’s major owners: No
Holding*:  1 517 351 shares

Swedencare AB (publ)-Board-Member-Tomas-Eklund
Thomas Eklund
Member of the board since 2016 – Born 1967.

•  Advisor to Patricia AB (Investor AB) and former Managing Director of Investor Growth Capital in Europe.
Extensive experience of investments and business development within the healthcare market.
•  Chairman of the Board of Sedana Medical AB (publ).

•  Board member of Boule Diagnostics AB, Biotage AB, Rodebjer Form AB and Immedica Pharma AB.

Independent in relation to the company/company management: Yes
Independent in relation to the company’s major owners: Yes
Holding*:  190 000 shares

Swedencare AB (publ)-Board-Member-Hakan-Svanberg
Håkan Svanberg
Member of the board since 2014 – Born 1957.

•  Entrepreneur and owner to several companies within IT, travel and finance. Master in Philosophy from Örebro University.

•  Managing Director in SVANBERG & CO INVEST AB. Member of the board in Creative Tools, Deligate AB, EyeonID Group AB, K3 Nordic AB, SVANBERG & CO INVEST AB, H. Svanberg Software Holding, Northway Partners, Svanberg Factoring, Treberg Holding AB, Kontosmart AB. Deputy of the board in Chief Holding AB and SWG Holding AB.

Independent in relation to the company/company management: Yes
Independent in relation to the company’s major owners: No
Holding*:  4 631 455 shares

Swedencare AB (publ)-Board-Member-Sara-Brandt
Sara Brandt
Member of the board since 2019 – Born 1963.

•  Vice President Almi Företagspartner, former VP and CEO Berner Nordic and before that senior positions on ia. Cederroth Nordic, Coca-Cola Sweden, Unilever Nordic and UK. Long background from international B2C and B2B companies and broad experience from several industries and product categories such as consumer health and international distributor activities.
Board member of ClearOn and Almi Skåne.

Independent in relation to the company/company management: Yes
Independent in relation to the company’s major owners: Yes
Holding*:  –

Own or related holdings of shares and other financial instruments in Swedencare. Holding by March 31, 2020.

Management
hakan-lagerberg
Håkan Lagerberg
CEO

•  See info above.

jenny-graflind
Jenny Graflind
CFO

•  Jenny has been employed since 2017.

•  A long international background as CFO and previously as, among other functions Financial Controller
and auditor of global groups, both privately owned as owned by private equity.
Bachelor of Science Management from Florida Atlantic University.

No other assignments.
Number of Shares in Swedencare:  35 000 shares.

Responsible at Swedencare’s subsidiaries
john-leonard
John Leonard
MD of subsidiaries Swedencare UK Ltd and Swedencare Ireland

•  John has been employed since 2004.

•  Over 20 years of experience from the Oralhealth industry as Sales Manager at TePe and Colgate and development manager at CTS dental.
HND Business & Finance from Teesside University.

No other assignments.
Number of Shares in Swedencare:  81 968 shares.

hans-persson
Hans Persson
MD of the subsidiary SARL Buccosanté

•  Hans is employed since 2008.

•  Experience of international marketing, distribution and sales as well as 25 years of experience in leading smaller companies in the French market.
Engineering degree and degree in market economy from Lund.

No other assignments.
Number of Shares in Swedencare:  199 750 shares.

martin-shimko
Martin Shimko
MD of subsidiary SwedencareUSA Inc

•  Martin has been employed since 2005.

•  A background as management trainee from NASSCO and the management group in The Bohle Co.
Bachelor of Science in Engineering from the University of Michigan and a degree in accounting from the University of California LA.

No other assignments.
Number of Shares in Swedencare:  300 000 shares.

sabine-uhde
Sabine Uhde
Head of the Nordic subsidiary Swedencare Nordic AB

•  Sabine has been employed since 2015.

•  Background as department manager and from the marketing department on TT-line.
Associate Degree.

No other assignments.
Number of Shares in Swedencare:  10 000 shares.

raquel-tosca
Raquel Tosca
Country Manager in the subsidiary Swedencare Spain SLU

•  Raquel has been employed since 2019.

•  An international background of international business, marketing and communication at the latest from the animal health company Laboratorios Calier. Master’s degree in Marketing, Communication & Digital Publicity from UOC University in Barcelona and Inesdi Digital Business School.

No other assignments.
Number of Shares in Swedencare:  -.

Ioanna Psychogiou
Ioanna Psychogiou
Country Manager in the subsidiary Biovet

•  Ioanna has been employed since 2019.

•  Background as manager of Biovet and experience in the pet and veterinary markets.
Physics Degree and Master’s Degree in Electronic Telecommunication of Technology.

No other assignments.
Number of Shares in Swedencare:  31 358 shares.

Articles of Association for
Swedencare AB (publ) (556470-3790)

§ 1 COMPANY NAME
The company name is Swedencare AB (publ). Public company.

§ 2 REGISTERED OFFICE
The registered head office of the company is in the municipality of Malmö.

§ 3 OBJECTS OF THE COMPANY
The company objective is, directly or indirectly, the development, manufacture and sale of products within the area of animal healthcare and preventive dental care and other business compatible therewith.

§ 4 SHARE CAPITAL
The share capital shall be not less than SEK 500,000 and not more than SEK 2,000,000.

§ 5 NUMBER OF SHARES
The number of shares shall be not less than 10,000,000 and not more than 40,000,000.

§ 6 FINANCIAL YEAR
The company’s financial year shall be calendar year.

§ 7 BOARD OF DIRECTORS
The board of directors shall consist of not less than three and not more than seven board members with not more than two deputy board members. The board members and deputy board members are elected annually for the period until the close of the first annual general meeting held after the year in which the board member or deputy board member was appointed.

§ 8 AUDITOR
For audit of the company’s annual report, the accounts and the administration of the board of directors and managing director, not less than one auditor and not more than two auditors with or without deputy auditors shall be elected.

§ 9 ANNUAL GENERAL MEETING

The following matters shall be addressed at the Annual General Meeting:

1. Election of a chairman at the meeting;

2. Preparation and approval of the voting list;

3. Election of one (1) or two (2) persons to verify the minutes of the meeting;

4. Approval of the agenda;

5. Determination of whether the meeting was duly convened;

6. Submission of the annual report and the auditor’s report, and if applicable, the group accounts and the auditor’s report for the group;

7. Resolutions:

(a) regarding the adoption of the income statement and balance sheet, and if applicable, the consolidated income statement and the consolidated balance sheet

(b) regarding allocation of profit or loss in accordance with the adopted balance sheet

(c) regarding the discharge from liability of the board members and, where applicable, of the managing director;

8. Determination of fees for the board of directors and, where applicable, for the auditors;

9. Election of the board of directors and auditors; and

10. Other matters which rest upon the meeting according to the Swedish Companies Act or the company’s articles of association.

§ 10 NOTICE TO ATTEND
Notice to attend a general meeting shall be advertised in Post- och Inrikes Tidningar (The Official Swedish Gazette) and on the company website. At the time of notice, information about the notice shall be advertised in Dagens Industri. The notice shall immediately, and at no cost for the recipient, be sent by post to those shareholders who so request and state their address.
Notice to attend an annual general meeting and notice to attend an extraordinary general meeting at which the issue of alterations of the articles of association is to be addressed shall be issued not earlier than six weeks and not later than four weeks prior to the meeting. Notice to attend an extraordinary general meeting other than such as mentioned above shall be issued not earlier than six weeks and not later than two weeks prior to the general meeting.

§ 11 APPLICATION IN ADVANCE
A shareholder, who wishes to participate at the general meeting, shall (i) be included in the transcript or other record of the share register as of five days before the meeting (ii) notify the company thereof not later than on the date specified in the notice to attend the general meeting. Such a date may not be a Sunday, other public holiday, Saturday, Midsummer Eve, Christmas Eve or New Year’s Eve and may not occur earlier than the fifth weekday prior to the general meeting. If the notice to attend the general meeting does not state a last day for notification, then notification is not required in order to participate at the general meeting. A shareholder who wishes to be accompanied by advisors at a general meeting shall state the number of advisors (not more than two) accompanying the shareholder in the application.

§ 12 CSD CLAUSE
The company’s shares shall be registered in a CSD (central securities depository) register in accordance with the Financial Instruments (Accounts) Act (1998:1479).

Articles of Association adopted at the general meeting held on March 7, 2016.

Swedencare AB (publ)
Press Releases

In the Press


June 9, 2020

Investors flock to
animal companies

A growing market and investors is willing to pay dearly.
Read more »


September 3, 2019

No dark clouds
for Swedencare

Swedencare manufactures pet products, a segment that is growing large worldwide.
Read more »


August 27, 2019

Dog owners spend
more than ever

The trend remains strong worldwide and the threat of recession does not scare the pet companies. Read more »


August 6, 2019

Swedencare:
Highly rated and trendy

Animal health is a trendy subject on the stock exchange. The Swedish company Swedencare is one of the few Nordic investment alternatives on the international trend. Read more »


January 29, 2019

Swedencare’s flagship product ProDen PlaqueOff® Powder
has been awarded the VOHC® Seal of Acceptance

Two clinical studies* on dogs performed by Jerzy Gawor, DVM, PhD, DipAVDC/EVDC.
Read more »


Dec 5, 2018

Swedencare expanding its operations in Ireland

Swedencare AB announced today it has moved into new, larger premises in Waterford which it has redeveloped to more than double its capacity and expand its workforce presence in Waterford.
Read more »


October 1, 2018

Swedencare AB (publ)
launch new food co-op

with worldwide premium
dog food brand Canagan.
Read more »


May 18, 2018

Animal stock trade

– can be dubbed in the short term
Börslunch May 18
View video »


April 20, 2018

Remium’s analysis to institutions

Swedencare’s shares buy
benchmark set to 44 SEK
Read more »










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