Reports

Publicerat: 2019-11-11 15:13:57

EQL Pharma AB: Interim report April - September 2019

CEO’s comments
Financially
The investments EQL Pharma made in its product portfolio in recent years continue to provide good returns. For the second quarter in a row, sales increased by more than 30 percent compared to the same period last year. Quarterly sales are also the company"s best since the company was founded. Through efficient working capital financing, cash liquidity is good despite large continued investments in the product portfolio.

Market
During the quarter, EQL Pharma got its first hospital product approved. The product is approved for sale in Sweden, Denmark, Norway and Finland. Sales of hospital products are through a procurement procedure, a new sales channel for EQL. Over time, EQL will begin to report hospital sales as its own segment, but sales must first reach a relevant size.

Expansion of the product portfolio
EQL Pharma conducts extensive development work in collaboration with leading contract manufacturers and major pharmaceutical companies in, for example, India and China. Several important products are now approaching submission to the various pharmaceutical authorities.

Strategic initiatives
In addition to the strategic initiative (1) expansion of the product portfolio (see above), the company has also successfully worked with other initiatives (2) improved logistics chain, (3) geographical expansion and (4) unique products. The initiatives are aimed at ensuring long-term and sustainable profitability growth.

July - September

  • Consolidated sales for the second quarter amounted to SEK 17.9 (13.3) million, an increase of 35%.
  • Gross profit for the quarter amounted to SEK 9.3 (8.0) million, an increase of 16%.
  • EBITDA for the quarter amounted to SEK 2.3 (2.1) million.
  • Earnings per share were 0:04 (0:05) SEK for the quarter.
  • Cash flow from operating after change in working capital amounted to SEK 5.8 (-0.0) million for the quarter.
  • Cash and cash equivalents was SEK 18.9 (0.4) million at the end of the period.

April - September

  • Consolidated sales for the first six months amounted to SEK 32.3 (23.9) million, an increase of 35%.
  • Gross profit for the period amounted to SEK 17.9 (13.9) million, an increase of 29%.
  • EBITDA for the period amounted to SEK 3.6 (3.0) million.
  • Earnings per share were 0:04 (0:05) SEK for the period.
  • Cash flow from operating after change in working capital amounted to SEK 3.3 (-4.8) million for the period.
  • Cash and cash equivalents was SEK 18.9 (0.4) million at the end of September.

Significant events during the second quarter

  • At the end of August, EQL Pharma"s first hospital product was approved. The drug Hevicain Spinal Heavy 5mg / ml solution for injection was approved by the Swedish and Danish pharmaceutical authorities for sale. In September, the drug was also approved by the Norwegian and Finnish authorities.
  • In September, Aripiprazole EQL Pharma, oral solution, was also approved by the Swedish Medicines Agency for sale. The product is also expected to be launched during the first quarter, 2020.

Significant events after the second quarter

  • On October 31, Spotlight launched its new segment Next. A segment where Spotlight describes that the vision is to create a place for companies that are ready to take the next step in their growth journey.
    EQL Pharma is one of the eight companies that has been approved from the start and lives up to the requirements set in the segment.

For further information, please contact:
Christer Fåhraeus

CEO, EQL Pharma AB (publ)

Phone: +46 (0) 705 – 60 90 00
Email: christer.fahraeus@eqlpharma.com
Website: www.eqlpharma.com 

About EQL Pharma 
EQL Pharma AB is specialized in developing and selling generics, i.e. drugs that are medically equivalent to the original medicines. The company currently has 18 niche generics (i.e. generics with little or no competition except for the original medicine) approved on the Swedish and Danish markets. In addition to these, there is a significant pipeline of additional niche generics for launch in 2019 and onwards. The business is currently entirely focused on prescription pharmaceuticals in the Nordic region. EQL Pharma AB is based in Lund, Sweden, employs 9 people and is listed on Spotlight Stock Market. EQL Pharma AB also conducts extensive development in cooperation with leading contract manufacturers developers and major pharmaceutical companies in, amongst other countries, India and China. 

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