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NattoPharma releases Q4 2020 Trading Statement: The best quarter of 2020

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Oslo, Norway (17 February 2021)

Followed by a very strong first nine month of 2020, NattoPharma increased revenues in the fourth quarter by 62%, bringing the FY growth to 69% compared to the same period in 2019. The total revenue for 2020 ended up at NOK 214.5 million passing the NOK 200 million for the first in the history of the company. FY Adjusted EBITDA came in at NOK 37.3 million equal to a margin of 17.4%.

Performance highlights for Q4 2020 (Q4 2019 in brackets)

  • Operating revenue of NOK 62.3m (NOK 38.5m)
  • Adjusted EBITDA of NOK 14.4m (NOK 2.2m) / Adjusted EBITDA% of 23.1% (3.0%)
  • Adjusted Total OpeX as % of Revenue 21.2% (29.7%)

Performance highlights for FY 2020 (FY 2019 in brackets)

  • Operating revenue of NOK 214.5m (NOK 127.1m)
  • Adjusted EBITDA of NOK 37.3m (NOK 8.2m) / Adjusted EBITDA% of 17.4% (6.5%)
  • Adjusted Total OpeX as % of Revenue 25.2% (33.6%)
  • Cash flow from Operating Activities of NOK 25.4m (NOK 6.4m)
  • Inventory balance of NOK 49.4 (NOK 33.7)

CEO, Kjetil Ramsøy:

“We finished 2020 with strong growth delivering the best quarter in our history, set­ting a new revenue record for a single quarter of NOK 62.3 million, and ending the year well in line with the previous guiding with full-year revenue of NOK 214.5 mil­lion. The group performance in 2020 has been outstanding - driven by a great team and strong relationships with partners on both the customer and supplier side.”

Strategic Review Process

On Monday February 15th, 2021, NattoPharma announced that it has entered into a Transaction Agreement with Com­pagnie des Levures Lesaffre where­by Lesaffre announced that they will launch an offer to acquire all outstanding shares of NattoPharma through a voluntary cash offer of NOK 30 per share. An offer that is recommended by the full Board of Directors of NattoPharma.

On the same day NattoPharma announced its intention to launch a cash tender offer to acquire 100% of the shares of Kaydence Pharma AS through a voluntary cash offer of NOK 5 per share. The completion of this offer is subject to Lesaffre completing the offer to acquire all NattoPharma shares.

For further details we refer to the separate press releases from 15 February 2021 available through our website at www.nattopharma.com.

Guiding

Going into 2021, we see continued healthy development in the market and our expectation for 2021 compared to 2020 is a growth in the range from 20% to 30% growth year on year. Our Adj. EBITDA is expected to be in between 17% and 22% of revenue.

Please find enclosed the NattoPharma Group Q4 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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