Enzymatica AB: Excellent volume growth for ColdZyme®
(Thomson Reuters ONE) -
Q2
* Net sales reached SEK 4.9 (3.1) million.
* Loss after tax came in at SEK -12.3 (-10.4) thousand.
* Earnings per share were SEK -0.20 (-0.42).
* Cash and cash equivalents were SEK 26.9 (23.4) thousand
Significant events in Q2
* Enzymatica completed its acquisition of Icelandic company Zymetech effective
April 1.
* Enzymatica completed its new share issue, raising SEK 60 million before
issue expenses.
H1
* Net sales increased to SEK 13.3 (10.0) million.
* Loss after tax came in at SEK -20.9 (-19.5) million.
* Earnings per share were SEK -0.47 (-0.78).
Financial ratios
----------------------------------------------------------------------
Q2 Q2 H1 H1 Full year
(SEK THOUSAND) 2016 2015 2016 2015 2015
----------------------------------------------------------------------
Net sales 4.9 3.1 13.3 10.0 27.9
----------------------------------------------------------------------
Gross margin, % 63 86 62 76 70
----------------------------------------------------------------------
Operating profit/loss -12.3 -10.4 -20.0 -19.5 -40.5
----------------------------------------------------------------------
Cash flow from operating activities -19.9
-15.1 -7.9 -12.7 -37.7
----------------------------------------------------------------------
Average number of employees 22 15 19 15 16
----------------------------------------------------------------------
(Zymetech is consolidated in Enzymatica's figures as at April 1, 2016)
CEO statement: With the Zymetech acquisition, we are entering a new phase
We started off the quarter by completing the acquisition of Icelandic company
Zymetech, and a new share issue in the amount of SEK 60 million was conducted in
May. Enzymatica's stated objective is to establish international sales via
renowned partners, and now we are in the process of putting in place the final
pieces of a stable foundation. The acquisition of Zymetech gave us a patent
family with high strategic significance and know-how relating to the enzyme
technology on which ColdZyme is based. We can thus now offer our potential
distribution partners both exclusivity and high-class collaboration. Given that
Enzymatica and the success of ColdZyme in Sweden are still relatively unknown on
the global market, we need to be patient and realize the fact that the
internationalization process will take time. This makes it all the more
gratifying that we are continuing to increase sales on the markets on which we
already operate. Sales in H1 (including Zymetech) were up 32% year-on-year, and
increased by 58% in Q2. The number of ColdZyme units sold to end consumers from
Swedish pharmacies increased in Q2 by 37%, which indicates a continuing increase
in customer demand. As previously announced, it is now important to pitch the
success of ColdZyme on the domestic market to potential distribution partners
outside of the Nordic region. We are primarily concentrating on the European
market, because the product is already CE-marked in the EU. We have also
established contacts outside of Europe in parallel because the time for approval
processes in other parts of the world prolongs the time to launch.
Meanwhile, the Zymetech integration process is proceeding according to plan.
Enzymatica is making a minor investment in the production plant in Iceland in
2016 to secure access to the enzyme and raise production capacity for future
expansion.
We are now in the off season for colds, but I'm confidently looking forward to
the second half of the year and to our sales continuing to increase. By the end
of the year, we should be able to see the first results of our efforts to sign
contracts with new distributors, and we also expect at that time to be able to
present the results of our ongoing follow-up study of ColdZyme, which is
currently in progress in the UK.
Fredrik Lindberg, CEO
Enzymatica at a glance
Enzymatica AB is a life science company whose business concept is to develop
medical devices based on barrier technology and marine enzymes for self care in
major market segments. In a short period of time, the company developed
ColdZyme(®), a unique mouth spray for fighting colds, launched the product in
six markets and reached a position over the past winter as one of the most-sold
cold products in Swedish pharmacies measured in SEK. Enzymatica has its own
sales organization in Scandinavia and collaborates with a contract sales
organization in the UK. Enzymatica also sells via distributers in Finland and
Spain.
Our development focuses on medical devices for upper respiratory tract
infections and oral health. An enzyme from deep-sea fish is a key sub-component
in product development.
Enzymatica was founded in 2007, has its head office in Lund, Sweden and has been
listed on the Nasdaq First North since June 15, 2015.
For questions about this report, please contact:
Fredrik Lindberg, CEO, Enzymatica AB
Tel: +46 (0)708-86 53 70 | Email: fredrik.lindberg(at)enzymatica.com
Bengt Jöndell, Interim CFO, Enzymatica AB
Tel: +46 (0)703-77 71 70 | Email: bengt.jondell(at)enzymatica.com
Enzymatica Interim Report January-June 2016:
http://hugin.info/160850/R/2028961/754317.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(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: Enzymatica AB via GlobeNewswire
[HUG#2028961]
Unternehmensinformation / Kurzprofil:
Datum: 18.07.2016 - 08:30 Uhr
Sprache: Deutsch
News-ID 483697
Anzahl Zeichen: 6584
contact information:
Town:
Lund
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 215 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Enzymatica AB: Excellent volume growth for ColdZyme®"
steht unter der journalistisch-redaktionellen Verantwortung von
Enzymatica AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
