Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic tests, today announced its results for the second quarter and first half of 2023.
* Record sales of MNOK 34.2 in 2Q23, up 13% vs 2Q22. Revenue of MNOK 65.6 in 1H23 up 30% vs 1H22. Organic growth for the quarter was 2% in 2Q23 vs 2Q22 and 17% in 1H23 vs 1H22
* EBITDA of NOK 3.6 million in 2Q23 and NOK 3.1 million for 1H23, compared to EBITDA of NOK -1.2 million in 2Q22 and NOK -5.4 million 1H22
* Third party product sales increased by 112% in Q2 and 68% for H1, mainly driven by the new fCAL® turbo contracts in Sweden and Norway
* Increased use of Cystatin C recommended in updated guidelines, of which KDIGO is the most recent one, resulting in further expansion of the global market
* Confirmed value of GCAL, validated by clinical trial, for early detection of severe infections and prediction of clinical deterioration in an emergency setting. In addition, the cost-saving impact of GCAL was proven in a health economic model based on a study performed in an ICU setting
* Acquisition of Getica AB (Gothenburg, Sweden) to secure unique R&D capabilities and to gain control of critical production competence with estimated operational gains of approximately NOK 2.0 million from 2024
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.