Third quarter 2008

20.11.2008 - Nutri Pharma today reports consolidated revenues of MNOK 23.9 and a consolidated EBIT of MNOK 0.2 for Q3 2008.....


MIG reports revenues of MNOK 21.1 which is 13 %
higher than Q3 2007. EBIT is reported at MNOK 1.1.
MIG has delivered positive EBITDA every month in

Royalty income is MNOK 1.4. Compared to Q3 2007 the
royalty income is at the same level.

Nutri5 achieved sale in Q3 of MNOK  1.1, compared
to MNOK 1.3 in Q2 2008.

Delpharmea Nutraceuticals AS in the Czech Republic
has started pre-sales of Nutrilett (under the
Nutriline trademark) to their biggest pharmacies.
The product will be launched to consumers in Q1
2009. Sales in Q3 were MNOK 0.3.

Consolidated sales in third quarter are MNOK 23.9
with a positive EBITDA of MNOK 1.4, and EBIT of
MNOK 0.2, compared to MNOK 20.0 in sales and a
EBITDA of MNOK 2.3 and EBIT of minus MNOK 14.3 in
Q3 2007.


Nutri Pharma today reports consolidated revenues of
MNOK 23.9 and a consolidated EBIT of MNOK 0.2 for
Q3 2008. Compared to Q3 2007 the revenues has
increased with 20 % and the profit is positive
compared with the loss in Q3 2007 of MNOK 14,3.

Out of the total revenue of  MNOK 23.9 in Q3 2008,
MNOK 21.1 were recorded in MIG (Russia/CIS).
Royalty revenues of MNOK 1.4 and sales of Nutri5
with MNOK 1.1 were recorded in the Nordic region.
Sales to the Eastern Europe was MNOK 0.3.

EBITDA for the third quarter is  MNOK 1.4 compared
with  MNOK 2.3 in the third quarter 2007.
EBITDA for the first 9M 2008 is  MNOK 1.3 compared
with  MNOK 0,1 in the first 9M of 2007.


Revenues in the third quarter 2008 ended at MNOK
21.1, which is 10 % lower than Q2 2008, and 13 %
higher than Q3 2007. EBIT is reported at MNOK 1.1.

Compared to first 9M of 2007 revenues in Russia/CIS
have increased by 30 %. Total revenue in the region
was MNOK 62.7. EBITDA ended at MNOK 6.3 and  EBIT
at MNOK 3.9. Compared to the same period last year
the EBIT is improved by MNOK 5.7.
Amortisation cost of the distributor list is MNOK
2.4, and finance cost for 9M 2008 is MNOK 1.3.

In Q3 royalty income in the Nordic area deriving
from the long term licence agreement for Nutrilett
was MNOK 1.4. The royalty is reduced by MNOK 0.3
due to a change in the distribution system at Orkla
(Axellus). The royalty income in the same quarter
in 2007 was MNOK 1.4.
Nutri5 was launched in February 2008, and sales in
Q3 2008 were MNOK 1.1, compared with a sale of MNOK
1.3 in the second quarter 2008.

In Q3 EBITDA in the Nordic region was negative by
MNOK 0.5
Amortisation cost is MNOK 0.8, and finance income
is MNOK 0.5.

Nutri Pharma operates with two business segments;
Nordic, with the existing royalty revenues,
including the direct sale of Nutri5 through its own
web shop, and Russia + CIS countries through the
direct sales organisation of MIG.

For further segment information see page 9.

Net financial expense was TNOK 129, compared to
finance expenses of TNOK 966 in Q3 2007.
Cash, money market fund and other liquid assets
were MNOK 11.2 as of September 31 2008, compared to
MNOK 9.9 at the end of Q2 2008. At September 30
2007 the liquid assets were  MNOK 25.1. There is no
debt in Nutri Pharma ASA  

                            COMMERCIAL UPDATE - Q3

Russia and CIS countries
MIG has increased sales by 13 % compared with the
same period last year and profit (EBIT) is
increased by MNOK 5.7 compared with the same

Nutrilett, distributed through Axellus (Orkla) as
one of their core product lines, has generated
royalty revenues of approximately MNOK 1.4, and
total royalty revenue of MNOK 4.6. This royalty
revenue has steadily increased over the last few

After the launch in February with an extensive
advertising campaign, advertising was considerably
reduced. Sales efforts going forward will be
focused towards the population that suffers from
menopausal problems. In Norway, 250.000 women (7%
of the population) suffer from one or more symptoms
and approx. 150.000 of these use hormone
replacement therapy (HRT) regularly, prescribed by


Russia / CIS
- The efforts made in 2007 have improved the
turnover, reduced the costs and made MIG into a
profitable and growing company, and we expect this
to continue going forward.

Nordic region
- Nutrilett continues to give the company a
stable income.
- Nutri5 will focus on obtaining growth
through editorial articles in weekly/monthly
magazines, and is sold through the net shop in
Norway as well as via our own customer service
(tel. 05222).
- We are currently exploiting opportunities
in direct sales channels internationally.

Central/Eastern Europe
- Delpharmea Nutraceuticals AS in the Czech
Republic is prelaunching according to plan Nutri
Pharma`s weight management products (`Nutrilett`)
in pharmacies. Sale to consumers will start in the
beginning of 2009, also with TV-commercials.

Oslo, 20 November 2008

The Board of Directors of Nutri Pharma ASA

Pleasedownload the report in PDF here.

Trond Syvertsen, CEO  +47 23 01 09 60 / +
47 91 72 14 57
Lars Helmer Enger, CFO      +47 23 01 09 60 / +
47 90 84 37 71

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