HALF-YEAR REPORT
Period from Januari – June 2022
Peptonic Medical AB (publ) org nr 556776-3064
(www.spotlightstockmarket.com, ticker: PMED)
GROUP
2022 SECOND QUARTER (Apr-Jun)
- Net sales of products KSEK 12 354 (7 356)
- Gross profit KSEK 6 269 (4 863), Gross margin 51% (66%)
- Operating loss KSEK -8 146 (-12 271)
- Loss per share SEK -0.04 (-0.06)
2022 FIRST HALF YEAR (Jan-Jun)
- Net sales of products KSEK 21 262 (18 747)
- Gross profit KSEK 11 865 (11 439), Gross margin 56% (61%)
- Operating loss KSEK -19 021 (-18 851)
- Loss per share SEK -0.08 (-0.10)
From the CEO
Improved sales and improved results.
It is satisfying that we in this quarter are improving both sales and earnings significantly. The improvements regard in comparison to the previous quarter and the corresponding period last year.
The sales development is explained by the positive development of sales of vaginal self-tests to international license partners in the US and the EU. We have also continued positive development of our own brand VagiVital in the home market Sweden. During the quarter, the new VagiVital VS, self-test to identify vaginal infections, was launched in Sweden.
Change in gross margin 51% (66%) in comparison with the corresponding quarter of the previous year is explained by an increasing share of sales to international partners with higher volume but lower margin. With the acquisition of CommonSense Israel, partner contracts with set prices were inherited. Prices are under renegotiation and will increase over time. In combination with increased efficiency in production, this will have a positive effect on the gross margin.
Well positioned to meet current social trends
Looking forward, we see continued positive development. The company's new strategy and core business with clinically proven intimate self-care based on the diagnose/treat/prevent principle meets a strong social trend, which is reflected in growing sales and a strong order backlog. We continue with great focus on our work to create a unique and market-leading portfolio at the same time we build sales and improve results. According to the previous communicated information in the quarter one report, additional external capital will be needed.
August 18th, 2022
Erik Sundquist, VD
| KEY FIGURES | |||||
| Peptonic Group | |||||
| 6 mon | 6 mon | 12 mon | 12 mon | ||
| jan-jun | jan-jun | jan-dec | jan-dec | ||
| 2022 | 2021 | 2021 | 2020 | ||
| Sales goods, KSEK | 21 262 | 18 747 | 31 643 | 21 283 | |
| Gross profit sales goods, KSEK | 11 865 | 11 439 | 19 070 | 13 089 | |
| Gross margin, % | 56% | 61% | 60% | 61% | |
| Operating profit, KSEK | -19 021 | -37 602 | -73 718 | -31 053 | |
| Return on equity,% | -142 | -22 | -87 | -31 | |
| Equity ratio,% | 67 | 89 | 62 | 88 | |
| Earnings per share, SEK | -0.08 | -0.10 | -0.38 | -0.19 | |
| Liquidity per share, SEK | 0.04 | 0.11 | 0.05 | 0.24 | |
| Equity per share, SEK | 0.26 | 0.56 | 0.27 | 0.72 | |
| Share price per closing, SEK | 0.49 | 1.30 | 0.63 | 1.73 | |
| Share price/Equity per share, SEK | 1.91 | 2.09 | 2.30 | 2.39 | |
| Equity per share, SEK | 242 743 544 | 191 639 642 | 191 639 642 | 162 911 613 |
FINANCIAL INFORMATION
Group
Revenue - Sales of goods during the second quarter amounted to SEK 12 354 (7 356) thousand. Other operating income for the quarter was SEK 329 (14) thousand. During the first half of the year, sales of goods amounted to SEK 21 262 (18 747) thousand. Other operating income for the half year was SEK 850 (4) thousand.
Costs - Costs for the second quarter amounted to SEK -20 829 (-19 641) thousand. Costs of goods for the second quarter amounted to SEK -6 085 (-2 493) thousand. Costs of goods for the first half year amounted to SEK -9397 (-7 308) thousand.
Profit - The company's profit after net financial items for the second quarter amounted to SEK -9 043 (-12 280) thousand. For the first half year the corresponding amount is SEK -20 301 (-18 918) thousand.
Financial position and liquidity - Cash and bank amounted to SEK 9 836 (21 140) thousand as of June 30th, 2022.
Shareholders 'equity - The group's shareholders' equity as of June 30, 2022, amounted to SEK 62,416 (106,526) thousand, which gives an equity / assets ratio of 67 (89) percent.
Liabilities - The group's liabilities, as of June 30, 2022, amounted to SEK 30,471 (13,087) thousand.
Organization - During the period, the average number of employees was 31 (18). At the end of the period, the number of employees was 31 (16).
Share - The total number of shares as of June 30, 2022 was 242,743,544 (191,639,642).
| INCOME STATEMENT | |||||||||
| Peptonic Group | |||||||||
| 3 mon | 3 mon | 6 mon | 6 mon | 12 mon | |||||
| apr-jun | apr-jun | jan-jun | jan-jun | jan-dec | |||||
| KSEK | Note | 2022 | 2021 | 2022 | 2021 | 2021 | |||
| Operating income | |||||||||
| Sales of products | 12 354 | 7 356 | 21 262 | 18 747 | 31 643 | ||||
| Other operating income | 329 | 14 | 850 | 4 | 622 | ||||
| Total operating income | 12 683 | 7 370 | 22 111 | 18 751 | 32 265 | ||||
| Operating expenses | |||||||||
| Cost of goods | -6 085 | -2 493 | -9 397 | -7 308 | -12 573 | ||||
| Other external expenses | 1 | -8 715 | -11 874 | -19 245 | -20 906 | -45 690 | |||
| Personnel costs | -5 653 | -2 989 | -11 256 | -6 202 | -19 430 | ||||
| Depreciation | -879 | -877 | -1 737 | -1 754 | -27 055 | ||||
| Other operating costs | 502 | -1 408 | 502 | -1 432 | -1 234 | ||||
| Total operating expensses | -20 829 | -19 641 | -41 132 | -37 602 | -105 983 | ||||
| Operating loss | -8 146 | -12 271 | -19 021 | -18 851 | -73 718 | ||||
| Net financial income/expense | -897 | -9 | -1 280 | -67 | 30 | ||||
| Loss before taxes | -9 043 | -12 280 | -20 301 | -18 918 | -73 688 | ||||
| Taxes | 0 | -14 | 0 | -14 | 0 | ||||
| Net loss for the period | -9 043 | -12 294 | -20 301 | -18 932 | -73 688 | ||||
| BALANCE SHEET | |||||||
| Peptonic Group | |||||||
| 30-jun | 30-jun | 31-dec | |||||
| KSEK | Note | 2022 | 2021 | 2021 | |||
| Assets | |||||||
| Non-Current assets | |||||||
| Intangeble assets | 2 | 50 879 | 76 125 | 52 210 | |||
| Goodwill/badwill | 2 | 0 | 0 | ||||
| Tangeble assets | 3 | 4 142 | 1 300 | 4 204 | |||
| Financial assets | 0 | 0 | 0 | ||||
| Total non-current assets | 55 021 | 77 425 | 56 413 | ||||
| Current assets | |||||||
| Stock | 15 325 | 6 422 | 10 323 | ||||
| On going fund raising | 0 | 0 | 0 | ||||
| Other receivbles | 11 582 | 13 821 | 5 166 | ||||
| Tax receivable | 0 | -2 | 524 | ||||
| Prepaid expenses and accrued income | 1 123 | 807 | 920 | ||||
| Liquid assets | 9 836 | 21 140 | 10 153 | ||||
| Total current assets | 37 866 | 42 188 | 27 086 | ||||
| Total assets | 92 887 | 119 613 | 83 500 | ||||
| Equity and liabilites | |||||||
| Equity | |||||||
| Ristricted equity | |||||||
| Share capital | 24 274 | 19 164 | 19 164 | ||||
| Ongoing right issues | 0 | 0 | 0 | ||||
| Reserves | 11 186 | 10 068 | 9 617 | ||||
| Other contributed capital | 270 942 | 249 592 | 247 337 | ||||
| Profit or loss brought forward incl year result | -243 987 | -172 298 | -224 101 | ||||
| Total equity | 3 | 62 416 | 106 526 | 52 017 | |||
| Current liabilites | |||||||
| Liabilities interest bearing | 7 471 | 8 387 | 6 219 | ||||
| Trade payables | 16 022 | -94 | 15 347 | ||||
| Other payables | 1 365 | 928 | 2 885 | ||||
| Prepaid income and accrued expenses | 5 615 | 3 866 | 7 032 | ||||
| Total current liabilities | 30 471 | 13 087 | 31 483 | ||||
| Total equity and liabilities | 4 | 92 887 | 119 613 | 83 500 | |||
| STATMENT OF CASH FLOW | |||||
| Peptonic Group | |||||
| 6 mon | 6 mon | 12 mon | |||
| jan-jun | jan-jun | jan-dec | |||
| KSEK | Note | 2022 | 2021 | 2021 | |
| CASH FLOW FROM OPERATIONS BEFORE CHANGES IN WORKING CAPITAL | |||||
| Operating profit/loss | -20 301 | -18 918 | -73 688 | ||
| Non-cash flow items | 1 737 | 1 754 | 26 840 | ||
| Paid tax | 0 | -14 | 0 | ||
| NET CASH FLOW FROM OPERATING ACTIVITIES BEFORE CHANGES IN WORKING CAPITAL | -18 564 | -17 178 | -46 848 | ||
| Increase (-) decrease (+) inventory | -5 002 | -289 | -4 190 | ||
| Increase (-) decrease (+) receivables | -6 095 | -4 684 | 3 333 | ||
| Increase (-) decrease (+) liabilities | -1 686 | -3 531 | 7365 | ||
| NET CASH FLOW FROM OPERATING ACTIVITIES | -31 347 | -25 681 | -40 340 | ||
| CASH FLOW FROM INVESTING ACTIVITIES | |||||
| Investment in immaterial assets, net | -211 | -176 | -1 256 | ||
| Investment in material assest, incl subsidaries | 0 | 185 | -3 024 | ||
| Investment in financial assets, net | 0 | 0 | 0 | ||
| Divestment / reduction of financial assets | 282 | - | 0 | ||
| NET CASH FLOW FROM INVESTING ACTIVITIES | 71 | 9 | -4 280 | ||
| CASH FLOW FROM FINANCING ACTIVITIES | |||||
| Rights issue | 33 729 | 7 500 | 7 500 | ||
| Issue expenses | -3 445 | 0 | -15 | ||
| Bridgeloan | 675 | 0 | 7 500 | ||
| NET CASH FLOW FROM FINANCING ACTIVITIES | 30 959 | 7 500 | 14 985 | ||
| TOTAL CASH FLOW FOR THE YEAR | -317 | -18 172 | -29 159 | ||
| Cash and cash equivalents at beginning of period | 10 153 | 39 312 | 39 312 | ||
| CASH AND CASH EQUIVALENTS AT END OF THE PERIOD | 9 836 | 21 140 | 10 153 | ||
This interim report has not been reviewed by the Company’s auditors.
The Board of Directors and the CEO certifies that the interim report gives a fair overview of the business, position and profit or loss of the Company.
FINANCIAL CALENDER
Quarterly report, 3 2022-11-10
Year-end report, 2022 2023-02-24
Stockholm den 18 August 2022
Jan Bardell, Chairmen of the Board Susanne Axelsson, Board member
Lena Munkhammar, Board member Anders Norling, Board member
Erik Sundquist, CEO
For more information please contact:
Erik Sundquist, CEO PEPTONIC medical AB. Phone: +46 722 499 043