Magle Chemoswed Holding AB Today Announced Financial Results for The First Quarter Of 2021

·2 min read

MALMÖ, SWEDEN / ACCESSWIRE / May 14, 2021 / Magle Chemoswed (STO:MAGLE) (FRA:52X)

The first quarter of 2021is in line with forecast and provides a strong performance basis for the remainder of 2021. High demand in the CDMO services area has followed the trend seen in the latter stages of 2020.

"The quarter was, as expected, a challenging start to the year and we have ended the first quarter strongly. We continue to deliver on our strategic priorities and remain focused on creating significant value for shareholders. We are making substantial progress in our development pipeline to expand our product portfolio on our technology platform. This is being supported with strong demand in the CDMO services area of the business. With the upcoming addition of PharmaCept in the next quarter, I am confident that we are well on our way to building an exciting foundation to bring our technology products to the market in an expedited manner" said Justin Pierce, Magle Chemoswed Holding's CEO.

  • EBITDA equalled SEK 3,5 million (2,8).

  • Operating profit (EBIT) is SEK 0,78 million (0,18)

  • Net sales in the period amounted to SEK 31,3 million (38,7)

  • Profit after tax amounted to SEK 1,04 million (0,4)

  • Earnings per share amounted to SEK 0,09 (0,74) per share*

*A share split was carried out on the 27th of March 2020 and a share issue was carried out on the 4th of January 2021. These actions have an effect on the earnigns per share over the comparative periods.

The financial report is published on the Company website and can be accessed via this link https://maglechemoswed.com/financial-information/.

The first quarter results are presented as unaudited accounts for the period and have not been audited by the Company auditors.

The next financial report is scheduled according to the Financial Calendar and will be the second quarter interim report and will bereported at 07:00 on August 17, 2021.

Contacts

Justin Pierce, CEO, phone +46 (0)70 593 58 21, justin.pierce@maglechemoswed.com

About Us

Magle Chemoswed is a unique international contract development manufacturing company dedicated to bringing ideas to product for customers alongside building our own product pipeline based on our patented technology base. As an integrated company, we have extensive capabilities across the value chain, from the discovery, development and manufacture of medicines and medical devices that rely on our patented and trade secret protected technology platform.

Västra Hamnen Corporate Finance is the Company's certified advisor on Nasdaq First North Growth Market and can be reached at ca@vhcorp.se or +46 (0) 40 200 250.

This information is information that Magle Chemoswed is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-05-14 07:00 CEST.

Attachments

MCSH Q1 2021

SOURCE: Magle Chemoswed



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