Interim Report Third Quarter 2024
STENOCARE A/S
NASDAQ FIRST NORTH GROWTH MARKET, DENMARK
TICKER: STENO
STENOCARE A/S (“STENOCARE”) today announces its results for the period 01.01.2024 – 30.09.2024. The report, which has not been reviewed by the Company’s auditors, is attached to this release and is also available on https://stenocare.com/investor-relations/
Thomas Skovlund Schnegelsberg, CEO of STENOCARE, comments:
” Stenocare sales is lower than expected even though we have been successful with approval of a new product in Denmark. In Q3 we announced the unique new Astrum value proposition is ready for German patients, that will position the Company as an innovative supplier.”
| (KDKK) |
01.07.2024 |
01.07.2023 |
01.01.2024 |
01.01.2023 |
| Gross sales 1) | 1,117 | 2,375 | 3,261 | 5,183 |
| Net sales | -925 | 203 | 974 | 2,734 |
| Operating profit before depreciation (EBITDA) | -3,931 | -3,839 | -9,149 | -9,595 |
| Net financial items | -170 | -667 | -1,208 | -2,040 |
| Investment in tangible assets | 0 | 46 | 44 | 176 |
| Result per share (DKK) | -0.23 | -0.34 | -0.64 | -1.01 |
Result per share: The result for the period divided by the average number of shares. Total number of shares as of September 30, 2024, amounted to 20,212,497 (15,102,124). Average number of shares for the third quarter 2024 was 20,212,497 (15,102,124).
- Gross sales are sales before reduction for returned products.
Highlights during the period:
July 2024 – The Company announced that The Company and ADREXpharma are now ready to deliver a new and innovative medical cannabis oil product for German patients, that has the potential to revolutionize the market. Stenocare and ADREXpharma have received approval to sell a new and innovative medical cannabis oil product in Germany, set to be available for patients in the fourth quarter of 2024.
August 2024 – The Company updated the guidance from November 2023 based on actual market performance from Q1 and Q2 2024 and the forecast for Q3 and Q4 2024. The guidance of gross sales of 12-18 mDKK is now expected to be 6-8 mDKK for 2024, which is a growth of +7% compared to 2023. This will also influence the ambition to reach break-even for the last quarter of 2024, which is not realistic with the new sales forecast.
Highlights after the period:
October 2024 – The Company updated its guidance from August 2024, based on actual market performance in Q3 2024 which has impacted the Company’s 2024 guidance. The guidance of gross sales of between 6-8 mDKK is now expected to be 4.5 mDKK for 2024. The Company is exploring various financing opportunities to meet both its short-term and long-term capital needs.
November 2024 – The Company announced changing of the Board of Directors. Board member Søren Kjær will leave the board. The Company will nominate Rolf Steno to join the Board at the next general meeting. Rolf Steno has a background in sales and international business development.
For additional information regarding STENOCARE, please contact:
Thomas Skovlund Schnegelsberg, CEO
Phone: +45 31770060
E-mail: presse@stenocare.com
STENOCARE’s Certified Adviser is Keswick Global AG, Phone: +43 1 740 408045, E-mail: info@keswickglobal.com
About STENOCARE A/S
STENOCARE A/S was founded in 2017 with the purpose of supplying medical cannabis to patients in Denmark and internationally. The company was first to receive the Danish Medicines Agency's permission to import, distribute as well as cultivate and produce medical cannabis. STENOCARE sources its products from a number of carefully selected international high-quality suppliers and operates a unique, indoor state-of-the-art cultivation facility in Denmark, that has multiple levels of redundancy to safeguard quality and uniformity in a pesticide free production process.
www.stenocare.dk www.stenocare.com