Weifa ASA : Stronger key brand positions after solid operational quarter
(Thomson Reuters ONE) -
Oslo, 22 October 2014
Weifa ASA (OSE: WEIFA) had revenues of NOK 63.9 million in the third quarter,
mainly reflecting revenues of Weifa AS from 15 August 2014, when it was acquired
and listed as a public company under the name Weifa ASA.
EBITDA was negative at NOK 30.0 million for the period, including additional
cost of sales of NOK 29.7 million relating to the sale of inventory re-valued as
part of the purchase price allocation for Weifa AS, and costs relating to the
acquisition.
For the third quarter as a whole, Weifa AS, on a stand-alone basis, had revenues
of NOK 118 million and an EBITDA of NOK 22 million.
- Weifa's consumer health business consolidated its number one position in
the Norwegian pharmacy channel during the third quarter. The metformin business
received important approvals from the US Food and Drug Association, while our
opioids business took important initial steps in our 'Poppy to pill' strategy to
become an even broader supplier, says CEO Kjell-Erik Nordby.
- In line with our innovation strategy, we have also brought new and
attractive consumer health products to market in the quarter. The launch of
Proxan strengthens our position as the number one player in the pain market,
while the launch of Weifa C supports our strong ambition to become the fastest
growing player within "Cough & Cold, he comments.
Weifa AS was acquired for NOK 1,127 million in the third quarter and the company
changed its name to Weifa ASA. The marine and offshore activities were spun off
and listed on the Oslo Stock Exchange as Aqualis ASA in August. Following the
acquisition and the spin-off, the company raised gross proceeds of NOK 115.2
million through a private placement.
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 third quarter report and presentation is attached, and will also be made
available on www.weifa.no.
For further information, please contact:
Gunnar Manum
CFO
+47 95 17 91 90
gunnar.manum(at)weifa.no
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Weifa ASA third quarter report 2014:
http://hugin.info/136972/R/1864660/654510.pdf
Weifa ASA third quarter presentation 2014:
http://hugin.info/136972/R/1864660/654511.pdf
This announcement is distributed by GlobeNewswire on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Weifa ASA via GlobeNewswire
[HUG#1864660]
Unternehmensinformation / Kurzprofil:
Datum: 22.10.2014 - 07:00 Uhr
Sprache: Deutsch
News-ID 345891
Anzahl Zeichen: 3265
contact information:
Town:
Oslo
Kategorie:
Business News
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