Interim report 4th Quarter 2009 NattoPharma ASA
Highlights
Extensive cost-cuts: Additional significant cost-cuts achieved in the 4th quarter, resulted in an operating cost for the quarter of MNOK 4.3. This represents a reduction of 57 % compared to the 4th Quarter 2008 operating costs. The company has thus achieved its objective to reduce quarterly operational costs to a level below MNOK 5.0.
Sales development: 2009 revenue reached MNOK 23.5 compared to MNOK 19.7 in 2008, which represents a growth equal to 20 %. Significant interest in the market as a result of the regulatory approvals in Europe and positive R&D results. The company has created a solid foundation for negotiation agreements with global and regional operators. These agreements will represent a basis for a significant increase in future sales.
Development in the Supplement market: NattoPharma is still the only operator in the European market. Hence, the product MenaQ7 attracts significant attention and thus a strong expansion of the sales in this region is expected. NattoPharma continues to pursue registration of so called market claims in EFSA, in order to obtain maximum protection in the future against entries of possible other operators in the European market.
Share issue: A fully subscribed share issue of MNOK 10 was carried out October 13th 2009, of which MNOK 5 were guaranteed. The share issue was resolved in an extra ordinary general meeting taking place November 5th 2009.
Objective for 2010: NattoPharma has achieved full cost-control, and is looking at possibilities to increase its gross margin. This together with expected growth in revenue is anticipated to result in a positive operating result for 2010.