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NattoPharma releases Q3 2020 Trading Statement: Continued strong growth in the third quarter

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Oslo, Norway (11 November 2020)

Followed by a very strong first half of 2020, NattoPharma increased revenues in the third quarter by 54%, bringing the YTD growth to 72% compared to the same period in 2019. YTD Adjusted EBITDA came in at NOK 22.9 million equal to a margin of 15.0%.

Performance highlights for Q3 2020 (Q3 2019 in brackets)

  • Operating revenue of NOK 47.5m (NOK 30.9m)
  • Adjusted EBITDA of NOK 6.1m (NOK 3.2m)
  • Adjusted Total OpeX as % of Revenue 30.3% (32.5%)
  • Cash flow from Operating Activities of NOK 21.2m (NOK 8.8m)
  • Inventory balance of NOK 45.0 (NOK 33.0)
  • Our supply situation, including Natural supply from India, is flowing as normal, with no current delays despite COVID-19
  • Due to delays incurred by COVID-19, our new ingredient launch is still pending on the completion of clinical studies related to the finalization of the product development phase
  • The strategic review is ongoing. Due to the complexity of such a review we are not committing to a specific timeline. We will of course inform the market as soon as we have something to communicate, to ensure clear and transparent communication

CEO, Kjetil Ramsøy:

“The third quarter came in above expectations and we didn’t see the normal slowdown during the summer season that has been the trend in previous years. Already during August we passed 2019 full year revenue levels which is a great achievement from the team. Looking ahead for the rest of the year we see another strong quarter coming up. The development of the market during 2020 has been really exciting and I believe NattoPharma is well positioned to handle the future growth. We also see from recent market announcements that our developments have made an impression and created a further interest in our company which plays well into the ongoing strategic review.”

Guidance 2020

The outlook remains strong and the Q4 order book indicates another strong quarter. Therefore, we update the guiding for the YoY revenue growth to above 60% and we retain our guiding of Adjusted EBITDA to 13-18%.

 

Please find enclosed the NattoPharma Group Q3 2020 Report.

For more information, please contact:

Robert Schrama, CFO, NattoPharma, robert.schrama@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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