Moss, 16 February 2023
Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic tests, today announced its results for the fourth quarter and full year 2022.
Highlights
- Sales of MNOK 27.9 in Q4 22, up 28% (23% organic growth) from 4Q21
- Full-year sales revenue increased 22% to MNOK 101.6 (21% organic growth) in line with the company’s long-term growth target
- EBITDA was MNOK -1.5 in 4Q22. EBITDA for the full year was MNOK -13.0.
- Patent related to NT-proBNP granted in the US and progress on assay development continued.
- Four strategic distribution agreements with major global IVD companies achieved in 2022, including one announced in 4Q for GCAL
“Even in uncertain times, the global demand for diagnostics continues to be robust and for the fifth consecutive year Gentian delivers sales revenue growth above 20%. While the company is now free cash flow positive pre R&D, we will continue to invest in profitable growth. This to maximise the potential of our established products and the ones in market development, while also bringing new high-impact diagnostic tests to market,” says CEO Hilja Ibert of Gentian Diagnostics.
Gentian converts existing biomarkers to the most efficient automated, high-throughput analysers, which contributes to saving costs and protecting life. The company’s go-to-market strategy has been proven through successful and long-lasting partnerships with globally leading IVD companies such as Beckman Coulter and Roche through Bühlmann Laboratories.
“In 2022 we entered into four partnerships with leading IVD companies, including a contract for GCAL with Siemens Healthineers which has been off to a good start. In Q4, we added another undisclosed partner for international roll-out of this product. In 2023, we plan for continued sales growth enabled by additional proof of clinical evidence, endorsements from key opinion leaders, regulatory approvals and development of existing and new partnerships,” says Ms Ibert.
GDASA Interim report 4Q 22
GDASA Q4 22 presentation
Webcast
Gentian’s CEO Hilja Ibert and CFO Njaal Kind will present the results today at 10:00 CET, followed by a Q&A session. Join the webcast and submit questions via the following link:
https://attendee.gotowebinar.com/register/6415726643434678875
The webcast will be available on the company’s IR website after the presentation.
IR contact:
Njaal Kind, CFO and COO
njaal.kind@gentian.no
+47 919 06 525 (mobile)
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.
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.