Investor Relations


CEO Comments

“32% growth yielded – new profit record”

HÅKAN LAGERBERG, CEO – SWEDENCARE AB (PUBL)


SALES AND EARNINGS (Q3/2019):

Net SalesQ3 2019

31 759

KSEK ( 32%)

EBITQ3 2019

10 995

KSEK ( 27%)

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Company Information


“32% growth yielded – new profit record”

THIRD QUARTER: July 1st – September 30th 2019

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

•  Net revenue amounted to 31 759 KSEK (24 005 KSEK), a increase of 32%.
•  Organic, currency-adjusted growth amounted to 28% .
•  Operating profit begore depreciation (EBITDA) amounted to 11 311 KSEK (8 842 KSEK),
corresponding to an increase of 29% corresponding to an EBITDA-margin of 35,6% (36,7%).
•  Operating profit after depreciation (EBIT) amounted to 10 995 KSEK (8 664 KSEK),
corresponding to an increase of 27% corresponding to an EBIT-margin of 34,6% (36,0%).
•  Profit after tax amounted to 8 875 KSEK (6 961 KSEK).
•  Profit per share, based on 15 770 622 shares 0,56 SEK (0.44 SEK).
•  As of September 30th 2019 cash amounted to 40 063 KSEK (27 657 KSEK).

FIRST 9-MONTHS: January 1st – September 30th 2019

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

•  Net revenue amounted to 92 686 TSEK (71 359 TSEK), a increase of 30%.
•  Organic, currency-adjusted growth amounted to 25% .
•  Operating profit before depreciation (EBITDA) amounted to 31 286 TSEK (22 027 TSEK),
corresponding to an increase of 42% corresponding to an EBITDA-margin of 33,7% (30,8%).
•  Operating profit after depreciation (EBIT) amounted to 30 331 TSEK (22 096 TSEK),
corresponding to an increase of 37% corresponding to an EBIT-margin of 32,7% (30,9%).
•  Profit after tax amounted to 24 192 TSEK (17 578 TSEK).
•  Earnings per share calculated on 15 770 622 shares 1,53 SEK (1.11 SEK).
•  Cash flow from operating activities amounted to 24 740 TSEK (14 700 TSEK).
•  Foreign exchange gains amounted to 1 273 TSEK.

Significant events during the third quarter:

•  Swedencare AB (publ) production and logistics center has obtained the GMP B8 certification.

Significant events after the third quarter:

•  Swedencare AB (publ) acquires the Greek animal health distributor Biovet.

•  Swedencare AB (publ) present new CEO to lead the company for the financial goals in 2024 and adopts new dividend policy.

Words from the CEO:

Strong development on a wide front gave new sales and profit records in Q3.

Third-quarter sales of SEK 31.8 MSEK increased by 32% compared to Q3 2018. Also the profit developed well and we showed an EBITDA of 11.3 MSEK, an increase of 28% compared to 2018. The EBITDA margin was noted at 35.6%, well above our 30% profit target.

During the first half of the year, we had two quarters with sales of more than 30 MSEK for the first time in the history of Swedencare and I can now note that my assessment that the second half of the year will be even better, is true so far.

Most markets showed continued good development despite the strong first half of the year. North America continues to develop very well, this time with a turnover increase of 43%. Our increased sales force and more systematic efforts of the Canadian market leads to good results and the growth seems to continue. The influencer campaign we focused on this summer has resulted in increased activity on social media, website visits and increased sales. In the future, we will move more resources to influencer and other online marketing in all markets as it is effective from both a cost and time perspective compared to traditional marketing channels.

The UK returned from a slightly calmer Q2 and we feel well prepared for any possible complications that Brexit might initially cause. After talking to a number of experts, we do not expect that our products will suffer any customs duties if a Brexit is implemented.

The rest of Europe has been very strong with, among others, Greece and Portugal where we launched our Dental Bones and also launched in several new chains. We can now also welcome Biovet with MD Ioanna Phychogiou to the Swedencare family. Biovet will take over responsibility not only for Greece but also the Balkans where we so far have had limited sales.

Italy is the first country where we signed direct agreements with Amazon, a collaboration that got off to a great start during the quarter. In Italy, we previously only marketed our products to veterinarians and now we can see that there is a big suppressed demand that is met through the collaboration with Amazon. During the past quarter, we have sales of more than 0.5 MSEK and now have deliveries to Amazon’s Italian warehouse every week.

Negotiations are underway for an extension of the cooperation, and France and the UK are next in line. I expect we have agreements in place during Q4. In both of these countries, we sell a lot already why we will not have the same effect as in Italy, but we will have a completely different opportunity to manage campaigns and marketing which is expected to result in increased sales and a wider range of product offerings.

The start-up in Spain negatively affects us in Q3, which was expected, but agreements with the largest sub-distributor and a large retail chain raise expectations for Q4 and, above all, 2020. Now we have a very strong set-up and can start working with marketing and sales support.

The growth in Asia was strong during Q3 with China as, by far, the largest market. We sent by a great amount our largest delivery to China ever during the quarter and they continue to work methodically to maintain strong growth. According to our distributor, we still have a lot to do in China, which is why I expect strong growth for a number of years to come. In Brazil and Australia, sales are going strong according to our partners and we have received and expect more orders to be delivered during Q4 and early next year. In both Australia and Brazil, our distributors have sold equally or even more during the first three quarters of the year compared to the whole of 2018, so growth should be at least 25% but probably higher. In Brazil, we now reach out to TV and radio with an expert veterinarian and with large Influencer campaigns, which means that our sales have accelerated.

Regarding our pet food projects, we are growing substantially and Canagan have had very great success, both in the domestic market UK but also in a number of export markets. I expect continued strong growth in existing projects and that we will be able to present some new collaboration in the future.

We have now presented our new financial goals for 2024 and I am convinced that Swedencare will be able to achieve these with its unique position and momentum in the business. I myself have come to the conclusion that it is now time to leave after almost six years as CEO. During my time in the company a lot has happened since 2014 when we had sales of about 20 MSEK and had two employees. We have set a new sales strategy, acquired six companies, listed Swedencare on Nasdaq First North Growth Market, broadened the product range and added many new markets, to name a few milestones. Swedencare is now entering the next phase with new goals, and the time is well chosen for a new management. In Jenny Graflind, Swedencare gets an extremely competent CEO who knows the business well and has the energy required to take the company to new levels and successes.

I am convinced that Swedencare will continue to develop very well and I look forward to working on the Board and contributing in the way I can.

Thanks to all of Swedencare’s fantastic organization and business partners as well as all the shareholders who have been with me during my time as CEO!

Thank you,
Håkan Lagerberg, CEO
Malmö, October 24th 2019

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.

Denna information är sådan information som Swedencare AB (publ) är skyldigt att offentliggöra enligt EU:s marknadsmissbruksförordning och lagen om värdepappersmarknaden. Informationen lämnades, genom ovanstående kontaktpersoners försorg, för offentliggörande den 24 oktober 2019 kl. 08.30 CET.

Calendar Period: 2019/2020
Date Event
13 February, 2020 Yearend Report Q4 2019 (1 October – 31 December 2019)
23 April, 2020 Interim Report Q1 2020 (1 January – 31 March 2020)
24 July, 2020 Half Year Report Q2 2020 (1 April – 30 June 2020)
Links to quarterly reports, annual reports
and prospectus for Swedencare AB (publ).

Below are listed the largest shareholders in
Swedencare AB (publ) as of 30/09 2019.
Name Shares Shareholding (%)
Håkan Svanberg & Co Health Care AB 4,690,982 29.75%
Mastan AB (Håkan Lagerberg via company) 1,590,362 10.08%
JCC Group Invest Sweden AB (Johan Bergdahl via company) 1,552,351 9.84%
DNCA Investments 1 276,271 8,09%
AMF Aktiefond Småbolag 755,000 4,79%
SHB Fonder 574,589 3.64%
Aktia Nordic Micro Cap 496,614 3.15%
Nordnet Pensionsförsäkring AB 378,907 2.40%
Martin Shimko – MD Swedencare USA 300,000 1.90%
Investment AB Spiltan 300,000 1.90%
Avanza 230,020 1.46%
ML, Pierce Fenner & Smith Inc. 222,173 1,41%
Hans Persson – MD Swedencare France 199,750 1,27%
Enter Småbolagsfond 195,000 1,24%
Tedcap AB (Thomas Eklund via company) 190,000 1,20%
Grandeur, Fund BBHBOS 185,582 1.18%
Jonas Pålsson 169,329 1,07%
Aktia Secura 160,000 1.01%
COGEFI 131,570 0.83%
Per Malmström Consulting AB 123,000 0,78%
Others 2,049,122 12.99%
Total 15,770,622 100%
Free Float* 7,623,927 48,34%

Holdings include related parties
* Shares not owned by board members, 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
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 2019

Årsstämma 2019

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 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.

•  Board member in all subsidiaries of Swedencare. President of the board in One CC AB. Member of the board in HAOLAG AB and Mastan AB. Deputy of the board in Cellares AB and Comera AB.

Independent in relation to the company/company management: No
Independent in relation to the company’s major owners: No
Holding*:  1 590 362 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*:  1 552 351 shares

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

•  Advisor to Impilo and former Managing Director of Investor Growth Capital in Europe. Extensive experience of investments and business development within the healthcare market.

•  President of the board in Biotage AB and Sedana Medical AB. Member of the board in Boule Diagnostics AB, Calliditas Therapeutics AB, Immedica Pharma AB, Rodebjer Form AB and Memira Holding 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*:  4 690 982 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 June 30, 2019.

Management
jenny-graflind
Jenny Graflind
CEO

•  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:  40,000 stock options.

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

•  John has been employed since 2012.

•  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:  66,600 shares and 40,000 stock options.

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 stock options.

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:  -.

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


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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