Business update
The strategic acquisition of trademarks and intellectual property rights for the UnoMeter™ portfolio from
In a year of commercial milestones,
Financial highlights
In the second half of 2023 (H2 2023), operating revenues increased to 16.1 MNOK, demonstrating an 8.6 MNOK improvement year-over-year (YoY). For the full year 2023 (FY 2023), revenues climbed to 27.9 MNOK, reflecting an 8.4 MNOK increase YoY.
Gross profit in H2 2023 increased, reaching 5.0 MNOK, up by 4.6 MNOK YoY. The FY 2023 gross profit was 9.3 MNOK, showing a solid increase of 4.1 MNOK YoY.
Despite the negative EBITDA figures, there has been a noticeable improvement. H2 2023's EBITDA was -14.9 MNOK, which is a positive change of 12.3 MNOK compared to H2 2022. The FY 2023 EBITDA also improved by 10.8 MNOK YoY.
The net result shows a reduction in losses, with H2 2023 posting a loss of 25.159 MNOK, which is an 8.469 MNOK improvement over H2 2022. The FY 2023 net loss of 60.354 MNOK is also an improvement of 9.553 MNOK over FY 2022.
As announced on
Presentation
The Company will host a presentation and Q&A session at
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240313_1
After the live event, the presentation and recording will be made available under the Investor Relations section on the Company's website,
https://observemedical.com/investor-relations/
For further information, please contact:
Jørgen Mann, Interim CEO
Mobile: +45 408 67 558
E-mail: jorgen.mann@observemedical.com
Mobile: +47 958 12 765
E-mail: johan.fagerli@observemedical.com
About
The Company seeks to drive growth by leveraging its expertise in sales and commercialization of its broad portfolio of medical technology products, mainly in urine measurement, ultrasound, anesthesiology/ICUs, surgery and wound care, in combination with targeted M&A.
The Company is headquartered in
Further information is available at www.observemedical.com.
https://news.cision.com/observe-medical-asa/r/observe-medical-asa--full-year-and-second-half-2023-results,c3944524
https://mb.cision.com/Main/19175/3944524/2664924.pdf
https://mb.cision.com/Public/19175/3944524/980d8ac528fdd52e.pdf
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