Oslo, 4 November 2021 - Navamedic ASA (OSE: NAVA) grew revenues by 12% in the
third quarter of 2021 compared to the same quarter last year. The company
reported revenues of NOK 63.6 million in the third quarter of 2021 with an
EBITDA of NOK 3.7 million, driven by underlying growth in the portfolio and
Mysimba® in particular. The company reiterates its mid-term ambition of building
a NOK 500 million company through organic growth.
"Our portfolio of specialty pharma and consumer health products continue to grow
with particularly strong performance for the obesity medicine Mysimba, which
grew by 77% in the third quarter. We expect the high demand for Mysimba to
continue going forward, further fueled by the conditional reimbursement in
Finland and roll-out of our successful patient support program, helping obesity
patients across the Nordics to succeed in their treatment," says Kathrine
Gamborg Andreassen, Chief Executive Officer of Navamedic ASA, and continues.
"We are also pleased to see the strong performance of our portfolio of
antibiotics products, displaying solid traction on tenders compared to plan with
new tenders won in several countries."
Revenues in the third quarter of 2021 were NOK 63.6 million (NOK 56.8 million in
the third quarter of 2020). The gross margin was 38.9% (31%), while the EBITDA
was NOK 3.7 million (3.8). In YTD 2021, revenues grew by 21.8% compared to the
same period last year, up from NOK 154.6 million to NOK 188.3 million, while
EBITDA was NOK 10.6 million, up from NOK 2.4 million in the same period last
year. Navamedic will launch products in at least one country in each launch
window going forward. The company targets 20% annual growth from 2021 and
reiterates its mid-term ambition of building a NOK 500 million company through
organic growth with strong gross margins and underlying profitability.
Navamedic is hosting a webcast presentation of the third quarter 2021 financial
results, Thursday 4 November at 08.45 CET. The presentation willbe held at
Sparebank 1 Markets in Olav V's gate 5 in Oslo as well as via webcast on
www.navamedic.com/investors/financial-results under '2021'. Representatives from
Navamedic will be CEO Kathrine Gamborg Andreassen and CFO Lars Hjarrand.
EBITDA and other alternative performance measures (APMs) are defined and
reconciled to the IFRS financial statements as a part of the APM section of the
attached third quarter 2021 presentation on slide 22.
For further information, please contact:
Kathrine Gamborg Andreassen, CEO, Navamedic
Mobile: +47 951 78 680
Lars Hjarrand, CFO, Navamedic
Mobile: +47917 62 842
Navamedic ASA is a Nordic pharma company and reliable provider of high-quality
products, delivered to hospitals and through pharmacies, meeting the specific
needs of patients and consumers by leveraging its highly scalable market access
platform, leading category competence and local knowledge. Navamedic is present
in all the Nordic countries, the Baltics and Benelux, with sales representation
in the UK and Greece. Navamedic is headquartered in Oslo, Norway, and listed on
the Oslo Stock Exchange (ticker: NAVA). For more information, please
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.