Tromsø, Norway, 28 January 2021 - ArcticZymes Technologies (OSE: AZT) reported
sales of NOK 22.1 million (16.3) and an EBITDA of NOK 6.8 million (4.9) for the
fourth quarter of 2020. Underlying growth continues.
Highlights from Q4 2020
All financials figures are exclusive of discontinued operations (Biotec
· ArcticZymes Technologies had Q4 sales of NOK 22.1 million growing by 35% (Q4
2019: NOK 16.3 million)
· Coronavirus related sales are estimated at NOK 7.0 million in Q4 2020 (NOK 0
in Q4 2019)
· Gross profit for ArcticZymes Technologies improved to NOK 21.5 million with
97% margin (Q4 2019: NOK 16.3 Million)
· ArcticZymes Technologies delivered a positive EBITDA of NOK 6.8 million (Q4
2019: NOK 4.9 million)
· Cash-flow for Q4 was positive NOK 80.2 million (Q4 2019: NOK 9.2 million)
giving a cash balance of NOK 140.2 million (Q4 2019: NOK 31.2 million)
· ArcticZymes Technologies becomes a pure enzymes company following the
divestment of the Biotec BetaGlucans subsidiary to Lallemand Inc., with an
Enterprise Value of NOK 70 million
CEO Jethro Holter comments:
"We are delighted that the enzymes business continues to drive strong quarterly
sales growth and delivered on its promise to bring ArcticZymes Technologies into
profitability during 2020. Both the therapeutics and combined molecular
diagnostics (MDx)/molecular research segments have contributed towards growth in
Q4. Furthermore, our expanding product range and customer base have been
instrumental in fuelling underlying growth.
The divestment of the Biotec BetaGlucans subsidiary was successfully closed and
pathed new directions for both Biotec BetaGlucans and ArcticZymes. This
transaction thereby allows ArcticZymes Technologies to focus exclusively on the
profitable enzyme business and enables additional investments in new
infrastructure and personnel both of which will be key to drive innovation and
to expand our existing product portfolio."
Fourth Quarter 2020 Presentation and Webcast
A presentation by ArcticZymes Technologies' CEO, Jethro Holter and CFO, Børge
Sørvoll will take place today, 28[th] January 2021, at 08:30 am CET as a live
video/phone -conference. Call in details: +47 21 40 24 87 with conference id:
971 717 24#. Participants who want to participate in the Teams webcast are asked
to send an email to email@example.com for a separate invitation.
The results, report and presentation for the fourth quarter 2020 will be
available on www.newsweb.no (https://protect
-eu.mimecast.com/s/ax_EC4xJkS8gx1SMlEBY?domain=newsweb.no) and on the Company's
homepage www.arcticzymes.com from 07:00 am on 28[th] January 2021.
For more information, please contact:
CEO, Jethro Holter Tel: +47 46 85 91 46
CFO, Børge Sørvoll Tel: +47 95 29 01 87
About ArcticZymes Technologies ASA
ArcticZymes Technologies is a Norwegian life sciences company focused on the
development, manufacturing and commercialization of novel recombinant enzymes
for use in molecular research, In Vitro Diagnostics (IVD) and therapeutics.
Listed on the Oslo Stock Exchange since 2005 originally under the [Biotec]
ticker, as Biotec Pharmacon. The company rebranded as ArcticZymes Technologies
in 2020 under the [AZT] ticker. Its headquarters are based in Tromsø, Norway, at
the SIVA Innovation Centre.
ArcticZymes Technologies' unique IP and capabilities are protected via a large
portfolio of patents.
For more information, please visit the website: www.arcticzymes.com.