Solid operating profit without Covid-19 tests, a continued growing pipeline and a new strategic key product
April -
- Consolidated sales during the first quarter, April to June amounted to
SEK 56.2 (46.1) million. Adjusted for non-recurring sales the revenue amounted to 56.2 (43.0) MSEK, a decrease of 31%. -
Gross profit amounted to
SEK 26.2 (23.7) million for the quarter, a decrease of 11%. -
EBIT amounted to
SEK 7.9 (7.9) million, a decrease of 0,1%. The operating margin was 14% (17%). - EBITDA margin was 18% - this margin is from now on reported separately as it is our new target figure for operational profitability in the long-term plan 2020/21-2024/25.
- Earnings per share were SEK 0:23 (0:25) for the quarter.
-
Cash flow from operating activities amounted to
SEK -12.0 (12.8) million for the quarter. -
Cash and cash equivalents were
SEK 24.8 (46.6) million at the end of the quarter.
CEO's comments
The first quarter, which kicks off the 2023/24 financial year, was an important quarter for
First quarter in summary
The first quarter's total sales in 2023/24 (no Covid-19 test sales in Q1), amounted to
Cash flow from operating activities during the quarter was negative
Financial goals and full-year forecast
Our long-term financial goals are fixed. So is the sales forecast for the full year 2023/24, where we see a growth of around 30%.
Strategic focus of EQL
- Launch the pipeline products as fast as possible
- Maximize the utility of our assets by launching products in more countries, by ourselves or through partnerships
- Continuously identify and sign new niche generics to be launched in the Nordics and elsewhere to secure long-term growth
- Outlicense and market our strategic key assets Mellozzan and Memprex
- Be cost-efficient in everything we do
- Continue to curiously explore new business models and potential revenue streams (e.g. as was done with the personal protective equipment (PPE) and the covid tests)
Products and market
During the quarter, we presented Memprex, our new strategic key product, through cooperation agreements signed for
Two new cooperation agreements for Mellozzan have been signed with (1) Adalvo, covering 89 countries outside
Five new niche generics for the Nordics have been added to our pipeline, which thus grows from 32 to 36 products (one product was launched in the quarter). We are working intensively to identify new products for our pipeline and will regularly update on progress.
Ampitar was launched during the quarter in one
Sales of self-tests for Covid-19 have been non-existent during the quarter as a result of a low spread of infection. EQL is and will remain well positioned if demand for testing turns around.
Other
There is a shortage of penicillin in
For more information contact:
CEO & President EQL Pharma AB (publ)
Phone: +46 (0) 76 317 90 60
E-mail: axel.schorling@eqlpharma.com
Web: www.eqlpharma.com
https://news.cision.com/eql-pharma/r/interim-report-april---june-2023,c3818826
https://mb.cision.com/Main/11664/3818826/2232363.pdf
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