Navamedic ASA Q3 2015 Report

Navamedic ASA today announced the Company's third quarter 2015 financial results. Navamedic's Pharma and Healthcare business saw sales growth and improved profitability. The Company acquired Observe Medical International AB (OM) in the quarter, forming a Medtech business unit engaged in launching Sippi® - an innovative automated digital urine measurement device with global sales potential.

Navamedic grew total sales by 4% in the quarter, to NOK 61.5 million (NOK 58.8 million). The Company's Pharma and Healthcare Business grew EBITDA in the quarter to NOK 5.1 million (NOK 4.6 million), while the consolidated Group EBITDA for the quarter was NOK 1.5 million (NOK 4.6 million). The Group EBITDA was affected by one-off acquisition related costs and operational costs in the Medtech business, costs totaling NOK 3.6 million in the quarter. The Group earnings before taxes for the third quarter 2015 ended at NOK -2.3 million (NOK 1.9 million).

For the first nine months of 2015, sales grew by 13% to NOK 183.0 million (NOK 161.1 million). EBITDA for the first nine months was NOK 8.9 million (NOK 10.5 million). Earnings before taxes for the first nine months came in at NOK 0.3 million (NOK 2.3 million).

For further information:

CFO Bjørn Lindholt
E-mail: bjorn.lindholt@navamedic.com
Mobile: +47 93 00 66 01