Record quarter and strong pipeline
Oslo, Norway (13 November 2019)
NattoPharma increased revenues by 31% in the third quarter and 25% for the first nine months of 2019. Adjusted EBITDA in the quarter came in at NOK 3,2 million.
| (mnok) | Q3’19 | Q3’18 | YTD’19 | YTD’18 |
| Product Revenue | 30,9 | 23,6 | 88,6 | 70,8 |
| Gross Margin | 43,0% | 45,5% | 42,0% | 42,9% |
| EBITDA (adj.) | 3,2 | 1,1 | 6,0 | 3,6 |
CEO, Kjetil Ramsøy:
“We are very pleased with this quarter. It shows the scalability of our business model as we can sell more product without adding additional overhead cost. The underlying revenue growth is very strong adjusted for the delayed product launch for two of our key accounts. The largest of these is coming back with orders at the end of Q4.
We have had a strong start to the fourth quarter and now targeting an adjusted EBITDA of NOK 10 million for the year. We continue to see increased demand among our key customer base and more interest from our smaller accounts and from new prospects. The company is well positioned to meet the demand with significantly more product available and increased capacities going forward. Combined with the launch of our new ingredient next year we are very optimistic about the future for the company.
In the quarter we signed a market making agreement with Norne Securities. We are pleased to see that the liquidity in the share has increased significantly as this is important to attract more investors. We are confident that the continued growth and positive prospects for the company will add value for our shareholders going forward. To further increase the communication with shareholders we also consider hosting live, face-to-face, presentations for some or all our quarterly presentations going forward. This will ensure shareholders access to management during the year and will help to build confidence in the work being done to grow the company.”
Please find enclosed the Nattopharma Group Third 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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