Oslo, 11 May 2021 - Navamedic ASA (OSE: NAVA) grew revenues by 5.4% in the first
quarter of 2021 compared to the same quarter last year. The company reported
revenues of NOK 58.6 million in the first quarter of 2021 with an EBITDA of NOK
2.6 million, driven by both new products, underlying growth and an improved
revenue mix. The company reiterates its mid- to long-term ambition of building a
NOK 500 million company.
"In the first quarter of 2021, we continued to deliver growth in our underlying
portfolio. The rapid growth of specialty pharma product Mysimba and the consumer
health products Alflorex and ThermaCare stand out as valued proofpoints of
Navamedic's position in prioritized areas such as gastro, obesity and other
lifestyle related issues, says Kathrine Gamborg Andreassen, Chief Executive
Officer of Navamedic ASA, and continues.
"The accelerated growth in these areas comes as a result of targeted investments
in our platform, patient support programs, local category expertise and customer
and stakeholder infrastructure. These investments will be key in 2021 as we
continue to accelerate growth through launch of new products and push for growth
in our existing portfolio."
Revenues in the first quarter of 2021 were NOK 58.6 million (55.6 million in the
first quarter of 2020). The gross margin was 39.6% (28.3%), while the EBITDA was
NOK 2.6 million (0.7). 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- to long-term ambition of building a NOK 500 million
company with strong gross margins and underlying profitability.
Navamedic is hosting a webcast presentation of the first quarter 2021 financial
results, Tuesday 11 May at 08.30 CET. Due to the Covid-19 situation, the
presentation will only be held as a live webcast, on
www.navamedic.com/investors/financial-results. 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 first 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: +47 917 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.