Press release from Companies
Publicerat: 2021-08-13 13:26:08
The Board and CEO of Eevia Health Plc hereby present the Interim Report for the second quarter 2021, covering the period April 1st through June 30th, 2021. The complete report with tables is attached to this release as a pdf-file. It is also available on the company website at www.eeviahealth.com
Significant events during the second quarter of 2021: Significant events after 30 June 2021: Comments from our CEO Eevia continued its strong development in the second quarter this year. The period became heavily dominated by three main activities: The efforts behind each of these activities were significant and came on top of normal operational activities. The organization delivered well on all three fronts. The company signed a major SEK 100 million sales agreement on June 11th. We commissioned several new equipment during the quarter, which was finally completed late July. And, on June 29th, the company was listed on Spotlight Stock Market, after a 400% subscribed IPO equity issue. All three activities are key enablers to achieving the company’s long term business goals, and as CEO, I am both impressed and proud of the performance of the team, as well as the Board and our advisers. We came through and reached our targets, lifting the company to a new level while staking out a clear course for the next few years. I was also happy to see that at the end of the quarter, production started to capitalize on the new equipment, with improved capacity, yields and gross margins starting to materialize! While the commissioning of the new equipment during this summer also involved certain operational disruptions in July, we are in a good position for the second half of 2021. As we are experiencing an increasingly advanced and automated production set-up, we are also working to develop deeper technical competence in the company’s staff. Strong systems, competence and organizational agility are needed to run a more technically advanced manufacturing plant. Hence, developing the technical competence of our operators and shift leaders, through training and performance measurements, is a key target for the second half 2021. The global market for nutraceutical ingredients is growing steadily. With the improved financial strength and new investments, Eevia is well placed to maintain its efforts to become a leading manufacturer globally of organically certified nutraceutical ingredients. We will continue these efforts in the second half of the year, capitalizing on our improved factory set-up by targeting new customers, while consolidating our relationship with existing clients. With the improved financial strength and new investments, we are confident on delivering over MEUR 25 in turnover in 2024 with over 40% gross margin and EBITDA above 15% of turnover. Wishing you a healthy and safe end of the summer. Stein Ulve CEO Key ratios The key ratios for January to June 2021 and 2020 are shown in the table below: [1] [Net sales include trading of raw material as part of a raw material sourcing scheme, totaling KEUR 122 during Q2 2021. Deliveries of raw material ended as planned in April 2021, and total deliveries under this scheme during the first half of 2021 amounted to KEUR 1 440. The deliveries were done to secure raw material that Eevia can call on in the future to secure customer orders. As such, these revenues are completed with insignificant margins.] For more information, please contact: Tel.: +358 504 44 0717 About Eevia Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are mostly wild harvested and key raw materials are harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B to dietary supplements and food brands globally, who utilize the products as ingredients in their consumer product formulas. Eevia Health is fast-growing Finnish manufacturer of 100% organically certified plant extracts. Most of its raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion. The safe and effective ingredients of high quality, such as high concentrate bilberry anthocyanin extracts (36% anthocyanins) and pine bark extracts (70% oligomeric proanthocyanidins), are organically certified. Eevia Health operates a modern green-chemistry production facility in Finland, located close to the raw material harvest areas. The short value-chain enables an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia is listed at Spotlight Stock Market with the short name EEVIA. To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn @EeviaHealth.
1 Jan – 30 Jun
1 Jan– 31 Dec
2021
2020
2020
NET sales, KEUR
4 724
763
2 866
EBITDA, KEUR
-539
-175
-694
Net result of the period, KEUR
-725
-244
-1 023
Earnings per share, EUR*
-0,05
-0,02
-0,07
Shareholders' equity per share, EUR*
0,26
0,09
0,03
Average number of employees
29
9
13
Share related key ratios have been calculated according to the following formulas:
Earnings per share, EUR
Net result of the period / 13 682 700 shares
Shareholders' equity per share, EUR
Total Equity / 13 682 700 shares
Kim Nurmi-Aro, CFO