ODI Pharma AB: Publication of year-end report for the fiscal year 2021/2022
ODI Pharma AB (“ODI” or the “Company”) hereby publishes its year-end report for the period July 2021 – June 2022. The report is available as an attached document to this press release and on the Company’s website (www.odipharma.com). Below is a summary of the report.
Fourth quarter (2022-04-01 – 2022-06-30)
The Group's net sales amounted to SEK 14,233 (0).
The Group's loss after financial items amounted to SEK -2,378,022 (-1,886,158).
Result per share amounted to SEK -0,16 (-0,12).*
The solidity as of 2022-06-30 was 88,48% (96,55%).**
Fiscal year (2021-07-01 – 2022-06-30)
The Group's net sales amounted to SEK 544,151 (0).
The Group's loss after financial items amounted to SEK -7,299,193 (-3,967,324).
Result per share amounted to SEK -0,48 (-0,26).*
The solidity as of 2022-06-30 was 88,48% (96,55%).**
* The Company’s result per share: The result for the period divided by the number of shares at the end of the period. The total number of shares as of 30th of June 2022, amounted to 15,220,000 (15,220,000) shares. The result per share based on the average number of shares of 15,220,000 (15,220,000) amounts to SEK -0,48 (-0,26) for the twelve months 2021-07-01 to 2022-06-30.
** Solidity: Equity divided by total capital.
Highlights during the fiscal year
Fourth quarter (2022-04-01 – 2022-06-30)
- No significant highlights during the period.
Third quarter (2022-01-01 – 2022-03-31)
- No significant highlights during the period.
Second quarter (2021-10-01 – 2021-12-31)
- November – ODI Pharma published its annual report for the fiscal year 2020/2021.
- December – ODI Pharma held its Annual General Meeting in the office of the Company. A summary of the resolutions can be found on the Company’s website (http://www.odipharma.com).
First quarter (2021-07-01 – 2021-09-30)
- July – ODI Pharma announced that Niclas Kappelin acquired 20,000 shares in ODI Pharma and that he thereby exceeded the threshold of five percent.
- August – ODI Pharma approved the official launch of the exclusive CBD-infused skincare line kandol., which will be available online at www.kandol.net starting mid-September 2021.
- September – ODI Pharma announced that the official launch date of kandol. will be 1st of October 2021. The products will initially be available at www.kandol.net to customers within the EU.
Highlights after the end of the fiscal year
- No significant highlights after the end of the fiscal year.
Comments by CEO Derek Simmross
ODI Pharma has made several important steps on our journey to strengthen our presence in the European market for medicinal cannabis during the last fiscal year. We have also expanded our business this last year by creating a specialized CBD skin care line, launched under the brand kandol.
The launch of kandol. has been one of our highlights during the last year. We are very pleased with the acceptance and interest in our products and are certain that the presence of cannabinoids in cosmetics will continue to grow over the next years. I am confident that our products are based on a disrupting formula that has the possibility to show outstanding effects. Our products were nominated for a range of awards, amongst others for the Vogue Beauty Awards 2022. Moving into a new year, we will continue to spread awareness of kandol. and hope to see the continued promotion of our products in important channels for the cosmetics industry; offline and online, with a focus on Social Media. We have completed the first phase of our business model to set the infrastructure in place in Central Europe and Scandinavia.
We are continuously making progress with Project Poland – understandably, the most important aspect of our business, and we optimistically see results in the not-so-distant future. The importance of this is well understood. – We are looking forward to being able to provide Polish patients with medicine of high quality at a competitive price. We are continuously looking at the existing supply chain in Poland and can clearly see that it does not meet the current demand. Therefore, we see great growth potential in the Polish market and are sure that we will play an important role in the solution for patients suffering from MS, Epilepsy and other illnesses that are clearly benefitting from medicinal cannabis.
In terms of other markets of interest, we are continuously monitoring the acceptance of medicinal cannabis throughout Europe and are preparing steps in several markets. We are highly confident in our Poland approach and over time many countries will benefit greatly from our products.
I want to thank our shareholders for your continued trust in ODI Pharma’s journey. I am confident that we have made great progress during this last year and that we are well positioned to increase the brand knowledge of ODI Pharma and kandol. in the medical cannabis and cosmetics industry. We have an exciting year ahead of us!
Derek Simmross
CEO, ODI Pharma AB
For more information on ODI Pharma, please contact:
Derek Simmross, CEO, ODI Pharma AB
E-mail: [email protected]
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis and cosmetics products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.