Tromsø, Norway, 28th October 2021 – ArcticZymes Technologies (OSE: AZT) reported sales of NOK 25.6 million (19.5) and an EBITDA of NOK 9.0 million (7.1) for the third quarter of 2021.
Highlights from Q3 2021
- ArcticZymes Technologies (AZT) had Q3 sales of NOK 25.6 million – an increase of 31% (Q3 2020: NOK 19.5 million)
- Coronavirus-related sales are estimated at NOK 2.9 million (Q3 2020: NOK 4.0 million)
- Gross profit increased to NOK 24.1 million because of increased sales (Q3 2020: NOK 19.4 million)
- AZT generated a positive EBITDA of NOK 9.0 million (Q3 2020: NOK 7.1 million)
- Cash-flow for Q3 was positive NOK 9.9 million (Q3 2020: NOK 13.6 million) giving a cash balance of NOK 186.9 million (Q3 2020: NOK 69.7 million)
- Four new advanced prototype enzymes were released for customer evaluation
- Commercial activities return to normal following the pandemic
CEO Jethro Holter comments:
“ArcticZymes Technologies commercial activities have mostly returning back to normal with customer re-engagement towards pre-pandemic activities. This is reflected in Q3 sales where ArcticZymes Technologies has experienced its second-best quarter for the non-coronavirus-related business achieving NOK 22.7 million. Furthermore, the Company accomplished its highest quarterly performance for sales to the Therapeutics (Biomanufacturing) segment achieving NOK 12.6 million.
AZT continues to uphold its earlier guidance with an annual sales revenue goal of NOK 120 million for 2021.”
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