First-quarter 2022 (same period last year) in SEK:
- Gross sales for the period amounted to
SEK 2,583 (272) thousand. - Net sales for the period amounted to
SEK 1,295 (234) thousand. - Gross profit amounted to
SEK 979 (140) thousand. - The gross margin was 75.6 (60) %.
Significant events during the quarter
January –
- The Company acquired 100% of the Polish CBD Company Hemp Juice Sp. z o.o.
- The Company signed an agreement and began the cooperation with the Japanese distributor
Life Activation Co. Ltd. regarding sales distribution of all Hemply Balance’s products on the Japanese market. - The Company launched two new products: CBD capsules and the cosmetic product Lip Balm.
- In February, a set-off issue of 120,000 shares was carried out to the sellers of Hemp Juice and 4,000 shares to Coach as a set-off for business support in connection with the acquisition.
- The Company signed an agreement and began cooperation with
Bangerhead AB regarding sales of Hemply Balance’s intimate care products.
Comments from the CEO
Starting this fiscal year, we set two internal goals. The objectives were to create substantial growth compared to the first quarter year over year, and to demonstrate continued growth compared to our strongest quarter, the fourth quarter. With the results in hand, it is very satisfying to present the outcome where we report an increase of as much as 38% compared to the previous quarter and an 850% increase when compared y-o-y.
Most of the reasons for the quarter's positive outcome
The
We also completed the acquisition of the Polish CBD company Hemp Juice, which since
During the quarter, we signed an agreement with the Japanese distributor Life Activation, which placed its first, and for the Company a significant order containing Hemply Balance’s all dietary supplements and intimate care products.
The Japanese market
Demand and interest in CBD products in
The Japanese authorities have rigorous quality standards on the manufacturer and its manufacturing procedures, making it difficult for many companies to start distribution in
Forward
The coming quarters will include more product launches for both the
Hemp Juice is an important cog in the European expansion and vision "to become a significant player in the European market through acquisitions." In parallel, we, therefore, continue to work according to our acquisition model, which we have strong faith in, to continue to expand and gain market share in the European market.
CEO
For further information, please contact:
CEO
Email: investor.relations@hemplybalance.com
Pingis Berg-Hadenius
Chairman of the board
Email: hadenius@economista.se
About
For more information, see the
© Modular Finance, source