Improved sales and operating result for Navamedic

Wed, Feb 26, 2014 23:00 CET Report this content

Navamedic today announced its fourth quarter and full year 2013 results. Navamedic had its strongest quarterly sales figures ever in the fourth quarter, and also improved the operating result. For the full year of 2013, sales grew by more than 70 per cent.

In the fourth quarter of 2013 Navamedic had revenues of NOK 42.9 million, which is a 73 per cent increase from the corresponding quarter the previous year. EBITDA for the quarter was NOK 2.6 million, against NOK 0.9 million in the fourth quarter of 2012. The results for the fourth quarter were affected by a non-realized currency loss of NOK 1.3 million, ending the quarterly earnings before taxes at NOK- 0.9 million. This is at par with the fourth quarter 2012 result. 

For further information, please contact interim CEO Håkan Josephsson, telephone +46 706 742 533 or CFO Bjørn Lindholt, telephone +47 9300 6601

Navamedic ASA is a Norwegian pharmaceutical products company. Through its subsidiary Navamedic AB the Company is a distributor of a broad range of nutrition and pharmaceutical products in the Nordic markets. Navamedic is currently building up a generic pharmaceutical business for the Nordic, Dutch and Belgian markets based on its partnership with Aspen Healthcare of South Africa.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.