Year-end report January - December 2022 S2Medical AB (publ)
SUMMARY OF INTERIM REPORT
During the fourth quarter, sales in regular wound healing products amounted to MSEK 1.2 (1.4), and increased on a full-year basis by approximately 6% compared to 2021.
The Group's net turnover during the quarter amounted to MSEK 1.2 (1.6). Turnover for the full year amounted to MSEK 4.7 (7.7). The company had a somewhat increased turnover in 2021 resulting from the sale of medical consumables to Swedish healthcare regions.
DEVELOPMENT IN THE GROUP, OCTOBER – DECEMBER 2022
- Net turnover in regular wound healing products amounted to MSEK 1.2 (1.4)
- Total net turnover amounted to MSEK 1.2 (1.6)
- Operating result amounted to MSEK -7.0 (-6.3)
- Result for the period amounted to MSEK -7.3 (-6.5)
- Earnings per share amounted to SEK -0.22 (-0.43)
DEVELOPMENT IN THE GROUP, FULL YEAR JANUARY – DECEMBER 2022
- Net turnover in regular wound healing products amounted to MSEK 4.7 (4.6)
- Total net turnover amounted to MSEK 4.7 (7.7)
- Operating result amounted to MSEK -27.7 (-19.8)
- Result for the period amounted to MSEK -29.5 (-20.1)
- Earnings per share amounted to SEK -0.90 (-1.33)
FINANCIAL POSITION
Cash and cash equivalents as of the balance sheet date amounted to MSEK 3.7, compared with MSEK 3.4 at the beginning of the period. Cash flow for the quarter amounted to MSEK 0.3 (4.2), and during 2022 to MSEK -5.8 (-15.8).
The equity/assets ratio at the end of the period was 28%.
SIGNIFICANT EVENTS DURING THE PERIOD OCTOBER 1 – DECEMBER 31, 2022
In October, a supply agreement was signed with Region Östergötland for the supply of wound healing items.
The Company's IP portfolio was strengthened during the quarter when the European Patent Office announced its intention to approve patent protection for the Company's AMP technology. Furthermore, capital was added to the Company through the exercise of subscription warrants in series 1. In total, approximately MSEK 5.66 was provided to the Company.
At the end of the quarter, the Company announced that a collation of data showed that using Epiprotect for the treatment of hard-to-heal leg ulcers can result in a cost saving of 83% compared to conventional treatment.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
Tests carried out by the researchers who are part of the HEAliX project, which the Company is part of, have shown very favorable antimicrobial effects from the antimicrobial peptide being developed as part of the project. This was reported in a press release in January 2023. The molecule that was tested had a very good effect against the bacteria, identified by the WHO as being of particular importance in the development of new types of antibiotics, and which were placed on the so-called ESKAPE list.
To read the complete year-end report, visit https://www.s2m.se/en/financial-reports
This disclosure contains information that S2Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014) and the Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person, on 22-02-2023 15:45 CET.
Contact Details
Petter Sivlér – CEO, S2Medical AB (publ)
Telephone: +46 (0)8-70 000 50
E-mail: petter.sivler@s2m.se
Certified Adviser
Vator Securities AB
Telephone +46 (0)8-580 065 99
Website: www.vatorsec.se
E-mail: ca@vatorsec.se
About S2Medical
S2Medical AB (publ) is a medical technology company that develops and sells innovative wound healing products for the entire wound healing process, with a focus on burns and chronic wounds. The company has developed eiratex®, a new cellulose-based material for healing severe burns and chronic wounds. The material heals wounds effectively and thereby reduces both suffering for patients and costs for health care.
Share's ticker: S2M
Share's ISIN-code: SE0011725084