SenzaGen’s interim report January–June 2024: 30% growth in Q2, and funding secured for new commercial growth projects

“We have continued to deliver very strong sales growth with cost controls in the second quarter of the year. Sales increased to SEK 14.7 million in the quarter, representing 30% year-on-year growth driven by the impressive performance of our GARD® business, which grew by 55%. We have achieved this rapid growth without increasing our cost base whilst improving our gross margins. With stronger funding for our ongoing growth projects secured, we will now be able to accelerate the transition to improved testing without the use of animals.”

Peter Nählstedt, President and CEO

1 April–30 June 2024

• Net sales totaled SEK 14.7 (11.3) million.
• EBITDA amounted to SEK -2.5 (-5.0) million.
• Earnings per share were SEK -0.30 (-0.31).

Half year 1 January–30 June 2024

• Net sales totaled SEK 29.0 (23.6) million.
• EBITDA amounted to SEK -2.4 (-6.8) million.
• Earnings per share were SEK -0.43 (-0.51).
• Cash and cash equivalents at 30 June amounted to SEK 42.9 (25.1) million.

Significant events in the second quarter

• SenzaGen conducted a directed issue of shares equivalent to SEK 37.2 million to a number of professional investors. The proceeds of this will support several important investments that will secure future growth.

Significant events after the end of the period

• SenzaGen’s non-animal testing collaboration with Research Institute for Fragrance Materials (RIFM) was expanded with a new GARD®skin Dose-Response order worth SEK 1.5 million.
• An existing customer in the chemicals industry placed an order worth SEK 1.3 million for testing with GARD®skin Dose-Response.
• SenzaGen strengthened its US market presence by signing a license agreement with the Institute for In Vitro Sciences (IIVS), a contract research organization that is a prominent advocate of non-animal testing.

Webcast presentation
SenzaGen is pleased to invite press and investors to a webcast presentation at 10:00 AM on August 22. The presentation will be given by the SenzaGen's President and CEO, Peter Nählstedt, followed by a Q&A session moderated by Redeye's analyst Gustaf Meyer. The presentation will be held in English.

Time: Thursday, August 22, from 10:00 AM to 11:00 AM.
Link to webcast: https://www.redeye.se/events/1015874/investor-update-senzagen-3.

The presentation can be watched afterwards at SenzaGen’s website: https://senzagen.com/investors/presentations/

This information is information that SenzaGen is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above on 22 August 2024, at 08:30 CEST.