Tromsø,
Highlights from Q3 and 9 months 2023
ArcticZymes Technologies (AZT) had Q3 sales ofNOK 31.2 million (Q3 2022:NOK 29.3 million ) and sales for the first 9 months ofNOK 90.6 million (9M 2022:NOK 108.8 million ,NOK 93.8 million adjusted for Covid effects in 2022)
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AZT had a positive EBITDA for Q3 of
NOK 7.3 million (Q3 2022:NOK 2.8 million ) and a positive EBITDA for the first 9 months ofNOK 20.2 million (9M 2022:NOK 40.2 million andNOK 25.2 million adjusted for Covid effects in 2022) -
Operating expenses for Q3 were 23.9 million (Q3 2022:
NOK 24.5 million ) and for the first 9 months expenses wereNOK 70.3 million (9M 2022:NOK 69.0 million ) -
Cash flow for Q3 was positive
NOK 7.0 million (Q3 2022:NOK 7.6 million ) andNOK 2.6 million (9M 2022:NOK 38.2 million ) for the first nine months of 2023, giving a cash balance ofNOK 246.8 million - Received positive confirmation on the filing of Drug
Master File (DMF) for SAN HQ GMP -
New CEO
Michael Akoh commenced in his position onSeptember 18, 2023
CEO
"The current macroeconomic environment continues to be challenging and is also impacting sales in Q3. However, the Q3 revenues were better than Q2 as well as Q3 last year, which is viewed as positive in the current climate with the headwinds that our sector is experiencing. We are currently navigating through rough sea, but the AZT ship is solid with a very capable crew onboard and the course continues to be set on providing long term growth.
In addition, I was pleased to see the positive confirmation from FDA on the filling of the Drug
-Ends-
Presentation and Webcast
The Company will host a Q3 2023 presentation for investors, analysts and media at
The presentation will be given by Chairman of the Board,
The presentation can also be followed as a live webcast from Hegnar TV on www.arcticzymes.com or https://channel.royalcast.com/landingpage/hegnarmedia/20231102_1. It will be possible to post questions through the webcast console.
The report for the third quarter and first 9 months 2023 will be available on www.newsweb.no and on the company's homepage www.arcticzymes.com from 07.00 CET on Thursday, 2.November 2023.
For more information, please contact:
Chairman of the Board,
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Tel: +44 (0) 7496 959 743 |
About
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For more information, please visit the website: www.arcticzymes.com
https://news.cision.com/arcticzymes-technologies/r/arcticzymes-technologies-asa-q3-and-9m-2023-results,c3867616
https://mb.cision.com/Public/1090/3867616/943a44b2fb0649ca.pdf
https://mb.cision.com/Public/1090/3867616/abc988f5234d5023.pdf
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