Enzymatica AB: Lower sales in Q2, but 31 %-increase for the first half of the year

                                                                 

The interim report for the

Enzymatica AB (publ)

JANUARY — June 2018

Lower sales in Q2, but 31 %-increase for the first half of the year

The second quarter

  • Net sales amounted to sek 5.3 MILLION (5.9).

  • Profit after tax amounted to -15,5 M (10.8).

  • Earnings per share before and after dilution, amounted to sek -0,17 SEC (-0,12).

  • Cash and cash equivalents amounted to MSEK 3.2 (18.4) of the.

Significant events during the quarter

  • ColdZyme® mouth spray continued to take market shares on the Swedish market in both value and volume.

  • Enzymatica announced positive results from a study with elite athletes that used the ColdZyme.

The first half of the year

  • Net sales amounted to SEK 20.4 m (15,5).

  • Profit after tax amounted to sek -25,7 MSEK (-22,3).

  • Earnings per share before and after dilution, amounted to SEK -0,28 (sek-0.25).

Significant events after the quarter

The regional commercial court in Frankfurt has added restrictions on the marketing of förkylningssprayen ViruProtect® in Germany. Enzymaticas partner STADA analyze the consequences, and as soon as more information is available it will Enzymatica to communicate how the sales of ViruProtect in Germany should be handled. Domstolsutlåtandet applies only to the marketing of ViruProtect in Germany, and in Belgium and Austria, where the product is also sold.

  • Enzymatica presented at the Ears, Nose and Throat congress in Linköping, sweden, 11 april the results from an in vitro study showing that ColdZyme reduce the amount of the second most common cold virus Corona with 99.9 %

  • Enzymatica entered into a distribution agreement with Qualia Pharma for the marketing and sale of ColdZyme on the Greek and cypriot market.

  • Enzymaticas quality management system was certified according to en ISO 13485:2016.

CEO comment: ColdZyme continues to take market share

During the second quarter, Enzymaticas sales by 10 %, mainly due to the warm early summer in northern Europe. The fact that STADA added uppföljningsorder during the fourth quarter of 2017 and first quarter of 2018 for the German, belgian, and austrian markets, meant that no supplementary orders were made during the second quarter. At the same time, the increase in sales in the first half to 31 %.

During the second quarter, the total cold segment in Sweden with 1 %, while the ColdZyme increased sales to the consumer by over 3 %. ColdZyme continue to take market share despite the fact that the whole segment slopes slightly. On a rolling 12-months, our market share (7 and 20 ml combined) increased from 4.9 per cent to 5.2 per cent compared with the same period of the previous year.

An important factor behind our continued increase in sales on the domestic market, is its focus on digital campaigns and influences-marketing, with the dedication of a 20-speaking people, such as health, sports and föräldrabloggare.

During the quarter achieved Enzymatica two important milestones. Our quality management system was certified according to en ISO 13485:2016 and we brought into use our new facility for the production of enzymes on the Island according to the GMP standard (Good Manufacturing Practice).

After the reporting period, the regional commercial court in Frankfurt to add restrictions on the marketing of förkylningssprayen ViruProtect® in Germany. The question is driven by the trade association Schutzverband and not by any authority. The reason for the decision seems to be the strict requirements on the execution of clinical studies according to German law. Enzymaticas partner STADA analyzes the consequences of-effects of the decision. Restrictions on the marketing of ViruProtect means that the sales of the product in Germany may suffer damage and in the worst cases cease until such time as new clinical data have been presented. It may be most likely a negative effect on our sales in Germany. In the meantime, Enzymatica work to strengthen the clinical documentation of ColdZyme.

At the end of the quarter, we received a bridge loan from three of our major shareholders for a total of 30 MILLION for the financing of the business, which caters to the group’s liquidity needs for the rest of 2018. At the same time, we continue the work to ensure the long-term financing for the company’s growth. I see it as very positive that three of our principal shareholders, set up with capital and makes it possible to continue with our international expansion. Thus, we continue untiringly work to stop future contracts for ColdZyme with major international distributors.

Fredrik Lindberg, CEO

Short of Enzymatica

Enzymatica AB is a life science company whose mission is to develop medical devices, based on the barriärteknologi and marine enzymes, for self-management within a larger market segment. The company has developed ColdZyme, a unique oral spray for cold, launched the product at a dozen markets and has since the launch in 2013 reached a position as one of the most sold brands in sek on the Swedish pharmacy. Sales are made through its own organization in Scandinavia and through cooperation with a kontraktsorganisation in the Uk and through distributors in austria, Finland, Iceland, Greece, Spain, Germany, Austria and Belgium.

The development work include the products within the upper respiratory tract infections, skin and oral health. Enzyme derived from djuphavstorsk is a central component of product development.

Enzymatica was founded in 2007, has its registered office in Lund, sweden, and is since 15 June 2015 listed on Nasdaq First North.

ColdZyme are sold both directly and through distributors and partners in Sweden, Denmark, Norway, Finland, the Uk, Greece and Spain, and from the autumn of 2017 under the brand ViruProtect® in Germany, Austria and Belgium. The corresponding product under the brand PreCold® are sold in Iceland by the acquired company Zymetech. In Spain sold the product under the brand name Cortagrip®.

Questions about the report are answered by:

Fredrik Lindberg, CEO, Enzymatica AB

Tel: 0708-86 53 70 | E-mail: fredrik.lindberg@enzymatica.com

Therese Filmersson, CFO, Enzymatica AB

Tel: 0708-40 72 24 | E-mail: therese.filmersson@enzymatica.com

Publication

The information in this interim report is such that Enzymatica is obliged to publish under the EU market abuse regulation. The information was submitted, by the above contact person in the government, for publication on 17 July 2018 there is 08.30 CET.

Address

Enzymatica AB (publ) Corporate identity number: 556719-9244

Post: Ideon Science Park, 223 70 LUND Visiting address: Scheelevägen 19 A, Ideon, Lund

Telephone: 046-286 31 00 | info@enzymatica.se | www.enzymatica.se

Enzymatica is listed on Nasdaq First North. The company is traded under the ticker ENZY and the ISIN-code SE0003943620.

The Certified Adviser is Erik Penser Bank.

Enzymatica Interim Report January-June 2018

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Enzymatica AB via Globenewswire

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