Tromsø, Norway, 19th August 2021 – ArcticZymes Technologies (OSE: AZT) reported sales of NOK 21.4 million (33.4) and an EBITDA of NOK 6.0 million (22.5) for the second quarter of 2021.
Highlights from Q2 2021
- ArcticZymes Technologies (AZT) had Q2 sales of NOK 21.4 million – a reduction of 36% (Q2 2020: NOK 33.4 million)
- Coronavirus-related sales are estimated at NOK 4.5 million in Q2 2021 (NOK 11.0 million in Q2 2020)
- Gross profit reduced to NOK 21.6 million as a result of lower sales (Q2 2020: NOK 33.0 million)
- AZT generated a positive EBITDA of NOK 6.0 million (Q2 2020: NOK 22.5 million)
- Cash-flow for Q2 was positive NOK 13.6 million (Q2 2020: NOK 20.4 million) giving a cash balance of NOK 177.0 million (Q2 2020: NOK 56.1 million)
- Launched SAN HQ 2.0 at the end of the quarter
- Increased ownership in ArcticZymes AS from 96% to 100% by contribution in kind
CEO Jethro Holter comments:
“Second quarter sales performed as expected following a strong Q1 2021. Quarterly volatility is more prominent due to a changing environment relating to the Coronavirus pandemic and associated short-term demands in the supply chain in all market segments ArcticZymes serves.
A new milestone was reached for two consecutive quarters, achieving >100 MNOK in sales revenues for the last 12-months on a quarterly rolling basis. We are delighted to achieve this and now focus our efforts on our next milestone, which is to achieve 120 MNOK in annual sales revenues during 2021.”
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