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Kurs & Likviditet
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
- Net sales totaled SEK 22,979 (15,699) thousand, with a growth rate of 46%. Growth is 26%, adjusted for currency effects.
- Gross profit rose by 58% to SEK 22,475 (14,195) thousand.
- Operating profit before depreciation and amortization (EBITDA) totaled SEK 6,997 (2,202) thousand.
- Operating profit jumped SEK 4,246 thousand and totaled SEK 4,993 (747) thousand.
- Comprehensive income for the period totaled SEK 5,869 (1,013) thousand.
- Comprehensive income per share totaled SEK 0.09 (0.02).
- Cash flow from operating activities was SEK 5,042 (4,613) thousand.
- Cash and cash equivalents at the end of the period totaled SEK 80,987 (45,210) thousand.
- Net sales totaled SEK 76,646 (50,957) thousand, with a growth rate of 50%. Growth is 34%, adjusted for currency effects.
- Gross profit rose by 59% to SEK 74,049 (46,577) thousand.
- Operating profit before depreciation and amortization (EBITDA) totaled SEK 20,824 (6,954) thousand.
- Operating profit jumped SEK 12,671 thousand and totaled SEK 15,320 (2,649) thousand.
- Comprehensive income for the period totaled SEK 19,766 (3,653) thousand.
- Comprehensive income per share totaled SEK 0.30 (0.06).
- Cash flow from operating activities was SEK 3,605 (6,377) thousand.
Comments from Fredrik Olsson, Chief Executive Officer
Sales increased by about 46% in the third quarter, 26% adjusted for currency effects, and we achieved an operating profit of approximately SEK 5 million.
We note that the influence of the coronavirus pandemic is gradually easing, which has had a positive impact on our customers' activity. They are returning to a greater extent to the laboratories and projects that are less focused on vaccines and Covid-19-related drug projects.
Sales of enzymes increased by about 44% and we saw growth in all geographic markets, with Asia and North America making the strongest contributions during the quarter. Revenue from gene therapy and bioprocess is expected to contribute to volatility in individual quarters in the short term and in third quarter bioprocess contributed with SEK 1.5 million. The antibody business also saw a strong performance during the quarter, with growth of about 60%. The recently launched service business for antibody analysis have been initiated and first orders have been delivered in the quarter. Overall, our sales performed well and the expansion of our commercial organization, combined with a broader product offering, is reflected in increased customer interaction and new customers.
Our total cost base has increased compared with the corresponding period last year. The increase in the cost of raw materials is largely associated with price increases that have been further accelerated by currency effects, since many of the raw materials are directly linked to other currencies. We have periodically experienced certain supply chain challenges and we are actively working with our suppliers to secure access to raw materials. Personnel costs have increased as a result of the strategic growth initiatives in our commercial organization and associated currency effects.
At the end of the second quarter we launched two new products, GlySERIAS and OmniGLYZOR. Both products have been well received, but GlySERIAS has initially generated tangible commitment among our customers. GlySERIAS mainly focuses on new formats of biopharmaceuticals, outside traditional antibodies, and the customer response has exceeded expectations.
In September, we carried out additional key hires to our commercial organization, in line with the planned strategies for the year. The new members of the commercial organization have been well integrated into our team during the year, thanks to excellent help and support from other parts of the organization, which contributed strongly to the successful initiative.
As yet, we have not experienced any clear impact among our customers due to the geopolitical and macroeconomic situation and the beginning of the fourth quarter has shown continued good customer activity in our various markets.
I would like to conclude by extending a warm thank you to my colleagues at Genovis who do amazing work for our customers every day in their quest to develop new and better treatments for patients around the world.
This disclosure contains information that Genovis AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 15-11-2022 08:00 CET.