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Biotec Pharmacon Q1 2019 Results

Biotec Pharmacon Q1 2019 Results

Tromsø, Norway, 30 April 2019 – Biotec Pharmacon (OSE: Biotec) announces its Q1 2019 results to 31 March 2019.

Highlights for Q1 2019

  • Group sales were up 4% to NOK 14.8 million (Q1 2018: NOK 14.2 million).
  • Gross profit for the Group improved 23% to NOK 12.0 million (Q1 2018: NOK 9.7 million) due to improvements in all high margin areas.
  • ArcticZymes had first quarter sales of NOK 7.9 million growing by 25% (Q1 2018: NOK 6.3 million).
  • Woulgan® continues to generate recurring revenues with NOK 1.2 million for the quarter, up 140% (Q1 2018: NOK 0.5 million), driven primarily by good sales in the German market.
  • Improvement in EBITDA to NOK -3.9 million (Q1 2018: NOK -5.1 million) as a result of stronger sales in high margin areas.
  • Cash-flow for the quarter was NOK -3.5 million Q1 2018: -10.6 million).

CEO Christian Jørgensen comments:

“We have seen improvements across the business and, in particular, ArcticZymes and Woulgan sales have improved significantly compared to the same quarter last year. Even though our business dynamics are not quarter-by-quarter, it is a solid start to the year.”

“We have also continued to reduce our deficit through the combination of stronger sales and tight cost control this quarter.”

“We continue to add customers in our various business segments, which is a strong signal of the relevance of our products not only to our demanding direct customers but also, more broadly, we are addressing unmet end-user needs.”

First Quarter 2019 Results Presentation and Webcast

A presentation by Biotec Pharmacon’s CEO, Christian Jørgensen, and CFO, Børge Sørvoll, will take place today, 30 April 2019, at 08:30 am CET at Hotel Continental, Stortingsgata 24/26, Oslo.

The presentation can also be followed as a live webcast from Hegnar TV on https://webtv.hegnar.no/presentation.php?webcastId=97815170. It will be possible to post questions through the webcast console.

The results, report and presentation for the first quarter 2019 will be available on www.newsweb.no and on the Company's homepage, www.biotec.no from 07:00 am on 30 April 2019.


About Biotec Pharmacon ASA
Biotec Pharmacon is a Norwegian life sciences company focused on specialized, novel enzyme and immunomodulating beta-glucan technology.

The Biotec Pharmacon Group is creating value from innovation in life science markets via its subsidiaries, ArcticZymes and Biotec BetaGlucans. Its technologies capitalize on more than three decades of world-class research at the Arctic University of Tromsø to offer niche and high tech products in several biotech segments.

ArcticZymes develops, manufactures and commercialises novel recombinant enzymes for use in molecular research, In Vitro Diagnostics (IVD) and therapeutics.

Biotec BetaGlucans develops, produces and markets immunomodulating beta-glucans addressing high unmet healthcare needs, such as chronic wound healing and as an adjuvant in vaccines against certain types of cancer relapse.

Listed on the Oslo Stock Exchange since 2005 under the [Biotec] ticker, Biotec Pharmacon is headquartered in Tromsø, Norway, in the SIVA Innovation Centre.

Biotec Pharmacon’s unique IP and capabilities are protected via a large portfolio of patents around both enzyme and beta-glucan products.

For more information, please visit the website: www.biotec.no.


Issued for and on behalf of Biotec Pharmacon by Instinctif Partners.
For more information please contact: Biotecpharmacon@instinctif.com

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