Simris Alg interim report January

0
207

STOCKHOLM, May 7, 2021 / PRNewswire / – INCREASED ACTIVITY IN NEW BUSINESS VERTICALS, NEW E-COMMERCE PLATFORM LAUNCHED

Simris Alg AB (publ) (FNSE: SIMRIS) has released its financial results for January – March 2021.

MSEK

Jan-Mar 2021

Jan-Mar 2020

Jan.-Dec. 2020

Net sales

0.492

0.265

2,166

Operating results

-7,462

-6,859

-23.694

Earnings before taxes

-6,853

-6,486

-25,537

Cash generated from operations

-7.478

-5.980

-19.485

Cash payment at the end of the reporting period

8,463

1.641

16,512

  • Net sales for the quarter were SEK 0.492 million (0.265). Net sales in the United States were SEK 0.308 million (0.128).
  • The operating result was SEK –7.462 million (–6.859).
  • Christoffer Tell has been appointed CFO.
  • Three business areas were presented: SIMRIS BIOMIMETICS for cosmetics and pharmaceuticals, SIMRIS NOVEL FOODS for new food ingredients and the consumer brand SIMRIS for omega-3 preparations.
  • New e-commerce platforms have been launched on simris.com for the US market and on eu.simris.com for Sweden and the EU.
  • EFSA, the EU food safety authority, granted an extension of the deadline for submitting the requested additional information on Simris Alg’s application for approval under the novel food regulation. New deadline is September 1, 2021.

SIGNIFICANT EVENTS AFTER REPORTING END

  • The company presents a new development plan with new product candidates and upcoming milestones. New board members proposed by the nomination committee to the general meeting will strengthen management in order to realize the company’s potential.
  • Simris Alg signs a five-year contract with Anhalt University of Applied Sciences in the Germany (AUAS) for the development of new biologically active substances from microalgae for advanced skin care. The collaboration increases Simris Alg’s R&D capacity and aims to accelerate product development in Simris Biomimetics’ industry.

COMMENT FROM THE CEO: FIRST STEPS INTO NEW MARKETS

Those who have followed Simris Alg for a while must have noticed the significant changes in our business that we implemented over the last quarter. After successfully developing our platform from laboratory to industrial scale and bringing our first products to market, we have now entered the next phase. Here Simris continues to lead in the development of microalgae biotechnology through our new business areas, in particular Simris Biomimetics. Biologically active ingredients from microalgae for advanced skin care target a global market that is way above value $ 500 billionThat means we are sitting on a unique gold mine with almost untapped commercial potential. In the first quarter, too, there was a gratifying increase in our e-commerce The United Statesafter the start of our new online shop. Continuous growth is important in order to find the right partner for the future sale of Simris® Algae Omega-3 in the USA. Therefore, we look forward to and look forward to our new board of directors, who will play a key role in realizing Simris’ potential for the future. Spring is here!

The full version of the report is available in Swedish at www.simrisalg.se/investerare

FOR MORE INFORMATION, PLEASE CONTACT:
Fredrika Gullfot
CEO Simris
Tel .: +46 761 345 474
Email: gullfot@simris.com

This information was made available to you by Cision http://news.cision.com

https://news.cision.com/simris-alg/r/simris-alg-interim-report-january—march-2021,c3342773

The following files are available for download:

SOURCE Simris Alg

LEAVE A REPLY

Please enter your comment!
Please enter your name here