Tromsø, Norway, 27th January 2022 – ArcticZymes Technologies (OSE: AZT) reported sales of NOK 40.5 million (22.1) and an EBITDA of NOK 20.8 million (6.8) for the fourth quarter of 2021.
Highlights from Q4 2021
- ArcticZymes Technologies (AZT) had Q4 sales of NOK 40.5 million – an increase of 84% (Q4 2020: NOK 22.1 million)
- Exceeded annual sales target achieving NOK 128.0 million for 2021 – an increase of 37% (2020: NOK 93.4 million)
- Coronavirus-related sales are estimated at NOK 9.3 million (Q4 2020: NOK 7.1 million)
- Gross profit increased to NOK 38.5 million because of increased sales (Q4 2020: NOK 21.5 million)
- Positive EBITDA of NOK 20.8 million (Q4 2020: NOK 6.8 million)
- Cash flow was positive NOK 14.0 million (Q4 2020: NOK 73.4 million due to Biotec BetaGlucans divestment) giving a cash balance of NOK 200.4 million (Q4 2020: NOK 140.2 million)
- Launched 3 new products and successfully upscaled the manufacturing of the M-SAN HQ enzyme
- New 500 m2 production facility completed and operational
CEO Jethro Holter comments:
“We are delighted that the enzyme business continues to drive strong quarterly sales growth and exceeded its promise to achieve annual sales of NOK 120 million. It has been an excellent year for the Company demonstrating its ability to operate as a profitable and high-growth, standalone enzyme company following the earlier divestment of the Biotec BetaGlucans subsidiary.
ArcticZymes Technologies continues to bring innovations to market and enters 2022 with a new state-of-the art manufacturing facility. These will be instrumental in further supporting organic growth of the enzyme business.”
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