Enzymatica AB: Breakthrough in Germany and continued increase in sales
(Thomson Reuters ONE) -
INTERIM REPORT FOR
ENZYMATICA AB (publ)
JANUARY-MARCH 2017
Breakthrough in Germany and continued increase in sales
First quarter
* Net sales reached SEK 9.6 (8.4) million.
* Loss after tax came in at SEK -11.4 (-8.1) million.
* Earnings per share were SEK -0.13 (-0.32).
* Cash and cash equivalents were SEK 26.0 (7.2) million at the end of the
quarter.
Significant events during the quarter
* Enzymatica entered into an exclusive distribution agreement with STADA
Arzneimittel AG for distribution of ColdZyme(® )in the German market.
Key figures
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Jan.-March Jan.-March Full year
(SEK million) 2017 2016 2016
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Net sales 9.6 8.4 36.5
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Gross margin, % 62 61 61
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Operating profit/loss -11.5 -7.7 -46.2
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Cash flow from operating activities -8.9 -5.0 -38.4
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Average number of employees 21 16
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Comments from the CEO: Collaboration with STADA
In February, we signed an exclusive distribution agreement with STADA
Arzneimittel AG for the German market. STADA is a German public company with a
traditionally strong presence in Europe and especially Germany. STADA has
pursued a strategy of growth through trademarked products in recent years and is
an extremely interesting partner. STADA is the market leader in the cold segment
in the German market, with a range of symptoms relieving products, as well as in
the UK and Russia. With the addition of ColdZyme to its product portfolio the
company now has a complete offering for its customers. The German common cold
market for over-the-counter products is substantial, with a value of
approximately SEK 12 billion at the retail level, which is ten times the Swedish
market, why it is legitimate to say that this is an international breakthrough
for both Enzymatica and ColdZyme.
In April we were able to expand our collaboration with STADA by adding Austria
and Belgium to the distribution agreement, two markets comparable to Sweden in
size . For all new markets, sales will begin in the fall of 2017 and we have
already initiated preparations together with our new distribution partner. Our
focus remains unchanged on expanding our geographic presence internationally,
including outside Europe, though with a longer time horizon, as well as on
continuing to strengthen the position of ColdZyme through product development
projects and clinical documentation.
It is rewarding to see that the acquisition of the Icelandic company Zymetech
in April 2016 is now beginning to pay off. The acquisition of Zymetech included
patents that have made it possible to offer distributors exclusivity, a unique
production facility of enzymes that ensures reliable delivery, and product and
research expertise that will facilitate development of a broader portfolio. This
acquisition of Zymetech, which affected the quarter with approximately 3 MSEK
compared with the corresponding quarter previous year, has undoubtedly made
possible the agreement with Stada.
In addition to this strong international breakthrough, I am extremely pleased
that we are continuing to grow in our home markets, especially Sweden and
Denmark. Enzymatica can now report yet another quarter, the 17th in a row, with
increased sales compared with the same quarter the previous year.
I look forward to good growth opportunities for Enzymatica as we continue to
launch ColdZyme internationally.
Fredrik Lindberg, CEO
Enzymatica at a glance
Enzymatica AB is a medical device company whose business concept is to develop
medical devices based on barrier technology and marine enzymes for self-care in
major market segments. The Company developed ColdZyme(®), a unique mouth spray
for fighting colds, launched the product on eight markets and reached a position
over the past winter as one of the best-selling 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, Greece 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 and has been listed
on Nasdaq First North since June 15, 2015.
The Board of Directors and CEO hereby confirm that this interim report provides
a true and fair view of the parent company's and group's business, financial
position and results of operations, and describes material risks and
uncertainties faced by the parent company and group companies.
Lund, Thursday, February 16, 2017
Bengt Baron Marianne Dicander Alexandersson Mats Andersson
Board Chair Board Member Board Member
Gudmundur Palmason Sigurgeir Guðlaugsson Louise Nicolin
Board Member Board Member Board Member
Fredrik Lindberg
CEO
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, CFO, Enzymatica AB
Tel: +46 (0)703-77 71 70 | Email: bengt.jondell(at)enzymatica.com
Publication
Enzymatica AB (publ) is required by Swedish law (the Securities Market Act
and/or the Financial Instruments Trading Act) to publish the information in this
interim report. The information was submitted for publication on Thursday, April
20, 2017 at 8:30 a.m.
Street address
Enzymatica AB (publ)
Corporate identity no.: 556719-9244
Mailing address: Ideon Science Park, 223 70 LUND
Street address: Scheelevägen 19, Ideon, Lund
Tel: +46 (0)46-286 31 00 | info(at)enzymatica.se | www.enzymatica.se
Enzymatica is listed on the Nasdaq First North. The Company is traded under the
ticker symbol ENZY and ISIN code SE0003943620.
Enzymatica's certified advisor is Erik Penser Bank.
Enzymatica Interim Report January-March 2017:
http://hugin.info/160850/R/2096779/793578.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Enzymatica AB via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 20.04.2017 - 08:31 Uhr
Sprache: Deutsch
News-ID 537224
Anzahl Zeichen: 8403
contact information:
Town:
Lund
Kategorie:
Business News
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