Enzymatica AB: Continued growth during the first quarter
Interim report for
Enzymatica AB (publ)
JANUARY- MARCH 2018
Continued growth during the first quarter
First quarter
- Net sales reached SEK 15.1 (9.6) million.
- Net profit after tax came in at SEK -10.1 (-11.4) million.
- Earnings per share, basic and diluted, were SEK -0.11(-0.13).
- Cash and cash equivalents were SEK 8.2 (26.0) million.
Significant events during the quarter
- ColdZyme® Mouth Spray continued to exhibit double-digit growth in the Swedish market in both value and volume. Also a replenishment order from STADA for the German and Belgian market contributed to the positive sales increase.
Significant events after the quarter
- Favorable results from a study of elite athletes who used ColdZyme.
- At the Ear-Nose-Throat conference in Linköping on April 11, Enzymatica presented the results of an in vitro study, which shows that ColdZyme reduces the viral load of the second most common cold virus, Corona, by 99.9%.
| Key figures for group | |||
| (SEK million) | Jan -Mar 2018 |
Jan -Mar 2017 |
Full year 2017 |
| Net sales | 15.1 | 9.6 | 59.4 |
| Gross margin, % | 71 | 62 | 61 |
| Operating profit/loss | -9.6 | -11.5 | -30.2 |
| Cash flow from operating activities | -1.6 | -8.9 | -22.5 |
| Average number of employees | 23 | 21 | 21 |
CEO statement: Strong sales in Sweden and Germany
During the first quarter of 2018 Enzymatica continued to show good growth compared with the corresponding quarter in 2017. Sales on the Swedish and German markets in particular contributed to this growth. This was the 17th consecutive quarter that we demonstrated sales growth compared with the previous year. Sales of ColdZyme rose by about 16% in value, compared with barely 10% growth for the cold segment as a whole. ColdZyme thereby had the third highest growth among the top ten cold products in Sweden and strengthened its market share, which is now 5.2%. Sales in the German market also contributed to our growth because STADA placed a follow-up order.
After the quarter we published two interesting studies involving ColdZyme. One was a study of elite athletes who used ColdZyme with favorable results. The study shows that the use of ColdZyme helped to prevent colds, as well as to reduce the severity and duration of colds, thereby confirming the findings from a previous study of elite athletes. The other study is an in vitro study which demonstrated that ColdZyme deactivates coronavirus by 99.9%. Coronavirus is the second most common cold virus and it is also the underlying cause of serious diseases such as MERS and SARS. With these results added to our in vitro study of virus deactivation by ColdZyme published in 2017, we now have proven an effect on the five most frequent viruses causing common cold.
During the quarter we also confirmed several important "influencer collaborations" with opinion shapers to spread the message about the positive effects of ColdZyme. Famous athletes and health bloggers such as Malin Ewerlöf and Jonas Colting are among those who use ColdZyme regularly. We have had favorable experience with this type of collaboration and consider it to be an important path to reach key target groups such as the elderly, young people, families with children, health-conscious people and athletes.
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@enzymatica.com
Therese Filmersson, CFO, Enzymatica AB
Tel: +46 (0)708-40 72 24 | Email: therese.filmersson@enzymatica.com
Publication
This information is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:30 a.m. CET on April 26, 2018.
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@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.
About Enzymatica AB
Enzymatica AB is a life science company that develops and sells medical devices for infection-related diseases. The products are based on a barrier technology that includes marine enzymes. The Company's first product is ColdZyme® Mouth Spray, which can prevent colds and reduce the duration of disease. The product has been launched in around ten markets. The strategy is to continue to grow by strengthening the Company's position in existing markets and expanding into new geographic markets through established partners. The company is headquartered in Lund and is listed on Nasdaq First North. For more information please visit: www.enzymatica.se.
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