Navamedic ASA: Q2 and first half 2021 financial results
Oslo, 13 August 2021 – Navamedic ASA (OSE: NAVA) grew revenues by 56.7% in the second quarter of 2021 compared to the same quarter last year. The company reported revenues of NOK 66.0 million in the second quarter of 2021 with an EBITDA of NOK 4.3 million, driven by both new products, underlying growth and an improved revenue mix. The company reiterates its mid- to long-term ambition of building a NOK 500 million company.
“We continue to deliver rapid growth for our specialty pharma product Mysimba and consumer health products Alflorex and ThermaCare. In parallel, we expand our product portfolio with important new products such as Cysticina and PrecisionBiotics Zenflore, further strengthening our position in prioritized areas like gastro, obesity and other lifestyle related issues, says Kathrine Gamborg Andreassen, Chief Executive Officer of Navamedic ASA, and continues.
“The performance of our key products and the addition of new products show the quality of our platform, the strength of our team and expertise and our execution power in sourcing. This will be key as we embark on the second half of 2021, following our plan for building a leading Nordic pharma company.”
Revenues in the second quarter of 2021 were NOK 66.0 million (42.1 million in the second quarter of 2020). The gross margin was 39.3% (34.8%), while the EBITDA was NOK 4.3 million (-2.1). In the first half of 2021, revenues grew by 27.5% compared to the same period last year, up from NOK 97.8 million to NOK 124.7 million, while EBITDA was NOK 6.9 million, up from negative NOK 1.4 million in the same period last year. Navamedic will launch products in at least one country in each launch window going forward. The company targets 20% annual growth from 2021 and reiterates its mid- to long-term ambition of building a NOK 500 million company with strong gross margins and underlying profitability.
Navamedic will hold a presentation of the second quarter and first half 2021 financial results, Friday 13 August at 08.30 CET. The presentation will be held at Sparebank 1 Markets in Olav V's gate 5 in Oslo as well as via webcast on www.navamedic.com/investors/financial-results. Representatives from Navamedic will be CEO Kathrine Gamborg Andreassen and CFO Lars Hjarrand.
EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the attached second quarter and first half 2021 presentation on slide 20.
For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 680
E-mail: [email protected]
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
E-mail: [email protected]
Navamedic ASA is a Nordic pharma company and reliable provider of high-quality products, delivered to hospitals and through pharmacies, meeting the specific needs of patients and consumers by leveraging its highly scalable market access platform, leading category competence and local knowledge. Navamedic is present in all the Nordic countries, the Baltics and Benelux, with sales representation in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on the Oslo Stock Exchange (ticker: NAVA). For more information, please visit www.navamedic.com
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
