First quarter 2022 financial report

28. Apr 2022 | 4 min read

 

Moss, 28 April 2022

Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic tests, today announced its results for the first quarter of 2022.

Highlights

Sales revenue was MNOK 20.6, up 5% from 1Q21, with organic growth of 6%. Total operating revenue was MNOK 23.1 in 1Q22.

Sales of third-party products increased by 81% versus 1Q21 with record revenues of MNOK 2.8. Positive developments continue into Norway, Finland, and Iceland.

New customers established for Cystatin C in the US, a key market for continued growth.

Post quarter the company announced a distribution agreement with a leading global diagnostics company for Cystatin C covering the US.

The SARS CoV-2 Antibody assay was commercially launched.

The first GCAL® shipments following the recently initiated commercial partnership with Siemens Healthineers were executed.

EBITDA was MNOK -4.2 in 1Q22 versus NOK -2.0 in 1Q21.

”During the first quarter, Gentian’s commercial strategy and the team’s efforts continued to bear fruits. In late January this year, we secured a global distribution contract with one of the leading diagnostics companies of the world, Siemens Healthineers. I’m pleased to report that the initial phase of the cooperation has been a success, as we were able to deliver the first shipments to customers under this contract during the quarter,” commented Hilja Ibert, CEO of Gentian Diagnostics.

“The sales growth in the quarter was below our annual target rate of 20%+ for the established products, impacted by timing of large orders. The underlying development continues positively, and we expect a strong second half of 2022 in terms of sales. Importantly, the macro trends supporting increasing demand for our products remain intact and the positive outlook is further cemented by the distribution agreement for Cystatin C in the US with a leading global diagnostics company announced post quarter and geographical expansion of our third-party products,“ adds Ibert.

Webcast

Gentian’s CEO Hilja Ibert and CFO Njaal Kind will present the results today at 10.00 am, followed by a Q&A session. Join the webcast and submit questions via the following link: https://attendee.gotowebinar.com/register/560651297119961358

The webcast will be made available on the company’s IR website after the presentation.

GDASA Interim report 1Q 2022

GDASA Q1 22 presentation

 

IR contact:
Njaal Kind, CFO and COO
njaal.kind@gentian.no
+47 919 06 525 (mobile)

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 in the Norwegian Securities Trading Act.

About Gentian

Gentian Diagnostics (OSE: GENT), founded in 2001, develops and manufactures high-quality, in vitro diagnostic reagents. Gentian’s expertise and focus lies within immunochemistry, specifically infections, inflammations, kidney failures and congestive heart failures. By converting existing and clinically relevant biomarkers to the most efficient automated, high-throughput analysers, the company contributes to saving costs and protecting life. Gentian is based in Moss, Norway, serving the global human and veterinary diagnostics markets through sales and representative offices in Sweden, USA and China. For more information, please visit www.gentian.com.

 

To see the announcement follow this link: https://newsweb.oslobors.no/message/560337

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