Farma

pips
21.08.2019 kl 08:25 1229

NattoPharma increased revenues by 10% in the second quarter and 22% for the
first half of the year. Adjusted EBITA in the quarter came in at NOK 0,9
million, yet another profitable quarter for the company.

CEO, Kjetil Ramsøy:

"We continue to deliver growth with first half year revenues of NOK 58 million,
representing an increase of more than 22% on the same period in 2018, and
another quarter with a positive EBITDA line. At the same time, we have made
pleasing progress with our new ingredient with positive results from the studies
that have been completed to date, and with further studies underway.

The relentless effort over the past fifteen to eighteen months to improve our
supply capabilities have helped us to build a solid supply platform for both our
Synthetic and Natural products. The company is now well positioned to meet the
anticipated increased demand for vitamin K2 MK-7 in the coming years.

Whilst the growth achieved versus the previous year is encouraging, we have
faced challenges that have suppressed the anticipated revenue increase during
the first half. In particular, the complexities involved in the scale up of our
natural production capacity resulted in a few less deliveries than planned in
the quarter. Coupled with this two of our more significant customer accounts,
one in Europe and one in the US, have revised their forecasts as a result of
strategic changes to the timing of their product launches. Both these factors
have impacted the growth in this quarter, but demand on these accounts is
expected to increase again later this year or in early 2020."

Financial highlights:

+----------------+------+------+-----------+------+
|(mnok) |Q2'19 |Q2'18 |Change |2018 |
+----------------+------+------+-----------+------+
|Product Revenue |30,0 |27,4 |2,6 (+10%) |101,7 |
+----------------+------+------+-----------+------+
|Gross Margin |39,2% |41,9% |-2,7% |43,1% |
+----------------+------+------+-----------+------+
|EBITDA (adj.) |0,9 |2,1 |-1,2 |6,7 |
+----------------+------+------+-----------+------+

Please find enclosed the Nattopharma Group Second Quarter 2019 Report.

For more information, please contact:

Kjetil Ramsøy, CEO, NattoPharma

E-mail: kjetil.ramsoy@nattopharma.com

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

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