After thorough analysis and reallocating costs from Human to Animal Care, we learned that combining financial data from all areas has masked the strong performance of our animal care division. Simulated separate reporting shows that our animal care operations were not only sustainable but also profitable in 2024.

Notably, a significant portion of our revenue comes from the sale of our patented TSE-Treatment Kits™, which indicates that veterinarians value the unique performance and safety features provided by both the Kits and our vetIQure™ device during each treatment.

CEO Mohan Frick commented, "This exercise highlights an important component of our achievements in 2024 and reveals the growth and potential of our Animal Care division within our overall financial results. We're committed to ensure accurate and transparent reporting. This is a major step forward, and with TSE's potential in veterinary care exceeding 100s of MUSD, we are focused on increasing sales to drive consistent cash flow and future profits for the entire group.".

Starting in Q1 2025, Scandinavian ChemoTech will introduce separate reporting for Animal Care and Human Care divisions. This pivotal change aims to enhance efficiency and accountability, enabling better resource allocation, streamlined operations, and growth in both areas. It also sets the stage for positive cashflow to unlock the strong potential within Human Care.

As we move forward, we remain committed to innovation, transparency, and excellence. These changes represent an important milestone in optimizing our revenue streams and achieving long-term success.