Tromsø, Norway, 22 April 2021 – ArcticZymes Technologies (OSE: AZT) reported sales of NOK 40.4 million (18.5) and an EBITDA of NOK 25.8 million (9.0) for the first quarter of 2021.
Highlights from Q1 2021
- ArcticZymes Technologies (AZT) had Q1 sales of NOK 40.4 million growing by 119% (Q1 2020: NOK 18.5 million)
- Coronavirus-related sales are estimated at NOK 16.5 million in Q1 2021 (NOK 3.8 million in Q1 2020)
- Gross profit improved to NOK 39.9 million with 99% margin (Q1 2020: NOK 18.5 Million)
- AZT delivered a positive EBITDA of NOK 25.8 million (Q1 2020: NOK 9.0 million)
- Cash-flow for Q1 was positive NOK 23.2 million (Q1 2020: NOK 4.4 million) giving a cash balance of NOK 163.3 million (Q1 2020: NOK 35.7 million)
- Successfully upscaled the SAN HQ production process
CEO Jethro Holter comments:
“We are delighted with the performance of our first quarter as a pure enzymes company. The ArcticZymes team has delivered the best ever quarterly performance achieving sales revenues of 40 million NOK and an EBITDA of 26 million NOK. All market segments have experienced quarterly growth including re-establishment of molecular research sales to pre-pandemic levels.
Furthermore, the SAN HQ enzyme production process was successfully upscaled 100-fold. The innovation pipeline and the infrastructure expansion project of R&D and operations are progressing. Such activities are key to leveraging the greater potential ArcticZymes Technologies can accomplish through organic growth.”
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