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Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Hälsovård |
| Industri | Läkemedel & Handel |
A strong start to the year - Sales and operating profit growing, good progress in business development
April - June 2025
- Consolidated sales during the first quarter, April to June amounted to SEK 107.2 (82.8) million, an increase of 30%.
- Gross profit amounted to SEK 46.2 (37.0) million, an increase of 25%.
- Operating profit (EBIT) amounted to SEK 20.5 (15.2) million, an increase of 34%. The operating margin was 19% (18%).
- EBITDA amounted to SEK 25.8 (15.9) million and EBITDA margin was 24% (19%).
- Earnings per share before dilution were SEK 0:34 (0:36) for the quarter. Earnings per share after dilution were SEK 0:33 (0:36).
- Cash flow from operating activities amounted to SEK -3.2 (-19.8) million.
- Cash and cash equivalents were SEK 56.1 (13.4) million at the end of the quarter.
CEO's comments
The first quarter of 2025/26 marks a strong start for EQL Pharma. Sales grew by 30% and the EBITDA margin amounted to 24%. During the quarter, one new product was added to the pipeline and Memprex received marketing approval in France. After the end of the quarter, a new license deal for Memprex was announced, where the rights for BeNeLux were licensed to Goodlife. EQL also took its first steps for its own establishment in Germany and the Netherlands. Sales growth for the full year 2025/26 is forecast at around 30%.
Financial Overview for the first quarter
During the quarter, sales rose to SEK 107.2 million, an increase of 30% from SEK 82.8 million the previous year. Operating profit (EBIT) increased by 34% to SEK 20.5 million compared to SEK 15.2 million the previous year, with an EBITDA margin of 24%. The gross margin was 43% (45%).
Cash and cash equivalents amounted to SEK 56.1 (13.4) million at the end of the quarter. In addition, there is an unutilized working capital credit of SEK 27.2 (17.3) million.
CAPEX was SEK 23.6 (7.7) million during the quarter driven by a larger pipeline. This is fully in line with the company's ambition to add as many new products as cash flow allows.
The leverage amounted to 3.7x EBITDA, which is below the maximum leverage of 4.0.
Financial targets and forecasts for the current financial year
Sales grew by 30%, which is in line with the company's ambitions for the new five-year period 2024/25 - 2028/29. The EBITDA margin amounted to 24%, which is a sign of strength, given that the goal is to stabilize the EBITDA margin at 25% during the first half of the new five-year period, and then above 25%.
Product launches and market dynamics
No new products were launched during the quarter. The portfolio thus remains at 46 launched products.
EQL received marketing approval in France for our strategic key product Memprex during the quarter. This approval is the first since EQL's focused brand initiative for Memprex began and launch is expected in early 2026. We have also added a new partner for Memprex after the end of the quarter in the form of Goodlife for BeNeLux, which is a testament to the great potential that we see in Europe.
After the end of the quarter, a first step in an internally led European expansion was announced. Key people have been hired in Germany and the Netherlands with the task of identifying niche products there, in a similar way as EQL has successfully done in the Nordics. These two markets were initially chosen because they resemble the Nordic markets that EQL is used to in a number of key characteristics. Above all, these are mainly price-centric markets, where the player with the lowest price gets a majority of the sales, without active marketing. Furthermore, the niche segment appears relatively unexploited in these markets.
During the quarter, a new niche generic was added to our pipeline, which thus grows to 45.
Other
The situation for our carriers in the Red Sea has not changed since last quarter.
EQL has no exposure to the US or direct impact from potential American tariffs. The sale of our pharmaceuticals is also independent of the economic cycle, which means that EQL is financially stable, even in a more uncertain global situation.
EQL is in a phase where a major focus is on ensuring in the long term that we can deliver on the new five-year plan. This means in concrete terms adding more new products and territories, working actively with the cost base and ensuring progress in our various development projects and launches. Furthermore, we are actively working with our new product area Special Generics and are starting work for Germany and the Netherlands, with the aim of expanding our total addressable market and thereby accelerating the addition of new products going forward.
This disclosure contains information that EQL Pharma 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 08-08-2025 07:00 CET.