RECORD STRONG END TO 2019
Oslo, Norway (19 February 2020)
NattoPharma increased revenues by 25% in the fourth quarter and for the full year 2019. Adjusted EBITDA in the quarter came in at NOK 5,0 million.
| (mnok) | Q4’19 | Q4’18 | 2019 | 2018 |
| Operating Revenue | 38,5 | 30,9 | 127,1 | 101,7 |
| Gross Margin | 42,4% | 43,4% | 42,2% | 43,1% |
| EBITDA (adj.) | 5,0 | 3,0 | 11,0 | 6,7 |
CEO, Kjetil Ramsøy: “We are very happy to deliver on our promises and continue the growth curve we have seen in the last couple years. The growth continues in all areas and across all product categories. We see increased demand among our key customer base and more interest from smaller accounts and from new prospects.
We are very pleased that the profitability is strengthening, with a 13% EBITDA margin in the fourth quarter. We are confident that the organization can handle more volume on the current cost base. Combined with significantly more available product, increased capacities and product cost reductions in 2020, we are well positioned to meet the demand and continue our profitable growth.
In December we announced a private placement of shares towards existing shareholders Synergia and Pro AS. This was important as it enables us to absorb necessary working capital and invest in future growth.
At the end of the quarter we decided to do a partial write-down of the loan to Kaydence Pharma AS. Kaydence has decided to suspend operations for the time being.
In February we announced that Robert Schrama is starting as the new CFO for NattoPharma in March. We are delighted to welcome Robert as permanent CFO and we look forward to work with him as we continue our growth path.
Going forward we expect to continue the growth on a YoY basis and to maintain the annual growth rate of 20% to 30%. We increase our guiding on overall margin to between 42% and 47% on a full year basis, as we see impact of cost reductions start to take effect. EBITDA (adj.) is guided to be between 10% to 15% on a full year basis. This guiding on revenue and margin is only related to the current vitamin K2 business, and any impact of a launch of a new ingredient is not taken into account in these numbers.”
Please find enclosed the Nattopharma Group Fourth Quarter 2019 Report.
For more information, please contact:
Kjetil Ramsøy, CEO, NattoPharma, kjetil.ramsoy@nattopharma.com
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.