Growth despite large impact from the global antibiotics shortage, several important MA approvals and expansion of pipeline
July -
- Consolidated sales during the second quarter, July to September amounted to
SEK 59.6 (73.3) million. Adjusted for non-recurring sales the revenue amounted to 59.6 (51.2) MSEK, an increase of 16%. -
Gross profit amounted to
SEK 23.9 (28.6) million for the quarter, a decrease of 16%. -
EBIT amounted to
SEK 6.6 (11.9) million, a decrease of 45%. The operating margin was 11% (16%). - EBITDA margin was 14%.
- Earnings per share before dilution were SEK 0:16 (0:26) for the quarter. Earningsper share after dilution were 0:16 (0:25).
-
Cash flow from operating activities amounted to
SEK -4.0 (-18.3) million for the quarter. -
Cash and cash equivalents were
SEK 20.8 (28.3) million at the end of the quarter.
April -
- Consolidated sales during the period April-September amounted to
SEK 115.8 (119.4) million. Adjusted for non-recurring sales the revenue amounted to 115.8 (94.2) MSEK, an increase of 23%. -
Gross profit for the same period amounted to
SEK 50.1 (52.3) million, a decrease of 4%. -
EBIT for April-September amounted to
SEK 14.5 (19.8) million. - EBITDA margin was 16%.
- Earnings per share were SEK 0:40 (0:51) for the period. Earnings per share after dilution were 0:39 (0:50).
-
Cash flow from operating activities amounted to
SEK -23.6 (-12.9) million during April-September. -
Cash and cash equivalents were
SEK 20.8 (28.3) million at the end of September.
CEO's comments
In the second quarter of the financial year 2023/24, EQL delivers growth despite the large negative impact of the global antibiotics shortage. In addition, there was no significant sales of Covid-19 tests in the quarter. Towards the end of the year, our important antibiotics are again available for sale. The quarter is also characterized by good news linked to approvals of Mellozzan in new markets, several launches and expansion of the pipeline. The growth outlook of 30% for the full year remains fixed.
Second quarter in summary
The second quarter's total sales in 2023/24 (no sales of Covid-19 tests in Q2), amounted to
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%. Due to of the antibiotics shortage, the first half of the year's sales are behind plan. We assess our chances of catching up in the second half of the year as good.
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
Mellozzan, one of our two strategic key products, has been approved for sale in
For our other strategic key product, Memprex, work is underway to submit applications in
During the quarter, we launched two new hospital products, Glyronul and Copneg, after being awarded tenders in
Three new niche generics for the Nordics have been added to our pipeline, which thus grows from 36 to 37 products (two products were launched in the quarter). We are working intensively to identify new products for our pipeline and will regularly update on progress.
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---september-2023,c3877635
https://mb.cision.com/Main/11664/3877635/2436730.pdf
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