Performance highlights for Q4 2023
- In this fourth quarter of 2023 (October-
December 2023 ),CS MEDICA delivered net sales of tDKK 1.685 (70) meeting the revised goal ofNet Sales of mDKK 1,5. More than 70% coming from the European territory, approx. half from recurring customers and 97,2% from the pain category. - In the fourth quarter of 2023, we additionally obtained an order intake of mDKK 0.6, which accumulates to a total order pipeline of mDKK12,2 at the closing of the quarter.
- Operating loss for the quarter amounted to tDKK 3.798, showing improvement from tDKK 4.371 last year. This enhancement stems not only from increased net sales but also from a significant reduction in administration costs by 40% to tDKK 685 together with reduced sales and distribution expenses.
- Credit bank/Cash and Cash equivalents at the end of the fourth quarter of 2023 closed at tDKK -2.178 (68). To bolster
CS MEDICA's liquidity, the focus remains on short-term sales and the factoring agreement with Svea. Simultaneously, we are exploring the possibility of expediting a bank transfer in collaboration with our Investor, RongShi, while also investigating alternative funding solutions to ensure financial stability. - Long-term funding is secured through the company's Investment Agreement with RongShi, involving a cash capital increase (direct issue) of mDKK 60 in two tranches. Additionally, we are actively exploring additional funding options.
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At the end of the period,
CS MEDICA's equity/asset ratio was 22% (86%).
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Phone: + (45) 2774 2280
Email: glh@cs-medica.com
Website: https://www.cs-medica.com/
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